Frequently Asked Questions for Landlords
You can always get in touch to learn more about SweetSpot or to get help with any of our services, but before you do, you might find what you are looking for here in the FAQ.
Information for Student Landlords
- Do SweetSpot take a security deposit in case of damage by the tenants? If so, how much?Yes, we take a deposit of 6 weeks rent in all cases. Prior to renting a full inspection is made of the property, with the tenants, to agree on the existing conditionof all fixtures and fittings. At the end of the rental period a further comprehensive inspection is carried out. In the event of any damage being discovered the cost of this is deducted from the security deposit.
- What references do SweetSpot obtain from the prospective students?Students must supply guarantors who are willing and able to be liable for any damage not covered by the security deposit. To ensure that the guarantors are able to meet their obligations SweetSpot carry out reference checks through FCC Paragon to determine their income and credit rating.
- I have a specific question regarding the contract between landlords and SweetSpot (length / cancellation conditions, etc.)We use a standard agreement between ourselves and the landlords which ensures that all parties are dealt with fairly and details all the legal conditions. If you have a specific question relating to the kind of agreement we use please get in touch – we’ll be happy to chat about any element you may have a question with.
- What charges or fees apply to the landlord and how much are they?SweetSpot are committed to being completely up-front and open regarding charges. Should any changes take place these are notified to all parties immediately At present we charge 8% per annum to market the property, reducing to 4% per annum upon renewal. This is taken out of the tenants' first month's rent. The charge for our property management services is set at just 8% per annum. This is calculated and deducted from the monthly rental fees.
- What are SweetSpot’s procedures for evicting students who break the terms of the agreement?Firstly, we take every care to ensure that the tenants for all the properties we manage:
- Completely understand their responsibilities
- Can supply adequate references
- Have guarantors who are able to meet any liability in the event of a problem
- How are any necessary repairs or maintenance to my property managed?All maintenance and repairs are handled directly by our competent and professional in-house maintenance team. By using our own technicians we maintain full control over the work ensuring that it is done to both an acceptable standard and cost. SweetSpot will also check that the work has been completed properly. Landlords are responsible for the costs of maintenance and repairs but these are deducted from the rental payments. In all cases you will be kept fully informed of any work necessary and the costs involved. Handling fees for this service are just 10% of the total cost of the repairs/maintenance undertaken.
- How are landlords paid for properties that SweetSpot manage?Rent is paid direct to your bank account on a monthly basis, less our fees and any agreed repair/maintenance costs.
- How much notice must landlords give SweetSpot if they want to cancel the agreement and/or sell the property being managed?Again full details of this are covered by the property management agreement.
- I might be interested in selling my property – Do SweetSpot actually buy houses from landlords?If after a period of rental you decide that you would like to sell the property then we may be interested in purchasing it. Let us know and we'll take it from there.