Council leasing is a great opportunity for landlords and lets them give something back to the community. Rather than renting properties out with a letting agent or management company, you can put them into the hands of the local councils to be used as housing for homeless or vulnerable residents. Letting with the council will ensure you receive a fair guaranteed rental fee every month and means you don’t need to worry about managing or maintaining the property, as all that work will be taken care of by the experts.
Renting with a council is very simple and the majority of properties will qualify. Requirements differ depending on the particular area but they must be self contained, have at least one bedroom and be unfurnished. The kitchen should have a cooker in it and all gas and electric certification should be provided. Properties with gardens are welcome but the landlord will generally retain responsibility for caring for external spaces.
The length of the lease with the council will vary depending on the requirements of the landlord and their needs. Throughout the course of the contract landlords aren’t responsible for finding tenants or management costs. Councils will bear this responsibility and will also guarantee that the property is returned in good condition at the end of the agreement. The agreed rental fee will be paid every month whether properties are occupied or not.
This form of letting is fantastic from a monetary and ethical standpoint. Landlords are guaranteed to receive a set fee and also get to do their part for helping people in dire need of housing. Working with the council provides security and means you don’t need to get involved in the tough world of marketing and managing a property. Council leasing works well because it is beneficial to all parties. We can advise you and provide practical help if you are interesting in leasing your investment property through the council, as we have extensive experience working with all London borough councils including Lambeth, Greenwich, Hackney, Southwark, and many more.