Finefair Ltd has spent a long time working in the real estate industry. We understand that property owners can struggle to make decisions about their properties. Some wait for better market conditions while others sell right away. When they hold onto assets, they must decide whether to let to tenants or not. Letting is a great strategy since it provides you with an income. There is more than one way to let as well. You can take the private route or team up with the local council. We often find ourselves aiding clients with making their decision. We do this because we are one of the best sources of knowledge about letting to councils Southwark has.
How does council letting differ from private letting?
For investors new to the business, they will likely be wondering what the difference is between the two choices. To start with, you have much more responsibility when you let privately. You need to ensure the tenancy agreements are in order, find tenants, collect rent, and manage the property. These are just some of the jobs you need to do. Licensing and other requirements have to be met too.
When someone decides to work with their local council, generally they do so because there is less responsibility. The local authority takes on many of the jobs you would normally have to do. They will be the ones finding tenants and managing the building. You will still be the owner of the property and gain a rental income every month. The council will be the one doing most of the work though.
How do things work?
The council letting schemes aren’t too difficult to follow. Some can differ slightly depending on the councils’ individual needs and how they reward landlords. However, the majority of them have a similar gist. What it shall consist of is you coming to an agreement on the length of time you will hand your property over for. Some schemes can be very long while others can only last for a year.
If you want to do less work and desire guarantees on the rental income you receive, letting to councils is the best choice for you. We recommend it to every investor that has worries about voids or lacks experience in the local market. Numerous people like using it because they can acquire a secure income too. They will receive the money each month during the scheme and take back full ownership at a later date. From there, they can decide to arrange something else or sell.
Speak to us about letting to councils in Southwark
To this day, we remain one of the leading names working in council letting in London. For years, we have been helping landlords meet their requirements. We have managed to establish some excellent relationships during this time. In addition, we understand what it is that councils are looking for. Our services benefit everyone, making them great for every party.
So, if you are considering letting to councils, Southwark has nobody better to speak to. Plus, we offer great services in other London Boroughs. You should definitely get in touch with us if you need a service. We are already managing numerous properties across the capital and our credentials are outstanding. Our team members will be more than happy to help you get to where you want to be.