Leased Service

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Sulets Leased Service

Sulets is a student accommodation specialist with a long history of working closely with universities and landlords, now operating in Leicester and Loughborough. We are a not-for-profit organisation with a strong reputation for delivering a reliable and transparent service for landlords. We have strong relationships with both universities in Leicester and we are the only student lettings agency backed by Loughborough University.

Benefits for landlords

Landlords choose Sulets because we provide stability. As an educational charity Sulets is exempt from the Renters’ Rights Act, meaning we can continue offering fixed term leases at a time when all other agents will work under the new law. You’ll know exactly how long the tenancy lasts and when your rent will be paid and the first tenancy signed is charged at a 10% fee* with no VAT. Rent is guaranteed and paid on a termly basis and possession is guaranteed at the end of the lease. Read our latest landlord testimonials.

How does it work?

Our Leased Service is a comprehensive management option- you lease your property to Sulets for a fixed term, students sign their tenancy with Sulets and we manage the property throughout the lease. We then return it to you unoccupied and in a similar condition to the start of the term, accounting for fair wear and tear. There are no set up or management fees and Sulets simply keeps the difference between the rent reserved by the lease and the rent paid by the students.

We handle all maintenance and certifications. See our fees below.

Leased Service Fees

Lease Fee	10% no VAT for the first tenancy signed, 15% no VAT thereafter
Management Fee	£0. We lease the property from you
Set-up fee	£0
Maintenance Fee	We charge 12% (10% + VAT) on the total cost of any repair for the commissioning, checking and invoicing of the repairs for leased service properties. Minimum repair fee is (£10 + VAT).

Leased Additional Fees

Gas Safety Certificate (Boiler or 1st item)	£85 (£70.84 + VAT)
EPC	£132 (£110 + VAT)
PAT Test	£66 (£55 + VAT)
Electrical Installation Certificate	£300 (£250 + VAT)
Preparing HMO or Selective Licencing application (includes 1 visit to the property)	£300 (£250 + VAT) plus cost of HMO or Selective Licencing application
Additional attendance at HMO or Selective Licencing property inspections	£60 (£50 + VAT)
Additional property visit at landlord’s request	£60 (£50 + VAT)
Print and process any documents relating to the tenancy	£30 (£25 + VAT) + postage
Fire alarm and emergency lights test. 11 monthly visits and update log	£400 (£333.34 + VAT)

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Overview of the Sulets Lease:

	Leased Service
Guaranteed rent payments
Exempt from the Renters’ Rights Act
A fixed term Sulets contract
Termly payments
Initial appraisal and valuation
Marketing of property
Production of tenancy documents
Production of guarantor documents for each tenant
Deposit collection and return
Collection of rent and transfer
Inventory
Property inspections
Maintenance service for minor repairs
Check out inspection
Dilapidations and arbitration of bond deductions

Have any questions?

Make sure you check out our FAQs for Landlords page with plenty of further information, covering everything from rent payments, contract lengths and damage charges.

*T&Cs apply – 1st tenancy signed is 10% no VAT (8.33% + VAT equivalent). All following tenancies are 15% no VAT (12.5% + VAT equivalent).