read more articles

Quality Not Quantity

30th July 2016

Over the next few weeks we will be looking at rental issues, which come up in the process of investing in property. In the first article of this series we will be looking at the serious issue of subletting, which may mean short term gain but might mean long term damage to the property.

This is particularly an issue where the properties are sublet in order to satisfy low income tenants.

One particular instance of this was when I was asked to source a tenant for a property on a tenant find service, not a fully managed service. The tenant we found was referenced and passed the referencing stage and therefore secured the tenancy.

Sometime later I was informed there were 12 people living in the property and the original tenant never moved in.

This resulted in damages of £5,000, and eviction costs as well as a void period.

This situation could have been avoided with regular inspection, under a managed service.

This third party not only caused damages but made around £28,680 in profit! The landlord in this situation was only charging £15,000.

Multi lettings can be both profitable and safe if managed in the right manner.

Call me, Richard Bond, Lettings Manager at Sow & Reap to find out how we can help.

Register with us now to receive emails about our property opportunities, articles and event information!

Sow & Reap will process the data you submit for the purposes of emailing you property opportunities, articles, and event information. Only supply your phone number if you are happy to be telephoned by us regarding the same, otherwise please enter 0. In the comments box, please write “Consent to SMS” if you would like to be occasionally notified of property opportunities and our events via SMS.
Please only click ‘Send’ if you consent to Sow & Reap processing your data for this purpose.

Get to know us

If you want to know more about how investing in Central London property can get you great results, then don't hesitate to give us a call.

Sow & Reap

Meridien House,
42 Upper Berkeley Street,
London, W1H 5PW

T: 0207 993 0103

Sow & Reap

1008, Gala Empire,
Opp. Doordarshan Tower,
Drive-in Road, Thaltej,
Ahmedabad - 380052
Gujarat, India