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  • HMO & Multi-Lets

    Bradley and Greenford - strange letters

    Has anyone had a letter or had dealings with this company? 

    I received a letter from them today offering long term rental contracts for HMOs but for the government - they apparently get a fee but the landlords gets all the rents paid directly from the government.

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    Hi Ali

    We've had a letter too. Our HMO's are in Aylesbury. Are yours there too? My thoughts are - where are the tenants coming from? They may be homeless, or on temporary housing list. They say it would be market rent, but I doubt it. What track record have they got?

    It's a new company, registered Feb 19.

    First glance they seem to be same as dozens of other chancers who've done a property course and been sold the HMO dream of making a fortune off the back of landlords with existing HMO's. I left my details for a call back 2 days ago - not heard anything yet.

    Guess you've realised by now I'm VERY sceptical, but will have the conversation to assess their credibility. My mantra - if it sounds too good to be true, it usually is! Still, would like to hear your and others thoughts.

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    I too received a letter today (I have a Salford HMO). I think they must’ve gone through HMO registers. Sounded a bit too good to be true.
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    me too, letter yesterday (Bristol). It is of no practical interest, we are quite happy running our own HMO business ourselves, but it is of curiosity interest as to what model this actually is. The letter does offer to send out a free intro pack.

    We don't generally get either bad voids or bad tenants, so this company claims to be a solution to a problem that we do not have - but if we did have those problems, then we might be more interested! The letter looks professional.

    From companies house web data, the company seems to have been incorporated by two young directors a few months ago. So my first questions would be whether this is some flavour of R2R, and what guarantees, experience, capital and other context would back this proposal and exactly how such a start-up comes with 'Government-backed contracts'.

    Brilliant new startups do happen, but one would need a lot more due dil here than if it were a decades long demonstrable track record and method
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    I had a quick look through their website which shows the standard contract they use.   I am not overly familiar with rent to rent contracts but having read through this briefly, you would be giving them power of attorney to exercise rights over your property, as well as potentially take on board quite substantial risks.  At the minimum i would have to employ a solicitor who specialises in this area, to carfully line by line review just what the agreement ties you into! 

    To my eyes is seems these deals are easy to get in to as a landlord, but very difficult to extricate yourself if things go wrong.

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    There is something highly suspicious about this imho.

    The address for the company is:
    20-22 Wenlock Road, 
    London
    N17GU

    The address looked familiar and then I remembered where I had seen it before - its the same address as Better Sourced Limited . Go and have a look who runs this company.

    These are serviced offices, so it might just be a coincidence.

    So to summarise - two young people looking like they are undertaking Rent to Rent, the address, the apparent link to certain individuals, the claims of being instructed by the Government.  This needs further clarification imho.

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    That address is a virtual office, used by at least a 1000 other companies and individuals too.
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    Interesting.  Their website hasn't been up-dated with that address.  It shows the company as being located in Bournemouth.

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    Here is their website - doesn't give much away other than they are looking for landlords and "investors".

    There is a paragraph about "having the Home Office as your tenant" which suggests asylum seekers to me.



    However, no mention of this company on the Government procurement list:

    The Home Office formally awarded contracts to the following providers:

    • Midlands and East of England: Serco
    • North East, Yorkshire and Humberside: Mears Group
    • North West: Serco
    • Northern Ireland: Mears Group
    • Scotland: Mears Group
    • South: Clearsprings Ready Homes
    • Wales: Clearsprings Ready Homes

    There is also reference to sourcing private finance although there is no "Capital at risk" notice that I could see:

    Here at the Bradley Greenford property group, our vision is to provide investors alike with exciting projects which yield both financial reward with charitable impact. We strive to take the risk out of investing, giving our investors a high and inevitable return on investment which enables future planning, whilst helping good causes.

    This video shows that this company does not know how to spell the word "tenant", which doesn't bode well imho:

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    Screenshot from conversation with Solicitor Giles Peaker on twitter ...


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    My advice is to stay well away. The only rent to rent people I would deal with are people living locally to your property, preferably in the same street, who can show you other properties they've successfully taken on in your area and who preferably have 2 or 3 of their own properties there too, as it shows they're serious and are committed.

    Those kind of people can be worth a lot to you, but not these (*Moderator note: Word removed*) , who know nothing about anything except how to screw you out of money.
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