Why? Because your letting agency makes more money from you by having a higher turnover of tenants. If they put forward the corporate company’s offer, your property would become corporately managed for free, with a fixed, guaranteed rent for three-five years, and no fees and maintenance charges….meaning you gain in many positive ways, but the letting agency does not. Which is why they will continue to lie to you and not disclose such offers.

We have interviewed hundreds of landlords and asked them the same question:

“What’s the most profitable way to rent out your property, whilst avoiding the stresses of being a landlord and getting maximum security?”

The answer? “Find a corporate tenant”, and here’s why!

What is a corporate let?

A corporate let is when a company secures a property on a long-term basis via a management agreement (not sub-letting). The company pays a higher rent than what’s achievable from the landlord, or a high street letting agency. In addition to this, the rent is guaranteed during the fixed term, usually a period of three-five years.

Example. Traditional renting through a letting agent

Market rent: £1,250 pcm / £15,000.00 pa

Agents tenant finding fee: -50% of the 1st months’ rent £625.00

Management fees: -10% pcm at £125.00 pcm / £1,500.00 pa

Inventory report: -£65.00

Deposit protection admins fee: -£49.00

Voids: -£904.00 pa

(22 days on average / £904.00 pa, according to the findings by insurer Direct Line for Business)

Total rental income over 12 months (depending on the tenants paying the rent £12,761.00 / £1,063.41 pcm.

Loss of -15% of your hard-earned rental income in agent’s fees and voids!

Market rent paid for 3-5 years: £1,250.00 pcm / £15,000.00 pa and no fees whatsoever.

Furthermore, when using a corporate letting company the rent is paid no matter what, even if the property is left vacant or the tenants themselves don’t pay the rent.

The property is also managed for free and all of the utility bills and council tax standing charges are paid, even when vacant.

In addition to this, should the need arise, the costs to evict a problem tenant are paid by the company, and rent will still be paid during an eviction.

Is my property suitable as a corporate let?

We approached Brighton based Liquid Properties Corporate, who can help those who want to let out their property as a corporate let, including those who might be worried that their home doesn’t meet the criteria. They said: “We are working with some great Landlords who want a higher rental return without spending any of their money preparing their property for the corporate market, which is why we partner with them and invest up to £8,000 of our own funds preparing their properties, and we lease them back long term.”

To request your free corporate let valuation and discover how much more you would earn, call Liquid Properties Corporate on 01273 634 868 or email corporate@liquid-properties.com

Source: By Gemma Hicks-Logan – The Argus Newspaper