Are you Frustrated with Tenants? If so, Consider Long Lease Lettings
Being a landlord is not an easy occupation, there are numerous problems that may crop up and which may cause frustration. If you are able to relate to any of the situations below, then you may want to consider how a long lease letting company might be able to help you.
* Late rent payments from tenants;
* Dealing with tenants who are in arrears;
* Struggling to find tenants or having problems keeping them;
* Being called out for maintenance at any time;
* Paying out for maintenance costs;
* Paying fees to a letting agent who does not lift a finger to help you
A letting agent and a company offering a long lease lettings scheme are two different things. A company offering a long lease letting scheme will maintain your property, and pay you guaranteed rent, and you are not charged for this. This is down to them paying you around 80% of the value of your property and the reduction pays towards maintenance costs. Any rental money you are paid each month does not have deductions taken from it so every penny is yours.
The main reason why long lease letting schemes work is in the name, long lease, as the company works with tenants who want to rent over the long term. This of course ensures that there are no void periods as tenants feel secure in their home. When tenants feel secure, they tend to look after the property and so maintenance costs are kept down. Many tenants who take long leases also choose the option of being able to buy the property in the future, which also ensures that they take care of the property whilst renting.
When taking the service of a long lease letting company the company takes over the hassle of finding tenants so you do not have the hassle, or the worry. Often, finding tenants who wish to rent long term is one of the hardest jobs for landlords. Collecting rent is often another problem and this too is overcome if you use a long lease lettings agency. In fact you never have the worry of having to contact tenants again as your leasing company does all this on your behalf. All paperwork regarding legal matters is taken care of by solicitors on your behalf and is legal and above board.
If you are interested in long lease letting schemes you are able to apply online where you and the company work out an agreement for a sum of guaranteed rent and the term of the tenancy agreement. Typically, around 70% to 80% of the market rent. Due to the fact of you not having to pay fees or any overheads you still obtain net rent that is typically higher than if you receive the full market rent. If both parties are happy to go ahead the company will take over finding long term tenants for you, these are typically tenants who wish to purchase the property at some point in the future. Tenants who usually wish to bear will of course take more care of the property during the rental period, which means fewer layouts for damages and repairs, which lessen maintenance needs.
About the Author
Oliver J Darraugh is a specialist in real estate. He runs a site advising those looking for a Guaranteed Home Sales solution. http://www.longleaselettings.co.uk/
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