Category Archives: Manjit Virdi

Let Redstones Take the Strain of Property Management

Property Management : Let Redstones Take The Strain!

Whether you are a full time landlord or only let one or two properties as an additional income stream to your regular job, a reputable lettings agent can help you with your property management.  If you have an empty property it’s important to act fast and source a reliable tenant to maximise the return on your investment.

Redstones can help you with this.

What we need from you

Very simply, we ask for the following from our landlords when we assume responsibility for letting your property.

  • The name and address of the legal owners of the property.  Tenants must be provided with this information, together with a UK address and contact number.
  • The details of the bank account which the rent will be paid into.
  • Access to a ‘float’ for repair work to be carried out.  We will agree a limit to this float and the types of repairs that you allow us to authorise in advance.
  • Details of any special cover with regard to your gas, electric and water contracts which may include emergency cover.
  • A copy of the energy performance certificate for your property.
  • Your gas safety certificate.
  • Access to the property for viewings.
Redstones Property Management

Redstones Property Management

How Redstones can help

In addition to providing assistance with the areas mentioned above, we offer the following services to our landlords:-

Accurate property valuation which takes into account current market conditions and demand to achieve the optimum rental yield.

Intensive marketing exposure through our online full colour brochures. Your property is also featured on the top websites, such as Rightmove, Primelocation, Zoopla, Findaproperty, Redstones and many more.

Accompanied viewings which we agree with you in advance.

Fully referenced tenants to ensure that your rent payments are made on time.  Once the tenant’s references are approved we proceed to the next stage in the lettings process.

A comprehensive lettings service, which includes collecting the rent, handling all the administration details, ensuring your tenancy agreement meets legal requirements and covering all urgent issues which may arise during the tenancy.  We are able to draw up all relevant paperwork and maintain close contact with your tenant while formal documents are being prepared.

A photographic digital inventory illustrating the contents and condition of the property at the commencement of the tenancy.  We can also provide a written inventory if required.

Collection of the deposit and the first month’s rent.  Where appropriate the deposit will be placed in a deposit protection scheme.

Transfer responsibility for the payment of your utility and council tax bills into the tenant’s name once up-to-date meter readings have been taken.

Handover of the keys to your tenant once the tenancy agreement has been signed by both parties.

These are just some of the areas in which Redstones can assist in the management of your property.  For more information and to learn why Redstones is your lettings agent of choice, please contact Manjit Virdi who will be happy to answer your questions.

Redstones Property Experts Logo

Redstones Property Franchise: Your Financial Questions Answered

Before investing in a franchise, it is essential to gain an understanding of your financial commitments, together with the potential return on your investment.  Here, we have attempted to cover the most common questions we are asked at Redstones. 

How much is your franchisee fee and what is included?

The total initial investment in a Redstones franchise is approximately £20,000.  This figure includes a franchise fee of £11,995, comprehensive training in all aspects of running the business, equipment, software, marketing support, car livery, your own micro-site and the provision of ‘To Let’ boards.  This takes you all the way through to your business launch.

Can you help with funding?

We can refer you to the major franchise banks who we work closely with to assist our franchisees in their funding requirements.

What additional expenditure is necessary?

The only additional expenditure is a vehicle deposit together with working capital. The amount of working capital required depends on your personal situation.

Are there any ongoing fees?

There is a management fee of 8% plus a marketing fee of 2% of your total sales. These ongoing fees are invested back into the support we offer to you as a franchisee. In addition, we invest significantly in the marketing and development of the Redstones brand on a national basis.

What makes you different?

In comparison to other lettings franchises, the investment required for a Redstones franchise is not only competitive but offers reduced running costs (and subsequently higher profits).  In contrast to typical lettings agencies, Redstones franchisees can work from an office covering an entire region or area which offers the greatest potential for growth.  We consider it to be a more intelligent business model.

Of course, if you are based in a central location which enjoys high footfall levels, it may be worthwhile setting up a high street office. In these cases we offer the option to operate this business model as well.

