If you are an investor in possession of a buy to let property, you may be able to receive a cash incentive of up to £1000 when you choose to lease your property to Hounslow Council. This initiative is intended to encourage landlords to take part in council leasing and give them the confidence that their property will be well looked after, while simultaneously giving more options to local people who are living in temporary accommodation in the borough. The exact amount you receive will depend on various different factors, including the type and size of property and how many bedrooms it has.
If you opt for council leasing in Hounslow, you may wish to get involved in the Private Sector Leasing Scheme. In this case, the council will lease the property and take over all responsibility for management, with no fees involved. You will not have to worry about repairs, maintenance or any of the other day to day concerns of a landlord, and you will be paid guaranteed rent each month throughout the duration of the lease. You will also receive an incentive payment of up to £1000.
The other option is the Direct Letting Scheme. This involved the council providing you with a private tenant in return for a 12 month Assured Shorthold Tenancy. Unlike with Private Sector Leasing, you will still have responsibility for managing the property; you will also have access to incentive payments of between £2,100 and £5,300, depending on how many bedrooms your property has.
We have extensive experience arranging council leasing in Hounslow and throughout all other London boroughs, so if you think this may be the right choice for your property investment, just get in touch. We’ll be happy to help you throughout the entire process and embark on a successful letting scheme that suits your needs as a landlord.