February 7, 2023
Housing Associations Renting from Private Landlords
For private landlords looking for alternative ways to rent their properties, and who are keen to avoid the everyday headaches of unpaid rent, void periods and management fees, a guaranteed rent scheme can be an option.
Instead of renting properties to private tenants, these schemes involve entering into an agreement with a local authority or housing association, letting the property to social tenants but without any need to get involved in its day to day running. Read on to learn how this concept works, and which housing associations rent from private landlords or local authorities get involved in the scheme.
A number of local authorities have signed up to the Housing Association Leasing Scheme (HALS) which allows landlords to lease their properties via a housing association.
The scheme can offer full management of the property, guaranteed rent and usually a three to five year lease.
Local authorities work in partnership with select housing associations. In terms of which housing associations rent from private landlords in this way, the likes of Notting Hill Genesis are signed up to the programme. This long established London housing association manages 4,000 properties on behalf of private landlords, which are always in high demand.
But you don’t have to rent through a housing association to enjoy the benefits of a guaranteed rent scheme, as you can also work directly with the local authority, or via a specialist letting agent that has established relationships with housing departments and will take care of all the arrangements for you.
Are there alternatives to letting through a housing association?
Letting directly through local authorities or housing associations that rent from private landlords offers various benefits, such as covering any rent arrears or costs for breaches of tenancy and dealing with liability arrangements on utility bills and council tax to ensure landlords are never out of pocket.
Some will provide a repair service for tenants, and will return the property with vacant possession at the end of the agreement. In some cases you will also find the likes of inventories and tenancy agreements included.
However, letting to local authority or housing association tenants via a specialist letting agent can sometimes offer even more value.
For example, as well as covering repairs and maintenance, some will also cover their costs too. In addition to an inventory and check-in, you may also get regular interim inspections to ensure the property is being taken care of in line with the tenancy agreement.
And as well as returning the property with vacant possession, they may offer a guarantee whereby they will pay to revert the property to its pre-let condition, so that you don’t have to cover the costs of doing so yourself.
Council and housing association guaranteed rent from City Borough Housing
Here at City Borough Housing, we offer a guaranteed rent scheme to landlords in London and parts of Kent and Surrey. Our scheme is backed by an exclusive service promise and fully comprehensive professional property management.
Included in the agreement are property management, everyday repairs and maintenance, quarterly property inspections and a promise that your property will be returned to you in its pre-let condition at the end of the agreement, allowing for fair wear and tear. And you won’t pay a penny for any of this. In addition, you will enjoy guaranteed rent, paid by standing order every month, including during void periods.
To discover more about how our guaranteed rent scheme could benefit you as a landlord, you are welcome to get in touch with our helpful team. Why not request your free rental valuation today?