When you rent to a corporate tenant you are renting to an organisation and not to an individual. Providing the correct checks are made on the company this provides the landlord with a more financially secure tenant.
Many corporate tenants are Blue Chip, medicine household name companies who want to protect their reputation and integrity. This means that if their individual employees don’t behave as expected they will step in to resolve issues and make amends if necessary. They are much easier to hold to account should there be any dilapidations to pay for.
While the individual living in the property may change over time the corporation is likely to want to move in another employee, storeresulting in a longer tenancy than a private individual.
As the employees are usually high-flying executives who are being relocated by their company they are generally: hard working (hardly there); high earners (can afford a cleaner); and renting out their own home (respectful of others property).
If the letting agent you use has a client base that includes these Blue Chip companies, and your property is the right match for their needs, then it can be a very quick process to let the property and draft the necessary paperwork. Should one Corporate Tenant give notice your agent may be able to introduce another company to your property. This avoids any chance of your property being vacant between lets.
Unlike an Assured Shorthold Tenancy a Common Law Tenancy allows the landlord to bring the tenancy to an end on any grounds specified in the tenancy agreement. The landlord is not restricted to the prescribed grounds set out in Schedule 2 of the Housing Act. All corporate tenancies set up by Riley Marshall are Common Law Tenancies.
If you want a corporate tenant then call us on 0207 394 1160, email email@example.com.