Rent to Rent, dubbed the new property get rich scheme

vivatifosi

Out of interest, what happens when the owner of the property serves notice per their agreement? How do the parties below stack up then? I can see that it would force notice to be served to the sub-tenants, but how do they get all the dates to line up legally? Surely they don't have sub-tenants lined up from day one. I wonder how the mechanics would work and what legal rights the sub-tenants have.

CLAPTON

Is this supposed to be something new?

This has been common practice for at least 50 years

What's all the heat about?

OffGridLiving

CLAPTON wrote: »

Is this supposed to be something new?

This has been common practice for at least 50 years

What's all the heat about?

That's what I was thinking, subletting has probably been going on since Roman times. I made the point and then was accused of changing the way I post. As I have never discussed subletting on here, I'm not sure how I've changed my opinion?

demystified

Hmm, perhaps this news should be relayed to those on the "benefits cut for empty rooms" thread! Should be the answer to their problems!

What troubles me though, is with all this extra housing coming onto the market, how will it all be filled? Of course, raise the immigration levels! Problem solved! :idea:

grizzly1911

demystified wrote: »

What troubles me though, is with all this extra housing coming onto the market, how will it all be filled? Of course, raise the immigration levels! Problem solved! :idea:

I thought we had done it the other way round. Allow the immigration but not supplied the accommodation.demand.

Maybe theyw ill net ouit and we will just have a chronic shortage.

John_Pierpoint

As promoted on the BBC today, insulating the ceilings and keeping the curtains shut with appropriate silver foil insulation, should bring in a gross income of over £1,000 a month per room.

I am seriously concerned that this sub letting, hot bedding, market might push up costs and cause unemployment amongst the hard working gardeners.

9 minutes in from the start of the programme
http://www.bbc.co.uk/programmes/b0368fwh

olly300

vivatifosi wrote: »

Out of interest, what happens when the owner of the property serves notice per their agreement? How do the parties below stack up then? I can see that it would force notice to be served to the sub-tenants, but how do they get all the dates to line up legally? Surely they don't have sub-tenants lined up from day one. I wonder how the mechanics would work and what legal rights the sub-tenants have.

One of my mates who was subletting in this way so basically she paid no rent - give one of the long term sub-tenants who was clued up a choice of renting the entire flat out in the way she did it.

He didn't take the option so all the subtenants were given notice to move out.

The agreements are informal so subtenants don't get one months notice to move out they get as much as the tenant decides. In this case they got a few months.

This actually works for a lot of single people especially when they are young.

With subtenants the landlord who owns the property must not deal with them otherwise s/he is creating a legal tenancy with them.