Letting to a fundraising company

2nd_mortgage

My BTL property is currently on the market to be let.

I have been told of an interest by a fundraising company to rent it out as a "team home" for their fundraising team.

Does anyone have any experience of the above ? Any issues I need to be wary of ?

Thanks,

2nd mortgage.

princeofpounds

Fundraisers... Don't confuse with nice fluffy charity workers. I am thinking more chuggers...

Anyway, main point is letting to a company is a whole different kettle of fish to an individual. It is much more about the letter of the contract and whilst more responsibility can be pushed into a corporate, as a LL your position can also be much weaker if not careful.

xHannahx

I would be wary, as you don't know who the individuals are that will be living there and I assume won't have carried background checks on the individuals.
Are they of reputable background?
Will they take care of property if they have no deposit on the line?

PlutoinCapricorn

This sounds odd to me: I know that some companies appoint fundraisers to work from their own homes to avoid paying for office space, but have never heard of a team living together.

I would get more information before committing yourself.

davidmcn

princeofpounds wrote: »

Anyway, main point is letting to a company is a whole different kettle of fish to an individual. It is much more about the letter of the contract and whilst more responsibility can be pushed into a corporate, as a LL your position can also be much weaker if not careful.

And if the OP has a mortgage, it is probably a condition that they only create Assured Shorthold / Short Assured tenancies.

Guest101

xHannahx wrote: »

I would be wary, as you don't know who the individuals are that will be living there and I assume won't have carried background checks on the individuals.
Are they of reputable background?
Will they take care of property if they have no deposit on the line?

Equally a well established company with no immediate 'midnight flits' will cover this damage, pay rent on time, and be less hassle overall.

Remember the tenant will be the company, they will be responsible no matter who is in the property.

G_M

It will be a commercial tenancy, not an AST.

* most BTL mortgages prohibit this
* most landlords insurance policies will be invalid
* there'll be no control over the occupants

As suggested above also, I wonder what kind of company this is - they may be kosher, they may not.

I'd be very cautious........

2nd_mortgage

Thanks everyone for your replies.
It is a well known fundraising company that raises funds for St Johns ambulance in England.
I have contacted my mortgage provider. They have asked for more details before deciding. Next call is to the landlord insurers.