FAQ'sWhat types of properties do you look for?
We’re looking for any property from 1 bed flats to 6+ beds Does the property have to be in a good decorative condition?
No. We can decorate the property to bring it up to our standards, and if it needs further refurbishment we can discuss and agree this with you.
Would you prefer furnished or unfurnished properties?
We would consider furnished or unfurnished properties. Whether any furniture could be utilised or whether we would ask you to remove can be discussed when we view the property. Do you pay a deposit?
We do not pay a deposit. Instead of having a deposit sitting in an untouchable bank account for the duration of our long contract (usually 3-5 years), we invest the equivalent amount if not more into the refurbishing and furnishing of the property to a high standard, and we provide a commitment to the full cleaning and reinstatement of your property to the same or higher standard than pre-term. This provides you with a smooth transition back into the rental market without further cost or delays to you. Who are your tenants?
We specialise in accommodating the following types of tenants; - Companies looking for accommodation for their staff allocated to projects or to assist with workforce migration, for stays of any duration
- Fully vetted working professionals
We don’t allow children or pets, and due to the nature of their work the tenants often work long hours so their time in the property can be quite minimal. Some tenants also only require the property for the working week which again means minimal footfall and therefore less wear and tear. Do you charge a fee?
No. We do not charge any fees or commissions. If you already have a letting agent, you will pay them as usual and we will work with them but again you don’t pay us any fees. How much rent will I receive?
The amount of rent offered will depend on the condition and suitability of each property. Following a visit to your property you will be notified of the rent we can pay to you. This will be a guaranteed amount paid to you each and every month throughout the lifetime of our agreement, regardless of whether there is a turnover of tenants. Importantly for you, we will cover day to day running costs including maintenance and repairs, and we are responsible for finding and managing the tenants, leaving you free to enjoy your income from the property hassle free!
Without you having to cover tenant finding fees; tenant checking fees; inventory fees; day to day maintenance costs; renewal of contract fees; and decorating costs at the end of the term, this will result in an enjoyable passive income. For further peace of mind, we will always return your property to you in the same (if not better) condition than we took it in. In short - worry free, hassle free guaranteed rent AND TOTAL PEACE OF MIND KNOWING YOUR INVESTMENT IS IN SAFE HANDS. How do you make your money?
We make money by renting your house to individual professional tenants or through businesses requiring accommodation for their staff, providing quality accommodation with flexible length terms. We put in a lot of time, effort and funding into cleaning and looking after the house on a more frequent basis, similar to a hotel. All this allows us to charge higher rent. Is this sub-letting?
No. Orchid Property Solutions Ltd will have a management contract with you instead of an Assured Shorthold Tenancy (AST), just like a letting agent would. We would then have ASTs direct with the tenants. What am I responsible for?
You are responsible for the structure and exterior of the property and the heating system, and all should be in good order when we take on the lease. Orchid Property Solutions Ltd will not be liable for repairs to these areas, for example issues with the boiler/leak to the roof. You will also be responsible for the legal obligations of a landlord – e.g. EPC, gas safety certificate (annual), electrics check (every 5 years), which we can help to arrange if you so wish. As for every responsible landlord, you should also make sure the building is insured, and if you have one, the mortgage must be managed by yourself. Will I have to deal with the tenants?
We will deal with the tenants directly, so once the contract is signed we will deal with everything leaving you to relax and enjoy a hands off investment.
How do I receive rent payments?
We will set up a standing order to your bank account, so that the rental payments are paid on the same day of each month, every month without fail. What if the tenants don’t pay?
In the unlikely event that our clients don’t pay (after careful vetting), then it is our problem to deal with. You will be paid your guaranteed rent every month on time regardless of any issues we may have with our clients. Will you carry out inspections?
We will undertake regular inspections, at least once a month. Our cleaners will also visit the property regularly, who will report any concerns to us immediately, however small. This means that any potential issues can be dealt with quickly and efficiently. As a shared household, will there be a lot of wear and tear?
Landlords often have misgivings about potential wear and tear in shared households, and we can understand that concern. However as our clients are all professionals, due to their work commitments they often work long hours so their time in the property can be quite minimal. Some clients also only require the property for the working week which again means minimal footfall. We don’t allow children or pets, and we provide high level maintenance so keep the property in very good order. Therefore for all these reasons, in reality there is usually significantly less wear and tear than from a family. Would you consider taking on more properties from me/my portfolio?
Of course! We’ll view each property individually, and as long as each property meets our criteria then we’d be happy to put an offer to you. Please contact us to discuss further.
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