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NottsChallisJ

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Everything posted by NottsChallisJ

  1. This is really getting serious now and we need to work together to find ways to help each other through this crisis. People need to get educated and we as investors and landlords can help support that education process. I am hosting an emergency webinar on Sunday night so that we can pool ideas and come together as a community to support our tenants and our businesses. Please support and bring your positive ideas for proactive change. We cannot stand idly by and expect someone else to help us. We are all part of the solution now. I hope it is OK to post here? Here are details of my FREE event: FLASH EVENT This Sunday evening EPC assessor in attendance! We are in the middle of the biggest cost of living crisis any of us have seen in living memory. Our tenants are our customers and they are under attack. Whether you run HMOs, SAs, R2R, refurbs, students, professionals or simply have a single family B2L rental join us to share and plan. How can we help? What changes are in our control How can we help prevent tenants falling into arrears? This will be a positive session designed to help us all help others. Bring your ideas and creative energy as we move into these uncertain times. We need to change, we need to act and we will grow and be stronger as we do so. Free tickets from: https://www.eventbrite.co.uk/e/npc-emergency-energy-crisis-choices-and-helping-each-other-tickets-408644756467
  2. Looking to take over the management of a 5 bed HMO in Nottingham. Each room is ensuite and the property is large with a very large energy consumption (electricity and gas). Unfortunately at present I have not been able to get readings for a reasonable time period to be able to work out the consumption in kWh over the last 12 months. Anyone have any fair usage clauses that are safe to add to an AST. Speaking with NRLA they are working on some standard wording for a fair usage clause but did not want to be drawn any further at this stage (does not help me now I am afraid). I would welcome if anyone can share what they have been doing with their professional tenants in order to ensure that there is some element of responsibility in their use of resources particularly Electricity and Gas. IMHO we cannot go on with a situation where tenants are allowed to ignore their part in the consumption of their home and their role in reducing their consumption both to reduce their costs (even if wrapped in an all inclusive rent) and help reduce the Carbon impact of their home on the environment. I look forward to receiving the benefit of your experience and sharing our knowledge and approaches on this great forum. TIA
  3. Completely agree with Julie on this but just to add a few bits: - My tenants don't seem to mind giving a reading every quarter. I just ask for it by SMS and they generally respond within 48hrs. They are benefiting from lower elec bills after all. - If you miss a reading they will just carry it forward to the next quarter so for the small amounts of money involved you could just decide to only read and submit every 6 months and ignore the other 2 requests per year. - The income from FIT is tax free so another benefit to you and no further admin required! Not sure if you have already arranged the transfer of the FIT plan into your name but I believe that the seller needs to notify the FIT provider that you are the new holder from Completion. They will then be in touch for you to setup an account. The FIT service does vary from one provider to another and you are allowed to move it to a different provider if you want. I use E.ON since they have an online portal and pay promptly by BACS with good paper statements and respond by email/phone when needed. I believe at one point some suppliers used to pay by cheque up to 4 weeks later! Be aware that a FIT provider may also want to inspect the solar meter and do their own readings every 2 years or so but this can be a bit hit and miss. Hope this helps.
  4. Some lenders allow you to hold a mortgage offer for 6 months and you can redeem it fairly quickly upon request in case that helps? Just thinking you could get a mortgage offer for an unencumbered on the shelf and only use it when needed. Nice problem to have of course!
  5. I would want to understand why they want to pay 12 months rent in advance. It can be a way to remove the chance of further contact. Perhaps their income is intermittent or unreliable.? Perhaps they have a lump sum now but unreliable income so I would then be concerned what happens after the first year. You need to be confident that their income will support the rent going forward and not just in the first 12 months. Once I was sure it was affordable based on their repeat income, I would personally refuse it and encourage them to demonstrate what good tenants they are by setting by a monthly standing order that always works. Just my 2 cents but I am seeing a lot of tenants with a pot of money offering this but actually their income is not sufficient to make the house affordable in the long term.
  6. Hi Leanne I source family B2Ls in North Nottingham on behalf of remote investors. Lots more details on my website BespokeNPS.co.uk Please get in touch if you think I can help further. I also run a free monthly networking event that can be seen on Eventbrite (details below). Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  7. And we have a free Nottingham networking group that includes investor in Grantham! Search Eventbrite for "Nottingham Property Circle" for details. We meet monthly (online). Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  8. Depends a lot on what they are doing but in my experience they are about double the equivalent rates in Nottingham!
  9. So Cass do you want to give us an update on your plans in case those of us already investing in Nottingham can help further?
  10. Feel free to come back to me if you want to invest in Nottingham or want support developing your strategy. I live, work and invest in Nottingham and support remote investors in doing the same. Regards Jonathan
  11. Hi James Glad to hear that you are interested in Nottingham for your first investment. I live, work and invest in Nottingham and support remote investors who want to get started here. We also have a free online monthly networking event available from eventbrite if that would be of interest. If I can help further please get in touch. Regards Jonathan
  12. Sorry to hear that the relationship has got this bad and put you under so much pressure. Sounds like you are finding the right balance to be safe and keep your property secure. I hope he leaves you alone.
