Does anyone know the rules regarding letting "right to buys"?
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From: Stroke it baby!
Does anyone know the rules regarding letting "right to buys"?
A family member is considering buying their flat under the right to buy scheme. We cannot find any information regarding letting in out, and if there is any set times you have to wait before doing so.
If anyone has any experience they could share that would be great .
If anyone has any experience they could share that would be great .
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From: Runway two seven right.
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http://www.direct.gov.uk/en/HomeAndC...mes/DG_4001398
think you'll find this helps.
rules have changed a lot and it matters if she is a council tenant, versus a housing association tenant. most council housing doesn't exist anymore, its owned by housing associations.
quick example- people used to be able to buy them for pence and profit from them (disgusting in my opinion)
however discounts are massively reduced: i.e
Right to Acquire discounts
Discounts range from £9,000 to £16,000 - depending where you live
You can get a discount on the price of your property from £9,000 to £16,000. The amount of discount you will get depends on where you live.
If you have previously had a discount to help you buy a public sector home, this may be taken off your Right to Acquire discount.
what you also have to question is ongoing service and maintainance charges on a flat.
if its in a block you'll still be paying leaseholder charges for roof repair, communal repair, grounds maintainance etc.
many many people get unstuck, because the landlord decides to do some block repairs and surprise surprise the landlord wants their share of the cost from the homeowner.
imagine the costs in a tower block for example.
probably worth doing in London: but elsewhere- check the local paper and actually see if any of theses flats are even selling.
you have to suss out why people would want to buy it, if you can rent one for free from the landlord and have low rents and repairs done 24/7 for free ?
i.e it'd have to be seriously special. also caps now to be set on local housing allowance so there is a max amount you can get back in on rent (if yr tenant is on HB) which if its a council/RSL flat: lets face it, yr tenant will be on benefit- trust me, not many social housing tenants pay anything.
think you'll find this helps.
rules have changed a lot and it matters if she is a council tenant, versus a housing association tenant. most council housing doesn't exist anymore, its owned by housing associations.
quick example- people used to be able to buy them for pence and profit from them (disgusting in my opinion)
however discounts are massively reduced: i.e
Right to Acquire discounts
Discounts range from £9,000 to £16,000 - depending where you live
You can get a discount on the price of your property from £9,000 to £16,000. The amount of discount you will get depends on where you live.
If you have previously had a discount to help you buy a public sector home, this may be taken off your Right to Acquire discount.
what you also have to question is ongoing service and maintainance charges on a flat.
if its in a block you'll still be paying leaseholder charges for roof repair, communal repair, grounds maintainance etc.
many many people get unstuck, because the landlord decides to do some block repairs and surprise surprise the landlord wants their share of the cost from the homeowner.
imagine the costs in a tower block for example.
probably worth doing in London: but elsewhere- check the local paper and actually see if any of theses flats are even selling.
you have to suss out why people would want to buy it, if you can rent one for free from the landlord and have low rents and repairs done 24/7 for free ?
i.e it'd have to be seriously special. also caps now to be set on local housing allowance so there is a max amount you can get back in on rent (if yr tenant is on HB) which if its a council/RSL flat: lets face it, yr tenant will be on benefit- trust me, not many social housing tenants pay anything.
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