Can I rent out my Right To Buy Flat once purchased

seven-day-weekend

Mossfarr wrote: »

I'd be very interested to know what evidence you have to support this ridiculous theory.
I have ex-council properties which I rent out to excellent long term tenants. I've never had any difficulty finding tenants, in fact I usually have several good applicants to choose from.
The reality is that my tenants specifically choose to rent ex-council properties as they are in the communities they grew up in and they want to stay close to family. They usually would not be eligible for social housing so they are a perfect fit.
And just for the record I have never acquired any of my properties through Right to Buy - they were already in private ownership when I bought them. In fact my Local Authority now sells all their older housing stock as soon as it falls empty via auction or subsidised housing purchase schemes for first time buyers.

Fifteen years ago we also had an ex-council bungalow that we rented out. The couple who rented it had wanted one of these properties for ages, but were not eligible for one with the council. They stayed for about five years, then were eligible for a sheltered flat, so they took that.

We charged the same rent as the council bungalows.

When we sold it, again, there was people waiting to buy one of these properties and a lady who had sold her house and gone into rental paid cash for it.

So I agree you don't necessarily always get bad tenants in an ex-council place.

The property was one of these: http://www.historywebsite.co.uk/interesting/prefabs/prefabs08x.jpg

Cash-Cows

Ironically it may be possible to rent it back to the council.

Norman_Castle

Cakeguts wrote: »

I think that should read so that tenants can see that their car has been propped up on bricks when they get up the next morning.

Do you spend your days off driving around council estates sneering at people?

DPDRC90

Cakeguts wrote: »

Yes you can but don't expect to get any really good tenants. Good tenants don't rent ex council properties. They prefer to rent properties that have never been owned by any council. So you are going to have to research very carefully the obligations of being a landlord because you are likely to get tenants who don't pay the rent and who wreck the place. If you had wanted a buy to let you should have bought a private property that had never been owned by the council not a council flat. You may find that this particular flat is going to be more trouble to let than it is worth.

What a load of rubbish. This is nothing more than your opinion that you are trying to pass off as fact.

'Good tenants don't rent ex council properties'... laughable. Plenty of good tenants in my area renting ex council properties. You sound nothing more than a snob.

ThemeOne

It all depends on the property and the area. I have very good tenants in an ex-council flat in Southampton, for example.

caprikid1

If no one else has I call TROLL !

fairy_lights

armchaireconomist

Ah, so council tenant has enough cash to buy council property outright at taxpayer discounted rate, to transfer property into private rental.


Need I continue? You're everything that's wrong and immoral about RTB.

Marvel1

I know decent people renting council property.


I know not so decent owners (not ex-council) - think parking out their house believing they own it.

Cakeguts

ThemeOne wrote: »

It all depends on the property and the area. I have very good tenants in an ex-council flat in Southampton, for example.

Southampton is not Manchester. Some of the council estates in the North are huge and have boarded up properties because council tenants don't want to have to live on them. How much do you think they sell for? Who do you think buys them? If council tenants don't want to live on them how on earth does anyone think a private tenant would want to rent there?

The point about the areas around Manchester city centre is that there is plenty of affordable property for working people to rent. There isn't the pressure on housing that there is in some places in the South. Because of the choice of property working people don't need to rent a house on an ex council estate to get an affordable rent. There are areas of council housing in greater Manchester where people won't buy an ex council estate because they can get something as affordable on the open market and they don't want to buy an ex council house.

http://www.rightmove.co.uk/property-for-sale/property-70005674.html This is an ex council house.

http://www.rightmove.co.uk/property-for-sale/property-69992969.html This is not. These houses are really close to each other.

That is just two examples but this situation is repeated all over the area.