1 – What are Stonish Properties responsible for?
We are responsible for paying you the set monthly rental fee each month. We fill the house with our professional clients, we ensure all of the utilities and council tax are paid, we hire a cleaner and a gardener where required its need to watch over the property and take care of the communal areas. We are the contact point for the clients if they have any problems. We act as the landlord and take over all responsibilities so that you don’t have to worry about anything.
Because our Clients 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.
2 – Will I still make the same amount of money as usual?
Yes! You tell us how much you want to get paid! We generally pay about the same amount of money as you would earn if you were to let your property normally and we guarantee payment every month. The exact monthly amount and the time period will be agreed between us.
3 – Is the owner of the property (Landlord) responsible for anything at all?
As the Landlord, you will need to make sure the exterior/structure of the building is sound. Stonish Property is not liable for repairs to these parts of the buildings (e.g. roof tiles and structural condition). 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 (Gas Safety, Electrical Safety, EPC). You are responsibility to look after your own mortgage, if you have one.
4 – How do Stonish Properties make money?
We do not charge you any fees or commissions. We earn our commission from our Clients that we put into the property. Because we work with local companies to rent to their professional employees and provide quality housing with flexible length terms, we are able to receive a mark-up on the monthly rent. (We are hardworking business striving to deliver the best services for you).
5 – Is this sub-letting?
No. We do not have an Assured Shorthold Tenancy (AST) with the you – 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.