Monday, September 3, 2007
Sell To Rent
The property business never stands still for long before a new species of entreprenuer or shark appears. The latest stage of this evolution has created companies that buy properties, (typically those that can't sell) and then rent them back to the seller. However, there is concern about the lack of any regulation governing this practise and some homeowners are simply being conned. In one case highlighted by a Citizens Advice official an elderly gentlemen sold his home for £40,000 even though it was valued at £165,000.