HMO with rent to rent model (guaranteed rent scheme) agreement

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    HMO with rent to rent model (guaranteed rent scheme) agreement

    Hi

    i have a property to let as a HMO, I received a rent to rent offer i was wondering what contract i should sign between me and the agent.

    Robert

    #2
    None: Don't go near it!

    See this as an (one of many..) examples of why such arrangements are unwise...
    https://forums.landlordzone.co.uk/fo...ith-subtenants
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

    Comment


      #3
      Be prepared to be getting more of these I have had 3 so far. @ OP are your HMO in an area where the local authority have brought in licensing? I think these dodgy characters are looking at the public registers

      Comment


        #4
        Theartfullodger is absolutely right , such schemes should be avoided like the plague , indeed I would go so far as saying that such arrangements are not acceptable so far as lenders are concerned.

        These arrangements are often promulgated by so called property educators as a means of getting a high return but without any of the hassle.If you have a marketable HMO then this itself can be profitable without abrogating your legal obligations under your arrangement with the lender. Remember if it sounds too good to be true it certainly is.

        Comment


          #5
          I suppose its down to individual experience, I've let 8 properties to this one company in Docklands, and they have been paying me on time every month since 2009. I have heard many people have a stigma towards them but its down to what you want. I wanted my property fully managed and that's what they gave me

          Comment


            #6
            Much will depend on who the lender is to determine if what you have undertaken complies with the criteria and mortgage terms which you signed up to when the mortgage completed.

            Comment


              #7
              Originally posted by amirulh View Post
              I suppose its down to individual experience, I've let 8 properties to this one company in Docklands, and they have been paying me on time every month since 2009. I have heard many people have a stigma towards them but its down to what you want. I wanted my property fully managed and that's what they gave me
              If you watch this video you may feel differently: https://www.anthonygold.co.uk/latest...to-rent-scams/

              Comment


                #8
                Originally posted by DPT57 View Post

                If you watch this video you may feel differently: https://www.anthonygold.co.uk/latest...to-rent-scams/
                I've watched the video but I must say; I've mentioned I've been with this company for 10 years nearly. the agreement we have is very well set out, they're very professional. my rent gets paid in advance every month, I am fully aware of all the tenants in the house in each room, and also have monthly inspections which I have stopped after the first year. My properties are fully maintained and any touch up work that needs to be done gets done and I don't get hassled.

                there is a stigma about these companies, but its legally okay, as long as their under the HMO allowance and im not in legal trouble and my properties are well maintained and only house corporate clients, I am happy.

                Comment

                Latest Activity

                Collapse

                Working...
                X