Flats For Rent London

So the story goes…

What was it that lured Ray to Bangkok in the first place? Was it sex and the city? Wine, women and song? Or a just plain old interest in the City of Angels-a literal translation of its other name-Krungthep. Certainly Thailand was on the list of one of the more fascinating places to visit, he’d rocked up from Kathmandu at the time, it had been a choice of heading back to the UK or using the little money he had left for a flight to Bangkok… the choice wasn’t that difficult.

Roughing it

He hadn’t known anyone in Bangkok, not a soul, but he’d been in India and Nepal for the past six months and had heard that Thailand was like Disneyland in comparison-thanks to the hospitality, warmth of the Thais, delicious safe food and the possibility of work.

His first task was to find rock bottom budget accommodation-which happened to be where all the other backpackers used to go; Banglampoo or better known Khaosan Road area which is a stone throw from the Grand Palace.  The guest house he had stayed at offered him a corridor dorm like bed at first, cheap for the price but no guarantee of a good nights sleep. After a while he’d managed to graduate to a room of his own-a tiny squalid roach infested room in the corner of the house with a table fan and no window-pure luxury! Those days were hard, but for 20 Baht a night what more could he expect? This was his first experience of renting in Bangkok. He did however; achieve exactly what he had intended on the budget available at the time. Eventually, Ray gets the job, moves to a condo, meets the rent, meets the girl and finally settles in Thailand. But behind the story of Ray, we can see just how easy it was (well if you can rough it a little) to make ends meet and still manage to make Bangkok our home. Nowadays, similar accommodation still exists in Bangkok but if you don’t fancy roughing it in the city, there is an extensive range of much nicer accommodation from quaint town apartments at moderate rent rates to the super deluxe condominiums that boast wonderful skyline views of the city.  In my book this would come under the category of comfortable living but for the sake of soul enlightenment?

Shopping the area

According to current statistics the city covers an area of 1537 square metres and is now networked not only by a rapid transport system, but also by a high speed global communications and intranet link. Is it any wonder that Bangkok attracts more business investment along with a new breed of executive class resident?

Of course, it would probably be better to do your homework before moving into rented accommodation, it’s not as final as say buying or leasing a property but it would still create a major hassle if you made a mistake. Check out the area you want to move to. How about the amenities, shopping, schools, fitness gyms etc? The more the merrier and the better the class of area. Compare hotel prices with renting, we know that hotels are more expensive but renting also comes with those extra costs like water and electricity etc.-check those out before deciding.  After you have done your homework you are ready to go to the next stage, use a reputable real estate agent to do the rest for you. Companies like Forbest Properties have an extensive list of apartments and condos for rent, a reliable and simple method.

A far cry from a rough and ready patch that Ray had lived in but then again, we shouldn’t forget the old saying  “Enlightenment must come little by little – otherwise it would overwhelm.”

In South Africa, we call it winter, the temperatures in the Eastern Cape drop to a daily average of around 26 degrees c, at night around 13 with the early mornings sometimes as low as perhaps seven degrees on occasions, a friend of mine who often holidays away from his London flat says to me “and you call this winter!”….

Today, as I write from this wonderful winter holiday destination, a vicious cold front is moving through, it reached as low as seven degrees this morning and now, at mid day it is only 13,5. Let’s think about this for a moment, this is a cold spell, in other parts of the world one cannot leave one’s pet outside for more than fifteen minutes or it will die. Next winter, the 2010 soccer world cup, the largest sport event in the world will bring thousands of travel visitors to South Africa. Are they panicking about temperatures, please don’t – I have watched telly and seen them play football in the UK and Europe in slushy left over snow, we call it mud! South Africa is a stunning winter destination.

Maybe a little longer in bed, take along an extra jersey just in case and enjoy the warmth of your hotel or bed and breakfast accommodation as you travel around South Africa, from Cape Town to Johannesburg, Port Alfred, Knysna, Durban to Port Elizabeth as you follow your team during the competition. Perhaps rent a holiday home to use as a base from which to travel.

