renting via the council to DSS tenants with Mortgaged Property

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

    renting via the council to DSS tenants with Mortgaged Property

    Hello. I have a portfolio of traditional dwellings rented to private tenants , all on normal BTL mortgages. I am hoping to branch into the DSS market and have long term lets between my LTD and Local Councils aimed at DSS tenants (tenants on full time benefits) but I don't know the first thing as to how to go about doing this. I know that I will be tied to a smaller group of lenders who support such contracts with the counsel's but has anyone got more experience in the market and if so could you please offer me some advice with how to forge such relationships with the counsels?

    #2
    Very few councils deal direct , you will need to go via an agent. Search for guaranteed rent deals and research whoever you use, there are many fly by nights.
    Expect strict property condition criteria, higher insurance premiums, lower rents and a great deal of wear and tear.
    It can work well for right property but see what demands are first.

    Comment


      #3
      I wouldn't council letting to a counsel.

      Comment


        #4
        Why are you "hoping" to branch into a market you don't know much about?
        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


          #5
          DSS was dissolved in 2001.
          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


            #6
            I'm assuming you are in Manchester?
            Try phoning the council DSS housing team on
            0161 234 4692.

            Comment


              #7
              This sounds like madness to me.

              Comment

              Latest Activity

              Collapse

              • Reply to Epc
                by mariner
                Not quite. The LL can apply to Court for Right of Access & ask Court to apply costs against T.
                29-03-2020, 02:10 AM
              • Epc
                by lavy
                Hi, Wondered if someone could clarify I have property with existing tenants in place long term and the epc has expired but was in force when they moved in . I am aware that it would need to be renewed if a new tenant was to move in . With the new rules coming into force soon must i get an epc done...
                11-02-2020, 12:28 PM
              • Reply to No EPC
                by mariner
                I think you need a valid EPC before the Property can be advertised for sale/rent, but not for an eviction.
                29-03-2020, 01:30 AM
              • No EPC
                by Onepropertypeter
                I have a single property which I have owned since 1998. I currently have had the same tennent for about 10 years. When she began the tennency there was no requirement to have an epc and I was unaware that I needed one! I have decided to sell the property as I am now 70 years old and want the capital....
                28-03-2020, 16:16 PM
              • Reply to Epc
                by flyingfreehold
                Not quite correct. If the tenant refuses upgrades, which is his/her right this is a ground to apply for exemption...
                28-03-2020, 22:15 PM
              • Reply to Asking for 35% off rent
                by AndrewDod
                This is not likely to be valid or easy employed. It does not sound like a deed. What witnesses were there? How many witnesses and who were they? Do you have proof of ID for the Guarantor and witnesses?

                But yes, they are most likely chancers using the law to try to diddle you.
                ...
                28-03-2020, 21:15 PM
              • Asking for 35% off rent
                by Lillylisa
                Hi. I am a fairly new landlord and I only own one property. About a month ago I reached out to my tenants asking if they were okay and if they wanted to get in contact with me please do. Three days later they contacted me to ask for a massive reduction in the rent asking for 35% off. I have no issues...
                28-03-2020, 16:20 PM
              • Reply to Asking for 35% off rent
                by Snorkerz
                Then unfortunately, you will have difficulty enforcing the guarantee (unless your guarantor is named as a tenant or the tenancy agreement is executed as a deed). The reason for that is because

                With your tenancy agreement
                • You give the tenants a tenancy, they give you rent (consideration)
                • Guarantor
                ...
                28-03-2020, 21:13 PM
              • Reply to Asking for 35% off rent
                by Lillylisa
                Ps I’m unable to edit the original. Sorry so long winded. I have a visual impairment & have to use voice dictation. It’s awful!...
                28-03-2020, 21:06 PM
              • Reply to Asking for 35% off rent
                by Lillylisa
                To be clear: the guarantor signed the contract which has a section called The Guarantor which clearly lays out his/her legal liabilities. In this case, he is liable for all the rent not just for his nephews. I’m sure they would not want this to fall to him. They have been very good tenants so far....
                28-03-2020, 21:02 PM
              Working...
              X