Rent back Scotland -
what level offer will I get for my house?
Scots who are used to the "offers over"
system can be shocked to discover they will not receive the full
surveyed value of their property if they decide to leaseback in
When we ask clients to consider that
most requests to rent back in Scotland are long term arrangements -
meaning the property can't be re-sold in the near future, the penny
begins to drop.
Not only do Scottish rent back experts offer a
specialist service which is not available on the open market, but we're
limited in the ways we can make money while you remain in your home.
In our case we don't apply fixed discounts when
formulating our agreements. But we do have
to consider how long you'd like to remain in your home and the level
of rent you'd find manageable.
back in Scotland it's useful to consider that the
more we pay for your home as a percentage of the full surveyed value the higher the level
of rent required to cover our costs.
Effectively you set the price when you
give us an indication of the level of rent you'd find affordable.
Rent back Scotland -
can I afford it?
We simply wouldn't enter into any
agreement which wasn't affordable for the client. We'd be shooting
ourselves in the foot for one thing because we want you stay long term.
If the figures allow,
we will give you
a number of rent back Scotland options to choose from. You pick the one that's right for you.
Any leaseback in Scotland must be affordable and all
our offers are guided by that.
Our aim is to
find a solution that provides you with an affordable rent and allows us
to to secure the property long term for you. We use market level rents as a benchmark
Rent back Scotland - how long
can we stay?
Renting back in Scotland generally
implies a long
term arrangement. Most of our clients ask to
stay for a
period of between four and eight years - but can be longer. A common
request is for families to stay until their children's education is
renting back in Scotland can
I buy my property back
Yes. You can buy your property back at
the full surveyed value
minus a pre-agreed discount or we can fix a
price today. The market value is determined by an independent RICS
surveyor from one of the major Scottish firms - your choice of firm or
We also recognise that deciding to rent
back your home is a big decision. There is no rehearsal. We're happy to build a one year
"cooling off" period into the agreement. Should you change your mind for
any reason you can buy your property back at the same price we bought it
from you - as long as you pay our costs.
How much rent will you
The exact level of rent depends on the
individual nature of your circumstances. We try to set the level
of rent below the going rate for the property but we also have to factor
in our ability to make a "fair return".
Most of our Scottish clients want to reduce their monthly outgoings - otherwise a rent back option wouldn't
We aim to fix the level of rent for two
years at a time. In any event we're happy to confirm there will be
"no surprises" in the level of rent you're paying from year to year.
Are there any fees
involved? Or other costs when renting back in Scotland?
No. We do not charge fees for any
element of a rent back arrangement.
Once you become our tenant (client) we become responsible for the external
maintenance of your property as well as the gas and electrical systems
and repairs. Most clients ask to be allowed to do their own decorating.
All that we ask is you continue to
insure the contents of the property as you would normally.
Is there any "small print"?
We run our business in a very open way.
The terms and conditions of our offer will be clearly
spelt out in our proposal and information back. Your prospective tenancy agreement will
also be available before you decide to proceed. In
fact, we make a proforma lease available to you at
an early stage in our discussions. We
also go one stage further and allow you to customise your agreement.
There are no "hidden" terms and
conditions and no secrets.
How do we know we
All our tenancy agreements give you the
right to automatically re-new them, as long as both parties (you, us)
maintain our obligations under the lease.
Deciding to sell and leaseback your
home in Scotland creates a situation of "mutual convenience". You want somewhere to
stay and we'd like our financing costs covered by the rent.
Rent back Scotland - can I keep my pets?
If you're renting back in Scotland with
us - yes of course. In our view a rent back
arrangement should be flexible. Our scheme allows pets. Although many landlords
have a "no pet" policy (dogs seem to be especially
problematic), as animal lovers and pet owners ourselves we take a
different view. The majority of our clients own at least one pet.
Will it still feel like my own home?
We hope so.
We want you to feel that your property is as
much your own home as possible. For this reason we don't insist on using
letting agents to manage our rent back properties. Our trust based
system relies on both parties keeping their end of the agreement. Just
like you - we're selective. After all, hopefully we'll be together
for years to come.
However you will still be protected by
a standard Short
Assured Tenancy and covered by our Scottish property maintenance
service which is based in Glasgow.
If you've got a question not covered
here please ask us
rent back Scotland question using the form provided. Don't forget to include
your name and phone number or email address. Alternatively call us on
0800 043 0669 or submit an