Whilst camping and out door living might not be great at this time,  this form of accommodation however will take you to some wonderful and interesting places.  Visitors to South Africa have many other accommodation options, from self catering to luxury Hotels, browse around our recommended accommodation site www.staysa.co.za and check out the many bed options across all types and budgets.

A top for travel tip in winter is that wherever you go, pack a knee rug and an old fashioned hot water bottle that you can fill in the evenings and take it along to bed with you, the knee rug is warm if chilly air hits an open game viewing vehicle and it can double up as an extra blanket when you are sleeping.

Travel as little off the beaten track as you tour between soccer matches, as said, Winters are generally dry in South Africa, the exception perhaps being the Western Cape or Cape Town region, discuss your route and site seeing options with the owner of your accommodation establishment or travel agent. South Africans’ are proud of their country and will gladly assist any visitor.

South Africa is a wonderful winter destination, most international visitors head for the game parks in summer as they run from the European winters, whereas it’s actually in winter they should be visiting, animals are easier seen, the grass is shirted and they are often gathered around the waterholes.

YOUR INPUT IS CRITICAL…….. Please send any travel tip or travel idea to info@staysa.co.za  help fellow travellers to enjoy safe and happy travelling. We will gladly assist with travel information or visit the site at www.staysa.co.za where you will find comprehensive travel and accommodation information.

 Alan Hawkins – CEO

Buying a townhome does not only mean owning an enclosed area with four walls and whole of its interior air space but it also means buying the homeowner association. First time buyers have tons of questions in their mind when they lookout for a townhome. If you are the first time buyer, then be sure to examine all the homeowner association documents, including its latest financial statements, to determine if one is buying into a money pit or a gold mine. Following are some questions that a buyer should always consider and fetch answers for. How financially sound is the homeowner association: To determine this, ask for and read copies of the following documents: Covenants, Conditions and Restrictions (CC&Rs), By-Laws and Regulations, Meeting Minutes for the last year, HOA Financial Statement. These documents will tell you about special assessments being planned to address the deferred maintenance, capital improvements that are planned for future execution, amount of cash reserves, whether the association had ever been sued and history and likelihood of dues that might increase soon.Monthly dues: This question is very important as answer to this, would determine your monthly dues. Check if your monthly dues include payment for water, cable connection, ground maintenance/ garderners, trash pick-up, sewer services, insurance, professional management fees, pool, spa or fitness centers, roads and sidewalks, assigned or underground parking, gate access, etc. Who manages the complex: Larger complexes require professional management. Initially it would cost more to hire a professional company, but in the long run it tends to save money. Professional managers wield more bargaining power when negotiating for services such as bids for gardeners or general maintenance because they represent such a larger number of complexes. How many units are rented: Generally people do not prefer renting their townhomes. It’s not that tenants are bad people but there is a belief among people that renters don’t take care of the property in the same way that an owner occupant would care for it. In addition, some lenders does not loan money to a buyer if more than 25% of the units in the complex are rented out. Some homeowner associations refuse to let owners rent their unit for more than 30 to 60 days, if at all. How calm are your surroundings: Asking the neighbors will give prospective buyers only an idea of the noise factor, but so will driving the area late on a Saturday night. It’s best to buy a corner unit because fewer common (adjoining) walls means less noise. However, soundproofing doesn’t help much if your next-door neighbor enjoys blasting Pink Floyd every Sunday at 2 AM. Closely examine the available amenities, parking and pet restrictions (if any): Talk to the people who lives near by. Their feedback would be the best resource for you to help you find out the hours of use for pools, spas and recreation areas such as tennis courts or game rooms and check to see that those times work with your schedule. Check how is guest parking handled, and how many parking spots are provided with each unit? Is it possible to rent an extra parking space, if required? How much will you be charged to replace a lost key for the security gate or clubhouse? Also check how many pets can you have? Are there size restrictions? Are you allowed to bring pets through the lobby on a leash? Make sure you check all these points before you decide to buy a townhome.Pull into the parking lot or garage in the late afternoon when homeowners are coming home from work. If they hate the homeowner association, they will tell you in no uncertain terms what is wrong with it. Better to find out the sentiment and reasons behind it before you buy than afterward. HOA or Home Owners Association have the power to regulate and monetarily penalize owners for violations like never before, so make sure you completely understand what you are buying into before you sign on the bottom line.

