As another Rent to Rent practitioner disappears leaving hundreds of tenants and landlords devastated in his wake, we focus on where has this strategy come from and how does it affect those involved.
Many people across the UK for many years have had a huge interest in property, firstly wanting to buy a property for investment or to get additional cash flow, this created a lot of landlords which are traditionally private individuals, seeking ways to learn and develop by talking to other landlords, and therefore starting up property meets and landlord networking events around the UK.
In 2007, their properties crashed in value, while mortgages and BTL mortgages became harder to get, so many were stuck with negative equity or were over-leveraged, leaving a problem for those wanting to get into the property market and this became a much discussed topic at many property meets.
In the last few years however this has led to a very worrying practice which has spread across the country, namely Rent to Rent. I have had the pleasure of speaking to many of the practitioners' at events around the country and on social media too and this strategy I believe is the most damaging of them all, as each practitioner can potentially damage hundreds of people's lives in one go and some already have.