Should I rent to Serco for 7 years?

Should I rent to Serco for 7 years?

0:02 AM, 15th February 2024, About 3 months ago 33

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Hello, in a last-ditch attempt to remain in property rental, I have discussed a 7-year lease with Serco to house asylum seekers. My property is on the market as I will not accept the abolition of section 21, tenant’s free legal advice, and Labour’s plans to sneak in tenancy for life, etc.

They have offered me a very competitive rent, free repairs, guaranteed rent, etc. I have had a horrendous year trying to evict, scraping dog mess and blood from my properties, and preparing for court action over damage all caused by people and this experience along with the Renters Reform Bill have made me simply want to walk away.

So my question to your readers is, has anyone gone down this route?? If so what have been your experiences, please?



Editors Note: You can check out an article on a readers experience with Serco here

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Cider Drinker

9:03 AM, 15th February 2024, About 3 months ago

Definitely wouldn’t be for me for a number of reasons.

If the Renters (Reform) Bill causes you sufficient angst, I’d proceed with the sale of the property.


9:43 AM, 15th February 2024, About 3 months ago

Can you trust Serco?
How can you hold them to their word?
What if you need flexibility, if the law were to change or you needed money?

Mike Thornton

9:47 AM, 15th February 2024, About 3 months ago

Does Serco provide annual rent rises? If not, after 7 years rent will likely be well below market rent.


9:51 AM, 15th February 2024, About 3 months ago

No way would I want to lose control over my property, certainly not for that long. Who knows what legal changes will take place during that time. Like you, the probable loss of S21 has put me off and I'm thinking about holiday lettings and other investments now.

Patrick Sullivan

9:52 AM, 15th February 2024, About 3 months ago

Absolutely NO. We have a few with them. Complete shower. When they return the property it’s a proper battle with them. They simply don’t care.


9:58 AM, 15th February 2024, About 3 months ago

Hi, I'm not currently a landlord.

If you want to keep your property - for whatever reason - then seriously consider the offer.

They are offering a contract, over a longer period and on better terms than individual investors?

As regards "control" - what level of control do you have over when a tenant is unable/unwilling to pay rent?

Lastly, there seems no imminent reduction of numbers of new "asylum seekers" so this may be something other landlords will have/want to consider going forward?

Good luck.


10:03 AM, 15th February 2024, About 3 months ago

My advice. Stay away from Serco at all costs.
Suggest you sell up.

Peter Rees

10:15 AM, 15th February 2024, About 3 months ago

Reply to the comment left by Patrick Sullivan at 15/02/2024 - 09:52
Hi Patrick, interesting feedback on Serco. I was considering going down this route with some 6 bed HMOs we have. How long were your leases for and what % return did you get? I'm not too bothered about the state of the property when handed back(only cosmetic damage), IF the lease is 5 years + and the return is good. I'd be greatful for your insight. Many thanks, Peter Rees.


10:18 AM, 15th February 2024, About 3 months ago

Please check your Ts&Cs of the mortgage lenders. Most of them do not allow more than 3 years. I do not have experience in letting to Serco. All depends on which area your property is for letting!

Judith Wordsworth

10:31 AM, 15th February 2024, About 3 months ago

Read their lease terms very very very carefully.

If you don't like something then go about revising them/deleting them, inserting your own.

The bit where they say the property will be returned in the same condition as when they took it on usually = slosh emulsion over the mould caused by their sub-tenants lifestyle - they usually forget to paint behind radiators! It cost me +£10k to knock back to the brickwork and redecorate; renew all floorboards, kitchen units etc etc.

Neither you nor Serco can say how their subtenants use the property - as a breach of their human rights I was told. BUT using a primus stove in the middle of the lounge carpet to cook is just not acceptable imho. Though at the end of the 3 years the oven was pristine! Opening windows was also a no-no.

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