How our first Landlord in Southend-on-Sea became much better off
The first Landlord that we worked with in Southend-on-Sea had been looking for a tenant for a number of months and the profit he had made was slowly being eroded. This is probably why he was willing to explore our service even though our Franchise Partner, Anthony, had only just started his business. Anthony and his first Landlords business relationship was signed and sealed April 2018.
I think the Landlord was a little surprised to find out that we as the Franchise Support business and owners of the founding ROOMS® business were willing to be guarantors to back up Anthony’s offer of a guaranteed rent for 5 years.
Our model is simple we work with residential landlords, renting their properties, on a comparable monthly rental that a family/single tenant would pay. We agree to maintain the internal part of the property, subject to fair limits and with their permission we rent out room by room as shared accommodation.
Guaranteeing our Landlords rent
The layout, size, decor and style of the extension on this Landlords property meant that it had lost that family home feeling making it less appealing to a family looking to settle in. This was a a major factor in his struggle to let his property for the rental he wanted. On the other hand this property, once refurbished, would be perfect for shared accommodation and so we were able to offer the rental this Landlord required.
To make sure that his property was to be the high quality shared accommodation we pride ourselves on, our Franchise Partner:
- undertook some redecoration inside of the house, generally sprucing it up
- put in a stud wall to make the 5th bedroom and create a separate dining area
- added a window for the 5th bedroom
- Installed and upgraded to all the necessary fire and safety requirements for shared accommodation
We return the property back to its original state or better at the end of a contract with our Landlords.
Now Anthony’s Landlord is enjoying his guaranteed rent, benefits from having a refurbished property, no longer needs to be involved in maintaining his property and no longer needs to find and look after tenants.
To find out if we can make your properties more profitable while becoming hassle free call our Head Quarters on 01892 536576