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Introducing…Accommodation-as-a-Service

The Government’s recent changes to Mortgage Relief, Stamp Duty and Capital Gains, have caused substantial problems for Landlords, Estate Agents and Tenants alike...

For Landlords: the bar for making passive property income has been raised substantially due to all these additional costs...

For Estate Agents: not only are you feeling the knock on effects of these legal changes, but you now have to compete with online agencies and the impending Tenant Fee Bill...

For Tenants: the shrinking supply of properties means finding somewhere to live in London is more complex (and costly) than ever.

It's all a bit bleak...

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The Solution

Concierge by Walton Maslow™ is a new business model for these challenging times.

We partner with Estate Agents to provide Landlords with a superior alternative. We take on the properties they're looking to let for 3-7 years, in which we pay guaranteed rent each and every month - no if's, no but's. 

  • For Landlords: this means peace of mind knowing that they have a long-term tenant, with no income-eating voids.

  • For Estate Agents: we become a ready-made tenant for you to use to satisfy your Landlords, without all the work that comes along with placing tenants.

  • For Tenants: we make finding a place to live simple and provide them with a great experience once they're there.

It's a win for all parties involved. 

Here’s How It Works

Step 1:Secure demand

We’ve built exclusive relationships with full-time professionals working at some of London’s most prestigious companies in the City/Canary Wharf, who are looking for a place to call home. 

The service they pay us for is two-fold, we:

  • Handle the Property Search Legwork

    Our clients are time pressured professionals. We go out and find them long-term housing based on their specifications, so they don’t have to

  • Provide a Boutique Hotel Experience

    This includes interior design, covering bills and maintaining the property in show home condition by providing a complimentary weekly cleaning service and biweekly gardener

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Not a bad deal, is it?

Step 2:Add the Walton Maslow touch

Boutique hotel finishes mean bright, airy spaces with all the latest mod-cons to make living a pleasure. Here's how we do it:

  • Beautify the Space

    We typically spend between £3000 – £5000 upfront on light refurbishment and small improvements to the properties we take on. We cover this cost (not the Landlord), with our interior design team working to beautify the space and add value.

  • Trick Out with Tech

    We add cool smart home technology to the property to make the experience fun and convenient for our clients. This includes things like a 50″ smart TV and smart lighting.

  • Leave for the Landlord

    As a thank you for partnering with us, at the end of our agreement we leave all the upgrades we make (including the new technology and any new furniture) for the Landlord. This means they can bank higher rental income due to their gorgeously presented home!

This is the most important step in the process, as far as we're concerned. If we don't ensure the property looks stunning, we can't deliver on the promise we've made to our clients and our business model falls apart.

The fact that we have to put this investment up front into a property we don't own also means that our incentives are very much aligned with the Landlord's when it comes to making sure we have only the best tenants possible in the property - we have skin in the game too.

Step 3:Place and pay

Once the property has been brought up to the boutique hotel standard we pride ourselves on, we then place our clients in their new home.

Before setting foot in any of our properties, though, each of our clients must:

  • Pass Referencing

    We put every tenant through referencing via top referencing companies like Van Mildert.

  • Sign Minimum 12-month ASTs

    We don’t do any short-term lets (aka no AirBnB) and we do not sublet. The company let agreement we sign with the Landlord enables us to place our clients in individual rooms signed to an individual AST, in accordance with the Housing Act.

  • Put Down a Deposit

    We take deposits from each client we place in a property. These are secured in a Government-backed deposit protection scheme (we use DPS).

Money TalkHow we guarantee rent

It’s easy to promise  guaranteed rent, but it's another thing to actually deliver on it.

We're able to make this promise confidently because of our differentiated business model: our clients are willing to pay us a premium for our two-tier service, and from there it's just a maths calculation.

If we can still make a little bit of profit from this premium after we:

 

  • Factor in Void Periods

    We budget for up to 6 weeks of annual voids.

  • Take Out Rental Guarantee Insurance

    We add the cost for a policy on each tenant, so that in the unlikely event that they didn’t pay we’d still have the cash to pay our Landlord partners, and Estate Agents.

  • Cover our Service Costs

    This includes the cleaner, gardener, paying their bills and handling maintenance, then the deal’s a go.

It’s a win-win if we can get the maths to work out. But, our model only works if we can maintain an amazing service for our clients and justify that premium. That’s why we have got more demand than supply of great properties right now and say no to the vast majority of opportunities presented to us.

Four Levels of Estate Agent/Landlord Rent Protection

Referencing

Each individual tenant must pass stringent referencing. We are happy to use your Agency’s referencing company of choice to do this.

Rent Guarantee Insurance

Once they pass referencing, we take out Insurance to guarantee that rent, in the unlikely event that they don’t pay, you still get your money.

Deposits

We take deposits from each client we place in a property. These are secured in a Government-backed deposit protection scheme (we use DPS).

Guarantors

All our clients must provide us with guarantors as the final line of rental income protection.

Check OutOur recent work

Learn More AboutOur vision

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Benefits ofWorking with us.

For Estate Agents

Spacing

  • We become a ready-made tenant to fill your lettings inventory and help you satisfy your landlords.

  • You get steady monthly cashflow for multiple years.

  • We do not do any short-term lets, so you never have to worry about seeing a property on AirBnB.

  • As our business grows, so does yours: we can take on even more of your properties.

For Landlords

Spacing

  • We take on your costs, so you pocket more of your rent money each month.

  • No more chasing tenants for money and no voids.

  • We keep your asset in show home condition, handling maintenance and uplift of the property.

  • Our service comes at no cost to you, and you keep any upgrades we make.

The InfoOur stats at a glance.

Investor Deal Flow QTD
£0K
 
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