If you’re actively canvassing for new business, you probably get this objection every day.

And this objection probably causes more frustration among recruiters than almost any

other. But let’s get things into perspective. This is just a variation of the classic objection,

“we’re happy with our current suppliers.” The truth is that this objection is less of an

obstacle than most recruiters realise.

What NOT to say…

Most recruiters fall into the trap of asking, “When is your PSL up for renewal?” or “How

would we go about becoming a preferred supplier?” These questions may be useful at

some stage, but not as your initial line of enquiry. Why? Because these questions

implicitly assume that there is no possibility of winning business from this client in the

short term. So usually when you ask these questions, you have already admitted defeat in your own mind. And you may be giving up too easily.

The big lie

If we hear something often enough we’ll usually start to believe it – even if it’s not true.

Be aware that just because the client says they have a PSL doesn’t make it true. Many

companies have discovered that this is an easy way to get recruiters off the phone fast.

And even if it is true, it may not be strictly enforced. Often the PSL is applied selectively.

A good CV will almost always be considered no matter where it came from – especially in

a candidate-driven marketplace.

So before you resort to arranging a call back or sending literature, try testing the strength

of the PSL with one of the following strategies:

1. Remind them that there is no cost to consider your candidate

“It doesn’t cost you anything to consider our candidates. Let me send you my best 1-2

people. You can compare and contrast them against the applicants you’re already

considering. If my CVs are no better to the ones you’ve received from other sources, then

fine. On the other hand, you could be missing out on a real star that you would not have

access to otherwise. And at the very least, you’ll satisfy yourself that you are recruiting

from the best shortlist. You do want to recruit the best person, don’t you?”

2. Probe for problems with their current supplier

Now here’s the challenge. If you come straight out and ask, “What problems are you

having with your current suppliers” you’re unlikely to get an honest answer. People don’t

like admitting problems to themselves, let alone to a stranger. So we need to do some

detective work. Remember watching Lieutenant Columbo on TV? He was a master at

finding flaws in the suspect’s story. But he did it without them realising what he was

doing until it was too late. In fact the secret to his success was that he was so polite and

unassuming. He’d always start out with seemingly harmless questions, and these would

inevitably lead to more challenging ones. Take a page out of Columbo’s book.

Try questions like: “You’ve got a Preferred Supplier’s List? I’m glad to hear it! It tells me

that you take recruitment seriously! Who do you use? What were your reasons for

choosing them? If you could change one thing about the service you’re getting right now,

what would it be? Is there anything else you’re not 100% satisfied with? Tell me, how

well do they handle x,y,z (your area of specialty)?” Before you know it, you’re engaged

in a meaningful business conversation with your client.

3. Become a “Second Tier” supplier

Ask them, “What would you do if your usual suppliers were not able to provide suitable

candidates? What’s your back-up plan?” Many clients will not have an answer for this.

They’ll be forced to admit that IF their current suppliers could not deliver, THEN they

would need to consider other alternatives. Then you can say, “Our intention at this time is

not to replace your existing suppliers, but to complement them. Let us be your second tier

suppliers.”

4. The “Spare Tire” analogy

If the client is adamant that their current suppliers have never let them down before, try the

spare tire analogy. “Do you carry a spare tire in your car?” Of course. “Why? You have

four perfectly good tires. Have they ever failed you?” No, but what if I get a flat?

