London has plenty of fantastic property assets. This can attract all kinds of investors with different aims and targets. Finefair Ltd can offer a fantastic range of services to help. In fact, we are one of the best options for managing investment properties Hounslow has. We can also arrange guaranteed rent in the process.

London’s council homes

At one point in time London had a gigantic amount of council housing. In fact building it was a major goal post WWII to ensure there were enough homes for everyone and to replace much of the lost stock.

However, there was a big change with Right to Buy. It came into force as part of the 1980 Housing Act. The idea was to make it more affordable for people to purchase their own home. With the new rules, people could buy their council property at a price substantially below the market rate if they had been living in it for three years or more.

Since the introduction of Right to Buy more than 300,000 council homes in London have been sold. Sadly there has not been enough new builds in response to offset the sales. As a result there has been a steady drop in the amount of social housing. Unfortunately it means lots of households are on waiting lists because homes are not available for them.

Right to Buy Back

In response to the issue, Mayor of London Sadiq Khan launched a scheme to give councils the right to buy ex-council homes back. The goal here is to provide funding so that the housing can come back under council control rather than ending up on the private market where it can be inaccessible to many people.

The scheme began in July 2021. In the year since a total of £152m in funding has been made available. With it 14 London borough councils have been able to purchase 1,577 ex-council homes. Hounslow is leading the way here with 555 purchases. Newham had the second spot with 408 and Lewisham took third with 100.

All of these homes were subsequently available as affordable housing. Of the 1,577 properties, 908 went to new tenants at social rent levels, the cheapest rate available. Some of the homes also became available to house homeless households.

More building

The Mayor of London is also setting big targets to accelerate the creation of more social housing. There was an initial target to start 10,000 new council homes in 21/22. However, reports are suggesting that the building exceeds this number. There is also a plan to build a further 10,000 homes by 2024.

Ask us about looking after investment properties in Hounslow

At Finefair Ltd we can understand how rewarding it can be to put money into property. However, we also appreciate that some landlords can struggle. In fact, many small ones choose to sell because of recent changes in tax laws. Our services can provide a great alternative. With them you can get a stable income with no extra costs. You also have our full support.

So, if you want to explore what we do and how we arrange solutions for the investment properties Hounslow has, speak to us. You might find we offer the convenience and guarantees you are looking for.