BTL - Studio/1-bed in London or 3-bed in Midlands?

bamberbamboo

Thing I'll pop down tommorrow to local office and see what they have to say, thanks for your info,

lynzpower

Hi all

there are 2 ways of going about it

You should always ensure your rents are fair by contacting http://www.therentservice.gov.uk/ For example you couldnt ask a grand a week for a studio flat! This is through the housing benefit route.

The other option is speak to your local authority social services department. In the LA where I work there is a specific person who deals with aquiring rental properties for homeless families. Some tenants may be whats termed intentionally homeless ( ie they have done something that has rendered them anti-social or otherwise) that meant they have been evicted from council stock. However, they are still entitled to HB
Not all are "nightmare" I was working with an old chap a while ago who was found IH after selling a property he coudnt afford 7 years previous. Lovely chap, just subject to the vagaries of the legal system. So finding a property for him to rent under HB was the perfect solution. Another example is a family whos immigration claims are in dispute ( I was working with an american family- dad lost his fab job, they were not entitled to HB..) they had kids, not entitled to council stock due to immigration difficulties. As the fmily were destiture the SOCIAL SERVICES dept paid the rent and deposit upfront. as the child classed as in need under S17 of the children Act. All pretty technical but the upshot is that the Social services dept paid the rent & dep adn not housing benefit.

balsingh

lynzpower - what if the tennant that is put in your house causes damage to the property or causes problmes for the neighbours? What happens then? Who is responsible?

lynzpower

if the tenants cause problems ( ie transhing the place) it will come out of the deposit, in the same way as if you rented to professionals or students.

If they cause problems with the neighbours you may actually be in a more secure position if the family has a social worker, and they can be better linked into services like youth offending teams or similar. If you rented to professionals or students or social services clients, you are always going to have the potential of the tenants causing problems. You could always stipulate to a certain degree who you will take ie no one whos been evicted for ASBO behaviour.
hope this helps Lynz
x

balsingh

lynz - you're a star!! your comments on this thread have been really helpful. :T

lynzpower

Always a pleasure :beer: