Letting to Housing Trust- cautionary note!

[davidnoble]

Some of you may be considering letting to a LA or housing trust

Some of you may already have endured similar experiences

I wanted to outline to those considering such a move my experiences

14 months ago in the teeth of the recession i opted for a 3 year deal with a notting hill housing trust

The drawing up of contracts seemed a haphazard affair
I am an FSA officer and try always to explore anything vague within a contract

Sadly any assurances I have received have not been founded in fact-or- in writing
My desperation to let has been costly

From bitter experience it now seems to me that tenancies are granted to the most dysfunctional of society

Of course we all have our rights and expectations............but... it seemed to me that such people needed social skill training and constant supervision

This became even more apparent when my properties rapidly began to deteriorate

I have endured a steady stream of demands from
Police
LA authorities
All wishing to "sanction" the housing trusts tenant

When I call to inspect properties I have -on occasion- needed to take the police with me!

Bringing this up repeatedly with the relevant trust housing officer fails to bring any action; "we have tenants much worse than this"!



Ultimately with the change in HB I have opted to take back my flats

On 9th April I carried out an inspection of a recent handover

The flat had been completely wrecked!

What was not ruined was stolen-everything from bedding to microwaves

The housing trusts only comment; "under a three year agreement this is defined as normal wear and tear"-the fact that we are only 13 months into 3 year contract makes little difference it seems!

It seems i must sue if i expect any redress

Nor can I expect the return of my keys (so no remedial work is possible!) until I sign a "handover document" accepting all responsibility from henceforward
So the 28 day notice given will soon be lost as any opportunity to find a new tenant

Of course some of you may have different experiences-so far!

What you have to consider

A new furniture pack (upon vacation of a LA/HT tenant) is likely to cost you £3-5 k
The redecoration at least another £2k
If like me you have tried to maintain a rapport with other tenants- surrounding your property- you will also have to develop nerves of steel!
As a constant stream of complaints comes in

Ask yourself
Is the certainty of 3 years rent (at reducing rates over 2011-15)

Worth the financial and emotional distress???

I leave it with you

kind regards

Dr David Noble

[Interlaken]

Oh well you gave it a try - put it down to experience. Do a private let next time or maybe being a landlord is not for you?

[Scrungy]

Why risk it anymore?

Let there be not a sliver of doubt in anyone's mind who is considering renting to the publicly funded tenant as to what they should prepare themselves for.

Since there is no longer a premium for letting to the above class of tenants (to compensate for the high likelihood of destruction of property, etc.), the attraction of the "guaranteed rent" seems less and less attractive.
The attitude of the housing authority is also deplorable, offensive and outrageous but is quite commonplace now.

When you also factor in the risk of not also getting your rent paid (there is documented battles between so called "Housing Authorities" and their respective councils over rent payments), renting to the public sector is a very high risk strategy seemingly only for those with zero/low overheads/costs, deep pockets and basic/spartan/middle-of-nowhere properties.
Even so, why would anyone willingly put themselves and their investment at risk of such an experience?

Without doubt, society needs to find proper resources and places for such destructively-minded & anti-social people but they should never be placed in a normal residential environment, IMHO.