When you look at what to do with your investment properties, it is important to consider all options. Finefair Ltd can help you to do just that. With our assistance you can consider private sector leasing in Sutton and other parts of the city. We can advise you about the benefits and then help to set everything up for you.

What is private sector leasing?

This is probably the first question you will have. The answer is a simple one. Instead of letting directly to a tenant, with this kind of leasing you work with the local council. You won’t have to do any of the work regarding tenancies that you have to if you let privately.

The interesting thing here is what you are doing is giving the council permission to use your property to provide housing for locals. They will select someone to live in the home. These will be people at risk of becoming homeless or already without a permanent residence. For example, it can be low income individuals and families, care leavers, people with disabilities, and the elderly.

The best thing here is the council will pay you the rent every month. It will be almost like they are your tenants rather than the people who will actually live in the property.

At this point you are probably wondering why you should choose this kind of option. There are plenty of amazing benefits. They include financial, logistical, and organisational advantages. Plus, the schemes are very convenient.

Guaranteeing your income

By far the main reason to choose private sector leasing in Sutton is the protection it offers you financially. There are a number of risks if you let privately. For example, you can have voids when no tenants are living in the property so you miss out on rent. There can also be a risk that the tenant does not pay. You don’t have to worry about issues like these with leasing. The council will pay monthly without fail. It will be their responsibility to address voids and collect any rent they are due.

In a financial sense you can also enjoy some impressive savings. You won’t need to pay for marketing the property, working with an agent, or any other fees. It can mean you are in a better position.

Vacancies

While it won’t be your concern, it is also comforting that the private leasing usually means properties aren’t vacant very often. That can be important as empty properties can face issues like burglary or vandalism. The condition can also deteriorate without residents and upkeep.

The great thing here is councils tend to have lots of people waiting for housing. Some in London have waiting lists in the thousands with years to wait for a home. So, when you join a scheme it is usually the case that people will be able to move in promptly and replacements will be available at any time if necessary. Your property should never be vacant for long.

Damage

A big risk to owners is the damage tenants could cause. There is a level of trust whenever you invite someone to live in a property. However, some people abuse this trust. It may be intentional damages, neglect, or even making alterations without permission. Whatever the case, in normal circumstances you would likely have to deal with some part of the repair bill or the whole thing.

Private leasing is exceptional in this sense. The council will understand their responsibility here. It will be up to them to make sure they check that tenants will behave properly. If not, they will have to cover repairs. The agreement should protect you from any bills so you don’t have to worry.

Talk to us if you have any interest in private sector leasing in Sutton

As you can see, working with the council is a great option. The benefits are wonderful and can make your life as a landlord easier. You will only need to deal with the council and they’ll handle the important things like tenants, management, and maintenance. As a result your workload will be smaller and you get financial security too.

So, if you want to explore your options here, speak to us. We are one of the best names for private sector leasing in Sutton. Our team know how the schemes work and can give you all the info you need. We can also help with setting up, including checking properties are habitable and you have all the necessary documents.