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Simon Pither

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Everything posted by Simon Pither

  1. Two main audiences - self managing landlords and anyone planning property investment. In practice it's used by small and large landlords, letting agents, sourcers, investors, and even just regular house buyers (mostly the free price history browser extension). 🙂
  2. I may be a little (or a lot) biased but I prefer PaTMa which is a system I created (to replace my own spreadsheets). It provides very similar financial tracking of rental properties but also covers full tenancy information, inventory creation, e-signatures and figures for your tax return. On the deal analysis front PaTMa provides profit forecasts, as Lendlord does, but also comparable analysis, local licensing (and Article 4) data and planning application information. There's a free tier but also paid subscriptions so it doesn't rely on a stream of commission from partners to stay alive! Some people above have expressed a concern about extracting their data - I agree and have always offered free data backups in a generic format (it's structured so not as simple as CSV and might include uploaded images, PDFs, etc) but it means you can always keep your data safe. Please forgive the self promotion - I hope people find PaTMa useful. Please do let me know.
  3. My understanding is that a tenancy continues as part of their estate after a tenant dies. https://www.landlordlawblog.co.uk/2014/05/21/what-happens-to-a-tenancy-when-the-tenant-dies/ Which means that rent is still due and the normal process of notices, etc would need to be used to end it (from either side). Hence the amount of time provided is dictated by the tenancy agreement, notice periods and repossession process. On a personal level though, I'd suggest giving them as much time as you can afford to. Helping the family avoid any extra stress or unpleasantness at such a time has got to be best.
  4. I managed to miss that and can't find it anywhere - do you have a link to the Development Kit?
  5. Typing your name is one of the options Signable offers (along with drawing on a touch screen or with a mouse). It looks like PDF Fill and Sign systems often offer drawing options too. Signable also record several other things to help authenticate/audit the signature - such as the exact time, the signers IP address and a checksum of the document (so you can check it hasn't changed later). And all done via their service rather than being in the control of the signer. Considering you can make a contract with just an email (or talking), I'm not sure how much of these things are really required, but I quite like the extra reassurance.
  6. I'm late to reading Rich Dad, Poor Dad - having only done so in the last few weeks. Following that I went looking for information on the Cashflow game mentioned, I found this review quite interesting - apparently not written by property people! ;-) https://www.millennial-revolution.com/invest/learned-playing-robert-kiyosakis-cashflow-board-game/ As Dino mentioned, there's also a free online version, available here: https://www.richdad.com/apps-games/cashflow-classic I've not tried it yet though. I'd be interested to hear from anyone who has? Alternative or improved games along the same educational lines would also be great? I'd like something I can play with my (early) teenage children.
  7. My investments are chosen to be low effort, long term (hopefully capital gaining) and hence I only target 5% ROI. Just thanks to time (no fancy strategy) I have some properties that now provide income with no cash left in them. As shown comparing my answer to Marty's, there's a very wide range for "acceptable ROI" - it depends on what your goals are and what inputs (ie time, money) you have available.
  8. The government model AST is available here: https://www.gov.uk/government/publications/model-agreement-for-a-shorthold-assured-tenancy but it's not very accessible to actually use. I quite like the NLA template - available here: https://landlords.org.uk/forms/assured-shorthold-tenancy-agreement-ast - however you need to be a member to access it. I understand the RLA also provide an AST template, although again it's only available to members. OpenRent provide one that's available to anyone and free: https://blog.openrent.co.uk/a-free-assured-shorthold-tenancy-agreement-rental/ (I quite like the structure of this one too)
  9. The one I've made is available for free. Includes price changes, local comparisons and ROI estimate where available (and some other due diligence / investigation tools too). https://www.patma.co.uk/page/property-tools-browser-extensions/ I'm going to release a new version in the next few days which makes the information more visible too. I'm always looking for suggestions for improvements, if anyone has any please let me know.
  10. There are official guides available here: https://www.gov.uk/government/publications/tenant-fees-act-2019-guidance The fee ban applies to ASTs, student lets and licences - other leases may not be covered. Here's a relevant extract on when the ban comes into place for new/existing tenancies:
  11. Hi, I also recommend Signable, it's the service I use to provide integrated e-signing in PaTMa. It's been very reliable, cost effective and easy to use. Simon
  12. Hi, I might be biased(!) but I'd recommend my own property management software: https://www.patma.co.uk/ It's even free if you're just using it for one single-let. :-) I like feedback (good or bad) so I can keep improving it, so please let me know if you have any suggestions. Thanks Simon
  13. Hi, What are you wanting the flat to be inspected for? Are you thinking of something like a mortgage survey? Or perhaps for consideration of building works or improvements? The best option might be to find a trust worthy builder, surveyor or appropriate professional and purchase some of their time to accompany you on the viewings. They'll be able to provide fairly immediate feedback to help with your decision before making an offer. However, if you don't, you could get it checked after making an offer and potentially change your mind. It's not unusual for a mortgage survey to show up something that's otherwise hidden. Simon
  14. A small block of flats or house converted into a few flats is an approach that I'm curious about too. I'd be interested to hear any experiences. My understanding (could be wrong) is that it's possible for properties converted into flats to actually count as an HMO, if the conversion doesn't meet certain criteria, which might be something to be wary of.
