Is NHS family relocations offer a suspiciously good deal?

Is NHS family relocations offer a suspiciously good deal?

0:03 AM, 15th October 2024, About a month ago 15

Text Size

I am currently advertising my property for rent in London and was recently contacted by HPL Estates. They claim to have been in operation for 55 years, with their main office in Maidenhead and four branches around London.

During a phone conversation, a representative emphasised their contractual agreement with the NHS to support family relocations.

Subsequently, another representative visited my property to assess it and discuss their offer. Key elements of their proposed deal include:

Offering £2,750 per month with no fees for a 2-year contract, including a 12-month break clause. This is higher than my advertised rate of £2,600. I would sign a management contract, allowing them to act as my agent. HPL would provide the tenant.

The tenant would sign an Assured Shorthold Tenancy (AST) agreement directly with me as their landlord. HPL would be responsible for any repairs and maintenance. I would remain liable for obtaining the necessary certificates.

To evaluate the contractual terms, I used ChatGPT to compare the sample AST provided by HPL with the standard NRLA AST. This comparison revealed several noteworthy points:

HPL includes a penalty of £1,200 per month if a tenant fails to meet a notice to quit deadline. A penalty of £50 per day is imposed for late rent payments. These penalties may be considered excessive and potentially challengeable in court.

The NRLA AST appears to be clearer and more detailed in comparison. In researching HPL Estates online, I found their website to be unimpressive and struggled to find additional information. Aside from their Companies House registration, I discovered no reviews or tenant experiences. They also have no presence on platforms like Rightmove, and even ChatGPT found no substantial digital footprint for them. However, there might be other resources I haven’t checked yet.

As I am relatively inexperienced in working with corporate letting agents, I am seeking advice on the best course of action. The offer seems almost too good to be true, so I would greatly appreciate insights from anyone familiar with such arrangements to help me make a well-informed decision.

Thanks,

Geoff


Share This Article


Comments

paul thomason

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

22:22 PM, 15th October 2024, About a month ago

Reply to the comment left by Paul Essex at 15/10/2024 - 12:14
Thy are dormant company no,history

Tom Jenkin

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

22:36 PM, 15th October 2024, About a month ago

Reply to the comment left by paul thomason at 15/10/2024 - 22:22
Just go to Companies House website, it gives you all the information you need .

The company only has £3,341 in cash , no property assets , is marked as dormant, has never been involved in property management in its 45 year history, from the records it seems to be used as a holding company for various other companies, but ceased any active trading 20 years ago .

Scammers love companies like this because it is easy to use them as a cover for the scam .

Paul Essex

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

17:12 PM, 16th October 2024, About a month ago

The comment that they intend to use a AST is a total red flag, it should be a company lease in these circumstances.

GK

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

13:07 PM, 17th October 2024, About a month ago

Thanks everyone who provided a their input.

Well, it seems that there are no real reasons to feel confident about HPL Estates or company lets in general.

So, I shall carry on with what I have always done and let the property out myself.

Tom Jenkin

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

13:10 PM, 17th October 2024, About a month ago

Reply to the comment left by GK at 17/10/2024 - 13:07
Wise decision

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More