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Please Be careful of sell and rent back cowboys

sell and rent back house companies are at last under the media spotlight, after years. We have seen a flurry of activity in the press focusing on landlords who look to buy house's and rent them back to the owners.

It has come to light that some bad operators in this market have been putting profits before being fair and honest. For most people who have sold their home and want to rent it back their most pressing concern is the security of tenure. Many sell and rent back house companies offer 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 few 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..

Sale and Rent Back schemes do offer an important service to those people who want to release equity, escape repossession, or sell quickly to emigrate or move. Rogue operators could just get the tenants out and sell on for a fast profit. Most Sell and rent back operators take a longer view and do not intend to sell. For these operators having a tenant who treat the house like they did when they owned who intends to stay for a long time is ideal. These landlords see their properties as an asset that will grow in value over the long term and as such are happy to commit to tenants who wish to stay.

People who are looking at a sell and rent back scheme should be aware of the pitfalls and talk it through with the person who is buying their property. Homeowners should ask for references from previous clients who have sold and rented back their homes.

A Company with good references and solid ethical standards is RentBack Direct.Contact them regarding sell and rent back house and you will not be dissapointed.

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