guaranteed lease scheme

[csw]

I am considering taking up a guaranteed lease scheme. Does anyone have experience of this - the advantages are obvious but I am wondering about hidden drawbacks? I bought the house two years ago through the agents concerned and found them a pleasure to deal with.

Caroline

[Poppy]

Excuse my ignorance, what do you mean by "guaranteed lease scheme" - does that mean you have let your property to a council or local authority or some other sub-landlord?

[csw]

The agents let to Housing Associations and guarantee to pay rent to me for a period of one to five years.

[shaf]

Hi Caroline

Not sure, but wouldn't it be better to let directly to the Hosuing Assoc, it would cut out the middle man, as most HAs manage the property as well as guarantee the rent, so Letting Agent not really required.

I know in Hillingdon there are at least 4-5 HA that operate a guarantee scheme.

Which area is your property, maybe you can contact the local council to see what schemes they have on offer.

Regards

Shaf

[csw]

Yes, I thought of this too, but the council does not do any private sector leasing and the HAs I have rung don't either. The house is in Newham. I can't believe that everything is in the hands of agents, though.

Caroline