Landlords

HOW IT WORKS....

Our process is very simple. We lease your property on a long term tenancy (3 years +) and become your tenant. If needed, we bring the property up to the requirements of our customers - corporate and professional tenants. We then rent the rooms on individual tenancies and take care of EVERYTHING. As we are your tenants you will only ever have to deal with us.

When renting a property there are lots of variables to consider, as you can see from the chart. Too many hidden costs eat away at your monthly profit. At the end of the day you ask yourself "why are you doing this in the first place?"

We start paying you a guaranteed rent as soon as the property is ready to let. This could be from the day we sign the lease or as soon as any refurbishment work is carried out. Please watch the video on our Home Page to get a more in depth overview of what we offer.

High Street Agent
Monthy Rent:
Annual Rent:
 
Minus:
Typical void period 1.5 months:
 
Tenant find fee @ 2 weeks rent:
 
Annual management fee @ 10%:
 
Inventory:
 
Annual Rent:
 
Your Monthly Profit:
£1,200
£14,400
 
 
£1,800
 
£600
 
£1,440
 
£100
 
£10,460
 
£872
£1,000
£12,000
 
 
£0
 
£0
 
£0
 
£0
 
£12,000
 
£1,000
vs

What demand is there for your service?

A: Cardiff is an expanding city with more national and international employers opening offices here, attracting more professionals from across the country and allowing more graduates to stay and find jobs in the city after completing University.  Therefore, the number of young professionals requiring affordable accommodation of a high standard is increasing.  The majority of shared houses throughout the City however have been mainly aimed at the student market.  With more purpose built student accommodation being built, Landlords who traditionally let their properties to students are finding it harder than ever to acquire good tenants, and the standard of the majority of house shares available are not to the levels that working professionals require.  That’s where we can help both Landlords and professional tenants.  There are no companies focusing purely on this sector within our City, so we are here to make shared accommodation for professionals easy for both Landlords and tenants.  We can guarantee a long term rental income for Landlords who may be finding it tougher to attract tenants, whilst at the same time helping to prepare their properties to the standard required for professional tenants.  Landlords receive constant income, security and an improved property, while professionals receive a higher standard of accommodation for an affordable price, with all bills included to complement their busy lifestyles.

What's your background?

A: The directors of the company have a combined experience of nearly 15 years of working in the property market and have worked in senior positions for the largest estate agency in the UK. With an indepth knowledge of both the sales and lettings market we established our own estate agency and quickly realised that there was a high demand for shared accommodation among young professionals in our city. The shared housing market in Cardiff is dominated by student properties, tenants and agents. Spotting an opportunity, we decided it was a part of the industry that needed professional attention to help provide professional and corporate sharers with the standard of accommodation they require, whilst at the same time giving Landlords a constant stream of income and removing all the hassle for them.

What are your fees?

A: Believe it or not we don't charge the landlord a penny! We source professional tenants and manage the property throughout the whole tenancy at no expense to the landlord. We make our money on the difference between the rent we pay you and the rent we collect from our customers. Regardless if the property is full or not you will receive the full rent on time, everytime!

What type of properties do you deal with and how quickly can you take a property on?

A: We consider all types of properties, but typically houses or flats with a minimum of 3 bedrooms and 2 or 3 reception rooms. We also prefer 2 bathrooms, or 1 bathroom and a separate w/c or shower room. We can make you a formal offer within 24 hours of viewing and once everything is agreed, if the property is vacant, we can send you the contract to sign on the same day.

What type of contract governs our relationship?

A: We provide a corporate rent guarantee agreement which has been tailor-made for our business.  This makes CK Residential your tenant for the period of your contract (typically 3+ years) and gives us the authority to manage the property on your behalf.  As for our tenants, they typically sign a 6 month Assured Shorthold Tenancy Agreement with us for a minimum of 6 months, but we generally find that most tenants stay with us for between 9 and 12 months as a minimum.

What sort of tenants will you move into the house?

