Advantages of Private Sector Leasing Schemes For Social Housing
Today so many landlords are afraid their working tenants have lost their jobs and can not pay their rents. However there is an alternative however there is nothing perfect. In Edinborough there is a social housing scheme that helps both landlords and those that have been effected by Covid 19 & many other social issues. The Private Sector Leasing (PSL) scheme, delivered by Link Group Ltd, landlords can lease their properties to the City of Edinburgh Council for up to five years with guaranteed rent, even if the property is empty through no fault of their own. Link is also looking to purchase empty homes from landlords or property owners, including those which have until now been used as short-term lets. We have been involved in Social housing since 1994 and have found it both profitable and a great way to help those who are unfortunate. The big negative is that the majority of lenders do not like these type of arrangements and the durations of the leases. The leases we have are between 5 to 10 years with what has been automatic renewals. With that said been extremely challenging to find lenders.
With the Private leasing schemes for social housing, there is more demand than supply. You have the Govt as your tenant basically. The programs we have been providing we have no managment, no maintenance and no voids. Just a monthly BACS check.
Below is an example of a group in Edinborough and if you are a landlord with voids this might be an option to explore. I have no affilation with them and I work in the NW and NE. Can not give a personal opinion on them. However the companies I deal with are very professional and I appreciate the oppurtunity they have given me and my colleagues.