We manage HMO room lettings for Landlords. With these we secure a tenant for each room, processing all the necessary reference checks and paperwork for a minimum
12-month period. Our partnership with ARO mean that we transfer the full annual rental for that room to our landlord account. The demand for modern room lets is consistently strong and well-presented and managed spaces typically let fast. We organise all legal safety checks and ensure compliance throughout.
As a member of the ARO network, we use their proprietary Primary Tenancy’ business model to pay you a year’s rent in advance, less our standard fees and charges. The rent is then collected monthly from the tenants in the property. Practically speaking and in other respects the ARO is similar to our conventional Full Management Service.
Assuming there is not already a tenant in residence, we will find you a quality tenant. Prior to move in we will ensure that the property is fully compliant and the tenant is professionally referenced and during the tenancy we will carry out all our normal duties as your managing agent. In the case of a new tenancy we will transfer your funds less our agreed fees once the tenant has moved in and paid their first months rent. If you already have a tenant we will transfer your funds once we have completed our checks, established a new 12 month tenancy and received the first months rent.
The ARO, Like Any Conventional Full Management Service, Is Available With Or Without A Rent Guarantee.
If you choose not to have the rent guarantee and the residing tenant does not pay the full 12 months rent then you would be liable to repay the balance, or, we can collect it back from a new tenant at our discretion.
If you choose our Landlord Rent Guarantee and the residing tenant doesn’t pay their rent you will not be liable to repay us the amount not collected, unless the tenant leaves the property and there is a void…more
Alternatively, if there is rent outstanding and you decide to go in another direction with your property, you will be liable to refund the portion of outstanding advanced rent.
If you are interested in the ARO please contact us and one of our advisers
will be happy to help with your personalised illustration.
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