Jon Simpson, a Stoke-on-Trent landlord, fixes rent for ten years. He helps tenants buy their homes.
Just four years later, the 32-year-old owns a company that manages nine homes around Stoke-on-Trent. Jon fixes rent for tenants for ten years, and they can then buy the house later, which makes him different.
The lease gives tenants the option to buy after a decade for a set price. The price is agreed at the contract’s start, and they must maintain the house in return.
This deal provides tenants with future stability. Rent is initially a bit more, but it stays the same for many years. It won’t increase over time, and he ensures this.
Jon owns nine houses in different areas, including Longton, Meir, and Blurton. He rents them to families through his firm, named after his two daughters.
Jon has three kids and lives in Longton. He puts a clause on the Land Registry, stating he can’t evict tenants except for unpaid rent, and he guarantees the purchase price too.
Stoke-on-Trent isn’t a very rich place, and many can’t afford higher rents. He keeps rent low over the years, allowing them to save and later buy their house or use the equity for a deposit.
Jon started after receiving a house from Edward Booth, a WW2 veteran grateful for Jon’s help at a store during lockdown. He transferred his son’s house valued at £30,000 to Jon.
Things weren’t always easy for Jon. He went to Samuel Leeds, a successful property expert worth about £20 million who left school at sixteen, for advice.
Jon used the equity from his gifted house and his own home’s equity to buy another property. Friends’ parents lent him money too, and he soon bought more property with investor finance.
Jon joined the Samuel Leeds Academy to study new strategies to grow his business. Samuel admires what Jon does for tenants and plans to do the same.
Samuel says tenants can now buy homes through Jon, calling it compassionate capitalism. Jon’s work inspired by Ted motivated him, and he will apply the method to ten of his properties.
