Property let to London Housing Trust

by Readers Question

6:22 AM, 16th May 2015
About 4 years ago

Property let to London Housing Trust

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Property let to London Housing Trust

First of all many thanks for providing support, I have now finally got the possession order for my flat. It will be emptied in next few weeks.

For new tenant, my current agent is advising me to let flat to London Housing Trust housing adult vulnerable people. Apparently they give rent above the market rate. My flat is 3 room flat and apparently they can house more than one person in the flat. I am not sure whether I need to consider the HMO licence? Are there any risk letting property to this trust.

Appreciate your help.

Thanks

Newbie



Comments

Rob Crawford

7:41 AM, 18th May 2015
About 4 years ago

I have explored letting under these arrangements before. I would be very surprised if they do offer a return of rent above market rate. They are normally below the market rate but offset this by offering "no voids". It is likely that they will be letting under a lease and not an AST, you need to understand the legal implications of this. You need to sight and understand the trust's terms and conditions with the landlord and their tenancy agreement (the trust will be the tenant who will sublet to an occupant). So you need to understand how the relationships and responsibilities work between landlord/trust and occupant. You my also be required to furnish the property to a higher level (including knives & forks etc) than may otherwise be required. This sounds like an easy solution for your agent rather than a good business proposition for yourself.

Badger

16:32 PM, 18th May 2015
About 4 years ago

I also have looked into these kinds of arrangements in the past as well.

Conclusion: they are not worth it.

As Rob says and I concur - I have yet to find one that lives up to the promise regarding the returns you can expect. Quite the contrary in fact.


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