A: We have been both Landlords and Agents for a long time and therefore really understand the importance of selecting the very best quality tenants for the property. All of our tenants are young professionals or post graduate students in their mid 20s and 30s, who are thoroughly vetted prior to moving in. After all, from day 1 we are responsible for dealing with our tenants on a daily basis and therefore we won’t move anyone into the property who we wouldn’t let our own home to. We also deal with all calls, emergencies and in fact ALL tenant issues meaning you can go about your business hassle free.

Do you pay a deposit?

A: As our agreement is a corporate rent guarantee we don’t pay a deposit, but our customers pay deposits equivalent to one month’s rent which we register with the Deposit Protection Service (DPS) for the duration of their stay, to safeguard against damage to the property.

How do I receive payments?

A: As contractually we are your tenant, we pay you the agreed rent directly from our bank account to yours on the same agreed date each month.  You will receive the full rent, on time, each and every month without fail, for the duration of our contract.

What if one of the residents doesn’t pay or pays late?

A:  We pay you directly and in full every month regardless; this does not make any difference to the rent we pay you.  When a tenant pays late or fails to pay then that is our problem.

Who pays the bills for my property?

A: We set up all the bills in our company name and pay them for the entirety of our agreement with you, whether the property is full or not.  This includes gas, electric, water, council tax and the T.V licence.  We also install broadband in the property in our company name, as well as paying for a professional cleaning company to carry out fortnightly cleans of the property for the duration of the agreement.  This ensures that no bills will end up in your name as they would during typical void periods during a normal rental, as well as making sure your property is kept in tip top condition at all times.

How is property maintenance handled and do you have your own tradesman?

A: We carry out all routine maintenance up to the cost of £50.00 per job and this is in our contract with you.  We will of course notify you and keep you up to date with any small maintenance that we carry out during our agreement with you.  For larger works, such as replacing a boiler or problems with the central heating system, electrical works, or problems with the water supply to the property then you will be financially responsible for these as per a Landlords normal obligations.  However, we can help arrange for the works to be done and prepare competitive quotes for you.  You will also need to pay for routine things like gas safety certificates, but again we can organise these for you and send you the invoice once the job is done.

Yes, we have a team of fully qualified tradesman that we use for maintenance and general repairs.  They can also offer competitive quotes for larger works that may be required.  However, if you have your own and would prefer to use them, that is fine also.

What happens if one of your customers damages something in the house?

A: Again, this is our problem as we are your tenant.  We will cover the cost to get it fixed immediately, and then we will charge our customer.  You will only be responsible for normal Landlord maintenance costs as mentioned above.

How much wear and tear can I expect as it will be a shared household?

A: Lots of Landlords can be put off by the idea of having sharers in their property as they believe the house will suffer more wear and tear.  This isn’t the case when working with CK Residential, and significantly, after three years of being managed by us a property tends to be in better condition than it would have been had it been let by an estate agent.  This is because of our regular maintenance regime, which includes immediate repairs when small maintenance is required, along with the property being professionally cleaned on a fortnightly basis throughout the three years.  Furthermore, we tend to upgrade the property with more modern furniture to meet the needs of our customers meaning your property is likely to have received added value during our time working together.

Do you carry out inspections?

A: Yes, we conduct formal inspections every three months.  However, our cleaners keep us informed on the condition of the property on a fortnightly basis and if any problems are reported we address them immediately.  Our staff also carry out informal inspections every time they visit a property, whether for a viewing or to take meter readings.  If you wish, you are welcome to visit the property with us on our formal inspections to make sure you are happy with the way we are managing things.

What happens if CK Residential goes under during the contract period?

A: Hopefully this is just a hypothetical situation, but it’s an important question to answer.  As per our contract with you, if we go out of business, the rent from our customers will revert directly to you, and their deposits will remain with the Deposit Protection Service (DPS) in case there are any damages or unpaid rent.

What happens if I want to end my contract with you or vice versa?

A: We ask our Landlords to give us a minimum of 6 months notice if they do not intend on renewing the 3+ year contract at the end of the term, and we will do the same.  We ask for this as we sign our customers up to 6 month tenancies to begin with, and if someone has recently moved into a property this gives us enough time to end their tenancy and allow them to find alternative accommodation.

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