Frequently asked questions
Landlord Guaranteed Rent FAQs
WHAT SORT OF PROPERTIES DO YOU DEAL WITH?
All types- but normally, properties with a minimum of 2 bedrooms plus additional living spaces. They can be with or without a garden or parking and the property does not need to be in perfect condition. We will finance light refurbishments to get the property ready for tenants to move in.
DOES THE PROPERTY NEED TO BE FURNISHED?
Not necessarily. We take on properties that are fully furnished, part furnished or completely unfurnished. At Wynn we like to stick to our unique style, level of standard and brand and therefore would often prefer to furnish properties ourselves however, this can be negotiated.
IS THERE A COST FOR THE GUARANTEED RENT SERVICE?
We charge nothing to our landlords for the service we provide. We make our money on the differential between the rent we pay you and rent we collect from tenants. We charge our tenants a slight premium for providing high-spec rooms that are inclusive of utility bills and have weekly cleaners.
HOW QUICKLY CAN YOU TAKE A PROPERTY ON?
After we visit your property to conduct our assessment, within 24 hours we will make you a fair offer based on market conditions in your area. The price we agree to will be the price we pay for the duration of the contract, regardless of what happens to the market or if the property is vacant.
DO YOU PAY RENT DIRECTLY?
Yes. Contractually, we’re your tenant, so we pay the rent. We will set up a monthly standing order direct to your bank account for the agreed rent. The transfer will be made on the same day every month for the duration of the contract.
WHAT IF ONE OF THE CUSTOMERS DOESN’T PAY OR IS LATE PAYING?
That does not make any difference to the rent we pay you. When a tenant pays rent late or fails to pay then that is our problem. You will still get your rent paid each and every month on time.
WHAT HAPPENS IF ONE OF YOUR CUSTOMERS DAMAGES SOMETHING IN THE HOUSE?
We will cover the cost to get it fixed immediately, and then we will charge our customers. You will not have to pay a penny.
HOW MUCH WEAR AND TEAR CAN I EXPECT IN MY HOME IF IT BECOMES A SHARED HOUSEHOLD?
Lots of landlords are put off by the idea of sharers in their property as they believe the houses will suffer more wear and tear. This just isn’t true when letting to Wynn Property Solutions. We deal with all wear and tear issues caused and at the end of the term contract the property is returned as it was received.
HOW WILL I KNOW MY PROPERTY IS BEING TAKEN CARE OF?
We conduct formal inspections quartetly and send a professional report directly to your inbox. However, our cleaners keep us informed of the state of the property on a weekly basis and if they voice any concerns we follow up immediately. Our employees carry out informal inspections every time they visit a property, whether it is for a viewing or to check a gas meter. If you wish, we can arrange for you to periodically inspect the property yourself to make sure you are happy with the way we are managing things.
HOW WILL MAINTENANCE ISSUES BE HANDLED?
As the landlord, you will be responsible financially for the usual things a landlord is responsible for. However, as the manager of the property, we’ll do most of the legwork. We will always provide you with a quote prior to carrying out any work and we will arrange access so you do not have to get involved. Routine and anticipated things like gas safety certificates shall be organized by us; we’ll handle the logistics, and pass through the expense (currently £90 + VAT).
ARE WE ESTATE AGENTS?
No we are not Estate Agents. We are one of the leading property management companies that specialises in placing professional tenants in shared accommodation. We have only one line of business: we rent properties from landlords and provide accommodation to corporate and professional tenants. Our service maximises your property’s value through effective, ongoing management.
WHAT DOES WYNN PROPERTY HOSTING DO?
In short, we help property owners increase their income with short-term rental solutions, while reducing their workload at the same time. We manage the day-to-day operations of Airbnbs and other short-term rental apartments, including online listing, photography, pricing management, guest communication, cleaning, laundry, toiletries and check-in of guests.
WHERE DOES WYNN PROPERTY HOSTING OPERATE?
LONDON, SLOUGH, READING, BIRMINGHAM, LIVERPOOL, READING, LEEDS, NEWCASTLE, SOUTHAMPTON AND MANCHESTER.
HOW DO I GET STARTED?
Contact us by filling out the assessment form on our website, email info@WynnPropertySolutions.co.uk, or call us directly at 0203 7733 907. After you tell us a bit about your home, we’ll schedule a time for one of our experts to visit. We will provide a free property consultation to discuss how we can optimise your home, help increase your occupancy and nightly rate, and answer any questions you might have.
WHICH PLATFORMS DO YOU LIST MY PROPERTY ON?
HOW CAN I EARN MORE FROM MY RENTAL PROPERTY THROUGH WYNN?
Our expert team have great industry and local area knowledge. Our team of seasoned hospitality strategists will ensure that your revenues are maximised throughout the year. We have developed a comprehensive pricing strategy that reflects factors such as city-wide occupancy rates, travel trends, property location, events, seasonality, competitor pricing and more.
HOW MUCH DOES WYNN PROPERTY HOSTING COST?
Wynn offers a commission based solution to hosts, this means we collect a commission for every guest’s stay. Our services cover all aspects of managing the property, (from listing creating, management and ranking optimisation, calendar management, cleaning, 24/7 guest communication, and more). There are some additional services that are sold separately from the package. Some properties could qualify for our fixed Guaranteed Rent Service.
ARE THERE ANY SETUP FEES?
In order to get your property set up and ready for guests, we charge a one-time onboarding fee (dependent on property size, location, and availability) which covers the cost of a photo shoot, setting up the online listing/s on the different short-let platforms, and also includes a visit from a member of staff who will go by your property to ensure your home has everything required in order to receive guests. The onboarding fee isn’t charged upfront, it is deducted at the end of your first month's rental income.
WHEN DO I GET PAID?
Payments are processed by the last working day of each calendar month for bookings that check out within that month.
WHAT MEASURES ARE TAEN TO ENSURE THE SAFETY OF MY PROERTY?
For all bookings, we ask for the guest ID where we match the name with the booking, for a booking made in the name of someone else we request the ID of the person who is staying in the apartment. If we can’t get the ID of the person who made the booking, the greeter will report that to us and we’ll cancel the reservation to keep you and your property safe.
WHAT IF THERE IS A MAINTENACE ISSUE
If a maintenance issue occurs, we will first contact you to find out if you have a preferred way to deal with it, and if not we will let our highly trusted professionals take care of everything. We will supervise every job and make sure things run smoothly.
WHO CLEANS THE PROPERTY?
It is up to you whether you want to get the apartment ready for the next guest or if you would like our professional cleaning team to take care of it. Just let us know if you need linen or a cleaning service after your stay and we will arrange things accordingly.