In our first 2024 issue we inform you with news & updates for Leicester student landlords.
Guarantors – Payment terms & debt
As we have stated in previous updates, the Leicester market has changed significantly since 2019 and in particular, at DMU. We are seeing increasing numbers of students without a guarantor requesting monthly payments which until a few years ago, was unknown.
Sulets prides itself on the very low levels of debt we have, but we are always vigilant to changes in the market and so with this in mind, we have decided to alter our payment terms and toughen our guarantor policies to ensure that we collect as much of your rent as possible.
The key changes are:
For tenants with UK based guarantors:
- We require the guarantor to either be a homeowner, or
- To be in full time UK employment and to pass our minimum income tests.
We are conducting Land Registry checks to prove homeowner status at our cost.
For tenants without a UK based guarantor:
- A payment of 50% rent paid in advance before move in.
- Either a maximum of 4 monthly payments or 2 termly payments due by 20th January.
We believe that this will further improve our rent collection performance. However, any landlords wanting absolute assurance of receiving all their rent are advised to consider our Leased Service where Sulets rents your house from you direct and guarantee the rent payment irrespective of where we collect the rent or not.
Property Owners Handbook
We recently updated our Property Owners Handbook to reflect our latest policies and ways of working. You can download this and view here.
Easter opening hours
We wanted to let you know Sulets will be closed for the Easter break from 5:30pm on Thurs 28th March and will re-open at 9am on Weds 3rd April. Happy Easter to all our landlords!
£500 landlord referral
Sulets are actively looking to sign up new landlords in Leicester. If you know of anyone who could benefit from the Sulets service, then please let us know. The more landlords like you that we have on board, the more students we can help.
If you recommend a new landlord to us, we will offer you a £500 cash referral payment if they sign up and we let their property!
Please contact Jake Lewis (Sales Manager) who will be happy to help and can offer valuations on potential rental incomes in the student sector.
Terms & conditions:
Sulets will pay £500 to any existing landlord referring a new landlord who hasn’t previously rented a property through us and whose property we subsequently rent for the forthcoming year. The payment is for each new landlord introduced. There is no limit on the number of individual referrals that can be made.
Renters Reform Bill 2024 update webinar
In January we hosted our 2nd webinar with legal expert David Smith to discuss how the Renters Reform Bill is likely to affect the student accommodation sector and PRS landlords. If you missed this and wish to watch in your own time, it can be viewed on our YouTube channel, just tap below.
