Landlords, developers and investors will likely be asking the following questions about accommod8 and our lettings and management service.
Why should I instruct accommod8 to manage my property?
accommod8 provides student landlords, developers and investors with a comprehensive letting and property management service. The trained agency team have extensive knowledge and experience in this increasingly competitive and regulated part of the private rented sector.
Are my interests and property assets safe with you?
accommod8 is licensed and regulated by ARLA Propertymark, the body promoting standards and regulating the UK residential lettings industry. We are required by ARLA Propertymark to maintain strict financial standards and codes of conduct.
What am I getting for the management fee?
Our management fees reflect the intense and ‘hands on’ nature of letting and managing student accommodation successfully and professionally. We invest in resources, staff and operatives to ensure regulatory and industry requirements are fully complied with and to allow us to manage your property assets to the highest standards.
We also invest heavily in the marketing of our managed properties to ensure we attract enquiries from prospective tenants. Our full letting and management service is charged at 11% plus VAT.
What else do you charge for?
The property management fee covers all letting and management activities. We don't charge extra for things like inventories and inspections - its all included in the management fee!
Why don’t you offer a letting only service?
Due to the complex nature of the student accommodation sector and our regulatory obligations, we only offer a full letting and management service. Full details of our services can be found here and our terms of business are outlined in the Property Management Contract, issued on request.
Why do you only rent on joint tenancy agreements?
Joint Assured Shorthold Tenancy Agreements provide the best safeguard for landlords as they ensure properties are fully rented and occupied for the term of the tenancy. A group of friends renting an entire property is the best and safest solution for a harmonious tenancy, minimising voids and encourages rent to be paid on time.
What are students looking for when choosing accommodation?
Today’s students are looking for the best value for money but will also pay more for higher standards and a location in the popular student areas. The most important features in any student accommodation are location, quality of decoration and furnishings, security, inclusive rents, broadband provision and proximity to services and transport links.
How much rent will I get?
Rent levels are dictated by the market. The student accommodation sector in Liverpool is very competitive as there is an oversupply of accommodation, varying standards and a wide choice of property. Property in a good location and of a high standard will always be more appealing even if the rent is higher. We always endeavour to secure the optimum rent for managed properties.
When will I get my rent?
Under our standard terms of tenancy rent payments are due from tenants on three dates in each tenancy year - 1 October, 1 January and 1 April. You will receive the balance of your rent minus deductions for management fee, repairs and maintenance and other direct charges at the end of each payment month in line with our business terms.
Why can’t we use our own contractors for repairs and maintenance?
Due to the expectations of student tenants and our legal obligations to respond promptly to repairs and maintenance issues it is not feasible to allow client landlords to use their own contractors. We must issue instructions to contractors and manage the response to ensure repairs and maintenance is carried out to agreed service levels and timescales.
What do I have to provide in my property?
Student properties must be fully furnished with sufficient furniture for the number of tenants. All furniture and fittings must be modern, robust and fit for purpose. For more details refer to our Student Accommodation Fitness Standard and Fit Out Price List for a list of the typical items that should be provided.
Which regulations apply to student accommodation?
The provision of student accommodation is heavily regulated to ensure the safety and welfare of tenants. Most regulations and standards relate to housing conditions and safety including gas appliances, electrical installations and fire safety provision. In recent years, new regulations have centred on deposit protection and HMO licensing, requiring properties to be registered and professionally managed.
Should I inspect my property regularly?
We recommend you inspect your property annually during the quieter summer months. This will allow you to assess the current condition and establish future expenditure on maintenance, improvements and refurbishment.
For detailed information and guidance about student accommodation and being a student landlord we recommend you read the ANUK/LGA Landlords Handbook