Property Management

Individual Landlords

Property management

SP Property Group provide a comprehensive management service for landlords renting out their properties. Our landlord clients range from individuals with one off properties, to those with large portfolios.

We ensure that our clients are compliant with their landlord obligations and that their properties meet the legally required industry regulations.

We remove the pitfalls of managing tenancies and tenant relationships, property maintenance and repairs. This includes us overseeing the entire lettings cycle, from transferring utilities and organising safety checks to managing tenants and ensuring that our clients’ property assets perform as well as they possibly can.

In addition, SP Property Group manage homes for owners who are not based in the UK full time and require a vacant possession management service.

Our approach

We are full members of ARLA and our property management team is divided into two areas of expertise which work in tandem with each other:

  1. Lettings Services
  2. Residential Management

 

1

Lettings Services  – The SP Property Group specialist lettings team works with our landlords to ensure that their properties are rented out quickly and that the best possible rental terms are negotiated on their behalf.

This encompasses everything from advising on how best to present the property, any pre-tenancy works required, advising on and overseeing the marketing strategy of the property and which letting agents to instruct, and then negotiating all rental offers when they are received.

Our lettings expertise ensures that void periods are minimised and our landlords’ rental yields are maximised.

2

Residential Management – once the property is rented out, our experienced residential management team take over to ensure that the properties are run efficiently, cost effectively and to handle all tenant relationships.

We closely supervise our landlords’ expenses to ensure that they are spent wisely. We have worked with our approved contractors for years and our landlords are prioritised, so if works are required we can organise it quickly and cost effectively. We do not charge any administration fees on any works organised.

SP Property Group also build long term relationships with our tenants which minimises the cost and cash flow interruption of  unnecessary tenant changeover and results in good tenants remaining in place for the long term.

 

Our track record

The portfolio of properties we manage on behalf of landlords has grown largely through word of mouth recommendations. Many of the landlords we represent moved their properties to us either in search of better service, or for the savings we bring them as being part of our portfolio. Or both.

Our emphasis on securing good quality tenants, minimising void periods and achieving the best possible rental yield performance sets us apart from traditional letting agents.

Over the past decade we have built a reputation within the London property market for representing high quality landlords and delivering excellent services. This means that tenants and relocation agents are very keen to rent the properties we manage.

86% of our tenants renew their tenancies and, on average, they remain for nearly 3 years. And of the properties we manage above £1,000 p/w, 74% are let to corporate tenants.

Our strong relationships and market influence with the London estate agents have enabled us to negotiate that our landlords do not pay renewal fees. Given that most of our tenants remain in place for an average of 3 years, this saves our landlords approximately 16% + VAT of letting agent renewal fees over that period.

For a property rented out for £1,000 per week, this equates to nearly £8,500 + VAT of savings over a 3 year tenancy.

We manage flats and houses ranging from period conversions, purpose built flats and properties within new build developments. We understand the different ongoing maintenance, expenditure and snagging that comes with different properties and this helps us foresee any potential issues and deal with them quickly and cost effectively.

We also have experience with inevitable rental crises such as a major leak from a property above on the day of move in. Whatever the situation we advise our landlords on tenancy law, their rights and obligations and we solve the problem.

Our service

Finding a suitable tenant & maximising your rental yield:

  • Advise on all aspects of how to best present your property any required pre-tenancy works, whether the property should be furnished / unfurnished (if applicable) and how best to launch your property to the market.
  • Advise on the most suitable letting agents according to your property type, price bracket and location. We obtain market valuations, recommend the pricing and marketing strategy of your property and advise on which letting agents (and how many) to appoint.
  • Secure favourable Lettings terms as SP Property Group appoint the letting agents on your behalf, so they sign our Terms of Business, rather than you having to enter into lengthy contracts with them, which can be full of hidden costs and clauses.
  • Reduce the lettings fees you pay as our market presence enables us to negotiate significant discounts for the landlords we represent. By having your property managed through us, the letting agents reduce their letting fee and also waive any right to renewal fees if your tenant stays beyond 12 months.
  • Oversee the marketing of your property by ensuring that your property is accurately listed and optimally presented online, in print and in person. We hold the appointed lettings agents to account by proactively monitoring viewing levels and feedback, to make sure that they are prioritising your property and bringing the right tenants through the door to minimise any potential void period.
  • Maximise your rental return by negotiating all aspects of the tenancy on your behalf, including rental price, move in date, rent increases, break clauses, extension options and so on.

Once a suitable tenant is found:

  • Instruct tenant references
  • Draw up all tenancy paperwork and tailored tenancy agreement
  • Invoice the tenant for move-in monies
  • Hold the tenancy deposit as stakeholder in a government approved scheme (where applicable)
  • Ensure all legally required certificates are in place and your property is fully compliant
  • Arrange the inventory (if required) and check-in appointment
  • Carry out regular inspections of your property
  • Organise required maintenance on your behalf at competitive prices
  • Collect rent on your behalf
  • Email you/your financial team monthly income and expenditure statements

Fees - full management service

Most our landlords require a full management service whereby we oversee the renting of their property to maximise their returns, and then manage the property once a tenant is in place.

Full Management service:  6% of the annual rent + VAT per year

Fees - lettings management service

Some of our landlord clients require assistance maximising their rental return, but prefer to manage the property themselves once a tenant is in place.

Lettings Management service:  3% of the annual rent + VAT per year


We negotiate no renewal fees for our landlords and these discounts pay for our services themselves.

For a full breakdown of landlord and tenant fees click here.

What our clients say

"We struggled to manage our investment property ourselves and it was costing us so much time and money sourcing expensive and unreliable tradesmen. Since handing the management over to SP, not only have all maintenance works been fixed the same day where possible, it has been far more cost effective for us as they have tried and tested tradesmen at discounted rates.

Our tenant is also delighted with the service and is now looking to renew for another year, whereas I suspect she would have left if we were still managing the property ourselves. We can’t thank you enough and could not recommend you more highly."

Guy - Healthcare CEO

"The Property Management Service provided by SP Property Group is faultless. The rates are more than reasonable for what feels very much like individual care, every problem is solved and every query is answered with speed and good grace. It is a huge relief to know that our property is in such capable and professional hands. We couldn’t recommend the service highly enough."

Tessa - Lumley Pictures

"We are so appreciative of how you always sort out any issue in such an effortless and quick manner."

Subhas and Martin

"SP has been a fantastic help to us and allowed us to have confidence that our flat is well looked after along with our tenants. It is a very good sign when you know your tenant is equally as happy with the service as we are as the owners.

Given that we live in Australia knowing that our property is in good hands is even more important to us. The service is prompt, friendly and we feel that real care is taken by everyone at SP in looking after our asset. We couldn't and wouldn't do it without them!"

Moira & Greg - Australia

"Thank you for managing my property portfolio over the years. You have always been knowledgeable, reliable and proactive and I would highly recommend you to any landlord wanting a professional property management service."

James Robson - Chairman, Powerful Allies Ltd

"SP has managed the property for me ever since they found it and handled the purchase for me, sorting out anything from new tenants to re-tiling and broken boilers. The flat has appreciated in value and the tenancies produce a monthly profit. I couldn’t have done it without them."

James C

Contact

For further information please contact our Head of Residential Management, Becky Johnson, who will be delighted to discuss your requirements: +44 (0)20 7244 4484 or becky.johnson@sppropertygroup.com