Elliot Leigh – an agency that is the largest guaranteed rent provider in London and Essex – has completed phase one of a new 22 self-contained unit HMO in Harrow, North London.
On behalf of a corporate landlord, Elliot Leigh has brokered a bespoke deal for a local authority which has block-booked the whole building on a long-term basis providing social housing in the local area.
All rooms at Spencer Lodge, which was previously a guest house before its renovation, are finished twith en suites and kitchenettes, alongside larger communal kitchens on each floor.
Leigh Young, director and co-founder, says: “What that means for the landlord is he now has guaranteed rent for all of the rooms long term, with market rent.
“As part of the Guaranteed Rent scheme, the landlord mitigates the risk of void periods, eradicates the administrative burden of compliance that comes with HMO properties, as well as maintenance and repairs or eviction worries. As per a request, we’ve also managed to book a 24-hour caretaker to ensure we are looking after the landlord, tenant and the property’s overall needs.”
Elliot Leigh has helped more than 50,000 tenants in the social housing sector, providing properties to local authorities, but says the demand has never been higher than it is now.
“We know that the quality and stock of social housing has diminished throughout the UK and we’re working with landlords to provide Guaranteed Rent solutions which will encourage them to support this vital sector in the housing market.
“In addition, it gives tenants the long-term security and decent living standard which so many are struggling to find in the competitive rental market we are experiencing today” adds Young.