“Exactly, and it’s guaranteed to happen at the most inconvenient moment when you’re

under pressure and you don’t have time to waste. What’s why it’s prudent to carry a spare

tire. So let us be your spare supplier. No matter how good your current suppliers are, one

of these days they will let you down. And we’ll be waiting in the wings to come to your

rescue.” Yes it’s cheesy, but it does get the idea across. For best results, try to adapt this

metaphor to your client’s industry. For example, if your client is in IT, talk in terms of colocation and redundant servers.

5. “We try harder because we’re number two”

This was the famous strap line that helped Avis rent-a-car win market share from the

market leader Hertz. And you can use a similar idea to win new business too. If the

incumbent is becoming even slightly complacent, then you might be able to get in simply

by working harder.

Tell the client, “I understand you’re happy with your current suppliers. That’s why my

intention is not to replace them, but to complement them. Let me prove to you what we

can do. What vacancies are you struggling with right now?”

If you succeed in filling the job, you’ll be a hero. And if you don’t fill the job, then they

can’t fault you because none of their usual suppliers was able to either! You’re no worse

off for having tried. And at least now you’ve started a dialog that you can expand on.

This approach is great for positioning you as the recruiter who will go the extra mile.

However, beware of the client who says “Sure – send me some CVs.” This line is very

often a brush off. The outcome of this conversation should ideally be a face to face

meeting. As a minimum, insist on taking a proper job order. There’s no point in putting a

lot of effort into a vacancy which is not fill-able, or which the client was never really

motivated to fill in the first place.

6. Sell to the MAN (Money, Authority, Need)

In other words, you need to be selling to the real decision maker. Obviously the MAN is

often a woman. The point is that unless you happen to recruit HR people, you should be

targeting the line manager instead of Human Resources.

Avoid going through HR if at all possible. The line manager is usually more receptive to

your approaches for two reasons. Firstly, she is the one with the staffing problem, and

presumably is more motivated to find a solution. Secondly, she doesn’t usually care about

the PSL and will often let you in the back-door. If you build a good relationship with the

line manager, and come up with the right candidates, she can insist on interviewing your

people and get the offer pushed through. Once you’ve got a proven track record, you can

re-approach HR to look at their broader recruitment needs. Remember, it’s easier to beg

forgiveness than to ask permission!

7. The Trojan Horse

Even if you’re getting knocked back, try specking in a star candidate. A top-calibre

candidate can be a powerful door-opener. And it’s much easier to win the battle once

you’re already inside the fortress. Let me give you a real example from my own

experience. I used to recruit software salespeople, and I was determined to break into

Oracle. Their Recruitment Manager in London told me they had a strict Preferred

Suppliers List and they would not consider CVs from any company that was not on the

list. I refused to give up and went directly to the Regional Sales Director in Edinburgh

where I am based. He admitted that he was always looking for good salespeople, and

agreed to meet me. However, he warned me that he already had a good relationship with

two of my competitors and was happy with their service. Undeterred I met him in order to

start building the relationship. Then I simply kept contacting him with good candidates.

Eventually I struck gold with a candidate I was representing exclusively.

He was an eCRM sales specialist within the Insurance and Banking sector, which was a

niche that Oracle was keen to develop. I made a £13,000 fee (20% of £65,000) and the

recruitment department was forced to put me on the PSL, which opened up new

opportunities for my colleagues in our IT recruitment division.

