February 10, 2009
Sale and rent back
Story link: Sale and rent back
Sale and rent back property companies have been taking the public and many home owners for a ride for far to long, sometimes dealing on properties where they know the tenant will be worse off.
It is good to see that the Office of Fair Trading (OFT) has stepped in.
The Office of Fair Trading (OFT) has issued formal notices to 16 sale and rent back firms asking them to substantiate claims they make in their adverts.
Sale and rent back firms buy homes from individuals, usually at a significant discount, and then rent them back to the previous owners.