Would you rent to DSS/ rent gurantee scheme or privately rented?

CATS

Hi All,

We are in the fortunate position to be able to rent our current property whilst moving houses. I want to rent it long term with secure payments. What do you think the best way to do this would be? Would you accept DSS tenants? I am tempted to put it into a rent gurantee scheme so they can manage it and pay the rent to us regardless.

Thanks

Pixie5740

You're the LL so you're letting property, not renting it.


Tenants claiming housing benefit (or whatever it's called these days) are no different to other tenants. There are good ones and bad ones. As long as you adequately reference prospective tenants then I don't see that it would make much difference.


How long are you planning on letting this property out for?

pathtofreedom

Have you paid the mortgage off in full? If not you'll need to check your insurance and terms of consent to let/ btl as that sometimes says you can't rent to certain people.

If you use one of those guarentee rent schemes I think this changes your tax / business liabilties. There is a thread explaining it but I can't find it right now but someone else might have the link.

theartfullodger

DSS was dissolved in 2001.

No offence, but if you really are so behind the times in understanding what is going on these days do course on being a landlord 1st. It will save you money.

mjoneseyjones

theartfullodger wrote: »

DSS was dissolved in 2001.

No offence, but if you really are so behind the times in understanding what is going on these days do course on being a landlord 1st. It will save you money.

Because the use of up to date acronyms directly correlates with the ability to let ones property...

No offence but if someone with your level of logic can manage being a landlord, it's obviously not the complex undertaking some on here like to paint it as.

G_M

As above, DSS does not exist.

I am reticent about letting (LETTING) to claimants but as suggested above it depends on the claim type. And the individual. And my gut-feeling. And other vetting criteria (references etc). And wheter there is a guarantor.

As for the rent guarantee schemes, look long and hard at how they work. Bear in mind you willprobably not have an AST, you will have a commercial tenancy with.... whoever, and they will have an AST with the occupant.

Under a commercial tenancy, your options are reduced. There have been several threads in the last year from LLs unable to get their properties back easily

Even where rent has dried up. They can't use a S8 Notice for rent arrears as they have no AST so have to sue for breach of contract.... blah blah nightmare....

See also

New Landlords (information for new or prospective landlords)

Letting Agents (Tips for selecting, and tips for sacking them)