So the next time a client tells you they have a PSL, don’t give up – get excited. If they have

a PSL it probably means they spend a lot of money on recruitment. And with a bit of

Repossession is the one thing that all homeowners have on their minds when things get tough. Some homeowners find themselves struggling to make the mortgage repayments if they become ill and have to take time off from work or suffer an accident. Some find themselves unemployed due to being made redundant. In all of these cases mortgage arrears that mount up past a couple of repayments could mean the lender would take you to court and you could lose your home.
If you are faced with the lender taking you to court or court proceedings have already begun then it might not be too late to do something about it. Even better you might be able to remain in the property. You could be forgiven for thinking that all of this sounds too good to be true but it could happen if you look into selling your home and choosing to rent it back.
There are specialist companies who offer to buy homes and then allow you to pay affordable monthly rent to remain in the property as the tenant. You are able to find an ethical company online who will work with you every step of the way to reach an agreement for you to be able to remain in the home. They will offer you 80% to 85% of the property value and first provide you with a verbal quote to give you a rough idea of how much you could sell your home to them for. If the offer sounds reasonable then the company will come to view the property and make you a written offer. At this time they will explain what the deal entails, how much you would have to pay in rent each month and state how much you would be able to buy back the property for, if and when your finances improve.
At first glance around 80% of the value does not seem fair; however you do have to take certain factors into account. The first of which is that it does provide a way for you to remain in the property and in the future you could buy back. If your home means everything to you and you cannot bear the thought of losing it then this could be worth the loss. Another consideration to take into account is that your home will be taken by the lender and then sold. It will go on the market and it could be there for many months, you might not get the asking price for the property and could have to drop the price in order to get interest. Finally if you decided to sell the property yourself to avoid eviction then you would have to pay out for fees associated with a solicitor and estate agent and these can add up to a considerable amount. It doesn’t cost anything to get a quote with a buy and rent back company so it is worthwhile at least looking into this as an option.

Going back a few years when I first moved out of my parents home to live in London, in University halls of residence, I remember feeling more excited than scared. The world of independence, no curfews and late night parties were something that had overwhelmed my senses. I felt extremely elated the first day I had arrived at my flat, knowing that this was the beginning of some exciting times. However, I was soon going to learn that maybe I should have prepared better for the daunting task of keeping up with the rent, doing my own laundry, buying food, cooking, cleaning and actually using the right cleaning equipment for getting rid of the beer stains!
I guess my first month of living in a flat with flatmates consisted of drinking, partying, more drinking and more partying. My first year at University appeared easier than I had expected, as with most students, this year was all about the novelty of entering into the world of university, making new friends and living in a completely unfamiliar area. It could not get any better for me – until one day I checked my bank account and the world of adulthood crashed down upon me. So coming from someone who is experienced in the world of ‘being skint’ there are a few things one must follow when beginning your new life.
First and foremost, stock up on your cleaning equipment. It is hard living with other people, as they are strangers to you at first and you each have differing habits. This is where you all need to get together when you first move in with each other, get to know each other (over a few drinks), and perhaps establish a routine of some sort. Drawing up a timetable of who will be doing the dishes on what day will not always work, but it is helpful and the finger can be pointed at the one that did not follow the roster. If you are a clean freak, like me, then you may need instigate rules of your own about cleanliness (without being too dictatorial).
Secondly get into a habit of budgeting, give yourself a realistic amount of money to spend so then you will not end up in a difficult situation of not having any money for food. Some people prefer to use envelopes, mark each of the week on each envelope and place a certain amount of money each envelope, forcing them to stick to a tight budget. This is fine, if you know you not be withdrawing any money from the bank, I recommend you stick to a carefully planned out budget and try to stay strong.
Thirdly try to cut down on your shopping for essentials only, keeping one or two days of the week a treat day. It is all very well going to pubs and students union bars with your friends, or shopping for wholesome food, but this can also place a heavy dent on your bank account. I have been in situations whereby I have spent extortionate amounts of money on shopping for food; this is where I had to learn about value for money foods and actually calculating how much I would need in a week. I would also spend a lot on cleaning equipment and products, falling into the trap of spending unnecessarily. So be careful.
Finally, devise a timetable for studying. University is all about finding out more about the big bad world, learning how to budget, meeting new people and enjoying your freedom. However, it is a time for you to work towards a fruitful and prospective career, so I am afraid to say that as much you will like to have fun, it is very easy to lose track of why you are here and end up with your grades suffering. Many have failed their first year at university, some have even dropped out, you want to be the one who stays on and continues throughout the whole of degree course. It is far more exciting to see how your time at university pans out – it gets better each year you are there.

