What can I do if my R2R in London was mis-sold?

It seems the sourcer has relied on an ‘estimated’ occupancy rate to that of reality, which is unfortunate.

You could look to pursue the sourcing agent for misrepresenting the information, but I would look at the agreement you have with the sourcing agent, and I’d be surprised if there’s anything in there that guarantees any level of occupancy or income.

See it as a letting agent, they could give advice on a properties value or rental estimate, but their advice have no guarantees.

In terms of challenging the marketing, if they’re doing all they can (within their experience and remit) to market and there isn’t much interest, then it might just be the market is limited for the property in the area.

Perhaps look at what competitors are doing, or speak with other management companies (Houst, Pillows etc) and see what they are seeing in terms of success in the local area. If they’re seeing more demand than you are, I’d consider switching agent.

You can join the rest of us in advising other landlords NEVER to get involved in rent to rent.

Rent2Rent was the key to untold riches I was told on the course i attended.
Reading this now I’m not so sure

Another wannabe chancer guru selling lies

Look at what the marketing is. You can’t just rely on Airbnb and booking.com platforms. Are the prices reasonable? Keep the faith because if you’re in a student town then in September a lot of students (local and international) travel to study so get on with the local student union … see where you can advertise. The problem with a lot of these r2r people… they lie, they’ve never ran a business, they tell you it’s easy… and it’s not. Some places are seasonal. So maybe 14% plus can be achieved in the summer… but miss that boat and it’s a cold winter. Warning for anyone looking at any “opportunity” presented to you … ask for their source… where their figures came from?

Reply to the comment left by Sally Jenkins at 17/08/2024 – 09:14
Running expensive courses on rent to rent and deal sourcing for suckers is the ‘key to untold riches’