Recommendation - Company Let

[PaulW23]

I have a property that my Agents have recommended a company let with a local Charity that supports young people coming out of Care Homes. The charity let the property under a company let agreement and pay all the rent.
The problem I am finding is getting insurance for such a situation. It is not a normal company let where employees are the tenants and its not an AST.

Can anybody recommend an Insurance company that will take this sort of let agreement because all the ones I have tried so far won't
Alternatively can anybody recommend an alternative way of restructuring the tenancy agreement?

Thanks in advance

[nukecad]

What your agents are proposing is a let-to-let arrangement.

The general advice is to avoid such schemes like the plague.

You are letting to a company (the charity). They then let you property to someone else.

The people they put into the property are not your tenants, you have no say or rights over who goes in there.
You cannot even evict them if needed, because they are not your tenants.

You are always told they are going to be 'nice people' in 'genuine need', such as coming out of a care home.
The reality is they are usually going to be 'recovering' drug addicts, alcoholics, prison leavers, etc.
Even if they are care leavers think about why they were in care in the first place, that often means 'troubled' teenagers.

In other words people who you would never even consider renting to.

It could go well, some such arrangements do.
But if you do it then go into it with your eyes fully open - because it oftengoes pear shaped for the landlord who didn't realise just what they were agreeing to..

Landlords insurance that cover you for the actions of the tenants does not apply - because the people living there are not your tenants.

[theartfullodger]

Google rent to rent scam.

Avoid

[jpkeates]

Can anybody recommend an Insurance company that will take this sort of let agreement because all the ones I have tried so far won't

Glib answer - that's because insurance companies specialise in measuring risk, and there's a reason that they don't want this kind of business.

More sensible answer - You need to talk to an insurance broker, website and online applications won't support anything not 100% vanilla.

And I agree with the responses above, it's a terrible idea and I'd be asking the agent what the F they think they're playing at?
Demand for rental property is the highest I can remember, rents are through the roof and people are offering way over the asking price for a chance to get a decent property and they're suggesting rent to rent?

[royw]

I agree with the above, there's a very good reason insurers don't want to take on this risk. Perhaps you ask the agent why they think you should. Personally I'd be looking at using an agent who wants to get the best for me.