More Potential Second-Timers Turning to Let-to-Let Housing Practices, Sell House Fast
Published on January 29, 2012 | Author: Harish
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The Association of Residential Letting Agents or ARLA says approximately 39% of its members are reporting that hard to sell properties are now being transferred from the “for sale” market to the “rent” market. This is due to the frustration their owners are feeling, and their need to start earning from the property. The trend is referred to as let-to-let, and it has risen noticeably in the past weeks. Let-to-let refers to the decision to rent out one’s home, while renting a someone else’s property to live in.
So far, people needing to downsize or those needing a bigger home are moving towards this option. However, it easily cuts into 40% of the amount being earned from their property, and increases the responsibility that these homeowners have, unless they hire an agent. Additionally, the type of home you have may not allow for it unless you are willing to live somewhere that is significantly cheaper.
For these reasons, becoming a let-to-letter is not feasible for everyone hence, the problem of finding property buyers is still a huge one. Additionally, let-to-let works for these who simply need to move house, although some people are able to make a profit from it. Those who need to sell in order to get a large amount of cash do not have that option.
In fact, becoming a let-to-letter is clearly not the right choice for you if you need cash now. Especially since you will still have your mortgage to pay, plus a new rent amount. If the money you will make from your own property is not enough to cover both, this means that you will still be in a financial pinch. Furthermore, the money you make from rent is unlikely to cover two houses, mortgage arrears, and all other bills.
Make A Quick Property Sale and Get Cash Fast
Call Quick Cash for Properties at 0800 6528 396 and take the first step to selling that hard to sell property today. With over 40 years in the business, we understand that holding on to your property is not always possible, and that finding one month’s rent along with a six-week deposit after waiting for months on the market can be daunting for some. Plus, what if your property sits idle? Can you pay both a mortgage and a rent until you find a new tenant?
Let-to-let sounds attractive, but we know it is not for everyone. Call us today if you need to sell house fast, we respect your privacy, and can get you money in just four to eight weeks. Selling a house has never been easier, call now.