How it works
We’re exceptionally proud of the fact that 98% of the landlords who’ve had the chance to extend their contract with us have chosen to do so.
We are not an estate agency – there is no commission payable, no sign-up fees, and no hidden charges. We sub-let large properties and in the process take on the bulk of the lettings responsibility (both financially and legally). This leaves the landlord free to focus on more important things such finding new investments or just getting on with your life.
In a nutshell:
- You rent us your 3+ bedroom house on a 3 to 5 year agreement.
- Kingdom Houses prepares your property including furnishing, painting, repairing
- Kingdom Houses then rents out each individual room to a working professional person directly on a six month contract (you do not become legally responsibly for this sub-tenancy)
- HMO Licenses: Kingdom Houses will, where a property needs, apply for the HMO license and pay the HMO fee. The cost of any compliance work requires will then be split 50/50 with the landlord paying half and Kingdom Houses paying half.
Benefits in a nutshell:
- We keep your property in tip-top shape
- You receive your rent hassle free
- Kingdom Houses can assist in arranging repairs and many repairs can be carried out in house for as little as £35
- Your property is fully managed for 0% commission
Our average tenant stays in the same property for two years and a large proportion stay within Kingdom Houses’ managed properties until they either leave London or make the leap onto the property ladder.
Our maintenance schedule (including weekly cleanings) plus move-in upgrades we make to the property (e.g. small touch up repairs, painting, gardening, additional facilities, replacement of worn furniture and fixtures) and our dedication to keeping the stock quality high (painting out rooms once in a while) means your property will be in a better condition should we move out. It is our mission, vision and goal to become the de facto company for professional London Flatsharing.
“After having my property ruined by a DSS family I rented to Kingdom Houses and not only did they repair most of the damage but they have been instrumental in keeping the place in good repair and making backlog improvements.”
“After I was let down by a previous company let that resulted in internal smokers, large parties and make-shift locks Kingdom Houses saved the day when the took on the property and did the required repairs. I have been using them ever since for all maintenance requirements.”
“Taking on Kingdom Houses was the single most risky business decision I have ever made. Freeland Road is a brand new-build property but the 2008 crash struck and I took a chance. That has paid of immensely with the property in excellent condition and my property has since grown by over £1m in value.”
The basics – spelt out:
Nothing. If your property is a bad condition we can carry out the refurbishment but this will be at your cost.
We make our money on renting out the individual rooms and charging a little extra. Some maintenance expenses are passed through to the landlord.
We rent properties from landlords and provide accommodation to working professionals. Our value add is that we take a property that is only ready for a family to move in and add everything (including legal compliance) that is needed such that it can be rented to professional sharers, we then take it one step further and secure professional sharers and manage their tenancy. You have the freedom of NOT having to deal with tenants and estate agents.
Yes but free! The main difference is an estate agency will charge 15%+VAT on the rent and on all repair bills. This puts less money in your pocket.
Kingdom Houses pays you a fixed rent every month (even if rooms are empty). We can manage the maintenance on the property, and we take the midnight phone calls for emergencies. Keeping the property in a tenant-like condition is all Kingdom Houses’ responsibility. From the landlord’s perspective we believe we’re your perfect tenant – think of us as the family tenant that looks after you house
There are other property management companies in London who focus on shared accommodation but for most it’s a numbers game of herding cattle. We are different. We only take on properties we ourselves would live in and only sourced tenants we ourselves would feel comfortable living with.
Almost all Kingdom Houses’ staff either have in the past or currently live in a Kingdom Houses – we eat our own dog food so to speak.
Think of us as providing a 0% fully managed estate agency service – basically unheard of!
Typically we need large properties in London, Zone 2-5. The larger the property the better suited it is for Kingdom Houses’ requirements and our smallest property at time of writing is a three bedroom two reception property which has had its front reception converted to offer four bedrooms, a separate lounge, and a kitchen/diner.