  13. There are lots of agents in Nottingham offering both services. In my experience it pays to choose one that is really local to your area so they have a better handle on what is going on in it. Small and independent often helps too rather than the big chains who often have lost the concept of what their service should even be about.
  14. Sounds like a really difficult situation and I am sure I am not the only one that feels for you. How have things developed since you posted so we can see if we can support further?
  15. I live and work in Nottingham and run a Property Networking Group. If people want to discuss Nottingham investment more generally and specific areas / considerations in particular then this is the place. Lots of investors who have active portfolios (and opinions!) come to our regular monthly meetup as well as supporting our wider community throughout the month. I actively invest (for Yield mostly) in Nottingham for myself and on behalf of others. Happy to chat on the phone to bounce ideas around. The biggest challenge with Nottingham is the sheer variety of opportunity and lots of strong fundamentals to go round. A great City but not easy to narrow down your search radius. Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  16. I give each property a unique code or reference that only I know (I keep a backup log elsewhere in a coded form). I then use matching coloured key tags from Toolstation https://www.toolstation.com/key-tags/p44638 (so quite cheap) to tag each set of keys for the house. Finally I give each house a lanyard to hold the keys. So when I need the keys for a house I just need to reach for the correct lanyard (they are all different brands, colours etc). When I give out keys to tradesmen I need to make sure they are tagged otherwise I risk getting given random keys back at random times and not knowing which house they belong to! There is nothing worse than going to a house and having the wrong keys and not being able to get in! I hope this helps your thinking in creating your own system. It is one of the nicer problems we investors need to solve! Regards
  17. Noticed that this thread has come back to life after a few weeks. I run a free networking event (now online) for Nottingham Property Investors. We have a number of dedicated tradesmen and Pros (mortgage brokers, B2L accountant) all focused on our needs. Search Eventbrite for "Nottingham Property Circle" to see more details. Or if you want to know more about the great teams that we have one board and the services that myself offer please just get in touch directly. PS: Where are you based?
  18. Anyone made enquiries about this new "beta service". Seems too good to be true since little or no costs that I can see listed. Free listings on Rightmove and Zoopla are rarely free IMHO. https://mashroom.com/landlord Thoughts and insight welcome please. Jonathan
  19. I run a networking group for Nottingham investors in case that is of interest. Along the lines of the old PH Meetups but virtual for now. Search on Eventbrite for Nottingham Property Circle and you should find our events (2nd Thursday of the month). There are lots of fellow investors and experience out there who are happy to share and learn together. Please send me a PM if you think I can help further. Regards Jonathan
  20. Try my dedicated BTL Mortgage broker that services all of my Nottingham investors and supports our Nottingham WhatsApp group: Mandy Waby, Veracity Financial Planning on 07860 274357 https://www.veracityfp.co.uk/buy-to-let/mandy-waby She has been very helpful to me and my contacts over the years and provides a full "To Completion" service.
  21. I can only echo the issues with high street banks taking forever and requiring lots of bureaucracy. I can highly recommend Starling since unlike Tide there are no transaction charges. I object to having to pay for every credit/debit however small the fee. Consider applying for more than one and see which you find works best for you? You can always close later. Lots of change of course so you need to keep an eye on the evolving banking conditions.
  22. I would suggest looking at one of the up and coming suburbs slightly further out from the centre where there is still potential for growth. Areas with strong fundamentals including schools and transport links to make the other benefits of Nottingham easily available. So follow the tram line and bus routes as well as the major road arteries. How about looking in NG5 or NG6 with good access to tram and buses? Hope this get you thinking - there is so much variety and opportunity in Nottingham! Jonathan
  23. I can highly recommend Starling Business (and personal) current accounts. The mobile app is really easy to use and supports most tasks you will need, but it is also easy to logon using a laptop and access from there. And no fees so great if you have a period where you aren't using it for much. The personal current account pays interest and once I had opened the personal, then opening a business was very smooth (the recommended way to build the relationship and ease the journey apparently).
  24. I run a WhatsApp group for investors interested in Nottingham and surroundings. We have a lot of experience in the group so can help each other out. If you come to our meetup (online and this Thursday as it happens) then you will find out more (details below)! Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  25. All sounds very strange a makes one wonder about their trust worthiness in general. Be aware that Modern Method of Auction has the concept of a £5K+VAT reservation fee which is additional to the agreed hammer price. It is not returnable and is a fee for buying essentially. Auction deposits are normally 10% of the final bid so please ensure you are aware of what kind of auction you are operating in. They might be giving you a way out from paying a lot of fees that might make your deal look unattractive? Do come back to us to let us know what actually is going on if you get to the bottom of it please.
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