Our private sector leasing scheme can be an incredibly profitable opportunity to explore as a landlord.
It's a relatively simple process to understand. It begins with you letting property to local authorities. These authorities use your house to accommodate homeless individuals or those at risk of becoming homeless. Elderly, disabled, and low-income individuals can all benefit from this program.
Below, we'll explore the benefits of this scheme. Hopefully, our guide will help you determine if it's the right move for you.
If you're a landlord looking to rent out your property, you might be wondering why you should become a part of a private sector leasing scheme. Why not just find a tenant on your own?
Joining a private sector leasing scheme has several benefits, some of which include:
When you join a private sector leasing scheme, you'll receive guaranteed income. The council you associate with will pay you a fixed sum of money every month, and it'll often pay it in advance.
The tenants will only be responsible for a small portion of the rent if any at all.
If your tenants fail to pay their part, there's no need to worry. When letting property to a local authority they will provide compensation.
Is your building standing empty during the one-, three-, five-, or seven-year contract you signed? Instead of wasting time searching for tenants, you can get a guaranteed income. Your council will pay you even if your house is vacant.
However, no-vacancy situations are pretty rare. There's always a need for this kind of housing, so you'll have no trouble setting up a contract.
You'll also get free advertising when you join this scheme. The council will do all this arduous work for you.
As a result, you can save on marketing costs and put some money back into your pocket.
Suppose your tenants back into a closed garage or bang up your building's walls when moving furniture. Chasing after tenants to pay for these damages can be a nightmare.
When you join a private sector leasing scheme, the council becomes responsible for damages caused by tenants.
As long as you provide the required furnishings for your home, the council you choose will handle the property management. You won't have to worry about performing inspections or arranging for repairs.
As the owner, you'll only need to manage general maintenance and repairs for wear and tear.
Joining this type of scheme is like heaven on Earth for landlords. You won't have to deal with tenants, and most of the “management” work will fall outside your scope.
If you're ready to do some good for homeless individuals and generate income in the process, contact us. Learn more about our guaranteed rent schemes today!
Properties required in all London Boroughs and Essex, to obtain a free rental valuation please fill in the form below and we will get in touch.