Corporate Lets – 5 year deal with FTSE 100 company via NPG

At National Property Group we are working with a FTSE 100 company which has engaged us to source landlords wanting to let their properties for a mimimum period of five years on a Corporate Lets basis. To make life easier for you we have produced a video below and text below that to tell you more about their requirements and how to register your interest.

Corporate Lets Tenancy Terms

1. A fixed 5 year contract with an option to extend to 7 years
2. Rent paid throughout the whole term, irrespective of whether the property is occupied
3. All damage repaired by the tenant during and at the end of the term (fair wear and tear excepted)
4. All utilities and council tax covered by the tenant client.
5. Houses are let to established family units

Properties suitable for these Corporate Lets

• Any type of house, bungalow or apartment, but excluding HMO’s/bedsits
• 2, 3 & 4 Bedroom properties
• Within 3 miles of main town centre post office

Property Condition Requirements

• Must meet Local Authority Decent Homes Standards (eg fit for human inhabitation, free from defects, damp etc.)
• Have mains integrated heat/smoke dectectors
• Gas Safe Certificate
• Electrical Safety Certificate
• You must confirm that the property is suitable for letting (ie complies with your lender terms if applicable) and take out your own buildings insurance.

Properties Required for Corporate Lets scheme

They require up to 50 properties in EACH of the following towns;

North West

• Blackpool
• Lancaster
• Manchester
• Bury
• Oldham
• Rochdale
• Burnley
• Warrington
• Liverpool

South Yorkshire

• Barnsley
• Rotherham
• Sheffield
• Doncaster

Midlands

• Coventry
• Walsall
• Dudley
• Nottingham
• Derby
• Leicester

East of England

• Ipswich
• Norwich
• Luton
• Southend On Sea
• Peterborough

** STOP PRESS ** Towns in West Yorkshire to be added next week.

Rental Income to be expected from Corporate Lets

Rent is fixed from commencement for each town dependant on the number of beds. We will update with a full list shortly. As a guide, rents will be broadly 10% higher than the Local Authority Housing Rates. By way of example, rent for the following towns per calendar month;

Management Costs and Payment

NPG will charge 10% of rental income. Rent is paid by the client 2 months in arrears. There are no other charges for setting up the tenancy, inspections or tenant find.

To Apply For the Corporate Lets Scheme

1. Provide NPG with details of your property which must currently be vacant, or becoming free within the next 30 days
2. They’ll confirm whether the property is suitable following initial internal checks within 5 working days
3. If acceptable, they’ll arrange for an inspection with you and our service partner to confirm the current condition and any works required to be carried out by you prior to letting
4. Once approved, they’ll set up the tenancy

For more details and to register your interest in this Corporate Lets deal

PLEASE CLICK HERE