Much like our landlord services, we understand a ‘one size fits all’ approach doesn’t work for everyone. Great tenants don’t look the same on paper. With alternative options becoming more popular, being flexible will help ensure you secure new tenants, and protect the future of your investments.
Zero deposit option
We are partnered with Reposit, a tenancy deposit alternative provider.
If you consent to the Reposit scheme your property will be promoted with their ‘no deposit option’. This will mean that we’ll give any potential tenant(s) a choice between paying a traditional cash deposit (5 weeks) or a smaller ‘Reposit Service Charge.’.
If Reposit is chosen by the tenant, you will be added as a named beneficiary to their insurance master policy. This insurance is underwritten by Canopius, a top 5 Lloyd’s of London insurance company. This covers you up to 8-weeks for any combination of rent arrears, damages and cleaning. It is essentially a direct replacement for a traditional cash deposit.
The tenant remains liable to pay for any dilapidations or rent arrears at the end of the tenancy. If the tenant defaults on their agreement, Canopius will pay-out, hence the 8-week cover is completely secure at all times. Reposit may issue a CCJ to the tenant if they default. Reposit mediates the entire end of tenancy process. A landlord on fully managed services will therefore never need to interact with the insurer and make a claim.
The main benefits to you:
● More cover the government has recently capped traditional deposits at 5 weeks, Reposit gives you 3 additional weeks of protection
● Quicker payouts at end of tenancy if a claim goes all the way through to arbitration, Reposit will obtain a final verdict much quicker than the traditional deposit schemes
● Decrease void periods properties advertising with a ‘deposit free option’ will typically let quicker. Reposit being advertised has been shown to increase tenant demand.
For more information click here
Company guarantor
Housing Hand’s Rent Guarantor Service is an option available for tenants who cannot provide a qualifying UK guarantor who meets our requirements.
Advance rent
In the event that the tenant is unable to provide a qualifying UK guarantor, some tenants opt to pay advance rent in place of a company guarantor.
The tenant would pay an advance payment of 6 months rent in full, up front, before moving in. This would be held and used as the last 6 months rent payments. Upon moving in, the tenant will pay normally on the monthly rent due date alongside the other tenants until the last 6 months of the tenancy. For the remaining 6 months, the tenant will stop paying their rent on a monthly basis and the advance rent would be transferred in monthly instalments in place of this.
The tenant would still need to pass all referencing checks and would pay a damage deposit or take out an alternative deposit option.
Tenancy Extras
Over the years we’ve developed relationships with trusted third party companies to provide additional services alongside a standard tenancy. These have proven to be popular with tenants, making your property more attractive to applicants. All provide great benefits to both tenants and landlords.
Bills included packages
Setting up utilities can be frustrating at the best of times, even more so if you’ve never had to do it before. With the current energy crisis, bills included packages give tenants peace of mind that their utility prices will be fixed for the duration of their tenancy. Our package prices include unlimited usage of electricity, gas and water, and can be tailored to add Virgin Media broadband or even a SKY TV bundle!
It’s proven to be very popular! This is reflected in national research conducted by Accommodation for Students where 70% said they consider the inclusion of bills in their rent very important. Research by Natwest, suggests half of students find managing their budget adds to the stress of living away from home and just under a third of students don’t actively budget at all. Offering bills included packages removes the added stress and makes budgeting much easier.
Bills included packages carry the added benefit to the landlord that bad debt won’t accrue against their property. Additionally, we’ve seen a significant decrease in tenant arguments about utilities and tenants are no longer afraid to put the heating on over the winter months, which reduces the risk of mould and condensation problems arising.
By removing the stress for tenants and guarantors, whilst protecting landlords properties, our bills included packages have proven to be a winning formula for all involved. If you would like to know more about our packages then please speak to one of the team.
Contents insurance
*For managed properties only
Contents insurance is so important, but it is something tenants often forget to organise, which can be devastating when the worst happens. Tenants items are covered inside their accommodation against fire, flood and theft. Plus, it includes tenants liability which would cover your fixtures and fittings up to £5000. We have been working with Endsleigh Insurance for many years, they’ve recently redeveloped My Endsleigh, launching a new app and services.
All students using My Endsleigh will have claims support at the touch of a button. In addition, they will have access to a 24/7 wellbeing helpline, giving access to BACP accredited counsellors no matter what time of the day or night it is. My Endsleigh comes with a digital Rewards Wallet, which students can fill with cash rewards from their normal student spending. Students will have access to over 3,000 organisations at any point with much more to come. They will also be automatically entered into a chance to win £50 a week for every week of their University year. Should any students wish to extend cover to protect gadgets when outside of the accommodation, they will also have exclusive access to a 15% discount*.
If you would like more information, copies of supporting documents such as the insurance certificate, or policy wording, please don’t hesitate to get in touch!
Gardener Included
*For managed properties only
The provision of a monthly gardener means tenants do not have to maintain the garden themselves. Where tenants are responsible for maintaining the garden we have witnessed many gardens being neglected as tenants do not often have their own gardening equipment, the time, knowledge or inclination to care for it themselves. This can result in your property looking unsightly, neighbour complaints and even attracting pests and vermin. Further action can be taken by the council with could result in fines and jeopardising your HMO licence.
Providing a monthly gardener through Coapt means the garden is consistently maintained, resulting in happy tenants and neighbours alike. There’ll never be a gardening invoice at the end of the tenancy to be deducted from the deposit, as the tenants pay for this service as part of their monthly rent.
Get in touch
If you have any questions, or simply want to pick our brains, please don’t hesitate to ask!