In today’s world, it is not hard for people to find themselves dealing with severe financial problems. This situation always demands a lot of pondering about how to get out of the trouble. Some people prefer taking loans whereas others try to go for some jobs to get an extra bit of money. Now, if you are one of those persons who can not do another job and don’t want to take loans because of the malice of high interest rates, it is better to use the option of sell and rent back your house. The option of selling and renting back your house:This particular option is suitable for all. This is all about selling you home to get a good handful of money and then renting it back to keep staying in your home. It is a perfect choice for those who need quick cash in hand. However, if you are interested in this particular option, you must make use of internet to sell your house in the right way. Actually, there are lots of good companies offering their services in this regard. Not only will they buy your home at better prices but they will also transfer money in not more than 24 hours into your bank account. It is due to ease of selling and getting money that you must always prefer selling to an online company. Although it is good to sell and rent back your house by making use of internet but you must be extremely cautious at the time of doing so. It is basically because of the availability of scammers who can make life difficult for you. The right thing is to perform some research for which you can use internet to read reviews and comments of those people who may have already used the services of a specific company. When you will use internet to find a right company to sell and rent back your house, you will actually become able to get outstanding services. For instance, a good company will never take too long to sell your home. In most cases, it will take somewhere between 5-10 days to sell your house. Here, you must also keep in mind that using internet is a right option because it allows you to find such companies which don’t ask for any extra or hidden fees. In fact, most of the good companies allow you to sell your home without bearing the survey and legal fees. So, the fact of the matter is that if you are interested in selling and renting back your home, it is better to make use of internet to find a right company. There is a diverse range of companies with different facilities to offer. But, you must take your time as it is better to wear belt and braces at the time of selling your home especially if you don’t want to face any trouble after completing the transaction.

Real estate is big business and many people, hoping to make an income in their spare time, think about taking a free investing course. There are now a few of these on the internet, some of them in the form of an ebook and others in the form of a series of articles and tutorials. One of the things that spurs people into real estate is the recognition that having property with tenants means a lot of income in rent.

If you take a free RE investment course, it will tell you that buying property, whatever its condition can provide you with an income. You buy it, you fix it up and then you rent it out to tenants. Sometimes tenants are particular about where they live. Just as it is hard to sell property in unpopular and rundown areas, so it is hard to rent in them. People like to live in a nice neighborhood. Bear that in mind before you invest in land or property. If you want to start making your first million, remember the following:

You can earn an income
Don`t expect to get rich overnight
There will be some initial outlay
Make sure your credit is good otherwise you could be denied a mortgage
Be prepared to work hard
Make real estate your primary business interest
Take notice of location

Rent coming in every month can save you when you are having a bad patch. Your monthly mortgage repayments will then come from the buildings themselves. A free real estate course will point out these kinds of benefits. Owning property and having tenants is one of the best ways of making money and it has some unique tax advantages. Just remember that you need property in a good location.

When you are taking a free real estate course you will find out that location is key. A central piece of advice is, don`t be blinded by a bargain it`s no bargain if it`s not in a good location. This can be the making or breaking of you in the real estate business. If you buy a property in a good location, even if it is shabby, it will rent and stay rented a better property in a poor location could remain empty for weeks or even months. Copy the supermarket giants, their major business strategy is to give the customer what they want. The same applies in real estate. What the customer or tenant wants, is location. So give it to them and make money.

What the supermarkets know is that the customer is king. Taking a free real estate course will present you with the same argument. Nobody ever made money without giving the customer what he or she wants. People will not spend their hard earned money if they don`t like a supermarket`s stock and they won`t rent a place if it`s not in a good location. This is one of the single biggest secrets of making money in real estate.

