What is Rent to Rent: an arrangement where a landlord still has major control over their properties.
In this case, the landlord agrees to let a Rent to Rent company to let and manage the property.
Depending on the area and location, the property is given to workers or professionals. Some landlords go for this option when they don’t live in the area and want nothing to do with their property or they may be overwhelmed by responsibilities.
What happens at the end of a tenancy
Receiving a guaranteed rent each and every month may be an attractive offer.
Also, many of these companies offer a light refurbishment at the beginning and at the end of the tenancy. This way, they release the landlords of the cost of updating their own properties.
How to navigate the changes in tax relief for landlords
When one of these companies takes over a property from a landlord, they immediately start to market the property on a room-by-room basis. It is possible to make a decent income following this specific formula.
Winter insurance tips for your rental property
If you decide to go for this method, then you will need to simply:
- have your offer accepted by an agent,
- factor in the refurb costs,
- add any maintenance that may be required,
- add monthly costs and utility bills.
The difference between all costs and the rent received is the profit.
This is not for all landlords, though it is a growing business where a proportion of the landlords want the freedom of not dealing with their property at all.
You can find out more in this article.
What is West London Property Networking?
If you have any questions on property management, please contact Pelin Martin to book a 30-minute free consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk
