All you need to know about the Northampton borough Council scheme, which starts in February.
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
Who 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).