Leased Service

Our terms of business can also be viewed here.

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Sulets Leased Service

You lease your property to Sulets for a fixed term, and we guarantee your rent.

 

Sulets will agree a figure with you and advertise your property. When a group of students has been found, we will finalise our lease with you and take over the day-to-day management of the property. Your property will be returned to you at the end of the lease empty and in a similar condition to the start of the lease, allowing for fair wear and tear.

You will need to ensure that you provide the required valid safety certificates for advertising and at the start of the lease and agree to abide by the Sulets Code of Standards for Shared Student Housing.

Sulets will arrange for the renewal of all safety certificates that expire during the tenancy including the gas safety certificate, the Electrical Installation Condition Report and the Energy Performance Certificate. Renewal of the Selective / HMO licence continues to be your responsibility, but we can do the application for you on request. Please see our fees below for details.

There is no set up fee or management fee. Instead, the agent is entitled to keep the difference between the rent reserved by the lease and the rent payable by the students.

The service is fully inclusive for property owners and provides you with peace of mind that you will always receive the rent irrespective of whether the tenants pay and the property will be returned to you at the end of the lease.

Leased Service Fees

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 Sulets lease:

	Leased Service
Guaranteed rent payments
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.