  15. What's your exciting announcement? I don't have a spreadsheet for ROI/yield calculations but I do have this: https://app.patma.co.uk/prospector/property-profit-and-yield-calculator/ And there's a paid service which allows storing all the different properties you're considering, along with their ROI and other calculations for easy comparison (much easier than a spreadsheet)! It is my own product though, so I might be biased. :-)
  16. Hi, I've not had to deal with Japanese Knotweed myself but I know the people behind Phlorum, who could help. The linked page includes a section on refused mortgages too. My understanding is that it's not something you should try to deal with yourself and cost of removal really depends on the size/location of infestation. Simon
  17. Hi, Just a quick update on this, I've now got a browser extension (Firefox and Chrome) working that does the beginnings of this - provides quick comparisons (and price history) but no automatic yield calculation yet. https://www.patma.co.uk/be As always, any and all feedback is great. Simon
  18. I've put the basic figures into my buy to let profit calculator and it shows that the rental cover limit is what's restricting the mortgage in this scenario, you can see the numbers (and adjust the scenario if you want, here): https://www.patma.co.uk/s/lRXwLWs5 If you want to calculate the rental cover limits yourself I've written a blog post about doing so: http://blog.patma.co.uk/2017/10/rental-cover-for-buy-to-let-mortgages-how-to-calculate/ Apologies for linking to my own stuff but I hope it's useful to you. Simon
  19. If you've not heard the podcast yet, here's the link to the Property Hub Tax service: http://thepropertyhub.net/tax/
  20. Not very property specific but I also swear by a good notes app, personally I use Google Keep https://keep.google.com/ so I can access it from my desktop as well as mobile. Great for recording quick suggestions in text, scribbles or voice recordings. If it's a todo that needs noting, then Remember The Milk is my favourite - having tried many over the years, it's just quick and simple. https://www.rememberthemilk.com/ Property specific - I use (my own, please forgive the self promotion but I really do use it personally) https://www.patma.co.uk/prospector/ for tracking properties I'm interested in, quick calculations on what different prices would mean, noting questions I want to ask at viewings and then the answers as well. I also use it for self managing my properties but that's much less exciting. :-)
  21. Hi Ed, Thanks for volunteering to help with testing - I'll send you a private message. I'm only just starting to build marketing - initially with some content on http://blog.patma.co.uk/ but I intend to send more direct traffic as well in the next few weeks. Simon
  22. Hi, I'm a landlord, property geek and dev; I've built https://www.patma.co.uk/prospector/property-profit-and-yield-calculator/ and https://www.patma.co.uk/prospector/ - that page is very short on info but the tool allows you to create a scenario (cash available, mortgage criteria, etc) and then grab properties from Rightmove (or enter them manually) to calculate all the important figures, including yield. It doesn't (yet) cover exactly what you want though - providing an estimated rental value based on other properties in the area. Although this is something I've already started work on, including getting Zoopla API access. I hadn't planned to finish that feature just yet but I could probably be convinced to, especially if you're willing to test and provide feedback? Simon (Edit: I should also add, this isn't a browser extension.)
  23. Hi, It's not a spreadsheet but it covers very similar figures (and includes the coming tax changes if you're not buying as a company) - https://www.patma.co.uk/prospector/property-profit-and-yield-calculator/ It currently makes an assumption on recurring costs (using 15% of annual rent). I've created the calculator myself (please excuse the self promotion) so if you try it out and have any feedback please do let me know. Simon
  24. If it was anyone from here who found that it wasn't working for calculations that don't need a mortgage this morning, thank you for discovering it and sorry it wasn't working - it's fixed now so please do try again.
  25. Great lists, I completely agree. For crime rates and broadband I find this site quite good: https://www.checkmystreet.co.uk/ ... or more detailed crime stats, including history here: http://www.ukcrimestats.com/ Another thing I always like to check is how close the property is to flood risk, which can be checked here: http://www.checkmyfloodrisk.co.uk/ As a quick-start for the financial forecasting I've created my own tool that's available for free (please excuse the plug): https://www.patma.co.uk/prospector/property-profit-and-yield-calculator/
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