We take any large sized house and are also interested in purpose built HMO buildings with 10 bedrooms or more, and blocks of studios or one bed flats.
The first Kingdom House was an attempt to help friends within a local church secure safe, clean and looked after accommodation. During this process we saw a gap in the market and left our careers with a focus on providing the highest quality accommodation possible.
There is significant overlap between rooms, studios and 1 bed flats and as such we have plans of branching out into regular lettings in the future but for the time being find our efficiency is in having only one business model.
You the landlord still get paid. That is a problem for Kingdom Houses and is why we are so strict with our vetting process. At the end of the day it is our rent that is at risk.
This model contrasts so starkly with estate agencies who will happily take their 10% commission cut but are nowhere to be found when the tenant starts defaulting.
Kingdom Houses becomes your sole tenant via either an Assured Short-Hold Tenancy or a commercial agreement. Typically this is for a period of 3 to 6 years
As little as you will allow us! Joking, sort of. We will come and do a valuation of your property and offer what we feel is a fair market rate (or the maximum we can as we will not take a property on at a loss). With 0% agency commission fees you are already ahead of the rest and you must always compare what we offer you with the net rent you will receive through a high street agent.
We value each and every single bedroom individually and put it onto a very complicated spreadsheet. From this we determine the viability of your property and what we can offer you. If you want crazy money you are best of talking to the Green Animal estate agency that know how to rip people off.
One week from the date of which we receive the keys. This is on the basis that the property is ready and tenantable. If we have to carry out pre-approved refurbishment works on your behalf we will inform you of these and the timelines associated with that.
As the owner of the property you will be financially responsible for the usual things a landlord is responsible for. We have a test to determine which items falls under this and it is simple: “What would John Doe and his wife expect?” If it would be your responsibility under a normal tenancy to a family then it would be your responsibility still.
As we manage the tenants we would already have done all the legwork for you including the initial visit to determine what the issue is and have a list of options available. We will arrange access so that you do not have to and can deal with the contractor fees too (passing those on).
You will also have access to our in-house handyman team which is charged at a standard rate of £35 for the first hour and then £20 per hour thereafter. This offer is extremely low for London and is only available on properties we manage, don’t ask us to send our team to a property we do not manage.
Yes. We pay a standard one month deposit. We also naturally take a deposit from every resident and their deposit is then registered and secured in a Deposit Protection Scheme as is required by law.
Yes. Just make sure he can do a quick turn-around and isn’t booked for the next two months.
Through our strong brand and partner organisations. Word of mouth, local churches, local business and our local presence is our strongest means of finding new potential tenants.
Vetting is done through a triangle requirement of employer reference, previous landlord reference and credit check. We take a copy of all new tenant’s passport. We have in the past refused applicants by using a bit of discernment and following out gut.
There are other bits but we won’t give away all our secrets.
Surprisingly I can count on one hand the amount students we have. A fair amount of them studying at prestigious universities as post graduates (read: over 25).
Most of our residents are in their late 20s early 30s, have jobs and are either saving to get onto the property ladder or building on their career. Your home will not be turned into a hostel or dormitory and we limit the amount of occupants to a property based on the facilities available.
Formal inspections carried out at least once every six months along with spring cleaning. Spring cleaning is where we take our cleaners to the property we are inspecting and have them clean all kinds of extra stuff from our checklist. This ensures mould and nasties don’t build up.
The checklist along with photos will be sent straight to your email inbox.
We operate shoeless policies in all houses. Storage is provided just past the front door. This has been proven to significantly reduce the major wear and tear factor which is carpets and flooring.
Typically properties are in a better or just as good condition after a few years as when we took them on. With our regular maintenance scheme including replacing the bathroom sealant, painting here and there, touching up wood, repairing cupboards etc… the place is always looked after.
Your asset is safe.
The contract in place allows you to regain control of the property under such a circumstance at which point you can decide to serve all occupants with one month notice to regain vacant possession, manage it yourself, or hand it over to another management company.