There are several key reasons why property owners choose to become landlords, some of which include regular income, investment and long-term security.
In 2021 the Department for Levelling Up, Housing and Communities, commissioned The English Private Landlord Survey, a national survey of landlords and letting agents who own and/or manage privately rented properties in England.
In the survey, landlords were asked to select the reasons they originally became a landlord. The two most prevalent reasons were a preference for investing in property rather than other investments (42 per cent) and as a pension contribution (40 per cent) while a third (35 per cent) said they wanted to supplement earnings or income.
Landlords were also asked about how they acquired their first rental property and over half (52 per cent) bought their first rental property with the intention of renting it out. The statistics from the survey suggest there is a clear reason why landlords purchase properties: with the intention of renting them out and to ensure a regular stream of income – which is just one of the key things that landlords can benefit from by renting properties to housing organisations.
Why should landlords rent out properties to housing organisations?
For landlords, there are several benefits when it comes to partnering with housing organisations to offer rental properties as homes for vulnerable people. These include property and financial security, which is particularly important in the current economic climate. Housing organisations also take time to invest in additional measures such as making sure properties meet let ability standards, eliminating this task from landlords’ to-do lists to ensure peace of mind.
As a landlord which partners with a housing organisation, you could benefit from:
Money
Working with a housing organisation ensures you will receive a guaranteed rental income for the duration of the lease. Housing organisations have access to competitive leases which can maximise your income potential and eliminate the risk of losing earnings. Dedicated accounts teams also work within housing organisations, which means that all payments are made on time.
Management
Renting your property with a housing organisation means that it will be fully managed by a team of housing professionals. This often involves a robust property inspection and inventory being undertaken upon handover as well as regular weekly property visits and quarterly inspections by housing officers.
Maintenance
Working with a housing organisation often means that all tenant responsibility repairs are dealt with and paid for by them, as well as access to a dedicated maintenance team to take care of any repairs – ensuring this is hands-off investment for landlords. Some housing organisations may also provide an out-of-hours telephone service which allows you to immediately report any issues. Anti-social behaviour case management initiatives may also be in place to ensure any issues are dealt with swiftly, helping to reduce your workload while giving you peace of mind that your rental property is in safe hands.
Meaningfulness
Aside from being able to take a real hands-off approach when it comes to the management of your rental property, choosing to rent your property to those in need gives you the opportunity to provide a property with purpose. The satisfaction that comes with playing a part in transforming the lives of vulnerable people is a reward that you can’t put a price on.
Spotlight – Bedspace
As a housing organisation, we are always seeking to work with landlords to provide high quality accommodation for vulnerable people. As we look to grow our property portfolio from 500 to 700 across the UK, to help house more vulnerable people, our message to property investors and landlords is clear: if you are a landlord who owns one or more rental properties, you can play an instrumental role in preventing homelessness across the country by choosing to partner with a housing organisation.
Alongside the added benefits mentioned above, there’s a real opportunity for landlords to maximise on rental income while also supporting the most vulnerable people in society by providing them with a place to call home – and we’d strongly encourage any landlords to consider working with housing organisations like ours.
To find out more about how you can get involved as a landlord, or submit a property, visit here.
* Nick Thornhill is managing director and co-owner at Bedspace *
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😂😂 Not a hope, I work with the people who this article is aimed at… if you want non stop hassle then go ahead. The category of individual mentioned should be looked after by the councils and housing associations, a private landlord is taking a big risk when there are queues round the block from grade A tenants.
Personally I prefer the other option of loaning money to a managent company that buys the property and takes responsibility for letting it out to housing associations and charities etc Giving me a monthly share of the rental income. Hands off and no worries.
Private landlords should never rent to Housing Associations if they are proper Housing Association’s they should supply their own property they are given plenty of Government help it’s collusion and they at taking over as well with our help.
Private Landlords if you want someone to manage your property use an Estate Agent.
We are vulnerable Landlords.
Never take on a ' vulnerable' tenant, just asking for trouble, and never get into bed with housing associations or councils.
I pay my taxes to ensure that those who need help get it plus reasonable donations to charities of my choice
I would also pay extra to give any relative or friend more than the basics but I am not willing to give extra money, time or effort to give more than basic assistance to strangers. Most have family or friends who can and should provide any additional help beyond the basics.
One big issue nowadays is what is considered basics. In my view it doesn't include luxuries or indulgences but many lefties think there should be no disadvantages in being disadvantaged.
Can someone explain exactly what the article means when it says "vulnerable"? It mentions ASB but doesn't give any indication of anything else about vulnerable.
That’ll the neighbours next door who are vulnerable.
Err... no thank you!!
Rent to your local council and receive considerably less ... The Highland Council expect you to cover boiler repairs etc and pay you a miserly rent...
No thanks
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