Earlier this month Brent Council gave the green light to invest in new homes. They will now buy several private sector properties and move them into their portfolio of social housing. It will ensure they can provide more stable homes for local families currently living in hotels or B&B accommodation. We want to have a closer look at the agreement here, then if you invest and want guaranteed rent in Brent, we’ve got the services for you.

Housing crisis and difficult conditions

Like much of London, there is a housing crisis in Brent. In the city as a whole, stats say 1 in 50 people had to rely on temporary accommodation in 2023. Brent’s Council says on a weekly basis around 150 families are declaring as homeless. With a shortage of available social housing, the only option is hotels or B&Bs. However, the lack of stability has a big impact, especially on children.

The situation is also difficult in London because construction itself is slow. Brent Council is aiming for 5,000 new affordable homes to be built in the area by 2028. Of those, 1,700 will be council housing. However, developments are struggling due to costs and regulations. The Council even had to pause their social housing programme in July.

Acquisitions

Brent’s Council has given approval for the new acquisitions. They will spend £11.7m to purchase 15 homes. Part of the funding will come from a GLA grant (£1.8m). The remainder will come from borrowing. The borough is a great spot for homes, so there is plenty to look at for investors. You can then come to us for guaranteed rent in Brent if you want stable income.

The investment will include £10.4m to actually purchase the properties. There will then be £750,000 to cover the cost of refurbishments. Finally, over £550,000 will pay for staffing and contingencies.

The estimate is the acquisition will save the council a huge amount on spending on temporary accommodation. It could be as much as £15,000 per property each year. However, there is a caveat here. The agreement could become more costly if it doesn’t complete before the end of March 2026. Plus, if it takes longer to refurbish the properties and get people moved in, the cost increases.

The Council said the move is allowing them to “confront the housing crisis head on”. More importantly, acquiring the properties allows them to support vulnerable families with “dignity and respect”.

Speak to us and learn about guaranteed rent in Brent

Tackling the housing crisis in London is a huge job. There needs to be more supply, including social housing. At the same time, investors have a role to play in the private rental sector. There is another thing to think about too; guaranteed rent. Many councils have schemes for property owners. They involve agreements to let them use the homes for council tenants. In return, you get a payment every month without any kind of breaks or interruptions. In terms of financial planning, it is a really good option.

As you can see, there are great opportunities for investors. If you want to try guaranteed rent in Brent, we’d be happy to help. We have relationships with councils all over London, making us one of the most reliable specialists. You can come to us for information, help with preparing properties, and a fast turnaround when agreeing to start a scheme.

So, get in touch today if you want great services. We’re incredibly flexible, able to work with various types of residential properties in different areas. Plus, we can adapt to all kinds of strategies.