Be wary of sale and rent back
It has come to light that some bad operators in this market have been putting profits before being fair and honest. For most homeowners who have sold their property and want to rent it back their most pressing worry is the security of tenure. Many rent back companies give only Assured Short hold Tenancies.After the fixed term of the contract is up, the landord can ask the tenants to leave. But there are no other contracts that protect the rights of the landlord.This will leave the tenant vulnerable to eviction even if they wish to stay in the property. There is currenlty no way around this problem. companies who operate, usually forget to tell the tenants this minor detail..
Homeowners who are thinking of entering a sale and rent back scheme should be made aware of the dangers and talk it through with the person who is buying their property. By asking questions like how will my tenancy be secured you will get and idea of the people you are dealing with. Ethical sell and rent back operators can also provide references from people who have taken up the sell and rent back option.
A Company with good references and solid ethical standards is RentBack Direct.Contact them regarding rent back and you will not be dissapointed.
