How does it work?
South West Shared is the simple, stress-free and effective way to rent out your London Property.
As your dedicated property management company, we will take care of every aspect of your property. From furnishing and maintenance, to finding quality professional tenants and guaranteeing rent - we give you peace of mind.
Your home will be in good hands with South West Shared.
Do you have questions about renting out your London property? Read through our FAQs below.
Your landlords questions answered
Are you Estate Agents or Property Managers?
We are not Estate Agents! We rent properties from landlords and provide accommodation to professional tenants. Our role is closer to a property manager than an estate agent, as we work to maximise your property value through on-going management.
We will sign a fixed term commercial contract with you to take charge of your property - effectively South West Shared will become your tenant. During our contracted time, we will pay you a monthly guaranteed rent regardless of the property's occupancy. Additionally, we will organise the maintenance of your property, the finding and checking references of our corporate and professional tenants, and rent collection. We are the perfect tenant.
Why did you choose to provide shared and serviced accommodation, not regular lettings through your company?
Shared and serviced accommodation is growing in popularity among young professionals in London. In particular are those who have recently relocated to London due to work contacts. At South West Shared we understand that this area of the property industry needs particular attention, as both landlords and tenants have little in the way of professional guidance when opting into this model.
The South West Shared way.
Suitable Properties
What types of properties do you manage?
We work with a wide range of London properties, from studio flats to six bedroom town houses and everything in between.
Do you take on new properties all year round?
Our clients are looking for accommodation at all times, so we will take on properties at any time, as well as actively look for new clients all year.
How does the property valuation work?
We value properties based on lots of different factors including; location, conditions, size. We will arrange a convenient time with you to visit your property and our trained valuers will conduct a valuation.
How quickly will you make an offer?
Once we have valued your property we will send you a formal written offer within 24 hours. When you agree, we can send you through a contact on the same day. Remember, we can rent your property directly from you for a fixed-term tenancy, paying you a guaranteed rent in-line, if not higher, than market rates.
Contracts
What type of contracts do you use? Our contracts are commercial agreements, tailor-made for South West shared. In short, they make us your tenant for the assigned period, and also give use the authority to manage the property on your behalf.
Some of our tenants/clients will sign a 12 month rolling tenancy agreement, with a 6 month break clause. We do offer short term contracts for professionals on temporary work contracts too, in some instances we house their families also.
Do your Commercial tenancy agreements allow tenants to stay longer than the agreed term? No. At South West Shared have opted out of certain sections of the 1954 Tenant Act, meaning we waive the ‘security of tenure’. Therefore, the only way we can stay in occupation longer than our agreed term, is if you renew your contract with us.
Once I’ve signed a contract, do I have to wait for you to find tenants before you start paying me rent? In the instance that your property needs a bit of a makeover, we may ask you for 3-4 weeks as a grace period whilst we get our hands dirty! We begin to search for tenants to your property from day 1, and usually fill properties extremely quickly. When the grace period is over, no matter if the property is occupied or not you will receive monthly rent for the entirety of our contract.
What happens if South West Shared goes under during the contract period? We hope this is hypothetical, but it’s an extremely fair question. According to the contract we have with you, if we go out of business, the rent the tenants in your property have been paying will revert to you directly, and their deposits will remain with the Deposit Protection Service in case there are any damages or unpaid rent. So in the worst case scenario you will be protected.
Mortgage Aspects
Will there be an issue with my mortgage provider in signing a commercial agreement?
As we have no security of tenure, there should not be an issue here. However, we always recommend that you seek authorisation from your lender before entering into any contract. We have specific documentation that you can give to your lender along with our contract if they require it.
Rent Payment
Do you pay the rent directly?
Yes. As contractually we’re your tenant we pay the rent directly from our bank account to yours. Our finance team will arrange for the rent to be paid on the fifth of each month unless we specifically arrange otherwise. We can also send you a monthly statement if you require one. Additionally, we take a deposit from every tenant which is registered with different bodies, subject to the length of their stay.
What are the charges associated with your service?
We charge no landlord fees for our services. We make a profit from the differential between the rent we pay you and rent we collect from tenants. We are able to charge our tenants a slight premium, as we provide high-spec properties that are furnished and dressed to a very high standard. Our properties are also inclusive of utility bills and have weekly cleaners.
What happens if a tenant doesn’t pay their rent?
This is rare, but if a tenant pays rent late or fails to pay then that is our problem. You will continue to receive a regular monthly payment from us.
If the property market falls, will you try and renegotiate our rent?
No. Whatever we agree at the start of our tenancy we will honour for the duration of our contract. From your perspective, that is one of the benefits of a long-term contract.
Updates & Inspections
How often do you complete property inspections?
We conduct formal inspections every six months for our long term tenants and weekly inspections for our short term clients. We also keep you updated by emailing photos of your property after each inspection.
Additionally, our cleaners keep us informed of the state of the property on a weekly basis and if they voice any concerns we follow up immediately. Informal inspections are also carried out during maintenance or routine visits such as meter readings. We are also happy to arrange a time for you to visit the property in order to ensure you are happy with our management.
Property Management
How is property maintenance and damage handled?
As the landlord, typically you are financially responsible for property maintenance. However, South West Shared work tirelessly to ensure your property is kept in a sterling condition. We cover certain maintenance costs up to a certain amount, and we will do the leg work. This is agreed during the offer stage. Additionally, routine and anticipated things like gas safety certificates shall be organised by us.
As your proxy tennant if something happens at the property that is deemed to be the fault of our tenants (e.g., a broken window) then we will cover the cost ourselves. If we believe the problem is beyond the scope of our responsibility (e.g., the boiler breaks down), we will call you and let you know the problem and propose options for solving it.
Can you use my regular tradesmen?
Of course. As long as they are legally certified and fully insured we are happy to use your preferred contractors to carry out works on your property.
How much wear and tear can I expect?
In the majority of cases, a property will be in better condition at the end of our contract than it would have been had it been let by an estate agent. This is due to our regular maintenance regime, weekly cleaners, and the initial upgrades we make to the property at the time we take over its management. Our clients expect a premium service, which means our properties must be kept in show room standard.
Tenancy Management
How do you find and evaluate potential tenants?
We have relationships with well- known companies, relocation agents and recruitment consultants who approach us to find accommodation for their staff. We also advertise via our website, online and in print and also receive many referrals via previous and current tenants.
How do you vet tenants?
Our tenants are mostly professionals usually in their mid 30’s - 40’s, we do not house students. We conduct thorough reference checks which include; Previous landlord reference, Proof of employment (including their employment contract or pay slips), Passport checks (in line with right to rent regulations), Visa check (if applicable), and Proof of address via bank statement or utility bill.
Who will the tenants contact in case of an emergency?
As we are managing your property, all Tenants will call us in cases of emergency. This includes everything from a leaking pipe to lost keys. Again, this is a primary benefit of having South West as your sole tenant rather than having to manage the property yourself day to day.