The process for landlords is very simple; Instead of signing an agreement with a tenant, you sign a management agreement with Worcester Property Network. You don’t need to do anything else. This contract will last up to 5 years and can be extended if you wish. Otherwise we return your property to you in the same condition we received it – if not better!
The 5 Basic steps to working with us:
Setting up and managing an agreement with us is incredibly easy:
You tell us the monthly rental amount that you would be happy to receive.
- We provide an agreement that has been drafted by our solicitors and sets out all of the terms.
- We take over the management of the house and fill it with our professional tenants.
- You sit back, receive your guaranteed rent and watch your bank balance grow!
- We return the house in great condition at the end of the period.
Frequently Asked Questions:
What is Worcester Property Network responsible for?
We are responsible for paying you the set monthly rental fee each month. We fill the house with our professional tenants, we ensure all of the utilities and council tax are paid, we hire a cleaner and a gardener (where applicable) to watch over the property and take care of the communal areas. We are the first port of call for the tenants if they have any problems. We act as the landlord and take over all of the landlord responsibilities so that you don’t have to worry about any of it.
Because our tenants expect the highest quality and standards we generally need to spend money up-front in order to make the house suitable. There will be no cost to you for any interior upgrade work, decoration or furniture.
Will I still make the same amount of money as usual?
Yes! You tell us how much you want to get paid! We generally pay about the same amount of money as you would earn if you were to let your property normally and we guarantee payment every month. The exact monthly amount and the time period will be agreed between us.
Am I responsible for anything at all?
As a landlord, you will need to make sure the exterior/structure of the building is sound. Worcester Property Network is not liable for repairs to these parts of the home (for example, roof tiles and structural soundness). As a responsible landlord, you should make sure the building is insured with the appropriate product, and that you have adequate safety and environmental certificates in place (e.g. Gas safety, Electrical Safety, EPC). Worcester Property Network will take responsibility for any internal repairs up to £1,000 per claim. Finally, if you have one, it is your responsibility to look after your own mortgage.
How does Worcester Property Network make its money?
We do not charge you any fees or commissions; we earn our commission from the tenant that we put into the house. Because we work with local companies to rent to their professional employees and provide quality housing with flexible length terms and professional services we are able to receive a markup on the monthly rent. That may sound like a lot of work for us, but it doesn’t matter – your payments are guaranteed every month and you don’t have to lift a finger.
Is this sub-letting?
No. Worcester Property Network do not have an Assured Shorthold Tenancy (AST) with the owner of the property. The AST is the contract that disallows sub-letting and is not appropriate in this situation. The contract that we use has been drawn up by a knowledgeable solicitor specifically for these types of arrangements.