Aren’t you ripping off landlords who’d get more rent without you?
Hello, hello, hello and welcome aboard episode 45 of The Rent to Rent Success Podcast.
Today we’re talking about ripping landlords off.
There are so many myths about rent to rent that I wanted to do this series busting the most common rent to rent myths I hear.
If you’re just joining us, go back to episode 1 as the episodes do build on each other to give you the full view of rent to rent success.
Before I start today I want to thank you for all your reviews on apple and Spotify.
And I want to thank Luke W on his review:
“Awesome Podcast! Listening to you everyday!
This podcast is definitely worth a 5 star rating ! I’ve been listening to a few different property podcasts over the past 2/3 months, and they are all really good but this one stands out the most for me due to how easy it is to listen to, and take in what Stephanie is saying. I’ve learnt so much, the content on the podcast is so good, I think I’ve nearly listened to all the episodes! Thank you so much for sharing your valuable knowledge!”
Thank you Luke W.
It means the world to us to know you’re finding it so helpful.
If you enjoy the podcast please do subscribe and review, it really does make a difference and it helps others find us too.
OK let’s get on to this…
It’s sometimes said that rent to rent rips landlords off.
And I want to set the record straight.
The reason we make money doing rent to rent is because we add value.
We don’t take it away.
We take a property that’s underperforming and make it more valuable and in doing that the landlord earns and so do we.
I give a full example of this in episode 42
In that episode I talked about an 8-bed property we took on.
Often we are able to pay landlords more than they were receiving before in net rent.
By net rent I mean the rent a landlord receives after the cost of council tax, gas, electricity, water, wifi, minor maintenance, cleaning, gardening and voids (times when rooms are empty have a cost too).
Most landlords know what the gross rent received from the tenant is but are unsure what their net income is.
When we take on a property we pay these costs.
Working with us, can actually provide landlords more income than they were receiving when their property was managed by a high street letting agent simply because we’re able to manage HMOs more diligently and are HMO specialists while a typical letting agent will manage hundreds of properties and be specialists in single lets not HMOs.
Ironically, many landlords we work with have been badly let down by traditional letting agents.
For example, Robbie, whose two HMOs were managed by letting agents for over 12 years and descended into a state of terrible disrepair before he found us.
You can see some photos of the property before and after here https://www.hmoheaven.co.uk/blog/landlord-stories-one-newport-hmo-landlords-experience
Before we started managing the property, Robbie was losing money with a traditional high street letting agent.
Since then, he’s received guaranteed rent every single month, right through lockdown.
And it’s not just in extreme cases we can help.
We work with professional property investors too.
They want clarity on what rent they’ll receive every month, especially if they’re remote investors.
For them, rent to rent is a perfect solution.
We adopt an ethical approach.
The Rent 2 Rent Success System creates a win-win-win.
A win for the property owner:
Guaranteed rent
Freedom from tenant management
Total peace of mind
A win for your housemates:
Beautiful, affordable homes they love to live in
And a win for you!
The consistent cashflow you need to live life on your terms.
If you’d like to find out more about rent to rent and see if it’s right for you sign up for our
Free Rent 2 Rent Success Guide and Masterclass
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Until next time, have a great rest of the week.
And remember,
Believe Bigger, Be Bolder and Be a Gamechanger!
See you soon!
Stephanie & Nicky
xx
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