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Found 13 results

  1. The government is about to put forward another new law that will once again make them very unpopular with landlords. There are currently plans being put forward (currently at the consultation stage) to introduce mandatory 3-year tenancies for all tenants within the private residential sector. What this means: Landlords - Longer tenancy agreements would mean a longer period of time for eviction of troublesome tenants. - With this in mind, under the new proposal, there would be a 6-month probationary period where the landlord can request termination of the tenancy agreement and regain the property. - Currently, a landlord can serve a section 21 after the probationary period has ended on the property (usually 6 months) and get their property back without giving any reason or going to court. However, with a longer tenancy, there would be a longer initial period whereby a section 21 could not be served, meaning a section 8 would need to be served. A section 8 has a lot more technicalities and does have to go through the court system. What this means: Tenants - Good tenants would be guaranteed more stability from their rented property in the long term. - Once the 6-month probationary period is up, the tenant is secure within the property for another two and a half years. If however, they want to leave, they can simply cancel the contract, giving a short notice period. Do you think longer tenancies are a good or bad idea? Original source: https://bit.ly/2OPz0Sx
  2. I'm trying to compile a list of top tips specifically aimed at landlords renovating BTL properties. So I'm focusing more on longevity and cost, rather than all the bells and whistles/creature comforts you find in most articles online. I'm also focusing on internal refurbs only, and not major structural issues or extensions. So far, I've published the article below, but I'm really keen for feedback and for more tips! I want this to eventually be a comprehensive list that we can all use. https://propertyworkshop.com/property-investment/property-refurbishment/ Cheers, Russ
  3. Hello all, Long time listener to the podcasts here (my intro post will follow this weekend!) but I thought I'd make a quick post, as I've never heard LNPG mentioned by Rob & Rob? LNPG has saved me a fortune and I recommend it to every landlord I meet. I'll be happy to post up my savings, if that's welcome? It's not so much the savings that I find beneficial, but the time saver of not having to shop around to find a good deal. I found out about the group on a Sue Elkington course (and I first heard of Sue via the podcast!), it was mentioned by another attendee so I thought I'd check it out. It seemed too good to be true, so I popped a post up on the BMV facebook group and the feedback was very positive. When Lisa Williams & Francis Dolley gave the thumbs up, my mind was made up! Anyways, I thought I'd quickly share that for starters. There's a North West meet coming up, it's just getting off the ground so needs some support, if anyone's interested I can share the details too. Cheers guys, Chris
  4. Tower Hamlets council today were the first borough in London to enforce the new crackdown on rogue landlords, letting and managing agents. Leading the way, Tower Hamlet's issued 27 fines to landlords and lettings agents ranging from £1000 - £10,000. This is all done under an initiative to crack down on agents and landlords that tarnish the reputation of the industry and make tenants lives a misery by not sticking to the laws that protect private renters. Do you think Fining landlords and letting agents will make the industry better? Original article: http://www.arla.co.uk/news/july-2018/tower-hamlets-council-leads-the-way-for-enforcement-against-rogues/
  5. Its amazing how much negativity there is at the moment amongst existing and long standing BTL investors (for negativity see propertytribes.com ) ..... I understand that tax changes have slimmed margins down. However the capital gains that most people have made and will make in the next few years if they have bought well and invested in their properties make it a lucrative market to be involved in. The property market has some way to go until it reaches the peak in this economic cycle.... London/South is dipping now for sure , however, huge infrastructure investment HS2/Cross Rail etc, strong demand from generation rent and access to cheap borrowing (even with 0.25% rise) means it is still a time to buy and invest in those areas that are seeing 5-8% year on year growth in the UK (if you don't where these places are that is your problem right there). As with any investment or business, success is about making strategic decisions and having both a growth plan and then an exit route for when the market does inevitably change over the next 5 years or so. So lets stay optimistic and be smart by focusing on creating quality places for people to live in where they can get work (outside of London/South) you will not go far wrong in the next few years.