We pride ourselves in offering our franchisees outstanding value for their investment and a territory comprising around 100,000 households.

How much profit will I make on my franchise?

As a Redstones franchisee, the level of profit you can earn will depend on a variety of factors, such as how efficiently you run your business and the amount of time you spend marketing your services. Earnings are also influenced by local factors such as average rental values in your area and the local competition.

When investing in any franchise, it is essential that you carry out your own due diligence before making a decision.

Can I sell my business at the end of my franchise agreement? 

Yes, you can either renew or sell your business at the end of your franchise agreement with Redstones.  Ultimately, you are building a valuable asset by investing in a Redstones franchise.

If you require further details on any aspects of the above, please don’t hesitate to get in touch with Manjit Virdi, who will be happy to respond to any questions you may have.  We look forward to hearing from you.

Redstones Property Franchise

Meet The Franchise Director – Chris Gillam

Prontaprint was Europe’s largest chain of franchised business centres and, at its peak, had almost  300 franchises in the UK. I joined as Sales & Marketing Manager and was appointed to the Board as Sales & Operations Director in 1990 and soon after was promoted again to the role of Franchise Sales Director. I carried full responsibility for the recruitment effort, including re-sales and was part of a management buyout in 1996 that resulted in a successful exit in 1999.

CG Library pic

I ran the National Franchise Exhibition in 1999 and developed a thorough understanding of the wide range of different recruitment strategies used by the various franchisors attending the exhibitions.

Mail Boxes Etc. have over 140 stores in the UK and I’ve recruited most of their franchisees. MBE operates under master licence and trades from high street based outlets that sell a range of business services to consumers and SME’s and I retain a non-executive financial interest in the business.

I have been a member of the British Franchise Associations Policy Board.

I have a wide general knowledge of franchising, including legal, property lease matters, and a strong focus on franchise recruitment.

I have considerable operational experience……I have conducted many franchise feasibility projects and have been involved with several new franchise launches over the years and have a wide circle of professional contacts that include many within the  legal and banking sectors.

Manjit Virdi

My thoughts, why blog, why I set up Redstones?

Landlord, Letting Agent,Property Expert,  Managing Director of Redstones Property and Redstones Franchise.

My path into the estate agency/lettings market has been far from straightforward.  After graduating from Wolverhampton University with a degree in IT and software, I took up my first position with energy giants Eon working in software development.  While I enjoyed my time with Eon, the allure of running my own business proved too much to resist.

In 2000 I made my initial steps into the property market investing in my first ‘buy to let’ properties working with a lettings agent to locate a suitable tenant and manage the property while I continued to expand my property portfolio.  My decision to set up Redstones evolved directly from my disappointing experience with lettings agents. Whenever a problem arose with my first property my tenant called me directly, although I was paying a management fee ostensibly to avoid these issues.

Realising that the market that was crying out for better customer service, I decided to manage my own portfolio, eventually offering a property management service to family and friends.

Finally, in 2003, I launched Redstones to fill the yawning gap in the market for a reputable lettings agency and I’ve never looked back. Seven years later, we launched our first high street outlet offering a customer focused service covering residential sales, lettings, property management and auctions. Building on our successful foundations in the residential market, we’ve recently extended our service into the commercial sales and lettings sector.

Click here to view the first flagship office  http://www.redstones.co.uk/office-locations/walsall

Having personally established a track record which demonstrates my expertise in the property market over a number of years, 2014 seemed the perfect time to launch my blog.

My aims with this blog are:-

  • To offer a ‘go-to’ source of advice and guidance for property owners and landlords in what can be a stressful market sector. 
  • Provide insight into the Redstones brand for potential franchisees and entrepreneurs exploring the world of franchising.

My vision has always been to establish a national network of offices trading under the Redstones banner and franchising offers the most natural route to achieve this.  A Redstones franchise gives ambitious entrepreneurs the opportunity to develop a successful business within a respected network.

As we build on our reputation and expand our client base we look forward to welcoming new franchisees into our network and continuing to offer our clients a superlative property sales and lettings experience.