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As a landlord what would you do?

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  • As a landlord what would you do?

    Hi all,

    I need some advice from real life landlords as at the mo I am dealing with a lot of assumptions and speculation about where I am going wrong!

    Here goes……I work for a London homelessness charity that leases properties from landlord (guaranteed rent, full maintenance, the usual stuff!) and then assists homeless people to move in and restart their lives.

    My problem is that not a single landlord seem interested, it’s seems clear to me what the problem is - lower than market rents (quite a bit lower, although the rents are guaranteed) and non desirable tenants (although the landlord does not have to deal with them in any way as we manage the properties)

    I have been doing this job since Feb and I can’t find a single landlord that is interested, so I though I would post a message on here. I don’t want anyone to think this is me advertising my charity, I will not mention the charities name or give any details that gives away who we are, I just want thoughts and comments from real life landlords so I can improve what I am doing and I can get some homeless people housed.

    My questions are as landlords would you get involved in a scheme like this? Is it absurd to even consider than landlords would want to get involved in a project like this!? Is the main problem the tenants or the low rent?

    Thank you in advance!

  • #2
    Re: As a landlord what would you do?

    In my opinion, I think it is absurd to think provate landlords would want to get involved.
    Face facts, lower than market rents?
    Why would a landlord want to lose money on their investment?
    Non desirable tenants? All landlords would require references. Drink and drug histiores etc. Who would want all that added grief!

    Homelessness is a sad fact of life.
    But as a charity you would be better raising money for a hostle or halfway house rather than expecting discounted rental "donations".
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    • #3
      Re: As a landlord what would you do?

      We are an insurance broker and have arranged insurance for landlords that have properties like this. Although the last comment seems a little harsh, it is unfortunately true and probably how 99.99% of landlords will view this situation. To add to it, the insurance is more difficult to obtain and usually more expensive too. We try and help as much as we can when we know a charity is involved but even then we are stuck offering a more expensive product due to the situation.

      All this being said, there are a few landlords out there that are willing to help and take a monetary hit themselves to do so. I wish I could point you in the right direction of such landlords but I can't. I think you are probably doing the right thing in just getting your word out there.

      Good luck!
      UK Landlord Insurance Specialist

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      • #4
        Re: As a landlord what would you do?

        I own 20 buy to lets - for me it's all about risk and reward - risky tenants would mean higher rents.

        That said, if you covered all the issues from a monetary perspective and guaranteed the rents. I'm just wondering if the insurance could be compensated that may be the incentive needed.

        Guaranteed rents is quite a carrot but I think based upon the perceived (if not actual) risks involved then a larger carrot maybe required.

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        • #5
          Re: As a landlord what would you do?

          Try keeping a eye on properties being advertised in local papers, rightmove and zoopla and target the landlords if the properties appear to be tricky to find tenants

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          • #6
            Re: As a landlord what would you do?

            As a landlord i will be very strict because most of the people don't care the rent properties, they even don't pay the bills which is a very bad thing. I will keep an eye on all the activities related to my property.

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