Frequently Asked Questions
Please take a moment to familiarise yourself with these questions to ensure you understand our processes.
Why are there two contracts?
In order to sublet the apartment to your guests you must first have the legal right to do so. Your first contract is your tenancy agreement, placing the property in your name allowing you to sublet. The second contract then comes in the form of your Management agreement. This allows you to commission the management company to let your apartment out to guests on your behalf. The management company will provide you with a monthly report identifying your rental income.
It is vital that you understand that one contract does not affect the other, your tenancy agreement is you agreeing to pay your rent each month on the specified date.Your management agreement allows our property management team to market your apartment generating you a monthly income.
What am I (the investor) liable for on a monthly basis?
As you have signed your tenancy agreement you are liable to pay your rent on a set date each month. We will assist you in setting this up using our card-less payment system. Along with your monthly rent, you are also liable to pay your council tax and utility bills on a monthly basis.
Who can help set up the monthly bills?
Here at We Stay we can assist you in setting up your utility bills. However, as all bills will be in your name it is advised that you lead the way with the initial set up. This allows you to manage the monthly outgoings.
Why use We Stay Property Management?
We Stay work directly with landlords and developers to obtain luxury apartments in the most desirable locations by offering assurances that they will be managed and maintained to the highest possible standard. We have built credibility and trust with a vast number of landlords, agents and developers across the UK which allows us to continually source these in demand properties.
We always put ourselves into our customers shoes. We practice excellence and proactive customer service, offering a personal touch.
Clients trust us to adhere to our word. We operate honestly with all of our stakeholders and encourage open communication.
We work tirelessly to make We Stay the utmost respected property brand. We operate with honesty, reliability and professionalism at all times in our dealings with clients, guests, partners and members of our own team. We provide superior quality serviced apartments that: guests highly recommend to their family and friends, landlords trust us to occupy and manage, investors seek for long-term returns and employees are proud of. We cater to guest's individual needs through our expert knowledge and impeccable customer service.
How do you maximise my occupancy rate?
Apart from the dynamic pricing strategies we utilise to fill any open dates, what sets us apart is that we do not focus on just one platform. We leverage more that 30+ platforms from across the world to attract a variety of guests to maximise the occupancy rate and gain vast exposure.
How is my ADR (average daily rate) calculated?
We use dynamic pricing software to determine the ADR. (average daily rate) The software forecasts demand for the following 12 months based on localised market data, updating every 24 hours, ensuring pricing improvement opportunities are captured.
What does the management fee include?
Channel Management system
Dynamic Pricing Optimisation
Guest Vetting & guest communication
Quarterly property condition visits
Can I do my own inventory?
The ADR’s projected are based on your apartment being up to our high standard, therefore we will conduct the set up and inventory to ensure consistency across our brand and ensure your apartment has the highest potential for the best returns to you.
Do I need contents insurance?
If there are damages to any of your purchased inventory items, during a guest stay, we will utilise their deposit to have anything replaced that is within that budget. However, if the home is burgled, there is a fire or something else which causes damage beyond that deposit amount, we cannot protect your assets using this same system. We do not suggest it as compulsory, it is entirely up to you, as the client, to choose whether you would like to take out a policy or not.