I was just wondering with all the latest rehousing of the illegal immigrants who are in hotels and the government taking on the task of moving them into normal residential properties to drive the costs down to us tax payers , do you feel that Serco are getting very choosy and becoming picky on what they want to take on with the rents being less than what you expected only to be told that they are taking on your property for 5 years looking after it and having no voids ,particularly using this as a negotiating tactic against you when negotiating the rent with them.
What are the experiences of the landlords who use Serco finding are they reliable providers ? or do we continue the way we are and do everything on an individual let and not keep all our apples in one basket
I am not into this situation. But I would not put all my eggs in one basket . I would not go into rent to rent. I once had a guy who rented a shop from me . his employee was in a flat and this guy wanted to rent another flat from me . I said no. That would have been 3 places reliant on him as it were. Also I would not rent to an illegal immigrant
And you would do well not to as they wouldn’t have right to rent. For clarity, there are no illegal immigrants in hotels as you cannot illegally claim asylum. If you’d like to learn more about why this is the case, I’d be happy to discuss this via private messaging. I work in this sector so I know what’s what.
Asylum seekers are unable to rent in the PRS so housing them via Serco isn’t rent to rent, it’s housing those who cannot house themselves until such a time as they can or are removed because their claim is unsuccessful.
I rent both to refugees in the PRS and to asylum seekers via a lease to a housing charity. Both are successful lets. From the rhetoric you employ Rashid, I’d say you’re probably not going to enjoy housing asylum seekers through Serco.
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All rent to rent operators, whether its Serco, a Council, a social housing provider or a private company will offer below market rent as they are taking on the management costs and will want to drive down prices. I would not get involved in any rent to rent contract unless it was a last resort.
There’s a Facebook page Landlords UK
which suggests you need to read Serco’s T&C very carefully. Unless you are the freeholder you may not have the ability to meet the external decoration terms for example.
Personally I wouldn’t want to have an obligation to replace floors and fully redecorate in year 4 and every 3 years thereafter and new kitchen, new bathroom, windows every 6 years. Suggests tenants are assumed to trash the place and it would be a lot of hassle as well as being costly. Unless you have somewhere that is very difficult to rent I can’t see how such extra costs can be worth it in order to avoid having void periods. If I’m taking a risk by letting someone else manage the property and choose the tenants I want at least to know I can easily end the arrangement and know they will choose good tenants and maintain the place well. This sounds like the opposite.
I’d be doubtful Serco would maintain the property well or do repairs to a good quality- their incentive is to do everything as cheaply as possible.
Good luck
Yes, of course but it’s quid pro quo. We’ve swapped a PRS rental that was BMV at £450 vs £525 (long-term tenant who was the best we’ve ever had and kept the place immaculate in a really rough area) for a property we have to do absolutely nothing to manage except pay a couple of hundred quid insurance a year at £490 pcm guaranteed over five years so still BMV but for absolutely no work at all. I’ve literally renewed insurance once and answered one email in 18 months. It’s bliss!
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