Baby boomer,
@galway_blow_in has posted good information before on this scheme though not specifically on the point raised by the OP. See these threads:
Key Post - How risky is property investment?
It's interesting to see the arc of this thread over 16 years. Back in the early 2000s investors were basically accepting poor yields in the expectation of capital appreciation. This worked for some, but only if your timing was perfect. Now, it is quite different. No one builds capital...www.askaboutmoney.com
Post 33 and after
Lease to Council
Hi All, Just wondering if anyone has had any experience with the below? It seems attractive to anyone wanting to retain a property for the future but doesn't want the day to day hassle of dealing with tenants (albeit on a reduced rent basis). Any thoughts...askaboutmoney.com
While Nobody has answered the question I have asked let me add experience to date.
On the scheme for past four years. All good paid on time every month. No dealings at all with the property. Just phoned up council regarding rent review after two years and no problems there.
Anyone considering the scheme please note in my case I was liable for any repairs etc for the first six months of my eight year lease.
Hi Laststop,When you entered into the scheme, was there much negotiation over the rent figure? did they give a figure and it was take it or leave it? Did you rent a house or apt to them? How rigorous was their inspection of the property and finally how long was the process to get signed up ? Thanks.
As far as I can remember at the time they had a list of sparks that they approved. You choose and arrange inspection etc. The sparks then sends report directly to Council.Hi KNO, My mum is thinking about this scheme I’ll do the negotiations for her. So I’m just wondering if you could use your own Electriian or an up to date cert inspection that the electrics were up to code or do they insist on their own inspection? Thanks in advance
Where did u get a house for 72k in 2018 that a council were interested in renting from you? It must be in a terrible area is it? Great ROI though.
Fair play. That was a great little investment.
Fair play. That was a great little investment.
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