Whites Estates offer this service to landlords who wish to manage their properties on a day-to-day basis but would not like to have the financial management of rent collection.
We can register the deposits in the government backed DPS scheme (Deposit Protection Service) or TDS (Tenant Deposit Scheme). We typically require five weeks rent as a deposit, in line with legislation. We will collect the first month's rent and deduct any relevant fees forwarding the remainder of the balance to you.
We will set up a standing order when we arrange the first month's rent with the tenant. The landlord will be paid by bank transfer directly into their account and we will provide monthly statements each time the rent is processed. The statement will show a breakdown of all income and expenditure for that period. We would review the rents annually with the landlords and tenants.
Houses of Multiple Occupancy (HMO)
Whites have an extensive knowledge of HMO licensing, and years experience in managing HMO properties. We offer free advice to landlords that are looking to purchase an HMO property and offer a fully managed service or rent collection service.
HMOs require a higher standard of management and time. They require more of initial investment to meet health and safety regulations and some types of HMOs require licenses by the council. However, they are far more profitable to run compared to other types of residential lettings, with an increased rental income of two to three times.
What constitutes a House in Multiple Occupation? HMO’s are a properties inhabited by three or more tenants who are not from the same family who share one or more basic amenity, such as WC, bathroom facilities, and cooking facilities.
All HMOs, irrespective of landlord involvement, are subject to Management Regulations and inspections under the Housing Health and Safety Rating System (HHSRS). These regulations ensure that properties are managed in adherence to specific safety standards. The license granted for such properties will remain valid for up to three years, after which renewal will be required.
