Anyone here also joined Wolverhampton Council's Private Sector Leasing scheme?

[jpkeates]

Councils have a duty to house people and can't make profit.
They have been forced to sell off their stock of houses and can't build or buy new ones.
So they rent in and re-rent.

Private guaranteed rent schemes are so obviously a rip off, I'm amazed people can keep a straight face selling them.
If I had a guaranteed money making scheme, the last thing I'd want to do is invite other people to share in it.
You'd have investors banging your door down to give you money to buy property, you wouldn't need to find landlords.

[harrysmith]

well put ... lets say then... lesser smoke and less opaque mirrors !

[JK0]

Sounds like the council are doing that anyway, doesn't it?

[harrysmith]

hi, not *our* profits.. the private letting agents motivation to maximize *their* profits out of us, I'd never give my house to a *private sector* letting agency, all smoke and mirrors

[Wannadonnadoodah]

purely motivated by profit

That's the reason I got into property. Can't imagine doing this and giving it to a company who doesn't want to make me a profit. Is this some sort of charity?

[harrysmith]

Your post looks like spam to me, but I'll give you the benefit of the doubt for now.

How is this crowd any better than a normal letting agent? What are their charges for this 'service'?

Hi,

No not spam...

The link I sent is "Wolverhampton Homes", which in really just Wolverhampton Council's arm length organization that was spun off to manage their council stock years ago

Most people think its a bad deal, download the pdf from the link and see, but personally I'm willing to sacrifice short/medium term profit for the long run and deal with an organization were the staff are not purely motivated by profit

My main issue is that I'm now getting a yearly statement of what was spent on the property by the councils own repair guys (when above my £500 yearly allowance), and its this breakdown which I want to discuss with other landlords who have already joined the scheme so I can compare mine with theirs?

Harry

[Wannadonnadoodah]

Agree with jta. Seems dubious someone would join just to post how great a scheme they've been in for 4 years is.

[jta]

Your post looks like spam to me, but I'll give you the benefit of the doubt for now.

How is this crowd any better than a normal letting agent? What are their charges for this 'service'?

[harrysmith]

Hello,

I have two properties with them, one almost 4 years, other one two years

http://www.wolverhamptonhomes.org.uk...sector-leasing

Overall I'm in it for thee long term ... 10 plus years.. which makes the economics worth while

I have yearly reports of "work done on the property" over my £500 allowance

Want to query couple of things, just wanted some feedback/discuss first with anyone else who has joined the scheme as well?

Thanks

Harry