What is a Rent Back?
Rent Back is where you have the option to sell your property quickly and then stay put and rent it back at
the current market rate or less.
The way it works is simple: we (Devon Cornwall Property) buy your property and then rent it back to you.
Once the sale is completed the only legal agreement between us, as landlords, and you as the tenant, is
something called an Assured Shorthold Tenancy. This agreement is the standard document between any landlord
and tenant. Among other things it sets the rent and spells out what's expected of the landlord and what's
expected of the tenant.
The Assured Shorthold Tenancy
It's usually either 6 or 12 months in length. The period of the AST is largely irrelevant because
at any stage you can give notice of 2 months. Similarly we can give you 2 months notice. Your security
is based around the fact that we are long-term property investors - we have no interest in buying your
home and then selling it on. Remember, the majority of AST agreements are terminated by tenants, not
by landlords!
Our Expectations Of You, The Tenant
It's simple. You pay the rent on time and look after the property. You care for the property and its fixtures, fittings
and furniture in tenant-like manner. Things like keeping the building secure when unoccupied and locking doors and windows.
We leave you alone to enjoy your life and your home.
Your Expectations Of Us, The Landlord
We look after the home you live in and make sure you are safe. We are legally bound to ensure that all of our tenanted
properties are up to a lettable standard and we take this very seriously. All our properties undergo electrical and gas
safety checks. As landlords we are responsible for the structure and exterior of the property. We are also responsible
for the condition any internal installations for water, gas, electrical services, sanitation, heating and hot water. This
means that you never have to worry about unexpected and costly repair bills!