Get Inolved
Who we work with
Lets For Life are a Registered provider (No.4863) and a registered charity (No. 08972242). We specialise in specialist supported accommodation with people with learning and physical disability and/or autism.
We are proud to work with investors who appreciate this opportunity to be an investment and not a ‘get rich scheme’. Our specialised Supported Housing are eligible for exempt rents, due to the higher standards and costs required for our tenants.
This type of investment is more suited for landlords who wish to have a long, secure investment with a steady income. Lets For Life aim to work with the right partners to help tackle environmental and social challenges.
How it works at Lets for Life
Initially we start the process of LFL gathering information regarding "Property Requirements" from the applicant. We then produce a housing spec for the landlord to calculate a core lease figure. LFL will review to ensure it is reasonable and achievable via Housing Benefits. This will be based on adaptations required, market rents, property itself.
Once the financials have been agreed LFL will seek commissioner backing and submit rent tests to Housing Benefit. Please note that HB are not obliged to confirm discussing the rents prior to submission.
Upon approval and once all of the works and paperwork (see Our Standards and Required Documents) are completed we will arrange for our property team to visit the property. We can then agree the Heads of Terms. It is imperative that the works are fully completed and there isn’t anything outstanding and documents are sent over prior when our property team visits. Our team will visit the property and complete a condition audit and inventory.
Once we are happy the property is ready and suitable for our lease, we will set a lease and tenancy start date and our team will draft all paper work. The lease will start on the same day as the AST.
Our Standards
LFL pride themselves on our properties being of decent home plus standards. Therefore, we only accept properties in new/recently refurbished condition. LFL will advise the landlord on further recommendations upon visit. For any apartments we have a minimum requirement of 45 SqM per one bedroom unit.
LFL will sign into and FRI where our experienced Property Management team will carry out all repairs and maintenance for the property and insurance. We do however recognise not all items can be new. There may be an instance where, for example, a roof may need replacing in 5 years time. In this case we will put an addendum in the lease to state it will be the landlord’s responsibility to carry this out.
Required Documents
- Full address of property
- Photographs & Floorplan
- Gas Safety Cert
- White goods to be under 2 years old
- Structural Report
- Legionella Risk Assessment
- PAT tested goods
- Boiler to be less than 2 years old
- Energy Performance Cert
- Electrical Report (EICR) with recommendations
- *Fire Risk Assessment with completed recommendations
*The FRA will highlight recommendations to be carried out. LFL will require these recommendations to be completed before taking on the lease. Some common examples are listed below and depending on what recommendations are required and property type, this could cost up to around £3,500.
- Fire blanket
- Hard wired alarm system
- Fire proof boarding
- Fire doors and frames
- Fire Extinguishers in exceptional circumstances
Benefits
Fixed monthly rental income into your account.
Full Repair and Insuring Lease where LFL take all maintenance and repair responsibilities.
Full transparency with no management fees or hidden costs.
Fees
If landlord is selling a long-term lease there will be a mobilsation fee of 12 weeks rent upfront. This fee covers the project management work involved from Lets for Life including lease agreements, works required, moving the tenant in etc.
