Q&A Should I rent my prop­erty to a com­pany in­stead of an in­di­vid­ual?

The Wharf - - Property - DAWN SAN­DOVAL

QMy agent has just con­tacted me with an of­fer on my rental flat but from a com­pany not an in­di­vid­ual. It has a lot of de­mands in­clud­ing an op­tion to re­new for three years as well as not pay­ing a de­posit but in­stead pro­vid­ing a let­ter of guar­an­tee. It also wants to be in charge of rent in­creases. It’s a re­ally large cor­po­rate com­pany, but all the same I am feel­ing a lit­tle ap­pre­hen­sive about all these stip­u­la­tions. Should I get in­volved with this type of te­nancy?

ALet­ting to a com­pany de­spite all the de­mands at the out­set is of­ten an ex­tremely ben­e­fi­cial way of rent­ing your prop­erty.

These ar­range­ments usu­ally oc­cur when a large firm re­quires an in­di­vid­ual to re­lo­cate for their work and of­fer them an all ex­penses paid home as part of their pack­age. They gen­er­ally of­fer com­plete pro­tec­tion en­sur­ing the prop­erty meets ex­tremely high stan­dards and that all the fix­tures and fit­tings are tested and safe to use.

They will usu­ally re­quest added ex­tras that per­haps your usual ten­ant wouldn’t such as chang­ing locks and adding ex­tra fire safety pro­tec­tion such as ex­tin­guish­ers. In most cases they will also want to use their own rental con­tract too. It can seem a lit­tle daunt­ing.

The op­tion to re­new can be tricky as it means you are tied in for three years if the ten­ant wishes to con­tinue. The lack of de­posit re­placed by a let­ter of guar­an­tee can seem a bit flaky on the sur­face but ac­tu­ally is usu­ally sat­is­fac­tory. Once moved in they are gen­er­ally great ten­ants so I’d go for it af­ter con­sid­er­ing the terms.

Big com­pa­nies some­times rent out homes for their em­ploy­ees

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.