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Irina
06-11-2009, 12:51 PM
We are looking for a tenant for our flat, and we received a call from the abovementioned organization. They guarantee your rent for up to 3 years but they caer for unployed and disabled people, i.e. people on benefits. Has anyone dealt with such organization? Are they reliable? What are the pitfalls? Do they tend to negotiate a lower rent? Any experience will be welcome. Just thought I would mention that I dont' deal with unemployed people directly, my contract with be with this organization and rent guaranteed.

jeffrey
06-11-2009, 13:01 PM
Is it a public body, charity, or private company?

Irina
06-11-2009, 13:13 PM
Looks like they are a private company but they work with local authorities helping them to accommodate these people.

www.socialhousingsolutions.co.uk/

Poppy
06-11-2009, 13:46 PM
If you are thinking of letting to a housing association or local authority for a few years, why not have a contract with them directly? This company is an extra layer. Or is this a way for the local authority to deal with one point of contact instead of many individual landlords?

One of the drawbacks of letting to public authorities is that landlords have complained about the standard that the property is returned. Make sure you obtain a very good inventory at the outset that the local authority agrees and signs.

Emma1973
06-11-2009, 17:22 PM
I'm wondering how they make money if they charge no commission to the landlord, but also offer no deposit, no tenant fees to prospective tenants? I've got an idea though............

havensRus
07-11-2009, 10:32 AM
I'm wondering how they make money if they charge no commission to the landlord, but also offer no deposit, no tenant fees to prospective tenants? I've got an idea though............


go on then.... spill the beans ;)

tom999
07-11-2009, 12:01 PM
Some letting agents/companies have long term 'contracts' (=£) with various (governmental) organisations, for example, with the Ministry of Juctice, for housing ex-offenders via leases with private LL's. Other 'contracts' exist for ex-drug offenders, asylum seekers, etc.

Here is an example of a 'guaranteed rent' scheme through a letting agent: Platinum Scheme (http://www.landlordzone.co.uk/forums/showthread.php?p=158030).
The problem seems to be with long term leases is that the LL has very little control of the tenancy, as tenant is the company, which then sub-lets, whilst LL may still be liable for all maintenance (even though the company may be managing the sub-letting). Tenancy is likely to be common-law, not AST.

I have heard from one LL that there is a risk in regards to damage to property via e.g. stealing the boiler & stripping property of copper pipe. It's not the 'no hassle, hands off 100%, someone will look after it & treat it like their own home' investment you may be think it could be.

Also check your mortgage providers (and insurance) terms & conditions in regards how rent is paid (e.g. by a company or housing association). If they don't allow it - many don't, you risk breach of contract.

Berlingogirl
11-09-2012, 12:11 PM
I'd think very carefully about this. Why can't the tenants find a place themselves?

Berlingogirl
11-09-2012, 12:12 PM
Just thought - ask the company to show you their insurance against any damage their tenant might cause.

Brb
11-09-2012, 12:14 PM
Berlingogirl I would think OP has either done it or not by now. This thread is from 2009! :)

Berlingogirl
11-09-2012, 13:24 PM
Oh er, so it is. Perhaps old threads should be deleted from site after say, 6 months.

LesleyAnne
11-09-2012, 13:42 PM
Oh er, so it is. Perhaps old threads should be deleted from site after say, 6 months.

No, because they are a valuable source of information for anyone searching for help on a similar situation.

theartfullodger
11-09-2012, 14:24 PM
Berlingogirl:

Well, you've been very active. Are you landlord/tenant/agent/lawyer/researcher??

Cheers!