What is Tenant Find Only Service?
This service is ideal for landlords who wish to oversee the ongoing management of the property and collect the rent themselves.
What are your prices? How much does it cost to get a tenant?
Our Tenant Finder services are £500 per room, but we can tailor this to suit individual landlord requirements. Prices can vary depending on the services required and the number of properties instructed. Please contact us for a free valuation.
There will be a £50 non-refundable standard deposit payable on signing per tenant per property. This covers the cost of preparing your property and for advising and preparing your landlord legal requirements for your let. Other than this deposit, we offer a “No Rent – No Fee” policy. This provides a very cost effective solution to finding tenants.
My property has an empty room and I need a tenant.
You can register your property to our service and we will be in charge of finding you new tenants.
My tenant is leaving at the end of the month. I don’t know what to do.
At Luxury Hub, we usually start marketing your property so that a new tenant can be found and moved in immediately after the end of the ongoing tenancy contract.
What happens if I do not like the tenants that the property management company finds for me?
We will provide adequate information about the tenant(s) so that you can decide whether to accept the offer or not. You will only pay for the Tenant Finder Service once the tenant has moved in. This means you can refuse a tenant beforehand, and only pay the marketing costs.
Is there any costs upfront for this service?
Yes, we charge £50 to cover the costs. This is a £50 non-refundable standard deposit payable on signing per tenant per property. This covers the cost of preparing your property and for advising and preparing your landlord legal requirements for your let. Other than this deposit, we offer a “No Rent – No Fee” policy. This provides a very cost effective solution to finding tenants.
On what platforms do you advertise the properties?
We advertise on social media platforms such as Instagram, Facebook, Linkedin and specialised property rental websites like RightMove, OnTheMarket, Zoopla, Spareroom and others.
Can you arrange professional photographs and 360 Tours?
Yes, we have an external company and we can arrange for these services at an extra fee. We work with professional photographers to capture your property in the best light.. You can always add this service as an extra to your contract with us Luxury Hub.
What is included in the Luxury Hub Tenant Find Only Service?
- Marketing your Property
After valuation and signing the terms and conditions, we will visit your property to take professional photos and collect valuable information to compile property details that attract the attention of potential home seekers. Your property details will then be uploaded to major online property portals for maximum exposure.
Your property will also be promoted on our social media, website, email marketing and other marketing channels exclusive to Luxury Hub.
- Selecting the right Tenant
A member of our Lettings team will always accompany prospective tenants during viewings. Once we identify the right tenant suitable for your property you will receive a notification (via phone or email), in which we will provide adequate information about the tenant(s). From here you can decide whether to accept the offer or not.
- Accepting an Offer
Once you accept the offer, we will collect a holding deposit from the tenant and place your property “Under Offer”. We will conduct a tenant background and credit check on your behalf. We will also collect bank statements and identity proofs for record.
- Drawing the Tenancy Agreement
Your decision to accept the tenant will be final and binding. Your acceptance is our go-ahead to draw up a tenancy agreement, which explains the tenants, agents and landlords obligations and any additional clauses as discussed. As a result, we will collect a security deposit and one months rent in advance before signing the tenancy agreement. The security deposit will be kept in a government approved tenant deposit protection scheme.
- Checking in The Tenants and Tenant Liaison
The keys to your property will be released to the tenant on moving-in day. If you require it, we can carry out a full inventory check. Note that this is an extra service that will incur an extra charge.
- Collection and Transfer of Rent
We will collect the first month’s rent and deposit from the tenant(s) and pay you the rent less any costs within 7 working days.
Why work with Luxury Hub?
Luxury Hub is a residential property management agent with offices in South Manchester. Our company has grown well since its inception in 2016 due to excellent local knowledge, unrivalled customer service, exceptionally competitive fees and a total commitment to integrity and transparency.
As your letting agent we are responsible for the day-to-day running of your property. Our duties include cleaning, repair, maintenance and overall property management services. As part of our appointment, we will ensure that your service charge is always used as efficiently as possible to cover the running cost of your property.
We tailor our service to your needs: you may want only tenant finder services, or you may want a full property management company.
If you appoint Luxury Hub, we are responsible for the overall property management and maintenance of your property. Our aim is to ensure that your property is always managed to the highest standard to protect the value of your asset.
How can I contact you will you communicate with us and over what matters?
We will agree on a point of contact, a payment threshold amount for maintenance, and create a personal decision making process map according to what you do and do not want us to report to you every month. This includes an Exemption Report, so we know what’s most important to you about your property.
How much is your Property Management fee? Are there any extra costs and How much does it cost to renew a tenancy?
Our fully managed property services are priced at 12% of rent for single lets and 15% for HMO’s. We also charge a set-up fee of 1 week’s rent for each tenant we place. We tailor our services to suit individual landlords needs, so if you need something different, we can help.Prices may vary depending on the services required and the number of properties instructed. Please contact us for a free valuation. We charge a nominal fee of £50 to renew a tenancy.
Each property has legal requirements to fulfil, such as gas certificates, EPCs and EICRs, and these will incur additional fees. In our Property Management Agreement we will include 3 annual visits to each property, and any extra visits requested will be charged.
