How renters are earning an extra £1,500 a month

Rent to rent

Rent to Rent is a way people can earn an extra income each month (Image: GETTY)

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Abi Oniru is a property investor and property coach who helped her student earn £1,500 in a month on a property she just started managing. During an exclusive interview with Express.co.uk, she said: “It doesn’t matter where you are financially, you don’t have to have a lot of capital to get into this. You just have to know where to look.

“I teach people how to get no money down deals.

“The whole point of that is I’m negotiating with the landlord to manage their property. I show them that I can get things done and pay them the money the following month.

“As long as your prices are right, you will get tenants.”

‘Rent to Rent’ is a scheme which allows people to become property managers of a landlord’s property.

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You can take on the property for up to five years and potentially be able to renew this contract.

What people essentially do is take on the landlord’s guaranteed rent and sublet the property to tenants.

Ms Oniru explained: “Let’s say in Birmingham there’s a four-bedroom property that is £1,200 per month, you will let out each room for £500.

“That’s £2,000 revenue, meaning you’re left with £800 profit for yourself, depending on if you include bills within your price.”

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Ms Oniru teaches people how to build capital and earn money in property despite not being a homeowner.

It’s important for each person to do their due diligence when researching properties.

As a property manager, people should know the average rent price in the area and price their own rooms accordingly to ensure they get tenants.

Ms Oniru continued: “You’ll go to the landlord stating this is what I’m willing to provide you and hope that they accept.

increase income

You can build extra cash flow monthly in rent to rent without experience (Image: GETTY)

“From there you list the property on the market and get your tenants in.

“That’s how you’re building extra cash flow monthly.

“I teach my students, ‘You can have zero experience, it’s all about confidence.’

“You just need to pitch it well and speak to them properly.

“They don’t need to know it’s your first deal.”

Ms Oniru teaches various services in which she gives her students all her tips and tricks on securing their first deal.

For some, being a property manager provides an extra source of income.

Ms Oniru added: “As long as you’re organised it doesn’t need to take up too much of your time.”

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