The cost of the admin fee is in line with that of most other private landlords.

This, coupled with the fact that we do not retain a deposit on the vast majority of our houses unlike most agents makes us more, and not less, competitive.

Rebooking admin costs encompass similar work to the original contract and can often involve more work and less profit. 

The cycle for single year letting describes a group arriving in September and departing in June with a new group arriving the following September. 

Where landlords offer half summer rent they will often let the house during the summer to holiday makers to mitigate the loss of only securing half summer rent. 

However, where a group of tenants remain for a further year it is not possible to let a house to holiday makers with the continuing group’s possessions remaining over the vacation.

Some groups may initially state their intention to remain for a further year but later change their mind – perhaps due to falling out with each other. 

Should groups drop out after Leydon Lettings take a property off the market it can result in having to pay readvertising costs and accept potentially unsuitable late viewers.  We can even suffer a void in occupation. 

There is therefore a commercial advantage in our securing early viewers. 

Early viewers and early re-bookers are usually the most organised and therefore cost us less in administrative time: chasing documents and payments, standing orders, parental guarantees and ultimately late rent payments.

Chasing such matters is time consuming and thus incurs significant extra work and costs.

Leydon Lettings often either maintain the same rent for a further year to remaining tenants only; or offer a loyalty discount, this actually represents a reduction in real terms considering inflation.

The level of any increase is likely to be around £2 per person and applicable to contracts signed after 1 November 2008.  Check the website for prices and the contract rent prior to signing.

The payment of the admin fee in addition to covering our costs has the additional bi-product advantage of confirming that re-bookings are reliable.

Without an admin fee tenants could reserve a house with impunity; then change their minds when it is too late for Leydonlettings to find a replacement group. 

Groups only view between October and January.

After January any vacancies involve cobbling together a group of individuals who may not be compatible - with predictable additional problems and costs.

Most of Leydon Lettings houses are in popular areas and offer more features than other properties. 

Leydon Lettings therefore do not need to reduce rents (or hold the price) in order to let properties. 

Continuing tenants on the one hand pay admin fees but on the other hand have a loyalty discount if they book early enough.  New tenants pay both.

If the timing of the admin fee is a problem to pay, discuss this with Ledon Lettings. 

Providing most people pay before signing we may accept a possible late admin fee depending on the proposed date.

It is important to Leydonlettings that you do not feel resentful in any decision to remain - for this reason we have taken the time to explain our policies together with our costs.

There is always a landlord offering a house which is bigger / better; nearer / nicer; and cheaper – at Leydon Lettings we firmly believe we are one of them.  We hope you agree!

 

The reason for creating deadlines for reserving your house for a further year is because by November we will have several appointments to view most houses.  So for some tenants it will be too late to reserve a house in November and for others their house will still be available to reserve by the same or another group.  We need to be certain which groups are committed to remaining so we can focus our time viewing houses not being retained.

There is no deadline to reserve a house as such, however, we will not hold the house without a commitment.  This means should a group express interest in your house we will feel free to let it until it is reserved.

Some tenants misinterpret the fact that most students view in November to mean that they have until November to decide.  By 1 November 2008 almost half Leydonlettings houses had already been reserved for 2009-2010. 

Initially viewings concentrate on houses occupied by final year students unlikely to want to remain after their degree is finished.  However, if a new group indicates in October that they would definitely like a specific house then, having provided the current group with an opportunity to remain, should they fail to confirm a desire to remain, this is a clear indication they are uncommitted.

Why wait for one uncommitted group to pay less and meantime hedge their bets and hold onto a house in the hope of finding something better, when another group is already eager to say yes at full rent?