Landlord FAQ's
WHAT IS YOUR FEE STRUCTURE? Our fees vary depending on the level of service required, this can range from one-off agreed fees for tenancy find, project managing a build, full or blended management. We offer transparent fee structure that is agreed with the landlord in advance. We will provide a comprehensive breakdown of what is included in any fees after and during any initial consultations with our clients.
WHAT IS THE PROCESS OF CLIENT ONBOARDING AND HOW LONG DOES IT TAKE TO MOVE AGENTS? Switching to our property management services is usually straightforward and hassle-free. Once you and MDPM exchange and complete on contracts, this authorises us to act on your behalf. If you are switching from another agent, we can assist in notifying them and ensuring all legal and contractual obligations are met. We will then coordinate with your previous agent in regards to any due diligence, compliance and tenant agreements in place. This includes ensuring that tenant deposits are secured and all information ported over to MDPM as needed. On completion of the administrative process. MDPM will introduce themselves to tenants, conduct our own reviews of compliance and due diligence to ensure that both tenants and landlords are protected. The process is designed to ensure a smooth transition as possible for both landlords and tenants. Any significant issues that come to our attention that are relevant to clients will be raised with landlords ASAP, to coordinate tasks and actions, including with the previous agents if necessary. The entire process typically takes between 1-2 weeks. The speed of this is usually determined by how compliant your previous agent is in terms of handover. It can also be impacted by your own contractual agreements with agents and tenants, especially as it pertains to notices etc. We will always communicate clearly and transparently with all parties to ensure that the process is seamless with as little disruption to all parties as possible.
WHAT PARTS OF THE UK DOES MDPM MANAGEMENT COVER? With reference to HMO's our focus has exclusively been on London and the South East of England. Though we will consider areas on the fringes of this patch if we can guarantee the quality of service and cover the duty of care demanded by HMO management. Our current footprint covers Greater London, Woking/ Surrey and East Anglia. Though we are flexible in regards to single let properties as these demand less resources in terms of day to day operational need. We will always nevertheless put the landlord and the tenant at the heart of any decisions to take a client. We do not chase growth at any cost if this means not being able to provide both landlords and tenants the exceptional services we have at the heart of all we do.
WHAT IS THE USP OF MDPM AND WHY SHOULD I MOVE MY BUSINESS TO YOU? The most obvious considerations are primarily anchored in, yield, growth of your investment, quality services and long term ROI. However the distinction between us and other agents is we do not chase growth for its own sake but only where we can maintain the bespoke services and quality we have a reputation for. Each and every client is important and matters. We take a relationship led approach and working with MDPM feels like you are working with a true partner. INHERENT IN OUR DNA IS AN ENVIABLE SERVICE THAT ILLUSTRATES WE TRULY CARE. This commitment is both peerless and unique. A house is a significant capital investment, we know our clients want an agent who values their asset and treats it as their own. Similarly, the amenity and happiness of tenants ensures landlord achieve their financial and personal needs. As our care and exceptional services ensure that voids are minimised, tenant retention maintained, and adjustments are never zero sum. With MDPM you get a family feel, an emotionally engaged team, and a non negotiable commitment to professionalism and quality.
DO WE MANAGE COMMERCIAL PROPERTY? No - Unfortunately MDPM is not looking to enter the commercial rental market.
HOW ARE RENTS COLLECTED AND IS MY MONEY PROTECTED? MDPM is a whole process management system. We do not compromise on this and as such alongside collecting all rents we also chase all arrears. Depending on how many properties we manage, we collect all rents monthly on our clients behalf, transferring the balance of payments directly to landlords each month. We deduct any management fees, revenue costs in advance transferring the gross sum due to the landlord. Of course a complete breakdown earnings, performance and expenses are available to every landlord. Allowing you to assess both MDPM performance and the performance of your property. MDPM is also a member of all obligatory trade and regulatory bodies. To ensure that we manage your properties and finances with the highest adherence to industry standards. In regards to our client finances, our client funds are held and processed in a secure and distinct client account. This is protected by any statutory underwriting and insurance. No client money is interspersed with or kept in MDPM's separate business accounts. Similarly MDPM not only maintains robust internal financial controls, we have exceptional vetting of supply chains, and adhere to strict procurement processes as an extra layer of protection for our clients. MDPM is always happy to candidly discuss concerns, answer questions and approach this issue with integrity, honesty to ensure this basic issue of trust and your funds are kept safe.
