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If you are a landlord or investor, Lets for Life would like you to consider tenants with learning disabilities, physical disabilities and autism.
Most of our tenants are recipients of enhanced housing benefit and have a supported living package, enabling them to be cared for in their own rented properties. From a landlord’s point of view, this makes them excellent tenants.
There is a large, unsatisfied demand for housing in this sector, possibly caused by the perceived complexities of the tenants, possibly by the fact that they are Housing Benefit tenancies.
Lets for Life exists to handle the extra admin and ongoing support so a landlord can remain insulated from these issues. In addition, we do all the jobs a normal letting agent does, like finding the right tenant for your property and managing the tenancy on your behalf.
We take a lot of pride and effort in finding the right property for the right tenant. We want to make sure everyone is happy with the arrangement and that it will work long term.
You lease your property to Lets for Life via a commercial lease agreement. We have a management agreement which goes through all the finer details of who manages the repairs etc. You have the peace of mind that your property is in the hands of a registered organisation and being used for something good.
Rental Yields: Close to and sometimes better than private sector tenants. As a rough guide, between 5% and 7%.
No Rental Management Fee: Unlike most letting agents, we do not charge the landlord a rental management fee. We are a not for profit organisation and our costs are covered by a small charge to the Local Authority.
Long term tenancies: Our tenants have often come from a care home or are young people leaving their parents’ home for the first time. As such, to be offered a home of their own really is a dream come true, and they almost always become long term tenancies.
No set up or introductory fees: Unlike most Letting Agents, we do not charge any set up or introductory fees.
Free inventory: We complete a thorough schedule of condition on the property at the beginning of the tenancy and at least annually thereafter.
Regular property checks: In order to provide additional housing management to our tenants, we regularly visit them and also check the condition of the property.
Quality tenants: All our tenants have in house support staff from trusted support providers (not Lets for Life) to help them with their day-to-day life. Lets for Life staff provide housing support to our tenants on all aspects of their tenancy, from moving into the home to 24/7 emergency maintenance.
No Rental Arrears: Your commitment of rent is made by Lets for Life, a registered organisation so there is no risk of rent arrears.
No deposit: Due to the nature of our tenants, they do not have the capacity to provide the customary one or two month rental deposit. However, since the rent is paid by the Government, there will be no defaults, and since there is always someone supporting them at home, there should be no damage beyond wear and tear.
1st rent receipt delay: There is a delay between the tenant moving in and the first rent payment arriving from the Local Authority. This is unfortunately, unavoidable. A Housing Benefit application cannot be accepted by the Local Authority until the tenant has actually moved in. So they will only start to process the application on the day the tenant moves in. When the application has been processed, however, the rent will come through backdated and paid in full.
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