Shared Accommodation with
Brodie Management Ltd

Introduction & Background

Homeownership in London has, in recent years, become increasingly out of reach and for many young professionals, even renting individual flats is proving extremely expensive.

As such, Brodie Management has identified a need to provide good quality shared accommodation in London and the Home Counties.

We aim to relieve a Landlord of the strain and stress of managing their property, while providing young professionals with a comfortable living space.

Our team has a wealth of experience, managing both commercial and residential properties throughout Greater London since 1990. The property portfolio under the management of our Company Group is illustrated on the website of our parent Company – Brodie Investments Ltd.

Working with Brodie Management Ltd

What you can expect?

A Guaranteed Rental Agreement. Put simply, guaranteed rent and peace of mind for the duration of the contract.

We do not operate as an Estate Agent and therefore we will not ask for a commission fee from you. Rather, we rent the property from the landlord and provide shared accommodation to professional tenants.

We sign a fixed long-term contract (either a commercial lease or management agreement depending on your situation) with the landlord (3-5 years), effectively becoming the tenant and taking over responsibility for the property.

During the fixed term, we pay a guaranteed monthly rent to the landlord, irrespective of whether the property is vacant or occupied. Furthermore, we will arrange the upkeep and maintenance of the property during the lifetime of the contract on the landlord’s behalf.

LANDLORD BENEFITS

  • • Guaranteed Rent

    Guaranteed rent paid every month for the duration of the agreement.

  • • No commission fees or hidden charges

    We receive payments directly from our professional tenants and therefore there is no charge to you for our service or management fee to pay.

  • • No void periods

    Whether the property is fully let or vacant, you will get paid for full occupancy from the first day our agreement is signed, subject to pre-approved refurbishment works.

  • • No Council tax or bills

    We pay all taxes and utilities bills. These costs are factored into the all-inclusive rent paid by our professional tenants.

  • • No maintenance costs

    We provide a comprehensive maintenance service and deal with all tenant requests.

  • • No calls from tenants

    We take care of all of all tenants calls, requests or complaints.

  • • Property maintained to the highest standard

    We understand some properties may require some refurbishing work or modernisation and will undertake to complete this (with your permission). Should you decide not to renew on expiry of the agreement, the property will be returned to you in equivalent state, or better than its original condition.

FINANCIAL BENEFITS – A typical example

Brodie Management Ltd Vs. High Street Letting Agent

  Using an Agent Brodie Management
Monthly Rental £2,000 £2,000
Annual Rental £24,000 £24,000
 
Less
Typical void period
(1.5 months)
£3,000 £0
Annual Tenant
Finding Fee (5%)
£1,200 £0
Annual Management
Fee (10%)
£2,400 £0
Inventory £150 £0
 
Annual Rental £17,250 £24,000
Monthly Rental £1,437.5 £2,000
Potential Saving of £6,750 in Year 1

 

THE PROCESS

• You have a property available to let and wish to find a suitable tenant.

• We arrange a viewing of the property with you.

• If the property meets our criteria, we’ll make an offer to you to rent the property directly from you for a long-term fixed tenancy.

• Once contracts are signed, Brodie Management becomes your tenant and property manager.

• As the landlord, you receive a guaranteed rent each month, whether vacant or not. No fees or hidden charges.

• Once we have taken on the property, we’ll redecorate and furnish (if required) before moving in young professional occupiers wanting shared accommodation.

• We’ll provide the tenants with an all-inclusive package, with Internet and cleaners.

• We deal with all maintenance requirements and return the property at the end of the term in the same condition, or better.

TENANT BENEFITS

If you are a young professional working in London, we have the right accommodation to satisfy your needs.

All inclusive room rate

We pay for all the bills (Council Tax, all utilities, TV license & broadband), so you don’t have the inconvenience of dividing these costs between your flat mates at the end of each month.

Comfortable

Our professional house sharers are typically big properties with large furnished rooms, equipped with all the amenities and appliances characteristic of a modern house.

Clean accommodation

Our houses come with their own dedicated cleaner, at no extra charge and will attend and clean the communal areas.

Convenient

Located in desirable areas close to good transport links.

Service

We operate a fully comprehensive maintenance service for our clients with 24/7 emergency call out if required

Frequently asked Questions

So will you pay the rent direct to the landlord?

Yes. As we are your the tenant, we will pay the rent direct to your bank account on an agreed monthly date.

What will happen if an occupant does not pay their rent?

Whether the house sharer fails to pay or pays late will not affect you as the Landlord.

Does Brodie Management pay a deposit?

As your direct tenant, we pay a standard deposit to provide you piece of mind.

Should the market rent fall, will you try and renegotiate the agreed rent?

No. We will honour the rental agreed from the start of our tenancy for the duration of the agreement and you can have confidence your monthly income will not alter.

When will I start receiving the rent?

As soon as the contract is signed and we have the keys, irrespective of how long it takes us to find suitable tenants. Please note, this is subject to the property being ready and tenantable. However, if pre-approved refurbishment works are required in order to bring the property up to a satisfactory standard, we will inform you of these and the timelines associated with that.

How quickly can you make me an offer?

Once we have seen your property, we can advise you within 24 hours and make you fair and competitive offer. We base our decision on a number of factors including the condition of the property, size and location.

Are there any charges due at all with your service?

There are no fees or hidden charges. We do not charge our Landlords any commission while we are renting and managing the property.

What will I (as the Landlord) be responsible for?

All non-structural maintenance issues will be taken care of by Brodie Management. You will be responsible for costs relating to the exterior and structure of the property and ensuring that the building is insured appropriately and that you have adequate safety and environmental certificates in place (e.g. Gas safety, Electrical Safety, EPC).

What if tenants lock themselves out of the property or lose their keys?

While we manage your property, the tenants will always contact Brodie Management.

What if the occupants damage the property?

If anything is damaged or broken, we will cover the cost of repairs if we deem this to be the fault of one of the tenants (for example a broken window). However, if the problem is beyond the scope of our responsibility (e.g., the boiler breaks down), we will notify you and propose options for resolving it.

How do you select your tenants?

All of our tenants are carefully selected and vetted as we take financial responsibility. We only rent to professional occupiers with a professional reference check, which will include:-

- Previous landlord reference

- Proof of employment (including employment contract/pay slips)

- Sight of their passport (in line with right to rent regulations)

- Visa check (if applicable)

- Proof of address via bank statement or utility bill

What types of properties do you deal with?

We will consider 5, 4 & 3 bedroom properties, with 1 or 2 reception rooms where one can be converted into a bedroom. There must be 4 double bedrooms as a minimum requirement. We will also take on larger properties, if they meet our criteria.

Can commercial tenants remain in occupation beyond the agreed term?

The contracts we use with our landlords (either a commercial lease or management agreement) have been drawn up specifically for this arrangement. We have opted out of sections 24 to 28 of the Landlord and Tenant Act 1954, which waives our right to “security of tenure”. Brodie Management cannot stay in occupation longer than the agreed term, unless you wish to renew the Contract.

What would happen should Brodie Management go out of business during the contract period?

The contract is wholly unwritten by our parent company, Brodie Investments Ltd, for the lifetime of the agreement.

Do I need to advise my mortgage provider of the Agreement?

We recommend you disclose this arrangement to your lender (if applicable) before entering into any contract and seek independent legal advise before signing any agreement.

 

Brodie Group Ltd. Heath House, Blackheath Lane, Blackheath, Surrey GU4 8RB. 01483 790000

Brodie Investments Properties

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For available properties, go to Commercial or Residential Lettings.