We get approached fairly regularly by care providers who have a supported living scheme set up and running well and then the landlord tells them they want to break the lease and sell the property.
This can be very stressful for the care provider if the tenant or group of tenants are settled into the property and they do not want the disruption of moving them. A lot of work may have gone into getting the property ready, and finding it in the first place, causing a huge amount of time wasted for the provider. On top of this they may be concerned about being able to find a new home at short notice.
A property with supported living tenants in situ is very appealing to our investor members so in this situation we may be able to help you by finding an investor to buy the property. This would mean the new landlord would take over the property with the tenants in place with no disruption to them, enabling you to keep providing support without having to find a new property.
Our new Buy to Order service allows care and housing providers to list property details and see if we can find another investor to buy the property. If you can do this before it is listed on the open market it will increase your chances of success. This service is free for care providers and would allow the tenants to stay in the same property without any disruption.
If you are in this situation, here are the steps to take:
Access to our supported living property portal is free for care and housing providers. Browse properties available to lease or list your property request through Buy to Order by signing up here.
At our recent networking event, experts in developing and managing supported living properties shared invaluable insights.
Read the article >
Investing in homes for children in care is unique and different from regular property investing. It is highly regulated, and you have to go through a lot of hoops, but it can also be very rewarding if done properly.
Read the article >
Liverpool City Council is looking to the private rented sector (PRS) to alleviate the cost of temporary accommodation to support families facing homelessness which has risen by an incredible 10,000% in five years. This dramatic increase demonstrates that the demand for property, not just in Liverpool but across the UK, has reached a crisis point.
Read the article >
When entering a supported living arrangement, just like any other business relationship, we strongly recommend that thorough due diligence is essential for both care providers assessing landlords and landlords assessing providers and any other third parties that may be involved such as Housing Associations.
Read the article >