Finefair Ltd strives to be the ideal partner for property investors who choose assets in London. One way we help them is by selecting the right approach for letting their properties. It is essential to determine whether you want to work with the council or stick to the private market. We are the most successful business for letting to councils Redbridge has. Therefore, investors who have yet to make a decision can ask us for advice.
Why should I work with a council?
The majority of landlords normally opt to let their buildings to private tenants. However, it can be a struggle for them. Here, a landlord has all sorts of responsibilities. For one thing, they have to satisfy their local council’s requirements. In addition, they must make certain that the tenants can inhabit the property legally, and keep the property safe. Then there is maintenance as well as collecting the rent and more.
Voids are particularly concerning for landlords. These are times when there is no one living in the building. The longer you go without having any tenants, the more rental income you are going to lose in the long run. Landlords usually rely on this money to cover their costs and pay mortgages. Knowing this, voids become even more worrying.
Instead of private letting, a landlord could consider partnering up with their local council. The majority of councils in the UK want properties because they have more people on their housing lists than they can accommodate with their current stock. Building new homes takes time and can be costly. So, dealing with landlords can be the best option.
Working with the council can help you to overcome concerns relating to rent collection, property management, and even voids. As a result it is always worth considering.
What is the best option?
Every investor will want to do things their own way. There are those who prefer a hands on approach and would like to choose the tenants themselves. Moreover, they will want to attend to the property management. For them, private letting would be preferable.
However, those who don’t want the workload or responsibility and want to receive guarantees on their rental income should work with the council. It can be a great way for investors that lack market knowledge to get used to things. Many individuals also use it to secure an income for a while before checking the market conditions. They can then decide whether to choose another arrangement, switch to private letting or sell the property.
Find out more about letting to councils in Redbridge
Finefair Ltd has working relationships with countless local councils all over London. As a result, we gain a better understanding of what type of properties it is they need. We also find out about the preferred terms. Next, we advise those property owners that are thinking of how to deal with leasing their properties. In the end, we can help the landlord decide if working with the council is right for them.
If you would like to speak to the smartest team working in letting to councils Redbridge has, please let us know. We can arrange a great service for you that will offer reliable rental guarantees and more.