Letting to a housing association – Good idea?

by Readers Question

4 years ago

Letting to a housing association – Good idea?

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Letting to a housing association – Good idea?

Letting to a housing associationJust wondering if it is worth renting my property to a local housing association?

My initial thoughts are that it could be a lot less bother in terms of management plus assured rent.

I’d like to know whether you think it is worth it?

My property is in the East London area and rental market is very good here, so going to association would mean some reduced income, which is OK as I have other job and want some easy life.

I would like to hear from the experts about the pros and cons.

Thanks

Ibnul Haque

Comments

philip allen

4 years ago

Hi Ibnul,

Half my portfolio is with Housing Associations in London. They are DEFINITELY better than the open market. In my experience I have better than market rent, no fees no commissions, no voids and no hassle with tenants. In London they just can't get enough properties so you will never need to worry about voids. It's so 'hands off' that I get to live in a very warm country on the other side of the world.

Good luck,

Philip

Mark Alexander

4 years ago

Hi Philip

I have to ask, if it's that good, why is only half of your portfolio let on that basis?

philip allen

4 years ago

Hi Mark,

Because only half of my portfolio is in London. Housing associations are totally different in the rest of the country so are not much use. My opinion only but I have done exhaustive research in other areas where I have properties.

Hope that helps to explain. If I could I would have all of them let this way.

Mark Alexander

4 years ago

Thanks for explaining Philip

Scarlet Lewis

4 years ago

Reply to the comment left by "philip allen" at "29/06/2013 - 15:33":

Hi Philip, this is something I would be interested in for my property in East London as I have had a less than positive experience with private tenants and a private lettings agency. Can you recommend a couple of good housing associations you have experience working with? Thanks Scarlet

Mark Alexander

4 years ago

Reply to the comment left by "Scarlet Lewis" at "06/09/2013 - 14:49":

Comment posted at the request of an email from Philip Allen

"Hi Mark, I left a longish reply and submitted but didn't know I had to fill in my details. It all got deleted and I'm rather busy to redo. Please tell Scarlet they're GOOD! That is; Shepherds Bush Housing Group, Genesis and London Strategic, all of whom operate within the M25.
Kind regards,
Philip"

David Sweeney

4 years ago

The following link was written with an eye to 'guaranteed rent' schemes pushed by agencies, but applies equally here if you substitute the word 'company' for 'association'.
http://www.property118.com/guarantee-for-natural-void-periods/42491/#comment-26302

Ibnul sounds as if he may only have the one property - an 'accidental landlord' perhaps? If he is at all attached to the property, this may be a bad idea as he will have next to no control over it..

Vanessa Warwick

4 years ago

With MX on the rampage, its probably a good idea to remind people to check the T & C's of your mortgage conditions before sub-letting a property, as it can be a breach of them.

It can also invalidate your insurance.

Make sure you get a bullet proof inventory of your property at the time of hand over, with an agreement that it is returned to you at the end of the contract, in the same condition.

For what it is worth, I have several flats in East London, E17, E14, etc. and I let them out to private tenants through Ewemove with no problems at all. (Touch wood).

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