Who are the best companies
and rent back schemes? We're not going to tell you that we're one of
the best companies to rent back from - we'll leave you to decide. But it
is important you make a wise choice.
The golden rule is to arm yourself with
sufficient information so you can make an informed decision. This may
also involve speaking to other family members, advisory services such as Citizens Advice and
Shelter as well as taking financial and legal advice. And you can be
certain that any rent back provider who baulks at you taking time to do
this will not be among the best companies providing sell and rent
clients learn more about selling and renting back they become clearer in
their own mind what they're looking for. If you start out with limited
information it's obvious that you may not know what questions to ask.
However, although people often have individual requirements there are
some things that stand out as general "must haves":
...arrangements that allow
them to meet their objectives in renting back
..written terms and
conditions explaining clearly what's being offered, what your rights and
obligations are and their commitments to you
...guarantees (as far
as is legally possible) a secure length of tenure
...fair and stable rental
payments gauged to market rates or lower
..gives them the
ability to keep their pets
.. lets them continue
to treat their house as home.
The best companies providing sell and rent back
schemes will already do this.
We'd like to add
another which you may not be on your list but should. The best companies
offering sell and best schemes will also have some form of policy on
client selection. Companies focusing on certain "high risk" groups of
homeowners can unwittingly introduce risk into their business. And
that's the last thing you need!
objectives and fits in with your plans
Sell and rent back
schemes are two-way agreements. Or should be. They only work if
the terms suit both parties. For example, we take the view that if a
sell and rent back arrangement won't meet your objectives it won't meet
The best companies
providing sell and rent back schemes understand that the motivations and
circumstances surrounding a rent back enquiry are always
different. The best companies providing sell and
rent back arrangements will take a "bespoke" approach while
ensuring everything is legal and proper.
right to remain in your home
Some guarantees are
worth nothing - the best companies providing sell and rent back
arrangements will not guarantee what is not within their gift.
rightly worry about security and the most reputable sell and rent back
companies are taking steps to address these concerns. Actions speak
louder than words of course. We offer clients one of two options.
Written confirmation in their lease that they have the automatic right
to re-new the lease - as long as both parties meet their obligations
or we issue consecutive leases upfront at the time of sale.
We do hear that some
companies appear to try to get by with minimal paperwork. Bear in mind
that reputable sell and rent back firms have nothing to hide. So please
ask whichever firms you are considering renting back from, for written
terms and conditions.
The best companies
providing sell and rent back schemes will want you to enter into any
arrangement with your eyes open. You should meet with your solicitor at
the earliest opportunity to explain why you're thinking of renting back.
Take all your paperwork with you so your solicitor can look it over.
Many sell and rent back arrangements set rents at market
levels as a matter of course. That's fine if you can afford it, but doesn't give you a
big incentive to stay put. Does it?
The level of rent we
agree with you is not automatically pegged to market levels (for
example) but on what
you can afford and the likelihood we can make a "fair return" over the
lifetime of the agreement.
You also have every
right to ask about future rents and how rent increases will be
Keeping your pets
landlords will not allow pets in their rental properties. Dogs in
particular can be an issue. The best
companies providing sell and rent back schemes are more flexible recognising pets are
house like home
It's often an
unspoken query but people wonder if they'll "feel" like tenants.
Everyone we speak to - and there are no exceptions - are thrilled when
we confirm they'll
be able to continue to treat their house as their home. Yes, legally of
course, you'll be a tenant. But it doesn't have to feel like that day to