Alternative to Property Management - ??? Tenant

syo2

Hi all!

A couple of months ago, I found a website of a company which described themselves as "(something) tenants" (or "(something) landlords"). I can't remember what the something was, though, and I can't remember their name.

WIth a traditional letting agent and management company, the landlord has a contract with the tenant and doesn't get paid between tenancies. The landlord would also have to deal with damage done to the property during tenancy.

This company offered a service where they would sign a tenancy agreement with me and in turn sublet the property to a tenant, which would mean that I would be paid rent, even between tenancies. Also, they would be responsible for returning the property to me in the same condition as they found it, and therefore they would deal with any damage caused to the property. And they would still give the final say of tenants to the landlord.

I'm really interested in finding them (or similar companies) as a matter of urgency as I am looking to change letting agent and mangement agent of my property.

If anybody can help me, PLEASE DO REPLY!

Thank you so much in advance!

G_M

Your post indicates a degree of naivity in property letting. You need to read a lot and learn. Start here:


* New landlords: advice, information & links

As for your post:

syo2 wrote: »

Hi all!

A couple of months ago, I found a website of a company which described themselves as "(something) tenants" (or "(something) landlords"). I can't remember what the something was, though, and I can't remember their name.
well I can't remember what website you found either!

WIth a traditional letting agent and management company, the landlord has a contract with the tenant
Correct
and doesn't get paid between tenancies.
Incorrect
The landlord would also have to deal with damage done to the property during tenancy.
unless he employs an agent on his behalf.
Or has insurance

This company offered a service where they would sign a tenancy agreement with me
So you have a commercial tenancy NOT an AST - this is very different
and in turn sublet the property to a tenant,
the contract bewteen the company and the subtenant would be an AST. You would have no control over who the subtenant is, or what terms the tenancy. You could alos not evict the sub tenant.
which would mean that I would be paid rent, even between tenancies.
You would get rent whichever contract you had: direct AST tenancy, or commercial tenancy with sub-let via AST

Also, they would be responsible for returning the property to me in the same condition as they found it,
This is true in both cases
and therefore they would deal with any damage caused to the property. And they would still give the final say of tenants to the landlord.
I very much doubt this

I'm really interested in finding them (or similar companies) as a matter of urgency as I am looking to change letting agent and mangement agent of my property.

If anybody can help me, PLEASE DO REPLY!

Thank you so much in advance!

If your current agent is not passing rent to you during the life of the tenancy, either
* they are cheating you or
* you have a very unusual contract with them!

Read:

* Deposits: payment, protection and return

* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

* Rent increases: when & how can rent be increased?

* Repossession: what if a LL's mortgage lender repossesses the property?

* New landlords: advice, information & links

* Letting agents: how should a landlord select or sack?


I believe you are referring to a rent guarantee scheme of some kind - note:

Rent Guarantee Schemes
Some Housing Associations, councils, and private letting agencies offer schemes which guarantee your monthly rental income, removing the risk of costly voids between tenants. The advantage of these schemes is obviously the certainty of regular income to pay your mortgage etc. Against this you must weigh 1) the (significantly?) lower rent you will receive; 2) the removal of your freedom to select either the specific tenant or even the type of tenant; 3) the reality that the HA/agent etc will have little concern for the protection/condition of your property; 4) the reality that their priority will be to have a tenant (any tenant) in occupation. Additionally you should ensure that your landlords insurance/mortgage terms do not prohibit the type of tenant the HA/agent plans to install.

Additionally, be aware your contract will be a commercial tenancy, not an AST (Assured Shorthold Tenancy). This has significant legal ramifications (eg S21, S8, S13 Notices don't apply).

syo2

Thank you, @G_M, for your response.

I'll have a look into the links that you provided.