Consider 'guaranteed rent' before selling up and support your local housing crisis
Updated: Aug 30
At Elliot Leigh, we have been working in partnership with local authorities across London and the Southeast for more than 20 years helping to house social tenants, and the stock levels are at the lowest they have ever been.
We understand that right now, landlords are frustrated by incoming legislation, and it is causing many to consider selling up. Obviously, some are being forced to sell as rising interest rates mean it is no longer financial viable. But for those landlords who are on the fence, and can afford to remain as a landlord (and would like to for the long-term capital appreciation) but do not have the time inclination to keep up with the every-changing rules and regulations, we would ask you to consider an alternative offering. Instead, consider leasing your properties to help your local community, in return for guaranteed rent and exceptional property care.
As a Guaranteed Rent Provider and Social Letting Agent, we have helped house more than 50,000 social housing tenants as well as providing young people leaving care with supported accommodation. Local authorities are in desperate need of more landlords to work with them, as arrears in the private rented sector increase and more people are facing homelessness.
By the end of March 2023, there were more than 100,000 households living in temporary accommodation, such as hotels and B&Bs - the highest figure since records began. As of August 24th, this figure has more than doubled, with new research published by homelessness charity Crisis, revealed that 250,000 households are living on the streets, friends’ sofas or B&Bs. At least one child in every London classroom (one in every 23 children) is considered homeless and living in temporary accommodation.
Across most London boroughs and Essex, there is a scarcity of available properties, made worse in the short term by rising interest rates and mortgage payment increases, leading to steep rent rises and landlords deciding to sell properties.
However, we’re calling on disheartened landlords to consider a move to the social market instead, to provide desperately needed accommodation within the local community, in return for guaranteed long-term rent and a fully managed property.
We fully understand as a landlord you may be anxious in regards to the incoming Renters’ Reform Bill, with changes such as new periodic tenancies (which removes financial security for landlords), plus the abolition of section 21. However, we believe that our alternative offering of guaranteed rent could reassure landlords and encourage more to remain in the market by mitigating many of the risks associated with the incoming legislation.
Landlords don’t have to worry about the financial impact of late payments, void periods or the costs associated with eviction processes. Our inhouse full management and maintenance team also ensure landlords do not have to worry about rectifying any tenant damage and we inspect properties regularly.
If you are a landlord with available properties, contact us to find out more about the benefits of guaranteed rent, not only as a way to have a hassle-free secure rental investment, but to help keep local people in the local community.