Finefair Ltd has been specialising in guaranteed rent for a very long time. Thanks to our years of service and relationships with local councils, we know many important facts about property leasing. For one thing, every client requires something different. In addition, keeping the property in order is essential to ensuring landlord and tenant satisfaction. Such an understanding has helped us to become the foremost establishment for private sector leasing Camden has.

What is a private sector leasing scheme?

A lot of people ask us this question, especially if they are trying to decide what to do with their properties. What we always tell them is the schemes can be a really good thing to consider as a landlord. Overall, they are not difficult to understand.

Everything begins when you let a property to the local council instead of directly to a tenant. Said authorities shall technically be the tenants but obviously they can’t live in the property. What they will do is use it in order to accommodate the homeless or those at risk of becoming so. Low-income, elderly, care leavers, and people with disabilities are all able to benefit from this program.

If you are a landlord you may be wondering why you would want to be part of such a scheme. You could just find your own tenants after all. The fact is that joining would entitle you to a series of top notch benefits.

Let your property for guaranteed income

One such benefit would be a consistent income. Whenever a landlord joins a scheme such as this, they gain guaranteed rent. The council you partner up with is going to pay you a set amount of money monthly. There should never be a reason for you to not receive a payment.

The big advantage here is you are not beholden to the tenants to pay you. They will actually be paying the council, and then it will generally only be a portion of the total. If they ever can’t pay, or pay late, it won’t have an impact on you. The council will take responsibility and your income will be consistent. Contact us if you need the best services for private sector leasing Camden has.

Low vacancy rates

Something else these schemes can offer you is low vacancy rates. Is your building staying empty during one, three, five, or even seven year contracts? Are tenants vacating the property early and leaving you with voids? Rather than spending time trying to arrange a new tenancy, you can receive a guaranteed income with the council scheme. It means you never need to worry about losses during voids ever again.

When you do agree to a scheme though, it is quite rare for your property to be vacant. Housing is always in demand, especially in London. High prices in the city can lead to more people asking the council for help. Many of the authorities have waiting lists of people ready to begin tenancies as quickly as possible. So, you will likely find your properties won’t ever be empty for long.

Damage protection

You can also receive protection in case of damages. Let’s say that some tenants have made a mess of the property, damaging doors and the kitchen. If you are a private landlord, you will have a security deposit but will need to chase the tenants to cover any repair costs that exceed it. It can be a lot of work and you may not succeed if they become unreachable.

You won’t have any concerns with a private sector leasing scheme because the council will be responsible for the damages the tenants cause. It protects your interests really effectively.

Hands-free letting

Using these schemes also comes with a more hands-off approach. In some cases your only requirement will be to make the building ready to live in. Sometimes you may need to provide furnishings. That could be the limit of your involvement. The council will attend to the property management, lettings, and everything else.

Let’s get started with private sector leasing in Camden

As you can see, joining schemes such as these can be incredibly beneficial for landlords. Dealing with tenants shall be a thing of the past. Most of the management work won’t be your concern anymore either.

The Finefair Ltd team can help you get started by offering the top services for private sector leasing Camden has. We can give you lots of useful information, including details of what the local council is looking for and what they offer. So, if you are interested in earning stable rent money whilst offering a helping hand to others, please let us know.