How do you deal with maintenance issues? Do you charge any commissions on costs?
We do not add any commission to repairs needed during the tenancy. All invoices for repairs and maintenance are available for you. When you sign up to our Property Management services, we will take care of all of the maintenance issues for you. We will agree to a maximum amount we can spend before having to contact you. Our aim is not to bother landlords with minor issues, and instead we only reach out when absolutely necessary.
What is included in our Property Management Service?
As expert property management agents, Luxury Hub makes sure all property legislation is up to date. We also offer proactive income management, tenancy compliance monitoring, relationship management with tenants, and management of all essential utilities including electricity, water, gas, waste management, broadband/internet etc.
How do you choose utility providers for properties?
We always seek the best rates for utilities at our properties, and every year we research who will be the most cost effective Utility provider for your property.
Is the rent 100% guaranteed?
No, rent is not guaranteed as standard, but for extra security, we also offer an additional rent guarantee insurance service for an additional management fee.
How do we deal with non-rental or arrears payments?
Our dedicated accounts team is extremely diligent and professional, and we will contact any tenants failing to pay and organise arrears payments. With us as your property management company, you don’t have to deal with rent payments yourself. We have only had less than 1% of tenants not pay rent even during the COVID outbreak, which is an extremely low rate for any property management company.
How do we deal with nuisance tenants?
Our property managers have experience dealing with various tenant issues, with the support of a legal service team. We use this experience and will contact the tenant to work out the situation. If need be, we will implement legal processes in place. Without the need to worry you, however, we will keep you informed as and when necessary.
I want to self-manage but I need help finding new tenants for my property ?
Should you wish to self-manage your property but require assistance in sourcing an ideal tenant, we offer a Tenant Finder service to help with this. This service is perfect for landlords who wish to oversee the ongoing management of the property and collect the rent themselves.
Property Assessment For Landlords
What is our property assessment service?
Our property assessment service is for landlords looking to;
(1) improve the rental value of their investment property to give them an increased rental income, to make their investment property more attractive, and want to keep the length of the rental void to a minimum.
(2) To add potential capital value of your rental property. This is particularly useful if a landlord is looking to bolster the value of their investment property prior to a sale or remortgage.
(3) To assess the different rental models that might work for your property, including single let, HMO, serviced accommodation, long term company let, long term (guaranteed) rent, and more.
How much does a property assessment cost?
Luxury Hub charge £500 per property for assessments, but we will tailor this service to suit individual landlords needs. Prices do vary dependant on the services required and the number of properties instructed, please contact us for a free valuation.
Are there any costs upfront for property assessments?
Yes, we charge the cost upfront before the property assessment is carried out. This covers the cost of preparing the report, the site visit, and starting the analysis.
How long does it take?
A property assessment report will be available within 3-6 weeks after we have visited the property.
What will be checked during referencing?
With our tenant referencing process, we will check Identification, right to rent, credit checks, residential history, income and affordability.
How long does tenant referencing take?
The Luxury Hub tenant referencing service takes between 5 and 7 working days.
Why use Luxury Hub for tenant referencing checks?
Our tenant referencing partner company is amongst the top in the industry, with an average reference return time of under 48 hours. We maximise the efficiency of our process with a team of staff processing references based on five criteria:
- Right to rent
- Credit checks
- Residential history
- Income and affordability
Each member of the tenant referencing team has expertise in at least one of the five areas so we can be as efficient as possible in returning references quickly. Our external partner, Goodlord, uses information provided by the applicant as the basis for processing the reference and will compare all additional information that we are able to secure about the applicants against their initial submission in our overall recommendation. Best of all, it’s all completed online, to ensure a smooth experience for you, your tenants, and guarantors.
Can I charge my tenant for referencing checks?
No, landlords are not able to charge for tenant referencing, under the introduction of the Tenant Fees Act. The legislation which came into effect for England in 2019, classes reference checks as a Prohibited Payment. For more information download our tenant referencing guide below.
What happens If the tenant doesn’t pass referencing checks?
If a tenant has provided the landlord or Luxury Hub with completely accurate information but fails referencing, this will be classed as the letting agent or landlord pulling out of the application process and the holding deposit will need to be refunded by law.
Luxury Hub will bear all these referencing costs and they will not be charged to the landlord. Luxury Hub includes these costs in the letting agent fees for our services, so there is no additional cost to you.
If tenant referencing checks are failed, we will inform the tenant of the situation. The tenant can then be advised to use a guarantor or will be informed that their application will not be acceptable at all.
Can I still let the property to the tenant if they fail referencing?
If the tenant returns a poor reference, Luxury Hub may decide to use a guarantor instead. A guarantor is someone who will take responsibility for the tenant’s obligations if the tenant is unable to fulfil them, including the payment of rent. This is particularly common with student tenants, and we complete full referencing checks on the guarantor.
Can a landlord receive two candidates for one tenancy and decide which is better?
If Luxury Hub is in a situation where multiple applicants meet your criteria, we need to treat the applications with fairness. To manage these applicants equally we use these one of these 2 options:
- First come, first served – This might be the fairest way to sort multiple strong applications. Offer the property to the first tenant that showed interest, viewed, and successfully applied for it. Where it is the simplest method to sort applicants, sometimes the most qualified applicant doesn’t get the rental.
