At Finefair Ltd we want to be the perfect partner for property investors who target London. One way we do this is by helping them to choose the right method for letting or leasing their properties. It is important to decide whether to opt for the private market or to work with the local council. The latter can offer some really good rewards. As the most successful company for letting to councils Brent has, any investor can come to us for advice about this topic.
What is the difference?
Many investors will be wondering what the difference is between the two options. The most important one is that you have far more responsibility when you are a private landlord. You have to worry about finding tenants, make sure the tenancy agreements are right, manage the property so it is safe to inhabit, collect rent, and more. There can also be other requirements such as licensing.
When you choose to lease with a local council there is less responsibility. Much of this moves over to the local authority because they will be managing the property and finding tenants. You will remain the owner of the property and will receive a rental income each month without having to do the work yourself.
Which option is best for you?
Every investor is different. Some will want to be hands on and want the ability to choose the tenants themselves. They may also want to take care of managing the property. Here the private market is the best option.
However, if you want less work to do and guarantees on your rental income, letting to the councils is perfect for you. It can be the right option for investors who don’t know the local market or worry about voids. Many people also choose it so they can get a secure income for a period of time before taking back ownership and deciding whether to sell or arrange another solution.
Try letting to councils in Brent
Finefair Ltd has a great relationship with local authorities all over London. What this does is give us a much better idea of how the leasing schemes work. It also tells us more about what kind of properties the council’s are looking for. Some have different needs to reflect the people they have on their housing lists.
Our goal here is to make sure that all sides benefit. We want to give councils access to more homes and ensure the owners get the secure income they deserve. These arrangements also benefit the tenants. There can be a long wait for properties, especially in London. It can be harder when councils struggle to build new homes. However, these leases boost supply.
So, if you are thinking about letting to councils, Brent landlords have nobody better to speak to. Finefair Ltd can answer questions and give you lots of advice. We can also offer these same great services to clients in other parts of London.
You can contact us today if you need any help.