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Natasha Collins

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Everything posted by Natasha Collins

  1. Hi Jamie, I keep an eye on how the market is moving in the local area. I look at comparables which are very similar (ideally same building / same street / same size / same condition). I do it regularly, whenever I inspect my properties I do a quick scout about of whats for sale around the property and then note it down and do some research on those properties later. I also keep an eye on the asking rents for surrounding properties as well, because you will only be able to remortgage so far as your rental income allows. I always make notes of comparable evidence, dates, and try and verify the evidence as well, I think that's the surveyor in me, but it's always super useful when getting a re-mortgage as I can use this as leverage as well when speaking to the lender and their surveyor. It also means I know what to expect. Natasha
  2. Hi Anthony, Another good thing to insure for is alternative accommodation cover in case your tenant can't live in the property after some catastrophic event. I've only ever had it happen once, in the hundreds of properties I've managed, but it's invaluable. The property was in Chelsea, SW3 and over Christmas there was a flood. Without a lot of hassle from our insurers they allowed us to get the tenant into a hotel across the road and it gave us time to properly dry the flat out and get it redecorated. The tenant ended up being in the hotel for 10 days. Everything was claimable and my client only paid the £350 excess and no rental income was lost. As it was a block policy it didn't have too much of a knock on effect on the renewal (comparably to the cost of the flood). This particular policy was looked after by Locktons insurance broker and I think was with Aviva. Natasha
  3. Hi All, I'm looking to buy commercial / mixed use properties in London and Bath (I'm not looking for warehouses / sheds / industrial). Happy to pay finders fees and am ready to go ASAP. Don't need planning permission for change of use as a commercial portfolio is what I'm after! But residential above or attached, always works. I'd really love a development or do-up. Vacant possession or tenant in situ is fine (as long as there are lease details). Thanks, Natasha
  4. Hi Patrick, Check out UPad, they do this all for you and you can do viewings and then manage it thereafter! NC
  5. Hey All, As a general over view of what I've seen on the market over the past week (I am a chartered surveyor in West End London and deal with commercial and then run my own residential investment business). In terms of rent reviews and lease renewals on commercial property I've had no difference, other surveyors aren't trying to chip away at rents and as far as I can tell it's business as usual - the rents on a £/sq ft or £/ZA might not grow as quickly but to be honest it's not a great idea for it to keep growing, with the VOA re-rating for business rates at the moment a stabilising of rents could help everyone out. On the agency side commercial take up for offices and retail is strong for local businesses - I have been told by other surveyors that overseas companies have been pulling out of taking space, which was to be expected because they don't know what's going to happen for them. But the investment market has stalled (prime London), especially overseas clients wondering what this will mean to them. I don't know if it will be this way long term, but certainly for the next 3-6 months large deals may not go through. In my own business (I don't invest in London anymore I am investing in the North and South West) I have had an offer on the table for a property I'm going to buy - it's a good 25% BMV. I was going to buy it on bridging and re-mortgage, but actually I will just put it on a mortgage now and wait and see what happens. I don't mind buying property now if it is a good deal! I don't think it's all doom and gloom out there and definitely not time to panick - I think the overseas investors and companies don't know what's going to happen so they have put the brakes on, but it doesn't mean they won't come back. The next 3-6 months will be a great indicator of what's going on in London. Natasha
  6. Hi Silvina, I have brought two flats with an under lease and actively manage a couple of blocks whereby I act for the head leaseholder and there are under leases below and a freehold above. In general this structure works fine, although there have been some times when it is frustratingly difficult to track down the freeholder to get permission, but that is for the head leasee to deal with (in most cases). In this case I would get really familiar with what both the lease and the head lease states in regards to getting consent for alterations (you solicitor should do this for you, but it is worth you having a read too). In most cases consent cannot be unreasonably withheld providing that it is not affecting the structure or any other part of the building i.e. you are only doing works on your flat. However the head lessee / freeholder might put some requirements on the consent such as getting building control sign off / the type of contractor you use / they might require you to pay for any fees associated with granting consent, such as legal and building surveyor fees and I have seen some cases where the freeholder will demand a fee for you doing the works and adding value to the property. I have assumed for the above that you will be buying the loft space as part of the flat? I would also check out how the service charge % is split - if the loft space is currently unused chances are they haven't included it within the service charge %, if you were to start using it, it becomes classed as usable space which could mean that your head leaseholder wants to re-measure to change %'s. (Please note that usable space is anything with a head height over 1.5m). Just bare this in mind because it could come up! Everything above is very much overcomable but you need to know what they will require when buying the lease. So get your solicitor to ask as part of the sale process, then budget for it as part of the renovation costs and see if the figures still stack up for you! I hope that helps, Natasha
  7. Hi Sheree, I can help you out with London, I have really great contractors under my sub team at NC Real Estate - if you email shaun@ncrealestate.co.uk he will be able to help you out with London. You can check us out at www.ncrealestate.co.uk Hope that helps, Natasha
  8. Hi Everyone, I am looking to invest in northern cities such as Liverpool, Leeds, Manchester and Newcastle. Although I understand that most people work in yields (and I do to for the most part), I am looking to buy a property which makes circa £500 profit after expenses per month. I would love some help from those already knowledgeable in the North to reach that goal. I already invest in the South and have a few properties in London and in Bath. I am a chartered surveyor by trade and specialise in both residential and commercial lease advisory. I am also always approached by other investors wanting to sell their property, so if you are looking for anything in London then please let me know. I also run a maintenance and building company with my business partner who operates inside the M25 - so any building, renovation, handyman services ect please get in contact as I can help out with that! Natasha
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