Sounds like a dream doesn't it?
The thought of no tenants nagging you, no maintenance issues, no voids. Just 5 years of uninterrupted rental bliss!
Where do professional landlords go for their landlord insurance?
Well not according to the Telegraph
The story highlights the concept of private sector leasing. Property Hawk did highlight this concept back in 2006
In essence the managing company, in this case Orchard & Shipman manages on behalf of their local authority client the letting of the property. The investment property is let effectively to the council for anywhere between 2-5 years. The downside for the landlord is that the property is effectively tied up for this period and therefore cannot be sold or used by them. The positives is that landlords pass the responsibilites to the managing agent and they get paid whether the council puts in tenants or not. Orchard and Shipman currently run schemes in London and Edinburgh and landlords interested in the scheme should visit their website.
FREE LETTINGS SOFTWARE to enable landlords to manage their residential investment property more effectively
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