BTL a Regulated tennancy

[gillybeanz]

Just wondered if anyone can point me in the right direction.

I have read what's available on Shelter and it only covers the tenant no info for buying one.

I would so love to buy one rather than a normal BTL and rake huge rental.
The regulated tenancy rents are lower and the vulnerable tenants are able to stay for the length of their lives.

Can you buy a normal btl property and rent it out at reasonable rates instead? And issue a longer AST?

Or look into whether you can issue an assured tenancy which is what councils and HA do. However I would proceed with caution. Once the tenant is in it would be very difficult to evict them. Plus it would make it very difficult to sell the property on.

If I won the lottery I would buy 10 properties and let them out on a not for profit basis with normal ASTs. So I wouldn't profit from the rent but would still retain some control over who lived in the property. So for instance if I had a 3 bed property I would let to a family who would maybe struggle to find a decent property to rent. But if that family went on to win the lottery or the family split and it was just a single person living there I would rather it went onto someone else struggling if you see what I mean.

I think the problem you will find is if you need to get a BTL mortgage, most of them require that you have an AST, and wouldn't allow a regulated tenant.

The way to rake in a huge rental is not a normal btl. You need an illegal HMO stuffed full of people, no insurance, certificates or maintenance.

That's crime.

To do it legally will reduce your profits considerably.

And yes, with a pre 1989 tenant it is cash purchase only.

Shelter amuse me sometimes. They say that regulated tenants can only be evicted with a court order. That applies to all tenants!

I feel very strongly for those people in vulnerable positions and the lower rents attracted by these properties and the life long tenancy are a bonus to me.
It saves having to find new tenants when existing ones give notice.
I wouldn't be looking at a mortgage as would be buying cheap, due to area.
I'm looking at pre 1989, before laws changed.
or, something to support a young person out of care

Thanks for the replies. It's something I really want to do, I have googled and started to research, but obviously anybody who has gone down this route who had experience to share would be appreciated

someone who has such a property (which is unsaleable to most people) would probably be delighted to hear from you. I don't know how you find such places but best of luck.