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42 Lytton Road, 

New Barnet, London, 

EN5 5BY, UK

iinfo@lettingoptions4u.co.uk

+44 (0) 208 088 1311

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FAQs

 

About Letting Options 4U

Are we a Letting Agent?


Letting Options 4U is not an Letting agent. We work with landlords to provide high-quality professional houseshares by renting properties directly from landlords or managing HMO properties for Landlords. We provide accommodation to corporate and professional tenants.




Are we property managers?


Yes. We either manage HMO properties or sign a fixed-term contract factoring in all aspects of property letting and maintenance; normally for a fixed-term of 3-5 years.




Why did you choose to focus on shared accommodation and not regular lettings?


Home shares are quite the norm for young professionals and people looking for shorter stays without the hassle of all the normal terms of engagement; especially those who are relocating on work contracts. Letting Options 4U are aware this is very labour intensive way of providing lets however feel there is a certain need for this service, as there isn’t a lot of focus or property professionals who only specialise in this area.





Suitable Properties

What types of properties do you deal with?


We rent all types properties from studios to large houses and even blocks. We have tenants looking for different types of rooms and home shares.




What areas in London do you cover?


We have strong relationships 3 fantastic boroughs across North West London. We are cover Harrow, Brent or Ealing area. Our team have local knowledge and are able to provide a personalised service to our tenants and landlords.

If your property is in North West London, please get in touch and we will be happy to provide a FREE valuation.




What happens if a property needs work or an HMO licence?


We have built up relationships with councils so we can secure a HMO license on your property if required. We will do the leg work for you, liaising with the council, organising visits and project managing any required license works.

If your property requires painting, decorating, furnishings, etc we can take are of this for you at our cost. We will also return the property in great condition at the end of the period





Guaranteed Rent

For the Guaranteed Rent service, how do you work out the rental amount?


We rent from you for a fixed-term tenancy, paying you a guaranteed rent at the market rate or sometimes higher. We value properties based on factors such as: overall condition, number or rooms, parking facilities, location and total size.

The process is simple and leaves you with a hassle free solution for your property. We do the following as standard:

  • We arrange a suitable time to visit your property to conduct a survey and valuation. This gives you the opportunity to ask any questions and understand the process in more detail.
  • You will receive an email with all the information and quotes so you can read through the terms and make sure everything is in order.
  • As soon as everything is agreed, we can send over your agreement; sometimes even completing everything on the same day!




What is Letting Options 4U responsible for during the 3-5 years?


We are responsible for paying you the set monthly rental fee each month. We fill the house with our professional tenants, we ensure all of the utilities and council tax are paid, we hire a cleaner and a gardener (where applicable) to watch over the property and take care of the communal areas. We are the first port of call for the tenants if they have any problems. We act as the landlord and take over all of the landlord responsibilities so that you don’t have to worry about any of it.

Because our tenants expect the highest quality and standards we generally need to spend money up-front in order to make the house suitable. There will be no cost to you for any interior upgrade work, decoration or furniture.




Am I responsible for anything at all during the 3-5 years?


As a landlord, you will need to make sure the exterior/structure of the building is sound. Letting Options 4U is not liable for repairs to these parts of the home (for example, roof tiles and structural soundness).

As a responsible landlord, you should make sure the building is insured with the appropriate HMO landlord product, and that you have adequate safety and environmental certificates in place (e.g. Gas safety, Electrical Safety, EPC). The landlord should also be responsible for ensuring there is heat detectors in the kitchen, hard wired smoke alarm, fire doors and fire boarding the basement if there is one.

Finally, if you have one, it is your responsibility to look after your own mortgage and building insurance.




Is your Rent Guarantee a type of sub-letting?


No. Letting Options 4U do not have an Assured Shorthold Tenancy (AST) with the owner of the property. The AST is the contract that disallows sub-letting and is not appropriate in this situation. The contract that we use has been drawn up by a solicitor specifically for these types of arrangements.




What are the benefits of Guaranteed Rent for landlords?


No void periods, no rent arrears, no commission, no set-up fees, no renewal fees or any other “hidden extras”. No need to deal with the tenants at all. We can be flexible with payment dates, contract lengths, and start dates.




How does it compare with other "Guaranteed Rent" offers?


There are a number of different Guaranteed Rent services on the market. Essentially, there are four different models:

1. Letting Options 4U Guaranteed Rent service

2. Agents acting on behalf of a local council

3. Guaranteed Rent protection insurance

4. Rent to rent agents or individuals

5. National or city-wide service

It's vital for any landlord to understand exactly what is and what isn't being guaranteed by their lettings service. Pleaseclick here for more information.




How does Rent to Buy work ?


Rent to Buy is very simple:

  1. You agree terms with us: the amount of the monthly rental paid we pay you for use of the property during the rental period, exact purchase amount, final date purchase must be completed by, etc.
  2. Once the agreement is drafted by our solicitor you would have time to review the contract with your solicitor (we recommend using a solicitor that is familiar with these transactions).
  3. We take over the management of the house and you move on with no day to day concerns or tasks for the running of the property




What are the benefit for letting Options 4U Guaranteed Rent vs a normal Letting Agent management service?


See the savings for yourself!





HMO Management

For the HMO Management Service, what are your fees and what does it include?


We provide Landlords a unique HMO service in London for Landlords that don’t have time or know-how to manage multi-let properly. We do the following as standard:

  • Marketing: Rental Evaluation, advertisement via Our Portals and tenant Viewings as and When Required
  • Property Management: Repairs Management, weekly Property inspection, quarterly room inspection & Landlord schedule of condition
  • Rent Collection, Monthly Rental Statements & Rent protection
  • Tenancy Management: 24/7 Tenant Enquiry Handling, right to rent checks, reference checks, signing tenancy agreements, inventory of contents, check in & check out.
  • Eviction Cover
  • Fire Alarm Testing, Emergency Light Testing

We can also provide additional services which are options at extra costs.




What are the benefit for letting Options 4U HMO Management vs a normal Letting Agent management service?


See the savings for yourself!




What additional services do Letting Options 4U provide if a full HMO Management is not required.


Letting Options 4U can offer a number of added value services to Landlords. These include:

  • Tenant finding,
  • Weekly inspections and cleaning
  • Community / social packages for tenants
  • Garden and property maintenance
  • EPC, Gas, Electric certification
  • Fire risk assessments
Please contact us for further information.





Tenancy Management

How do you find and evaluate potential tenants?


All tenants are thoroughly vetted and must pay credit/security checks and referencing as follows:

  • Previous landlord reference
  • Proof of employment (including their employment contract or pay slips)
  • Right to rent checks where needed
  • Visa check (if applicable)
  • Proof of address via bank statement or utility bill

We feel that our ability to assess individuals suitability is very important so a lot of training goes into ensuring the tenants are accurately profiled and placed in the right accommodation for them.




Do you accept students?


We very occasionally accept mature students and post graduates who are seeking quiet surroundings to carry out there studies.




What if a current tenants move out or we need to rent a vacant room?


Again we take on the responsibility to rent out rooms so if they are occupied or vacant, we will pay the rent to the landlord regardless.




How does Letting Options 4U manage its tenants?


We have very stringent vetting process for Tenants and once we have found the ideal tenant we try to ensure the tenant stays for the longer time possible. Tenants are provided the following as standard:

  • Property Manager to answer all queries 24/7
  • Onboarding packs providing information on local area and property.
  • House messaging groups to communicate and maintain friendly environment.
  • Email notifications for important information or requests
  • System for reporting and monitoring issues and queries
  • Vouchers and free gifts