Sell and Rent Back – rent rebate

There is also something called the ‘rent rebate’ that is involved with then buying a property back. Basically its when some of the money from the rent that a tenant pays is given to the tenant, after their income has been assessed (annually) and they only pay the net amount. An extra add-on charge may be needed if there are others living with the tenant, who are not working and who are not studying. The tenant may have to sign AST (assured short-hold tenancy) , which means a lump sum is paid from the proceeds from the sale, and 12 months rent, so the tenant lives in it rent free for those 12 months.

Afterward you may be given the choice to buy back your property after the rental period. So next time think about sell and rent back.

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This entry was posted on Tuesday, January 4th, 2011 at 8:33 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.