Property Management

How does the management work?

If there is an issue we will call you and let you know the problem and offer a solution to have it fixed immediately by one of our contractors. We will always provide you with a quote prior to carrying out any work and we will arrange access so you do not have to get involved. We make sure all issues are dealt with efficiently and to the highest standard for no extra fee.

I have my own tradesmen; do I have to use yours?

We completely understand you may have a plumber or builder that you know or trust so we are happy to use your contractors to carry out works; all we ask is that they are legally certified and fully insured. We will need them to pick up keys from our office to gain access if our tenants cannot meet them during working hours.

What happens if it is something that is beyond wear and tear?

If something happens at the property that is deemed to be the fault of our tenants (e.g. a broken window) then we will cover the cost ourselves.

What if someone locks themselves out or loses their keys?

That will not be anything you will ever have to deal with while we manage your property. Tenants will call us if they are locked out or lose their keys and we will organise replacements.

Can you organise for Gas Safety Certificates?

Yes we can organise that for you and we will remind you each year when it is due. We also can organise an EPC on your behalf. The price for each is £80 + VAT.

Professional Tenants

Who do you rent your rooms to?

We specifically focus on working professionals ranging in age from 23 to 35 years old. Almost all of our tenants are working professionals, with the exception of postgraduate or mature students.

How do you find your tenants?

Over a number of years we have built relationships with well known companies, relocation agents and recruitment consultants who approach us to find accommodation for their staff. We advertise via our website, online and in print and also receive many referrals via previous and current tenants.

Are all of your tenants from a specific industry?

Our tenants are not from any particular industry, they range from recent graduates to well established professionals.

How do you reference check your tenants?

Though we consider references from previous landlords and employers very important we feel that gut instinct is even more vital. Someone can have impeccable references however if we do not feel they are suitable we will not accept them, we treat everyone of our properties as our own home so choose tenants accordingly.

Do your tenants sign contracts?

Yes. Our tenants sign an Assured Shorthold Tenancy agreement which has been specifically tailored for our business model. This contract is consistently updated to keep in line with current legislation.

What length of contract do you tenants sign?

Our tenants sign initial six month tenancy agreements and then extend from there. On rare occasions we may negotiate a shorter tenancy with a tenant if they are on a temporary work contract, but we prefer long term tenants who will form a tight knit household. On average our tenants stay 9 to15 months.

Do you tenants pay deposits?

Yes every tenant pays a deposit which is registered with the Deposit Protection Service (www.depositprotection.com).

Guaranteed Rent

How is rent paid?

We pay rent monthly in advance from our company account directly to you. We generally prefer to pay on the first of each month unless you specifically ask otherwise.

What happens if the property market falls again, will you try and renegotiate our rent?

No. Whatever we agree at the start of our tenancy we will honour for the duration of our contract.

What happens if one of your tenants falls into rent arrears or does not pay?

That does not make any difference to the rent we pay you. We are very careful who we place into our properties so it rarely happens, but if one of our tenants pays rent late or fails to pay then that is our problem.

Long Term Contracts

How long do your tenancies last?

We sign fixed three year agreements, however if a landlord has a specific reason to not want a long term agreement we are happy to negotiate.

What sort of contract do we sign?

We provide a commercial agreement which has been tailor made for our business model.

Being a commercial agreement does that mean you can legally stay longer than the agreed term?

We have opted out of certain sections of the 1954 tenant act which means we do not have security of tenure so we cannot stay in occupation longer than our agreed term.

Will there be an issue with my mortgage provider in signing a commercial agreement?

As we have no security of tenure then there should not be. We recommend that you seek authorisation from your lender before entering into any contract. We have specific documentation that you can give to your lender along with our contract that will appease any concerns they may have.

In The Know

Do you send me monthly statements?

We can send you monthly statements if you wish however as one of our landlords you will have your own personalised account that you can log in to at any time to see each rental payment that has been made to you along with details of any costs associated with your property (e.g. a gas safety certificate).

How often do you inspect your properties?

We conduct formal inspections every six months and send photos directly to your inbox however our cleaners keep us informed of the state of the property on a weekly basis and if they voice any concerns we conduct instant inspections. We also have our staff carry out informal inspections every time they visit a property, whether it is for a viewing or to check a gas meter they will walk through the property to make sure everything is in order.

Can I carry out my own inspections?

Of course we can arrange for you to inspect the property yourself to make sure you are happy with the way we are managing things.

No fees

What are the charges associated with your service?

We charge nothing to our landlords for the service we provide.

How do you make your money?

We charge our tenants a slight premium for providing high spec rooms that are inclusive of bills and have weekly cleaners, though our business model is volume based so the extra cost is minimal.

No void periods

What happens if my property goes vacant during your tenancy, does that affect my rent?

It is completely our responsibility to keep our properties occupied and whether full or vacant we still pay rent.

Do I have to wait for you to find tenants before you start paying me rent?

No, we will agree a mutually beneficial start date and start paying on that day, occupied or not.

Sharing is the future

Why did you choose to focus on shared accommodation and not regular lettings?

We saw a gap in the market and decided it was a part of the industry that needed professional attention. Thousands of people enter into shared accommodation on a daily basis however there are almost no companies focussing purely on this sector.

Aren’t people in shared accommodation mainly just backpackers?

No not at all. There are thousands of professional tenants who live in shared accommodation not only for the social aspect but also because in the current economic climate more and more working professionals are choosing shared accommodation to save money so they can save to buy a home of their own.

What we offer, you get

How do you work out what you will offer as a rental amount?

We will make you an offer that we feel is fair based on market conditions in your area. We do not over or under value properties, and what we offer is exactly what we will pay direct to you each month.

Is there a certain time when you will or will not take on properties?

We will generally take on properties on any day of the year; as far as we are concerned just because it is December or another quieter month it doesn’t mean your property should sit empty.

What if I feel the rent should be increased during the tenancy?

Rent remains as per the contract throughout our tenancy, however this works both ways so we will not ask for a decrease if the market drops.

Instant decisions

Do you make a decision on the spot?

We could however we prefer not to as we want to make sure that we do sufficient research before putting any offer forward. We are very careful to make sure that we offer a figure that will be commercially viable for London Shared and yourself. Having said that we know exactly what we are looking for so we will give you an answer within 24 hours of viewing a property.

How soon from viewing a property could you move in?

We can do this almost straight away. Usually it takes a few days to get all of the paperwork in order however that varies from property to property.