Working Tenants Who Don’t Pay and Social Tenants the Govt Pays
Most landlords today know that probably more than 20% of their tenants are not paying their rent. This causes a tremendous amount of anxiety and effects landlords ability to pay their mortgages. Social tenants on the other hand the Govt pays their rent. Good times…bad times does not matter. The rent gets paid. If a working tenant gets furloughed what happens to the rent? In many cases simply not paid.
For overseas investors this makes the situation worse. Adding in the fact that all too many estate agents do not manage properties correctly.
Read below from an email from a Hong Kong investor who has purchased from us going on 3 properties.
Thank you for your trust. Yes I am interested. In fact, I have been sharing my experience of investing in social housing with friends in Hong Kong. As some of them are planning to move to the UK in the near future, a source of regular income in sterling would be attractive. As far as I know, property investors from HK are mainly involved in buy-to-rent properties, in particular Manchester and Liverpool areas. However, their experiences were quite painful (either non payment of rent or poor management). And I am quite happy with my choice of social housing so far.
Please keep me updated when new properties are available and I will share it within my circle. Thank you.