renting out to a corporate firm: problems?

[bananacarnival]

Hello,

I'm wondering if anyone has any experience of renting out their property to a corporate firm. I have a small 1 bed flat close to the tube, and am trying to decide between a couple who would like the flat for a year, both in excellent jobs and this is the kind of tenants I normally have...versus a Canadian corporate company who are acting on behalf of their employee and are willing to pay £20 per week more than the couple.

I'm unfamiliar with corporate lets. Any problems I should be aware of? Im tempted by the extra £100 per month, but nervous about signing up with a company - one of their conditions is that I agree to a 4month +2 break clause, the agent is trying to push for 6 +2 for me.

The other thing is that I agreed to take the couple before this higher offer came through and it doesn't sit well with me morally. People around me are stressing I should just go for more money, but I feel bad about letting people down even I've not met them. Nothing has been signed yet.

Thank you

You need to be very clear on what the company expect . When we let our house one wanted everything supplied, new , down to knives and forks and I fear would have been niggly over the merest detail. Another put in sharers (contractors) who used it like bedsits, 5 in a 4 bed house as one slept in the dining room. The smell of takeaways lingered long after they left and there was condensation damage in the bathroom due to the number of showers and refusal to ventilate. If you prefer longer term tenants then the couple may be a better bet.

There is no real downside to the Corporate let if you get the break sorted. In fact most people are posted for 1 year to 3 years so it often ends up being a better investment let. I am just starting off as a relocation agent ie I am the person that helps the company find the employee a place. Most serious investment landlords (as opposed to an owner occupier style landlord) prefer a corporate.

Your moral dilemma is another story... If you have taken a deposit from the other couple then it may be a bit harsh otherwise don't worry too much.

Hmm. Thank you both, that's very helpful ...certainly something to consider.
The thought of them asking for things is off putting , so far they've just stated that it's subject to me fixing the grouting in the bathroom (perfectly reasonable ) and the awkward break clause..4 months just doesn't feel right.

On the other hand you shouldn't have issues over non-payment.

Yes that's true...thanks LIZS