Why an HMO landlord want rent to rent or guaranteed rent? A landlord's view #R2Rshortandsweet #14

Why would a landlord use a rent to rent service?
We speak to one of our landlords about just this - find out her reasons here…

In this short and sweet video, I’m going to show you around a property that is being managed by a rent to renter and speak to Sarah, the landlord on why she uses the rent to rent service.

The property is in Southampton and is a great location right near the centre of town. It’s a really lovely house with beautiful light and fantastic sized rooms – it’s a five bed with 2 bathrooms.

It's been empty for two years, but it doesn't look as though it has. It also has an amazing kitchen and has a lovely little terraced garden outside.

Stephanie: So, Sarah why did you decide to rent to rent out this property?

Sarah: Well, it's a no brainer to me. I love property and I love buying property, but I'm not too fond of managing the properties.

As long as you can work with someone you completely trust to manage the property for you, then for me, I can buy the asset and then pass it to someone to take over the management.

I know I wouldn’t get the ‘whole of the pie’, but it will leave me with a part of ‘the pie’ and that's just fine with me considering I won't be doing very much.

Stephanie: Are you able to tell me the figures on this property?

Sarah: My mortgage on this property is around £500 and the guaranteed renters are paying me £1,500 a month.

So, considering I'm not going to be managing the property day to day or filling a property with tenants, it’s a really good deal.

I'm contributing £4,000 towards carpets and painting and giving them one month's rent holiday - so it's a good deal for everyone.

Stephanie: So really, you’re actually giving them £5,000 and they've got the potential to make good money?

Sarah: Yes, I see it as a win, win!

Stephanie: Thanks Sarah for sharing that with us.

I know some of you do wonder why landlords would choose to do rent to rent rather than make more money themselves, and I think Sarah's really explained that well.

If you have any further questions, please get in touch and I’d be happy to answer them for you.

All the best,

Stephanie & Nicky

xx

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