renting via the council to DSS tenants with Mortgaged Property

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    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.

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      #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

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