Being a landlord without hassle

Is it possible to be a landlord and avoiding the hassle associated with having rental property and tenants? Well yes and there are several ways of doing this.

The first we have talked about before in the form of Private Sector Leasing.  This is where a landlord enters into a long-term lease with a local authority who then sub-leases the property to a tenant.  The local authority takes on the responsibility for letting the property along with all maintenance costs leaving the landlord with limited responsibilities.

An alternative is to invest in a retail bond from one of the many housing associations.  A2Dominion Housing Group is offering a unsecured bond paying 4.75% providing landlords with a regular income.  No hassle but equally no capital appreciation.  I'm guessing this is why us landlords endure.

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Private Sector Leasing service

A London Council is attempting to ease the demand on scarce social housing resources by putting its residents in touch with private landlords.

Harrow Council have established their own agency Help2Let  to put residents seeking accommodation in touch with approved private landlords who have met the councils set standards.

The tenant find service is paid for by the landlord who in return receive advice and also a 2 month rent guarantee bond.

This scheme is an example of the increasingly prevalent private sector leasing initiative where the public sector seeks to utilise the private sector to fill their accommodation capacity gap.

The experience of landlords of the schemes appears to be mixed.  Some like the certainty and convenience of a medium term let.  Whilst others appear to have had their property returned in less than ideal condition!  Any views...

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Midlands rental property needed

A Midlands Housing Co-operative (BCHS) is looking for a range of good quality private rental properties in Sandwell, Birmingham, Walsall and Wolverhampton under a private sector leasing scheme.

The properties will be rented from landlords with rents guaranteed for up to 3 years along with repairs and lettings of the property to be taken care of by BCHS.

BCHS is part of the Accord group of Housing Associations.

To find out more.

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Hassle free letting - Westminster

Westminster landlords looking for a hassle free letting option should check out the latest offer from Private Sector Leasing specialist Orchard & Shipman.

They operate what they call LetFirst.

LetFirst allows landlords to let their property for free for the first 2 months and also guarantees rent for 12 months. In their own words:

"LetFirst is a unique scheme for private landlords that not only makes it easier and quicker to let your property, but also guarantees your income for 12 months. If for any reason the tenant can't pay the rent, then we will. So there's no need for expensive 'void' periods, or expensive legal wrangles with awkward or unsuitable tenants."


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Private rented sector consultation

RICS has responded to an HM Treasury consultation looking at how investment in the private rented sector in the UK can be increased.

Go here to download the RICS consulation response- Increasing investment in the private rented sector

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Private sector leasing - hassle free buy-to-let?

Landlords looking for a guarantee rent and looking at investing in property in London and the South East such check out the concept of private sector leasing.

This is a concept pioneered by companies such as Orchard and Shipman and that offer a landlord guaranteed rents payed by the local authority, no voids and the property itself managed by the company but without the management fees. Sounds too good to be true?

The downside of this is that a landlord may not get the full amount of rent that they would in the open market. However many landlords may feel like this is a small sacrifice for the fact that rents are guaranteed for up to 5 years.

Orchard and Shipman run a number of schemes for local authorities. Currently in England there are looking for 1-5 bedroom properties in the London Borough of Hillingdon.

They also offer opportunities to invest residential property in Scotland, to find out more landlords should inquire direct.

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