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Is this an insurance policy?
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No. Our service will provide you with a guaranteed rental income each month. But there is no insurance premium built into the agreement. There are companies out there which offer a rental insurance policy, but we would strongly encourage you to familiarise yourself with the terms and conditions before committing to such an agreement.
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Who will actually live in my property, and how do I know they'll take good care of it?
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MHBP only aim to place professional and corporate tenants in our properties. Our in-depth referencing process ensures that our tenants are not only reliable individuals with high living standards, but will also embed themselves well with their fellow housemates. Our aim is to ensure all professionals have high quality accommodation which is well maintained. Leading to longer term tenancies.
On top of that, we go one step further. We carry out regular inspections to ensure that tenants are keeping their end of the deal and looking after the property. We will perform quarterly inventory and condition checks which will be documented and readily available for the owner to view at their convenience. We also send our cleaning team in once a fortnight, who will inform us of any damage. All of this allows us to stay on top of maintenance, and address any issues quickly.
Of course our landlords are welcome to accompany us on these inspections. But most prefer to leave the work to ourselves.
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Will I get the same amount of rent as if I used a traditional agent?
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Occasionally we’re able to offer more than the market rental value of your property. We assess each property individually, and take on the cost of refurbishments, lettings and ongoing maintenance so you don’t pay a fee based on the rental percentage or acquisition of new tenants. Instead, we agree a set rental value which guarantees you a monthly income with no voids or missed income when properties are vacant. We can’t work with every property, so get in touch so we can assess whether this service can work for you.
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What if my circumstances change, and I need to sell the property?
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We understand that circumstances can change. That’s why we ensure the right level of flexibility is considered and documented in our agreement. We take the time to work through our agreement with you, and create a tailored solution which works for everyone.
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This sounds like sub letting, is that right?
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No. This refers to agreements made via an AST (Assured Shorthold Tenancy). These agreements are not suitable for this type of arrangement as they’re designed to cater for individual tenants. Our agreements are drawn up by our solicitors who specialise in property contracts, and are able to build in the right level of flexibility so that our landlords receive an offer which is tailored to their needs and circumstances.
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Is it for me?
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This depends on the level of personal responsibility and risk you are willing to take on your property. Our clients tend to prefer to enjoy the profits and be less hands on. Our service is more suited to these types of landlords as we offer the financial stability without the hassle of daily management.