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anybody know the housing network?/ or have Company let experience ?

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Author Topic: anybody know the housing network?/ or have Company let experience ?  (Read 90 times)
Newbie
Posts: 8

I like property

« on: November 03, 2020, 10:33:09 PM »

does anyone have experience of https://www.thehousingnetwork.co.uk ?

They are interested in a couple of my properties. They let the property from the landlord then rent it out for short term lets to people who need temporary accommodation. The  benefit is a secure income with them dealing with everything, they say.
 Does my mortgage/insurance allow this as it wouldn't be a standard AST with the tenant?
Has anyone done this or heard of them?

Thanks in advance
Lenny
Global Moderator
Hero Member
Posts: 3718

I like lots of things

« Reply #1 on: November 04, 2020, 12:56:18 PM »

I have only heard horror stories... but, then, I suppose that's all you ever would hear about on a forum... for the number of Landlords where it's working-out fine, I don't suppose we'd ever hear from them here. There must be a market for this, otherwise it wouldn't exist... but the majority of Landlords that we see here are more typical (I believe).

Only you will know what your Lender / Insurer allows... how would we know? Aren't you asking the wrong people?

If you're willing to say "goodbye" to involvement with your property for a fixed period of time, then it could be an option... almost like you're a silent investor... the neighbours who live around the property may not thank you, but who cares about them? One assumes, at the end of the day, despite the company's claims about benefiting all of mankind, they're out to make a sound profit... and that, you'd expect is something they'll cream off you. So the reasons for not using an Agent could be much the same as not using these.

Why not take a run at it and let us know how it goes?

I have let to a Company before... and the positive was that the rent was paid on time and in full by the Accounts Department... the downside was I was never sure who was in there, and when I checked it once (fire safety inspection) I found things that will live with me forever... I complained to the chap's Secretary and she sorted him out. That was a non-Housing Acts agreement.
Newbie
Posts: 29

I like property

« Reply #2 on: November 04, 2020, 04:46:28 PM »

Look here first https://www.propertytribes.com/rent-to-rent-scams-t-127629271.html
Newbie
Posts: 8

I like property

« Reply #3 on: November 06, 2020, 10:45:04 PM »

Thanks Hippo & DPT
I am checking them out. The parent company is  Centennial Property Limited, T/A The Housing Network if that brings any bells?
Newbie
Posts: 8

I like property

« Reply #4 on: November 20, 2020, 07:52:21 PM »

For the record
 I researched the company and they seemed legit with no horror stories. However My insurance , mortgage and lease all exclude this type of subletting. I could get insurance that covers it, but its 4 x the price. The freeholder would most likely never know. The mortgage lender would most likely never know even If I was product transferring my deal .But if/ when I re mortgaged to another company and they sent a valuation surveyor round or they asked to see the tenancy contract they would find out.
so I didn't do it.
I did contact the council direct and they do a direct letting service where they find a selection of tenants and you choose one and the council pay their housing benefit directly to you and also sort a deposit . I have a tenant now, but the council option is worth considering if you need to get someone in as it is within the rules of Insurance, mortgage and freeholder.
all the best out there
Lenny
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