- Application strength – This is when we base your choice depending on the strength of an application. It means if one applicant has significantly higher income to the others then we may prefer them for their property. This process requires strong documentation and a file of reasons why one applicant is more qualified than other applicants.
The criteria for tenants can include multiple factors but it cannot discriminate between applicants, as this is illegal and against the Equality Act 2010 that protects tenants from discrimination. If the tenant has any inkling that discrimination has occurred, then you may be prosecuted. Discriminating against disabilities, sex, race, individuals on benefits, religion, sexual orientation, and age is illegal. This is why it is important that we use an online tenant referencing system and document any decision we make when choosing a suitable applicant for your property.
How do tenants pay for their rent?
All tenant must sign and complete a simple online payment form to authorise us to collect rent payment automatically on the first of the month, and the tenant cannot move in until this has been completed.
Long Term Guaranteed Rental Agreements
Who would my tenants be in a long term rental agreement?
Luxury Hub will find professional tenants who meet your requirements perfectly. They would be fully referenced, and credit checked, and most long term rental agreement tenants are companies seeking to house their employees working in the local area. Luxury Hub works with many companies on this basis.
How will I receive rent?
Rent will be paid via direct debit to your bank account every month.
What are the advantages of choosing long term rental agreements rather than a traditional letting agent to rent out my property ?
With a long term rental agreement, your rental income is guaranteed monthly regardless of the property occupancy (whether there’s problems with ongoing tenants paying the rent or if the property is empty for a period of time for example).
The tenant would generally also take care of any damage to the property as it is their responsibility to return the property back to the landlord in the same condition as when they took it. This all gives the landlord complete peace of mind. The landlord can also request a longer contract, being anything from 1 to 5 years.
What’s the difference between a long term rental agreement to a company and a rent to rent agreement?
The key difference is that with a rent to rent agreement, the tenant is referred to as the “agent landlord” and is authorised by the landlord to sub let the property.
With a long term rental agreement, the company let is a company housing their staff in the property, not subletting it.
Is it legal for the “agent landlord” to sublet the property?
Rent to rent is legal when it’s done with the full knowledge and consent of the owner and when the correct commercial contracts and other compliances requirements are in place. Luxury Hub ensures all compliance and contracts are in place to protect the landlord.
There are several ways to legally sublet a property, usually involving commercial or corporate tenancies, management agreements, and leases or guaranteed rent schemes, that’s where we come in to action to provide guidance and advice from our experts.
What are the benefits of a rent to rent agreement?
As the “agent landlord” has taken a lease of the property they become the acting landlord. This gives them the opportunity to find tenants for the property and they get to keep whatever rent the tenants pay. They generally allow more flexible arrangements with the tenants. For example, properties with multiple rooms can accommodate single tenants who rent a room with some shared areas or facilities. Luxury Hub always ensures that the “agent landlord’ is fully compliant with all rental rules and regulations.
What legal issues should the parties consider in a rent to rent agreement?
The agreement between the landlord and the “agent landlord” is of a commercial nature. So, they should enter into a lease of the property for the period of time the “agent landlord” is going to pay the Guaranteed Rent.
Also, the parties should have clear and unambiguous terms of business regarding the exact amount the “agent landlord” is due to pay and what they are responsible for in terms of management of the property and ensuring that the landlord’s property complies with property renting legislations.
Is rent to rent the same as normal property letting?
No, but although the rent to rent model does not fit the traditional definition of lettings, the letting agent does have a relationship with both the landlord and the “agent landlord”’. Luxury Hub helps find the tenants for the property for the “agent landlord” and they generally monitor that the “agent landlord” undertakes property maintenance and agreed repairs on behalf of the landlord. For all these reasons the work they do is very closely linked to the definitions of both lettings and property management work, so we recommend that all guaranteed rent operators join a consumer redress scheme.
What is a redress scheme? Why is it important to have redress?
It is a scheme where the landlord and “agent landlord” joins and any complaints are managed by an independent body.
Both the landlords and the” landlord agent” are consumers as the “agent landlord” is subletting and offering a service. If there is a dispute regarding the terms or the service provided, then both parties can escalate the concerns to an independent body. The independent body will provide them peace of mind dealing with letting the property correctly and professionally. Luxury Hub will ensure both parties are a member of a redress scheme and is a member of several schemes.
What are the legal points to consider on a rent to rent?
With long term rental agreements and rent to rent, you should consider:
- Is the property a single let or a house in multiple occupation (HMO)?
- Have all parties (landlord and “agent landlord”) joined a property redress scheme?
- Does the property have all licences in place for renting?
- Does the landlord’s mortgage allow this type of arrangement?
- Does the landlord have the correct insurance?
- Is the property leasehold?
- Will a deposit be taken?
- Is the letting agent also a member of a property redress scheme?
- Does the agent have the correct professional Indemnity Insurance?
Luxury Hub manages all compliance issues to protect the landlord and all legal considerations and is a member of a property redress scheme, and has all the required indemnity insurance in place.