How does it work?

We will visit your property and within 24 hours make you a competitive offer to guarantee your rent for a long term let and management contract, typically 3-5 years. If agreed we will guarantee that this rental amount is paid to you each and every month with absolutely zero fees or hidden charges. You can now put your feet up and let us do the hard work for you.

First, if necessary, we perform a light refurbishment and fully furnish your property so it is ready to become a ProCo-Living home. We then find and fully reference people to live there and provide a dedicated property manager to look after the home. We also pay for all utility bills, organise any maintenance that is required and oversee regular cleaning, gardening and internal inspections.

You deal with us, we deal with everything else.

How do you make money?

Good question! We make a profit from the difference between the amount we charge our professional tenants who live in the property and the guaranteed monthly rental payments we make to you. By providing the property as a co-living home we can maximise the rental income for the property allowing us to guarantee your monthly payment, charge you zero fees and cover our operating expenses.

What is a co-living home?

In our co-living homes each tenant rents a private bedroom on an individual assured short hold tenancy agreement and then shares the communal areas of the property such as the kitchen, living room and bathroom. 

Our aim is to provide all our tenants with collaborative communal areas and peaceful private spaces to relax. This increased social engagement is making co-living homes the go-to choice of living for young professionals today.

I already have a high street management agent?

That's fine. We work with your agent throughout the duration of the contract and still provide exactly the same service and benefits. Less hassle for landlords and agents alike.

What type of properties do you take on?

We take on a range of properties from one bedroom flats to six plus bedroom houses. 

How quickly can you take a property on?

We will arrange a convenient time to visit the property and can make you a full written offer within 24 hours. If the property is vacant we can sign contracts, take the keys and get started the very next day.

What are your fees?

We do not charge any fees to landlords or agents representing landlords at any point during the contract. That's right, not a single penny. We make our profit from the difference between what our tenants pay us and what we pay you. Simple.

Does the property need to be furnished?

No, not necessarily. We take on fully furnished, part furnished and completely unfurnished homes. If you do have furniture in your property we will need to inspect it during a visit and we will then let you know if we are able to use it. We aim to provide a high level of furnishings and decorations in our homes to accommodate our professional tenants.

What does a light refurbishment mean?

To provide the high standard of homes our professional tenants like we often carry out a light refurbishment when we first take a property on at our own cost. The refurbishment depends on the property’s condition but typically involves painting, fitting an energy saving thermostat and some other small alterations that are required to make the property legally compliant to be let, such as the correct fire alarms.

This is a win-win as our landlords have their property upgraded and our tenants get a lovely home to live in. The details of the refurbishment will be outlined within the rental offer we make so that all parties are in clear agreement before the contract is signed. 

What type of contracts do you use?

With landlords we use a Guaranteed Rent Agreement which has been tailor-made for our specific business. This outlines the guaranteed rent we pay you and gives us the authority to manage the property for you and to place our tenants in the property. 

With our tenants we use 12 month Assured Shorthold Tenancy agreements with a six month break clause.

Do I need to inform my mortgage provider?

If you have one, we recommend that you seek authorisation from your mortgage lender before signing the contract and we can work with you to provide any documentation you may need to supply to your lender.

Isn't this subletting?

No, subletting is when a person signs a to contract to live in a property and then illegally lets it to a third party without informing the landlord.

We are very clear that it is our specially selected tenants who will be living at the property with full approval from the landlord and this is clearly outlined in the contract.

When do you start paying rent?

We start paying rent from the agreed first payment date of the contract. Typically we agree a short rent free period at the start of the agreement to complete a light refurbishment to get the property up to the high standard we like to provide. This depends on the condition of each property but is usually 1-3 weeks.

How do I receive rent payments?

We will set up a monthly standing order direct to you for the agreed rental amount. This will be paid on the same day every month for the duration of the contract. We collect rent from our tenants separately and you get paid regardless of any voids or late rental payments.

Do you pay a deposit?

We do not pay you a deposit, instead we take deposits from each of our tenants to cover any damage to your property which we register on your behalf with an accredited Deposit Protection Service which we provide you the details of.

How often do you do property inspections?

We perform formal property inspections every six months and our dedicated property manager also provides us with regular informal updates on the condition of the property.

What happens with maintenance issues?

Similar to a traditional letting arrangement, as the landlord, you will be responsible for paying for any maintenance issues that are related to the fabric of the property, for example a problem with the boiler. We will be responsible for ay issues that are of a result of our tenants, for example accidentally breaking a window. As your Let and Management agent we will organise and manage the repair of maintenance issues all on your behalf.

In our contact we agree a price threshold, usually £100-200, for smaller problems that we will organise and complete without bothering you. For any maintenance issues above that threshold, we will arrange quotes and contact you before proceeding. Our contract clearly outlines the divide in responsibilities so all parties are clear before contract commences.

Can you use a particular tradesperson I like?

Of course. If you have a favoured tradesperson we are happy to work with them as long as they are available, legally certified and fully insured.

Will there be more wear and tear in a ProCo-living home?

Well, yes and no. More people using a home generally means slightly more wear and tear overall. But due to the light refurbishment and upgrading we do when we first take a property on and the fact that each of our homes have a dedicated property manager to perform monthly inspections and deal with any maintenance issues quickly we aim to have our properties in a better condition at the end of the contract compared to the start.

Do I have to deal with tenants?

No, you deal with us and we deal with everything else. 

Do you reference your tenants that will be staying in my home?

Yes, we have a very thorough referencing process which includes passport and ID check, previous landlord referencing, Visa checks, proof of employment and previous address references. We also use our intuition alongside this to place tenants only if we think they will fit in a property and contribute to the respectful community feel.

What happens if one of your tenants damages something in my property?

We will cover the cost on your behalf to get it fixed or replaced immediately and then recover the cost from the tenant responsible as part of our contract with them.

What happens if one of your tenant moves out?

Our tenants tend to stay for longer than average but of course sometimes people will move on. When this happens we simply replace them and any vacant period will not affect your guaranteed monthly rental payment.

What input will I have with the property once we sign the contract?

Once we take over the management of your property, if you didn't want to you wouldn't have to set foot in the property again until the end of our contract. We will pay you the agreed rent each month via standing order and give you updates on any maintenance issues or annual safety checks required and if you want to periodically visit the property to inspect yourself then that can be easily arranged.

What happens if I want do not want to renew my contract with you?

We ask our landlords to give us a minimum of six months notice if they do not intend on renewing the contract with us and we will do the same with you. We will organise new homes for our tenants, remove any furniture we provided and give you back the vacant property at the end of our contract.