Docklands-based Austin Phillips describes itself as a “shared accommodation provider” that offers landlords guaranteed rents on their properties 365 days of the year.
So to find out exactly what that means and how it can help Londoners, we had a chat with Tony Xaykosy from Austin Phillips.
What does the company do?
We guarantee the rent for our landlords – effectively becoming the tenant. The rent is guaranteed for 365 days of the year and during that period there are no rental void periods, allowing total peace of mind for the landlord.
How does it work?
The model is simple. We lease the property from the landlord and rent to working professionals on three to 12 month contracts. We essentially are the landlord’s tenant, during this time we pay the landlord guaranteed rent every month regardless of the properties occupancy.
What is the difference between estate agents and portfolio managers?
To begin with unlike estate agents we do not charge any fees or commission to our landlords.
Once we become your tenant we carry out the maintenance on the property and deal with all the out-of-hours calls from tenants.
Finding residents, keeping them happy in their homes and collecting their rent becomes Austin Phillips’ responsibility.
To be clear we carry out all maintenance and management unlike estate agents, and treat the asset as if it was our own.
What are the benefits of using Austin Phillips?
Our service maximises your properties value and your rental yield through effective, hands-on free management, while giving you the freedom of not having to deal with tenants and estate agents.
Landlords will receive a long-term tenant with guaranteed rent for that period.
Austin Phillips has been established for almost eight years and we know what landlords want because we are Landlords ourselves.
Why go with a guaranteed rent scheme?
Landlords will have a fixed rental income paid to them every month for the length of the agreed term (typically between two to five years). We pay the rent regardless of the properties occupancy. Landlords will receive rent lowering the risk of rent arrears and will have absolutely no void periods for the length of the contract.
Who will benefit from the scheme?
Whether you have one property or a portfolio of properties Landlords can benefit from this scheme providing the specifications of the property meet our requirements e.g. number of bedrooms