Are you afraid of renting your property to DSS tenants? If so then forget the time when DSS tenants were regarded as suspects who can harm your property. Before going further to explain the reason behind the changed perception, it is important to understand who the DSS tenants actually are? DSS tenants are those people who fall in the need of urgent homes like a single mother or a homeless person.
There are some approved letting agents that will accept people on DSS. They have a direct working relationship with the councils to make property available for the needy person. A time period has been prescribed for the tenancy and that is not more than a year. During the tenancy period, if any problem related to renting place brings up then the matter will directly go to the council through the letting agents. The landlords will get an assurance that the rental monthly payments will be given to him without any delay.
The process of DSS tenant is somewhat different from the private rental. If the tenant satisfies with the rental property, then a Pre Tenancy Determination form will be filled by him that includes some details like the rental value, number of rooms etc. After filling up the details, the form will be forwarded to the council officer. Once the form has been accepted, the actual tenancy agreement will be made.
Now the landlords may have changed their negativity towards the DSS tenants.
I have recently let my property for guaranteed rent at 10% above what every other agents is quoting at the moment for my area.The catch is that the property is let to DWP ( Department for Works and Pension) tenant - formally (DSS)Department of Social Security).
The agent has a constant stream of DWP tenants and is very familiar with this type of tenant. I am more than prepared to let him have the excess from the rent if he is prepared to guarantee that he will pay me each and every month other wise he pays me a penalty. This way I dont have to check that the tenant has filled in the right forms before i get my money I just have to deal with the agent
This is not the normal deal you would get from an agent but it is definately win! win!
The agent operates in a particular part of the London area so the deal may not work every where but if you are interested drop me a comment and I can pass on your details.
Be aware there are thing to be conscious of when working with DSS which are highlighted in Landlords Journal downloadable forms