cityrooms.com any good?

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    cityrooms.com any good?

    Newbie here, Just moving to a new residential property and planning to let current property. Got a call from a agent saying representing a cooperate client and it was actually cityrooms who were his client. They had a look at property and said will look to make offer soon and did the normal selling expected. anyone have advice/experience on if cityrooms is a good option to have as tenant? Basically they rent from you and then rent to others mainly room basis. they do sign 2-5 year contracts with rent guaranteed it seems.

    #2
    Walk away............
    Is it your own house or a flat with a lease.
    If lease, you may have problems.

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      #3
      It is my own house, freehold. Any reason to walk away? I know they will have to offer bit less to market price as the middle man. but the guaranteed rent for 2-5 yrs seems attractive.

      Comment


        #4
        The forum rules don't allow people to make recommendations about specific agents.

        However, the consensus appears to be that all rent to rent agreements need to be avoided like the plague.

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          #5
          They're a company running a business.
          If their business model benefitted landlords, they'd be landlords.

          It looks like a great business, but what do they need you for?

          Ask them that next time they call.
          All you are is a cost to them (unlike owning a property that's an asset with a value).
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #6
            Originally posted by lbrent View Post
            It is my own house, freehold. Any reason to walk away? I know they will have to offer bit less to market price as the middle man. but the guaranteed rent for 2-5 yrs seems attractive.
            The guaranteed rent comes from them charging the going rent, and giving you less. so why not let at the market rent through an agent, on standard one year a.s.t's.

            Seems you want to fill each bedroom with a tenant, and that may make the property an H.M.O. ( house in multiple occupation ) for which it's too easy to not know about. ( research it )

            Comment


              #7
              Generally Rent to Rent is a bad idea in many ways. At least in this specific case, the company in question isn't brand new with no assets. They have been around for a while and last I checked (though that were a while back) they were doing fairly well for themselves.

              Now from personal experiences of dealing with them from the tenant side...... $%^&*(). I think I'll get banned from this forum if i put it down in actual words!
              I am not a lawyer, nor am I licensed to provide any regulated advice. None of my posts should be treated as legal or financial advice.

              I do not answer questions through private messages which should be posted publicly on the forum.

              Comment


                #8
                ok the consensus in clear, thanks all for taking time to give your thoughts.

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