HOW IT WORKS
Why You MUST Work With Dolphin Property Solutions
In a Nutshell
We are offering a fairly simple deal. At a very basic level; We lease the property from you for 3 years + and become YOUR tenant. If needed, we bring the property up to the requirements of our customers – young professionals. We then rent the rooms on individual AST’s and take care of EVERYTHING. As WE are your tenants you will only ever have to deal with us 🙂
When renting a property there are of course lots of variables to consider – as you can see from the chart above. Too many hidden costs eat away at your monthly profit. At the end of the day you ask yourself ‘why you are doing it?’
We start paying you your guaranteed rent as soon as the property is ready to let. This could be from the day we sign the lease or as soon as any refurb is carried out.
When most of our landlords take advantage of our service and benefit from the service, we have found that they never leave us, and instead choose to extend their contracts over and over again. We work hard to consistently retain the best standards in all areas.
We are not like high street agents – in fact we couldn’t be more different! Can you imagine a high street agent offering to refurb your property or arranging a fortnightly cleaner or a gardener? We take such great care of the properties that they are often in better condition on the rare times that we are asked to return one to the owner!
How do we do it? Well for one thing, we don’t have the overheads most agents have.
We have been both Landlords and Agents for a long time and therefore really understand the importance of selecting only the best quality tenants for the property. All of our tenants are young professionals who are thoroughly vetted prior to moving in. After all, from day one we are responsible and will have to deal with any lost rent, potential damage or misbehaviour. We also deal with calls, emergencies and in fact ALL tenant issues! You will never again have to worry about voids. A recent survey by Spare Room showed that most properties have a void period of at least 6 weeks per year!
Too Good to be True??
Some Landlords have initially said no to us as they can’t see where we would make our money, and experience has taught them how tough this industry can be!
As we said it’s a simple concept – this is how we do it;
• With all the benefits and guarantees we offer, we pay you a reduced rate.
• As you can see from the chart, you actually earn more at the end of the month.
• We become completely responsible for management, with all/any risks.
• The high end service we offer attracts slightly higher rents
• We collect the rent, pay you, pay the utilities
• Our profit is the difference. Simple
Our Guarantee to You
• You will ALWAYS get paid even if the property should be empty.
• Money will arrive in your bank account on the same day every month.
• We will never charge you any fees or commission.
• There will never be any sneaky ‘hidden’ or ‘unforeseen’ costs.
• We will take great care of your property.
• You will at last have a truly ‘Passive Income’
We will organise this on your behalf and be at the property to meet the engineer. We keep one copy of the certificate and send one to you.
This test is a legal requirement to ensure that all gas appliances in a property are safe. It must be renewed annually and there are heavy and serious penalties for not having a valid certificate.
We will take care of any legal obligations and can help you to comply with all current relevant legislation, ensuring everything is current and up to date. This would include PAT certification, furniture/fire regulations and smoke/carbon monoxide detectors.
We do not pay a deposit to you but we do take deposits from all our customers which are then secured in a Government backed deposit protection scheme. We use DPS – Deposit Protection Service. This money would be used for repairs if the tenant caused any damage the property.
As the owner of the property you are responsible for building insurance which usually includes an amount of contents insurance. A residential insurance will not be adequate and you will need either a buy to let policy or a specialist HMO policy. We have public liability insurance. We advise our customers to obtain their own contents insurance.
Before we take control of your property we would need 2 x proof of ID and proof of ownership of the property.
Before we take over the property you may decide to obtain an inventory from an independent company. Or if you prefer we can arrange this for you.
You are welcome to inspect the property at any time by giving us at least 24 hours notice. We also carry out regular inspections and deal with any issues as they arise. We have good relationships with our customers and quickly deal with any issues they may have.
If you have a mortgage you will have to obtain ‘Consent to let’. If we agree to Multi- Let your property, you will need to be on the correct mortgage product. You will need to sign a warranty in our contract to confirm that this is the case.
During an on-going contract, allowances should be made for the standard of the property at the start of the tenancy and for fair wear and tear during the tenancy.
At Dolphin Property solutions we understand the importance of customer service and aim to offer 100% at all times. If however you are not happy with any aspect of the service we offer we will deal with your complaint is an efficient and professional manner. See our complaints procedure.
We will take care of the management of all maintenance jobs, large or small, on your behalf. Obtaining your permission before any work is carried out and keeping in contact throughout the process. You will receive full invoices for your tax records. Alternatively you can use your own tradesmen if you prefer.
Should you decide for any reason to terminate the agreement between us, we would need at least 6 months notice. This is because we may have just signed a tenant in on a 6 month AST, and we want to ensure that we can return the property to you in vacant possession.
If there is ever a time when we have to remove a tenant via the court process (it has never happened to us yet) we will take care of the whole procedure and update you if so requested. This would not affect your monthly payments.
The Property Ombudsman www.tpos.co.uk
Gas Safe www.gassaferegister.co.uk
Deposit Protection Service www.depositprotection.com
Green Deal www.gov.uk/green-deal-energy-saving-measures/