Find out 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 let and manage the property.
Depending on the area and location, the property is rented to workers or professionals. Some landlords go for this option when they don’t live in the area and want nothing to do with his 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 “Rent to Rent” 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 a “Rent to Rent” company takes over a property from a landlord, they immediately start to market the property on a room-by-room basis. Rents have increased in many parts of the country. So, it is possible to make a decent income following a “Rent to Rent” formula.
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,
- the rent and the 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.