12th January 2018
THE CURRENT COMPANY TENANCY AGREEMENT
The landlord currently lets both properties on a three year 'company tenancy agreement', which both come to an end in 2019, in time for a student let for the 2019/2020 academic year if the new owner decided to take this route. This means that the current company let the rooms out themselves, and deals with all of the lettings at no extra cost to the owner. The company let and manage, and carry out a certain amount of maintenance, as well as the cleaning, inventories and check-ins/check-outs etc.
This means for this three year period the owner is very hands-off, doesn't have to worry about void periods, or pay someone to manage the property/manage it them self. As an agency we let student properties in this area, and feel that either continuing with a company tenancy, or letting to students would both provide good sources of income. The monthly estimated income for students comes from comparisons of properties we've let for the 2018/19 academic year for the same price (equal to £90pppw exc bills) just a 0.1 mile walk away! There would even be scope to achieve more than this subject to a very high-end finish.
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