Leasing can be a fantastic alternative to private lettings. At Finefair Ltd we want to give all landlords and investors an insight into how it works as well as the benefits. That way you can make the right decision for what to do with your own assets. If you do decide to try private sector leasing in Richmond upon Thames, we can give you ongoing support. It will prioritise your interests.

A look at how schemes work

Many councils in the UK offer some form of private sector leasing. Sadly, a lot of landlords don’t know it is even an option for them. If they did, we expect many more would see the advantages and sign up.

The schemes are really interesting. What you do is let your property to the council rather than directly to the end tenant. It will be the local authority that pays you the rent money. They will find people to live in the property and handle everything else.

This can be a really good arrangement, both in terms of protecting your finances and reducing your workload. If you still need convincing, a look at the benefits will show why you should seriously consider the best private sector leasing in Richmond upon Thames.

Rent protection

A major risk for private landlords is they may have periods where tenants don’t pay or are late. It can cause a lot of trouble and extra work if they need to chase. There are no worries about that here. As we said, the council will be paying you the rent. They will then have the task of collecting what the actual tenants owe. So, with private leasing you get guaranteed rent every month.

Voids

A second massive concern for landlords is the money they lose when properties are empty. Sadly a void period can occur at any point between tenancies. It can also happen unexpectedly during a contract if tenants need to move.

Private sector leasing is excellent here. You won’t have to worry about tenancies or voids. The council will pay the rent regardless of occupancy status. It will be on them to keep properties occupied so they are not paying you for an empty building.

There is an added advantage here. Most councils in the UK have long waiting lists with people looking for homes. They can feature low income individuals and families, elderly people, care leavers, and more. They check them in advance and will place people in the right properties when they become available. So, in most cases properties will be inhabited quickly and won’t spend much time vacant.

Damages

Any time a property owner lets someone else use their property there is a risk of damage and neglect. As a private landlord the risks are higher and you need insurance and a security deposit as protection. With private leasing you have the big benefit that the council is on your side. They are responsible for property management and monitoring tenants. If the people they choose to live in the home cause issues, it will be up to them not you to resolve them.

Ask us about private sector leasing in Richmond upon Thames

Finefair Ltd has a long history with this kind of leasing. In fact, it is the core of what we do when it comes to guaranteed rent and property management. We have built relationships with councils all over London to give people access to these schemes. It can benefit all parties.

So, if you want more information about private sector leasing in Richmond upon Thames, speak to us. We can advise you and offer a professional recommendation. We appreciate all clients are unique, so we look case by case to make sure the schemes will be right for you.