Buy to let investors con siding quitting the sector because of government red tape, higher taxes and the threat of the Renters’ Reform Bill have been thrown a possible lifeline.
Derventio Housing Trust currently provides over 600 single bed spaces in Derbyshire, Nottinghamshire, Staffordshire, Warwickshire and Wiltshire, for people who have recently been homeless.
It says that with fears that the government’s reforms may provoke thousands of landlords to sell, the trust wants owners to consider a move to the social market instead.
Annabel Flint, procurement manager at Derventio Housing Trust, says many impacts of the bill on private rental landlords do not apply in the social housing sector so it is a less risky option.
She comments: “News of the Renters’ Reform Bill has been met with some trepidation by landlords. Our message is, while we fully support the private rental market and the need for affordable housing in the private sector, for any of those landlords who are considering selling up, the Derventio property leasing scheme may be an attractive alternative option. As a registered social landlord, Derventio Housing Trust is exempt from needing Section 21 notices, ASTs or even minimum EPC ratings, so those elements which may be making private rental landlords feel nervous would no longer be a concern.”
Derventio Housing Trust offers a leasing scheme for landlords that guarantees rent for the whole term of the lease, with no voids, no court costs or evictions to worry about, no tenant damage to rectify, no fees, weekly inspections and an excellent property management service. The trust also deals with any challenging tenant behaviour with landlords saying this makes it a pleasantly ‘hands-off’ experience for them.
Flint adds: “We offer a great scheme for potential landlords, with three years of guaranteed rent and no voids, plus the option to extend the lease after that. There are no letting, property management or inventory fees – that’s all free. We take care of the utility bills and council tax, and we’ll also inspect properties weekly, garden in the summer, decorate when needed and clean any communal areas all year round at no cost to the landlord.
“Through leasing with us, we think landlords will have more security and potentially avoid any turbulence in the private rental market.
“So I’d like to encourage any landlords with available properties to please give us a call to discuss the benefits of leasing with us. Not only can we offer you rent security and hassle-free property management, but also the benefit of knowing you are providing a home for someone greatly in need of one.
“Soaring cost of living costs, and the aftermath of Covid, have had a serious effect on many people who after falling behind on their rent have found themselves without their home. Anyone’s life can take a turn for the worse and we are here to try and provide homes when people need them. To do that, we would love to hear from any landlords who feel they’d like to lease their properties through us. Demand for our services is only growing and the more properties we have available, the more people we can help.”