Sell and rent back - how we can help
Release equity and rent back
We tailor the sell and rent back service to suit your needs, providing you with
a short-term rental, or long-term solution if you prefer. By doing this you can
sell without needing to move home, and can free up money for other purposes, whilst
paying a standard market rent for your house.
Buy back when your situation improves
If you are experiencing short-term difficulties, you can sell and rent back your
home, and also retain the option to buy-back. When you sell the house we'll agree
a fair price that you can buy the house back from us at, in the future. That way
you can stay in your house and free money tied up in it, and retain the right to
buy it back when your situation improves.
Solve problems with a quick sale
We offer a service that can work as fast as you need it to. If you need to sell
and rent back very quickly (for example a pressing need for funds or to halt repossession)
we can tailor the service to your timescales. If you need it, we can provide funds
in less than seven days.
We pay the fees
A Quick Sale doesn't charge any fees for valuation, or for buying your house, and
we even pay your legal fees (up to £500). This means you don't need to make any
payments to us at all to make use of our services.
Managing Agents
Some of our associates use what is called a Managing or Letting Agent to manage
their properties. Their responsibilities vary from just rent collection to full
management.
Your new landlord will advise you of their managing agent if they use one. Usually
when you have an emergency, problem or question you will call the managing agent
first and they will contact the landlord.
If your landlord chooses to manage the property themselves then they should provide
you with their contact details. It's always useful to ask them for details of plumbers
and other trades people too. If you have an emergency it can be a nightmare trying
to get a good tradesperson. Your landlord will have experience of many and usually
knows the good ones from the bad.
The Tenancy Agreement
By law you must be issued with a tenancy agreement.
If you only wish to remain in the property for a short period – say 6 months –
then an Assured Shorthold Tenancy for this period will normally suffice.
However, if you wish to stay as a long term tenant it is important that you discuss this
with our local associate, as we may be able to offer a longer term tenancy commitment
if that’s what you need.
You need to be aware that all tenancies will be subject to you meeting the terms of the agreement.
In particular, should you default on rental payments you will be in breach of the tenancy.
Regardless of the length of the tenancy you will retain the flexibility to terminate the tenancy
at any time, should you wish. This is important because although you might initially intend to rent
for a long period, your circumstances could change.
The Inventory
Your landlord or their managing agent will want to complete an inventory upon completion
of the purchase. This is a complete list of the fixtures and fittings that now belong
to the landlord plus comments regarding the condition of the items and the property.
It is important that you see a copy of the Inventory and only sign it when you are
happy with it.
Unless agreed otherwise the landlord will now usually own the items that are 'fixed'
such as fires, fireplaces, radiators or heaters, fitted wardrobes, carpets, kitchen
and bathroom units, suites and fittings, etc. Your items will usually consist of
anything moveable that you could take with you if you leave such as sofas, tables
and chairs, non-fitted wardrobes, curtains, cabinets, beds, etc.
We appreciate that some properties may not be in tip-top condition; this is fine.
In the event you do decide to leave the landlord will only expect the property to
be returned to them in the same condition as it was when he completed the purchase.
If it is worse they may ask you to contribute towards the cost of repairs or maintenance.
Conversely, if you have made improvements to the property the landlord may be willing
to discuss payment for these. The best thing is to talk to them in the event you
decide to leave.
Utilities
You are usually responsible for any utility supplies to the property, unless otherwise
informed by your landlord. Usually you need make no changes as your name will be
on the records for your utilities anyway.
It is also advisable to take meter readings when the property completes; your landlord
or their Managing Agent will usually do this and provide you with a copy that you
are both in agreement with.
If you are on a card meter then this can continue as normal too.
Council Tax
It is the occupier of the property, not the owner, who is responsible for the payment
of Council Tax. Normally this simply means you will continue as you are.
In the event you are seeking housing or other benefit payments you may need to inform
your local council of this as it could affect your council tax.
Housing and Other Benefits
In the event you will be seeking housing benefit it is important you discuss this
with your local Area Manager BEFORE you complete on the sale of your property.
The payment of housing benefits varies widely from council to council. Some councils
will not allow you to claim Housing Benefit if you have sold your own home and are
choosing to rent it back.
If you received a cash lump sum on the sale this could also affect the amount of
benefits you receive.
Your Area Manager can help you discuss this with the appropriate persons and ensure
that you do not make the wrong decision by selling.
Insurance
Upon exchange or completion your landlord will arrange and take over payments of
buildings insurance. They require a different type of insurance to that of a homeowner
so they will arrange their own cover.
You will still be required to protect your belongings with contents insurance. It
is wise to call your current insurer and ask if your contents insurance covers you
as a tenant rather than an owner as some do not.
Keys
It is important that your landlord and/or their managing agent have a full set of
keys for the property.
Please note that they will never enter your property without your permission unless
in an emergency or in the event you are vacating.
It would be useful, if, prior to completion, you could obtain a complete set of
all of your keys, copies are fine but please do check they work first!
Retain the receipt for the copies and your new landlord will reimburse your costs.
Contact your landlord when you have them available and they will come and collect
them - please do not post them.
Responsibilities
Your biggest responsibility is to keep up your rental payments.
If you think there may be a delay you must contact the landlord or their managing
agent as soon as possible when they may be able to help.
A refusal to acknowledge the problem, deal with it or pay back owed rent will usually
result in them starting repossession proceedings with the court. Your landlord may
have helped you out of this situation once already; they will not want to do it
again.
Your landlord is required by law to provide you with decent accommodation, heating,
light and cooking facilities. Clearly people have differing views on what all of
these are. But essentially as long as you are comfortable living where you are,
and you probably are as it was your former home, then that should suffice.
Landlords are required by law to ensure that the property's gas appliances are maintained
properly and as such are required to obtain a gas certificate every year on any
rental properties that have gas appliances - these include boilers, fires and cookers.
Your landlord or their managing agent should contact you before completing on the
purchase to arrange a gas certificate and inspection. This should be in place before
you become a tenant and you should receive your own copy of the certificate.
Your landlord will usually take care of any major work on the property such as roof
repairs, electrics, plumbing etc. and expect you to look after the property with
general day to day care and maintenance such as cleaning of the property inside
and out and reporting of any damage or faults with the property so that they do
not get worse.
If you wish to improve the property such as a new kitchen, bathroom, decorating,
garden works etc then the landlord is usually more than happy for you to do this.
It's always best to check with them first though; if nothing else they usually have
good trade contacts and may be able to get these done for you much quicker and cheaper!
The long and short is most landlords will be happy for you to continue treating
the property in exactly the same way as when you owned it. If you take care of the
maintenance and repairs they are usually more than happy to be flexible with improvements,
decorating, etc.
To find out more about we work with you, the benefits and the A Quick Sale process,
see How it works.
A big thank you for all your efforts in providing us with the solution to our problems! The whole matter was handled most professionally and the service given by all involved, especially yourself, has been nothing short of first class. We just cannot thank you enough and would have no hesitation whatsoever in recommending A Quick Sale to friends and family. It just goes to show that the old fashioned 'Personal Touch' and a bit of trust still goes a long way!!
LP & RG, Rayleigh
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