CAN YOU ASSIST WITH RENOVATIONS AND PROJECT MANAGEMENT OF A PROPERTY IN ADVANCE OF TAKING MANAGEMENT RESPONSIBILITIES? In short Yes. MDPM is happy to work with landlords and clients to project manage any capital projects. This can be mid cycle or in advance of taking on management responsibilities. MDPM is also happy to work with clients merely seeking to to home improvements, or renovations as a one off contract without the view to management such as your own home. Working with clients we are happy to take on as much or as little responsibility as you feel comfortable with negotiated in advance. MDPM will provide a consultation and quote based on client needs. MDPM has peerless experience, an exceptional roster of quality tradespeople to ensure that your project is managed well, of exceptional quality, and at competitive rates. MDPM are experts in mid cycle renovations of HMO's ensuring that alongside addressing inevitable wear and tear, your assets continue to balance value and quality that maximise yields while protecting your property. Please visit our renovations page for more information and to see our portfolio of work.
DO I NEED AN HMO LICENCE? HMO licensing can often be truncated, burdonesome and odd. This is exacerbated by a lack of consistency across the UK and the different approaches to licensing a local authority takes. In short the need of the licence is often determined by where the HMO is, and the regulatory burdens placed by both national policy and local government. It is also important for landlords to recognise that even if inadvertent they may be breaking law in regards to what constitutes as an HMO. In general, if your property is rented by three or more tenants who are not from the same household and share facilities such as a kitchen or bathroom, you may need an HMO license. Other considerations you need to consider are: number of tenants, type of the property, facilities available to tenants. E.g landlords may assume a property is an HMO however the ratio of bathrooms to rooms may push your home into single banded individual units which may mean unforeseen expenses if VOA determine each room as a banded property for council tax. MDPM is on hand to navigate your niche situation and deal with the regulatory quagmires on your behalf. Please get in touch to enquire how we can assist and at what fee.
CAN MDPM ASSIST WITH GETTING AN HMO LICENSED? Yes, MDPM can assist with getting your property HMO licensed. We can guide you through the entire process, ensuring that your property meets all the necessary requirements and complies with local council regulations. Our team can help with the application, provide advice on any necessary improvements or adjustments to the property, and ensure that all documentation is properly submitted. We aim to make the licensing process as smooth and efficient as possible for you
HOW LONG DOES IT TAKE YOU TO SOURCE A TENANT FOR MY PROPERTY? With considerations to external factors outside of our control, such as notice periods any other mitigating issues, Our assurance is that we will lease your property within a calendar month, or during the notice period of the current tenant. The sooner MDPM is engaged after a tenant issues notice the more efficient and effective our service is. MDPM will take care of the entire process our fees include services such as dressing rooms, marketing, copy, viewings, referencing and exchange of contracts. It is worth stressing that we not just source tenants, but place a premium on vetting tenants to ensure that alongside rent, the property will be cherished and looked after minimising costs. MDPM understands that a longer void time is preferable to arrears, lack of payment , court fees or significant damage. That the short term gains of a avoiding a void can mean long term financial pain to our clients. Though we state that the maximum time is a calendar month or notice period. MDPM can assure clients that our current performance of our portfolio is zero days void. With our longest historic void period amounting to three days on average.
HOW OFTEN DO YOU INSPECT MY PROPERTIES? Inspection cadence can be arranged directly with clients preferences. MDPM will however always urge landlords to respect the amenity and implied rights inherent within an AST. For HMOs our agents visit the property every week to ensure everything is running smoothly and to address any issues promptly. This usually also ensures that we comply with regulatory obligations such as FRA inspections. Informally most of our properties incur a cleaning service once a week, or other services such as grounds maintenance or repairs. Often the frequency of visits is higher than planned to ensure that we can arrest concerns becoming crisis and generally spot issues early and intervene as needed.
HOW DOES TENANT FIND WORK? Our tenant find service is designed to help you find the most suitable tenant for your property in a timely and efficient manner. Once you engage with us, we will begin by marketing your property across multiple platforms, including online property portals, social media, and our own network to reach as many potential tenants as possible. We will arrange and conduct property viewings for interested tenants, ensuring that each one has a full understanding of the property and its features. Our thorough vetting process includes referencing, credit checks, employment and income verification, and reviewing previous landlord references, which ensures that we only present you with reliable and responsible tenants. Once a suitable tenant is found, we will handle the offer and lease agreement process, ensuring that all legal requirements are met and that the tenant is ready to move in. Finally, we assist with the move-in process, making sure everything is in place and the tenant has all the necessary details for a smooth transition. Our goal is to find you the best possible tenant while saving you time and ensuring a hassle-free process.
HOW MANY PROPERTIES OF MINE CAN I TRANSFER TO MDPM You can transfer as many properties as you like to MDPM. The more properties you entrust to us, the better management pricing you will receive. For new clients, we offer three months of management fees free, allowing you to experience our service and see how we work before committing to a long-term arrangement.