With the summer 2007 now firmly behind us, the time is near when vacationers throughout the world will start to look forward to their next vacation. For the lucky ones, Christmas will be an opportunity to travel to holiday destination and whilst hotels may usually be the first option in people’s mind when thinking about a place to live when traveling, wise travelers have known about holiday apartments for a while now. This is particularly true if you are vacationing with your family and looking to get the best holiday deals.
Holiday apartments offer an ideal alternative to hotel accommodation on a whole range of different levels, be it size, price and other considerations. And whilst hotels usually boast room and other personalized services to their customers, vacation suites and apartments are now competing with that as well.
Private owners often use the holiday rental market to monetize a second or third home, and have traditionally used the services of a letting agency to find customers, take payment and sometimes even take over full management of the said properties.
In the past 15 years, large houses in European cities such London have been converted into apartments (flats) for the purpose of being rented to tourists and travelers on short term basis. These types of properties directly compete with hotels in that they provide a reception for check-ins and check-outs and varying degrees of concierge services.
Hotels, having realized the potential loss of revenue generated by the rental of holiday apartments have now begun to offer furnished hotel suites, which combine the amenities of a home with the services of a hotel. This option is perhaps the most costly of all three types of vacation apartment’s rentals.
If you are looking for more space in which to stretch your tired legs after a day’s walking through the streets of London or other cities throughout the world, apartments are an ideal alternative to hotels.
In addition to space, though, the savings are what make holiday apartments so worthy of your consideration for your next travel or vacation trip.

Financial woes are rife these days, and rent back could be the solution. If you have experienced one of the following situations, then a sale rent back deal could help you get back onto firm financial ground.
Suppose you own a house with a partner and you have a couple of children. Everything is going smoothly and then the relationship ends. One of you needs to move out, leaving the other to raise the children and manage the mortgage. The trouble is that the person left behind doesn’t earn enough, but you both agree that you want to keep the family home so that the children are secure. Rent back offers a way to do this.
Another common scenario where a property rent back scheme might be useful is where a person becomes ill and is unable to earn. That person gets into mortgage arrears and has other financial difficulties. A home rent back scheme could solve those worries in one simple transaction and put money back in your pocket.
Sell rent back is also useful where you are in serious financial difficulties. If you are in debt, have defaulted on a secured loan and have several months or mortgage arrears, then a home rent back scheme may be the only way to stage a financial recovery. After all, selling your home is better than having it repossessed and sold by a lender who may get just enough to repay the debt, leaving you with nothing.
So, how can you profit from a house rent back scheme? It’s easy. First, find a company that offers a home rent back deal. This is as simple as looking in the classified ads, checking out the yellow pages or searching on the internet. Book a time for them to come round and look at your house. The rent back company will value your home, looking at the true market value of the property. If your property is in good condition, then you’ll get a better valuation than if it needs significant work.
The next part of the rent back process is the offer. The property rent back company will offer you up to 85 per cent of the assessed value of your home as a cash sum. You could wait around and hope to sell your home for the full value, but the property market is fickle and there’s no guarantee that you could get a sale on the open market before your home is repossessed. Rent back offers you that guarantee. You normally get an offer within a couple of days of valuation. If you accept, the deal can be done in less than a month.
Most people don’t like others knowing that their home has been repossessed. With rent back, you can avoid this stigma, by selling your home first and arranging to rent it back from the company at a fair market rental. Normally, you sign a tenancy agreement for six or 12 months, but longer agreements are often available. No one need ever know that you have sold your house, and with some companies you may be able to buy it back when you get straight.
Once you’ve got the money from the sale, you can repay mortgage arrears, loan arrears and other debt to get the lenders off your back. Then you have money in the bank while your landlord is responsible for maintaining the property. That’s another advantage of rent back.