RAS Scheme and apartment

Tomjim

Anyone know if a council will accept an apartment in the RAS Scheme

Gatling

Tomjim wrote: »

Anyone know if a council will accept an apartment in the RAS Scheme

Yes if you can find a landlord that signs up to the scheme

CaraMay

Why would landlord be slow to sign up?

murphaph

CaraMay wrote: »

Why would landlord be slow to sign up?

-Council asking LL to jump through hoops and modify a property that would otherwise be legal to rent out privately
-Inspection of property may take weeks to actually happen and properties can't enter system without being inspected
-RAS means (as with RS) that the tenants are not bearing anywhere near the full cost of the property themselves and often people who aren't paying for something may be less likely to respect it
-The councils have been know to attempt to force through rent reviews that do not bear any resemblance to the current market rate for the property
-Rent reviews are only permitted at 24 month intervals
-The big kicker: Most councils only offer 90-95% of the actual market rate for the property

Why would a landlord in an area with half decent demand sign up?

Gatling

murphaph wrote: »

-Council asking LL to jump through hoops and modify a property that would otherwise be legal to rent out privately
-Inspection of property may take weeks to actually happen and properties can't enter system without being inspected
-RAS means (as with RS) that the tenants are not bearing anywhere near the full cost of the property themselves and often people who aren't paying for something may be less likely to respect it
-The councils have been know to attempt to force through rent reviews that do not bear any resemblance to the current market rate for the property
-Rent reviews are only permitted at 12 month intervals
-The big kicker: Most councils only offer 90-95% of the actual market rate for the property

Why would a landlord in an area with half decent demand sign up?

Not exactly all true but close .
Market rents less 20% if I've remembered correctly.
As above it can take weeks for the council to sort the paperwork and clear the property for use ,and what's happened on a number of occasions people have signed a tenancy paid a deposit then sent there paperwork to the council who don't pay a penny till everything is considered above board,which in some cases was 3 months before the council's paid any thing to the landlord.
The landlord also is still has to maintain the property and still cover all repairs .

Not exactly a landlords dream