What are OTK Property Solutions responsible for?
We are responsible for paying you the set monthly rental fee each month.
We fill the house with our professional / working tenants and pay all of the utilities and council tax.
We also employ a cleaner and a gardener (where applicable) to watch over the property and take care of the communal areas.
The tenants contact us if they have any problems and not the landlord.
We act as the landlord and take over all of the landlord responsibilities so that you don’t have to worry about any of it.
To provide a high quality accommodation we generally spend money up-front in order to make the house suitable.
There will be no cost to you for any interior upgrade work, decoration or furniture.
Will I still make the same amount of money as usual?
Yes! You tell us how much you want to get paid! We generally pay about the same amount of money as you would earn if you were to let your property normally and we guarantee payment every month. The exact monthly amount and the time period will be agreed between us.
Am I responsible for anything at all?
The exterior/structure of the building should be maintained sound by the landlord. OTK Property Solutions is not liable for repairs to these parts of the home (for example, roof tiles and structural soundness). As a responsible landlord, you should make sure the building is insured with the appropriate HMO landlord product, and that you have adequate safety and environmental certificates in place (e.g. Gas safety, Electrical Safety, EPC). Finally, if you have a mortgage, it is your responsibility to look after it.
How do OTK Property Solutions make money?
We do not charge you any fees or commissions like estate agents. Our commission is earned from the tenants in the house. We provide quality housing with professional services for professional employees / working tenants of local companies. This allows us to receive a markup on the monthly rent and retain tenants.
Is this sub-letting?
No. We use a contract instead of an Assured Shorthold Tenancy (AST) with the you - owner of the property. The AST disallows sub-letting and is not appropriate in this situation. Our contract has been drawn up by a solicitor specifically for these types of arrangements.
