Singing Pig

what's the catch ....  and don't tell me there isn't one .....

Hi Clottie,

I think the best answer is the following (from our website):

"Spaces have redefined property management. Instead of charging landlords commissions on rental income, we package value-added services with the rent to produce our revenue. So we can offer you complete property management at zero cost. And because we're experienced private landlords ourselves, you can be sure of a quality service."

I hope that answers your question :)

 

aaron  - did you train with Peter Mandellson  (Master of Spin ) ? 

what you have written is utterly meaningless - what on EARTH are you talking about ????

 

NOONE gives a professional service like "Lettings and Management" for nothing  - please tell us  what this means 

 

"" we package value-added services with the rent to produce our revenue.  "

 

if i aint paying you for lettings  - what am i paying you for and how much am i paying you  - say on a £500pcm rent a month in a two bed terraced for example.  

 

 

 

 

 

 

 

 

lol! I'm a physics graduate not a politician :)

The nuts and bolts of it is quite simple. The tenants pay for the management rather than the landlords. Value added services include things like broadband, sky TV etc which we get at low prices (due to volume) and put a margin on. Win Win. Tenants get no hassle and good service, Landlords get their properties managed and higher returns, and we get a margin. The landlords pay nothing for the management, though because we generally let to busy professional types it is sometimes necessary for some refurbishment.

 

I hope that's clearer 

"The tenants pay for the management rather than the landlords."

 

so i'd  need to put my rents up by 15% (thats what i might be willing to pay a normal agent) ???   i dont think so

 

"though because we generally let to busy professional types it is sometimes necessary for some refurbishment."

 

i dont understand this at all .....   your professional tenants leave the property in a mess - is that what you mean ?    so no management fees to pay during the tenancy but large refurb costs at the end

 

i really dont get this at all -    or am i being completely obtuse here ??? 

Generally we agree a market rent for the property - what a usual agency would let it at e.g. 3 bed flat in elephant and castle is around £1300. This £1300 is what the landlord gets. What we achieve above that we keep. Also because we've got contacts within the banking industry (amongst others) properties are generally fully let within a couple of weeks.

The refurbishment (if any) is at the beginning of the tenancy because the professional tenants generally want the property to look good. The refurb is done by the landlords own team, or we can arrange our team to take care of it at cost (no margin is made on refurb).

I hope this makes more sense
 

sorry ... i'm also confused (.com) ... you are saying that the market rent is £1300, yet you can get more ... doesn't that higher value therefore become market rent?  doesn't that incentivise you to low-ball the rent estimate?  there's alwasy a catch .... and it seems to have taken some probing and several post on your part before you mentioned this?