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Councils Woo Buy-to-let Landlords

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"Councils woo buy-to-let landlords with lure of steady income" is the title of a very large article in FT Money today - councils are now relying on btl landlords for social housing - Edinburgh and Hillingdon, for example, are offering landlords 5 year guaranteed rents - typically at 10-15% below market rate (but no agent fees so this isn't as bad as it sounds).

Orchard and Shipman are the company being contracted to run the scheme. No doubt yet another private company making huge profits from the public sector.

1500 homes are now going to be provided through this scheme in Edinburgh alone.

Rent is being paid by council or housing associations 1/4erly and in advance - guaranteed repairs are made to properties leased through the scheme(photographic records are taken of all properties). Voids are avoided by the landlords.

So here we have the private sector leaching private sector housing stock from first-time buyers, etc.. They should be buiding their own bloody council housing instead of making the affordable housing crisis worse by gobbling up pre-existing housing stock for social housing purposes.

Thank god I no longer work with public sector cretins.


Edited by gruffydd

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