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  • New Members

    Rent to Rent in the North of England

    I am a new member but I have been watching your Youtube videos for a while which has made me want to sign up.

    I am looking to purchase some basic terraced family type properties in the north of England (Yorkshire/Lincolnshire) but initially wanted them on a 2 to 3 year lease with a reputable company who will do everything to start with on a guaranteed basis.

    Do you have any other recommendations other than Northwood I can talk to who may be interesting in this? I am also open to speak to housing associations that may also look to take them on too

    Look forward to hearing from you!

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    Sorry but i’ve never heard good endings to long leases to management companies or Housing Associations. 

    It sounds like your plan is to rent to social tenants. Do you appreciate the risks involved in this? you may get guarantees about the property being returned in the same condition but those I’ve known do this find it gets wriggled out of either by the landlord looking for the easy option so they use the check in services of the client and therefore have no evidence themselves of previous condition or some clause in the contract resulting in them having no claim for damages. The rent offered is also significantly below market rent to reflect their management costs and voids. 

    My recommendation would be to learn the ropes by buying a property near you and managing it yourself before trusting it to someone else. I work full time, travel with work, and still manage to look after a number of properties. There are courses run by the landlord associations plus much to read here. Remember that whoever you hand the property over to you still have responsibility and if the agent, association or lessor mess up that is no excuse and you could be liable for any failing. 

    I bought my properties ten years ago at the bottom of the market with no stamp duty premium and before s.24. I wouldn’t be investing now with with the above issues and the uncertain possibilities of labour wanting to pass on rights to buy from the PRS, replacement of council tax with a tax payable by the owner and more so do make sure your sums leave large margins to slow for policy changes.
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