If there’s one thing any kind of business hates, it’s uncertainty – and there’s been an awful lot of that around for the last few years, what with the ongoing aftermath of Brexit, the pandemic and the war in Ukraine. That said, as we tiptoe nervously into 2023 we do have a degree of certainty. Trouble is that it’s the wrong kind of certainty – the certainty that the UK’s chronic shortage of social housing will continue unabated and that we’re facing a long and deep recession with double digit inflation…
To add insult to injury, many of us are facing – or have already faced – the end of our fixed rate mortgage deals. Back in September 2022, immediately after that notorious ‘mini budget’, deals below 5% vanished completely, leaving all of us at the mercy of variable and rapidly rising rates. The slightly better news is that rates are falling and there are plenty of two-year deals around 4.56% and as low as 3.99% on a 10-year deal.
That sounds pretty good compared to variable rates over 7% – but do you want to risk paying over the odds for several years if the rates keep falling? Tough decision isn’t it. Tougher still if you’re a private landlord who relies on tenants paying their rent promptly to service the mortgage. Especially since rising rates and general inflation are forcing landlords to pass on increased costs in the form of rent rises that their tenants can’t afford to pay.
So here’s one bit of the right kind of certainty: Abel Living’s Guaranteed Rent for Landlords scheme! By simply adding your property or properties to our social housing pool you secure a guaranteed rent for up to 5 years. And we pay it every month without fail even when your property’s vacant or the tenant falls into arrears. Better still, when you hand over the keys, you also hand over to us all the headaches that come with property rentals. We handle all the viewings, tenant liaison, maintenance and repairs and conduct regular inspections to make sure your property’s being properly cared for. Finally, the icing on the cake is the knowledge that you’re making a significant contribution to easing the social housing shortage.
It’s great for your finances, great for the tenants and great for your peace of mind. And if you time your agreement to coincide with the start of, say, a 5-year fixed rate mortgage deal you’ve got a rock solid cashflow you can count on for the full five years. Now that really is the right kind of certainty!