The corporate tenant is considered by many Landlords to be the holy grail, but what exactly is a corporate tenant?
Traditionally corporate tenants will work for a household name, blue-chip companies, or local authorities. Typically the company would agree to cover the costs of the rental accommodation for their employees, usually when members of staff are relocating. The old-style corporate tenancy, with the rental in the company’s name, rent guaranteed and the employer responsible for damage and problems, is declining and as a result, a relocation bonus is often the desired route for the company. This option leaves the employee to handle the arrangements themselves.
These corporate tenants are particularly favourable to landlords as they are typically hard-working, high earners, however, these corporate tenants can be extremely difficult to find, and the company will usually have a list of companies/partners they would recommend the employee should use.
If you are lucky enough to find a corporate tenant to rent your room/property, they will need an additional level of service. These tenants are often unfamiliar with London and frequently unable to visit a property due to not arriving in the country until their new role begins. They have certain expectations and will look for an incredible design lead interior which is in immaculate condition. We know what you might be thinking, this sounds like a lot of work for you!
This is where we come in.
“From a landlord’s perspective, the holy grail had always been a corporate tenant! Fifteen years ago, you could let flats to the big accountancy firms, that doesn’t happen anymore, letting to you guys, you are now the corporate tenant” – Phil Spencer
With London Shared managing your property, Landlords get uninterrupted revenue, guaranteed. We sign a fixed, long term contract with you, effectively becoming your tenant. During that time, we pay you a guaranteed rent in line with market rates, every month, regardless of occupancy. We organise the maintenance, and we take the midnight phone calls. Finding the tenants, keeping them happy, and collecting their rent, becomes our responsibility.
If you think our concept could work for your vacant property, visit our website to find out more information. https://www.londonshared.co.uk/we-rent-your-property-directly-from-you/
London Shared; The New Corporate Tenant.