Q&A: How does Guildhall Lettings Agency work? Why is it good news for shunned tenants?
What are the key objectives of Guildhall Residential Lettings?-To improve standards in the private rented sector.- Bringing hundreds of empty homes into use.- Improving access to the private rented sector- Preventing homelessness- Reducing expenditure on temporary accommodation.
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Hide AdWho are the tenants likely to considered for a home?- People in priority need who are homeless or at risk of becoming homeless through no fault of their own.- People who are in need of sub-market rented housing and have enough income to meet the rent in full.
Why is this a good idea for landlords?- They can seek security in knowing that their property will be rented out for three, five or seven years.- The owner recieves 76 per cent of the market rent.- The property will be handed back in good condition.- There will be an interest-free loan to fund essential repairs.
What would the landlords’ fees and charges be?- A one-off set up cost of £500 (covering inventory, inspection and administration).- A management fee of 12 per cent of monthly rent (more if rent guaranteed). - Tenant-finder service (for 50 per cent of first month’s rent).