Housing Associations / Financial

Rents for Landlords Wanting to Lease Out their Property.

Summary

Owners who lease out their properties will want to know what they can expect by way of rent.

The rent they get will depend on factors such as the geographical area, size, type and condition of the property. Figures offered to landlords will be regularly reviewed as market conditions change.

Once a rent has been agreed for a particular property it is guaranteed for the life of the lease except that it will be reviewed on every anniversary of the date of the lease and adjusted upwards only by reference to any percentage change in the Retail Price Index.
As an example at the current time approximately £500 per calendar month is paid for a three bedroom house in good condition in a reasonable area of Essex which is close to shops and other amenities.  

Further Information

As market conditions change owners who are considering leasing a property to a housing association for the first time should contact the association to see what rent can be offered for the property. This can be done by contacting the Registered Social Landlord who runs the Scheme in which they wish to participate.

The rent will be payable for the life of the lease whether or not the property is occupied. In addition much of the hassle of renting out property will be removed, as the housing association will manage the property on behalf of the owner. This service will be reflected in the amount of the rent payable.  

In most cases no extra fees will be payable for management and no agents fee either.  

Loans and grants may be available from the local authority to bring a property back into use or to improve a property. You should contact the local authority in which the property is situated for more information.

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