London landlords with budget one-bed and studio flats are now being given the option to lease, thanks to a service offered by social enterprise, Real Lettings.
Historically, only Councils and Registered Social Landlords (RSLs) have offered landlords the chance to lease their properties. Both parties agree on a suitable contract period (3-5 years) then the landlord receives regular rent payments while their property is managed and maintained.
As the pressure on social housing in the capital has increased, Councils have started to focus attention on larger 2-3 bed properties. This has meant that many landlords with one-beds and studio flats have been unable to lease them out. Real Lettings plugs this gap, working with both landlords and councils to provide leasing and management for these landlords looking for a low involvement alternative.
Real Lettings was developed by homelessness charity, Broadway, to help single people who have experienced homelessness move out of supported housing. It combines their property management experience with a ready list of tenants.
The leasing service offers guaranteed rent, minimal voids and your property back in the same condition at the end of the contract. Management services are similar but require that maintenance costs be covered.
All tenants get resettlement training and are supported throughout the tenancy. And because Real Lettings is a social enterprise, all of its profits go back into improving the service for landlords and tenants.
Howard Sinclair, chief executive of Broadway said,
“We’ve been working in property management for over 25 years now. So we thought why not use this expertise to create a sustainable business, which also helps ease the growing pressure on social housing.
"Weve already housed 77 people through Real Lettings and both landlords and tenants have been pleased with the service they’ve received. Because we’re a social enterprise with a vested interest in making sure this works, all of our staff are willing to go the extra mile to make sure landlords and tenants are well looked after."
Metin Gurpinar, managing director of Astral Estates said,
"We’ve found Real Lettings service refreshing in that there’s always one point of contact who is genuinely concerned about resolving any issues that might arise from time to time.
"We were very impressed with the speed in which they managed to turn things around. Rent is paid monthly without fuss and the tenants they’ve provided seem to really care about their surroundings. Real Lettings vetting process certainly takes the headache out of renting to tenants on housing benefit - the ones we’ve seen have been decent and of a very high calibre," he added.
This publication is a subscription only product. Dissemination by electronic, copy, fax or any other means is strictly prohibited. Usage is monitored.
