Frequently Asked Questions

 A company let is a rental arrangement where a property is leased to a corporate entity, rather than an individual. The purpose of the tenancy is to provide accommodation for employees or company executives. 

 Company lets offer several benefits for landlords, including:

• Reliable rental income: The company assumes responsibility for paying the rent, reducing the risk of rental arrears.
• Longer tenancy agreements: Company lets often involve longer-term agreements, providing landlords with greater security and continuity.
• Reduced void periods: With a company let, the property is typically occupied by employees or executives throughout the tenancy, minimizing vacancies.
• Lower administrative burden: Landlords often deal with a single point of contact for administrative matters, simplifying communication and property management.

 Company lets are suitable for a range of property types, including apartments, houses, and serviced accommodation. The suitability depends on the location, size, and amenities of the property, as well as the specific needs of the company and its employees. 

Here at The Perfect Spot, we are  always looking to take on new properties under our management so just just contact us through our contact form and we will be glad to see how we can help you.

 The level of furnishings required depends on the company's needs and the type of let agreed upon. Some companies may prefer fully furnished properties, while others may have their own furniture. It's essential to discuss and agree upon the furnishing requirements with the company during negotiations. 

 Like any tenancy arrangement, there are legal considerations for company lets. It's crucial to have a legally binding tenancy agreement in place that outlines the responsibilities of both parties. It's advisable to seek legal advice and ensure compliance with relevant laws, such as tenancy regulations and safety requirements. 

 Rent increases during a company let are negotiable and subject to the terms agreed upon in the tenancy agreement. It's essential to discuss any potential rent increases with the company and outline the procedure for such adjustments in the agreement. 

 The responsibility for repairs and maintenance can vary depending on the terms of the agreement. In some cases, the company may take care of minor repairs, while major repairs may still be the landlord's responsibility. It's crucial to clarify these details in the tenancy agreement to avoid misunderstandings. 

 Early termination clauses should be addressed in the tenancy agreement. If the company wishes to terminate the tenancy before the agreed-upon term, the conditions for early termination and any associated costs should be clearly outlined in the agreement. 

 Establishing effective communication channels is essential. Maintain regular contact with the company's designated representative and provide clear guidelines for reporting any maintenance issues or concerns. Promptly address any communication or maintenance-related matters to maintain a positive landlord-tenant relationship. 

 It's important to review your insurance policy and inform your insurance provider about the company let arrangement. They can advise if any adjustments or additional coverage is necessary to protect your property and assets. We also have our own liability insurance which will cover the property for your added security.

 Yes, you can request references or credit checks for the company to ensure their financial stability and reliability. This can help you assess their ability to meet rental obligations and mitigate any potential risks. 

 Absolutely. You have the flexibility to include specific terms in the tenancy agreement that outline property usage guidelines, maintenance responsibilities, and any other conditions that align with your requirements and protect the property's condition. 

 In case of disputes or issues, it's best to refer to the terms outlined in the tenancy agreement. If the matter cannot be resolved through negotiation, the matter can be referred to the property ombudsman as we are members, or mediation may be necessary to find a satisfactory resolution. 

 Yes, you can request a security deposit from the company. The amount and terms should be clearly stated in the tenancy agreement, including how and when the deposit will be returned at the end of the tenancy 

 Tax obligations can vary depending on your circumstances and local regulations. It's advisable to consult with a tax professional or accountant to understand the specific tax implications of company lets and ensure compliance with relevant tax laws. 

 If the company fails to meet their obligations or breaches the terms of the tenancy agreement, you may have grounds to terminate the agreement. However, it's important to follow proper legal procedures and seek legal advice to ensure you act within the confines of the law. 

 The possibility of annual rent increases should be outlined in the tenancy agreement. If it's agreed upon, the terms and method of increasing the rent should be specified in the agreement to maintain transparency and avoid disputes. 

 Yes, service charges or utilities payments can be negotiated with the company. It's important to outline these details in the tenancy agreement, specifying who is responsible for paying these costs and any agreed-upon caps or limits. 

 Converting a residential property into a company let may require compliance with additional regulations or licensing requirements, depending on local laws and property usage restrictions. It's crucial to research and ensure you meet all legal requirements before proceeding with such conversions.