  6. Hullo! I'm hoping there are some landlords out there with experience in leasing property through Housing Aid who can give me some advice? I would like to be both a socially conscious AND profitable landlord. Whilst I appreciate my profit margins will be a lot less, I strongly feel that anyone of us could easily fall on hard times and would like to help families who have. I have meet with my local Housing Aid department, who are very keen to get landlords on board. They have a massive demand for 2 bedroom homes to house families. There are many pros and I'm sure cons: Pros: - V low risk of void periods as demand is so high - No letting costs (the council do it) - Low insurance (the council in the process of working with an insurance company to cover this) - Cheaper properties, cheaper areas - Low uptake on the security bond by landlords (6%) to pay for damages etc. - Direct rental payment - Feel good factor - Council very open to negotiation Cons: - Vulnerable, high risk tenants? - Low rent (£470 pcm for 2 beds, however, can charge more with the tenants topping this up) - High maintenance - Furnished - I'd like to hear of some! From talking to people there is a belief that your property is more likely to be trashed if you have Housing Aid tenants. I'm not convinced... in my experience wealthy private tenants, with rich Daddy's are the most problematic! Also the council vet everyone and those classed as high risk e.g. with a history of substance abuse, criminal records, no employment history etc., are not processed through the Housing Aid route. Also the low uptake of the councils security bond would suggest that the tenants look after the property. However, I don't want to be naive so would really like to hear from anyone with experience in this area. As a bit more background... I'm looking in the Nottingham area, would look at self managing and will plan to negotiate with Housing Aid regarding the selective licensing that is shortly due to be introduced in the city. I will also probably hedge my bets and look into getting one or two more profitable HMO's at some point! Muchas gratis Ginger
  7. Quite a divisive question but welcome all your opinions: anyone here with experience of/ successful methods on managing HMOs remotely from another town or city? Keen for feedback. Cheers
  8. Hi everyone, My name is Grace, I'm a TV Researcher at a company called Boundless Productions. We are making a new BBC One series about landlords and today's rental market and have filmed 3 episodes and have been commissioned to make another 2. I am hoping that people will be willing to chat to me about their experiences as landlords from when they first got involved in property up to the present day. The outline of the programme is as follows: We are looking for successful landlords with different stories and reasons to want to get to know their tenants and properties better and they will do this via a social experiment of spending a week as one of their tenants. It's important that the landlords go on a personal journey and are genuinely interested in finding out what it's like to be a tenant in today's market and we are looking out for interesting stories to justify a landlord moving into their rental property for a week. So that might be, for example, wanting to explore how their own lives and expectations have changed from when they were a renter, it might be that their business has grown to such a degree that they feel removed from their tenants and properties and would like the opportunity to go 'back to the floor'. The aim of the programme is a journey which will allows landlords to improve their knowledge of today's rental market - and their own properties - by experiencing them first-hand as a tenant. It is also an opportunity for the landlords to explore and reflect on how the rental market is changing in Britain and what challenges come with that - for both landlords and tenants. We are fast becoming a nation of renters and this is an interesting (and hopefully fun!) way of exploring the rental market. How is the market changing? How are tenants' demands changing? Do expectations and demands rise with prices? If anyone is interested and wants to have a non obligation chat then please feel free to drop me an email at grace.hetherington@boundlessproductions.tv Thanks for reading Grace
  9. Hello, I want to know all of the problems you have or have experienced with the property industry. Whether it is in relation to owning a property or be the buying/selling process, management of properties, communication between parties or anything else. I want to get a clear idea of what the problems are or what you see as negative within the property industry?
  10. Hello from Sussex! Happy to help with any Letting & Property Management queries. I have worked for Allsop Residential Investment Management for 10 years and Leaders The Rental Agents for 3 years. Now set up on my own Letting & Managing properties around Sussex ARLA Qualified NFOPP Level 3 Technical Award
  11. Hello everyone, My name is Sara and i am the Manager of 247 Property Services n Sheffield and Rotherham. I would like to introduce myself and what we do here at 247. I have in worked in property for many years both here in the UK and Dubai UAE. I have a passion for the property industry and thoroughly enjoy the work i do. 247 is an amazing company providing services for both Lettings and Sales. On the Lettings side we do a tenant find only service and a fully managed service. On the Sales side we do our full Sales service and an online only service. We have many happy clients and customers, however, our tenant and buyer base is so large we are always looking for more properties. We deal with all types of homes from HMO's to Apartments, to 3,4,5 and 6 bed houses, The same goes for both Sales and lettings. If you have questions please do not hesitate to contact me 01142 996 247 or on 07940 881 597 Thanks for reading Sara
  12. There has been a buzz surrounding Peterborough for some time, following announcements of various development plans taking shape in and around the city. Peterborough, which was previously best known for having good transport links to bigger and brighter nearby cities, is undergoing a huge period of regeneration with a recent announcement made by Peterborough City Council declaring that UK and overseas investors are backing an impressive £130million regeneration plan. Read more at the BBC here; http://www.bbc.co.uk/news/uk-england-cambridgeshire-26229020 The redevelopment plan will see several key areas of the city centre set to be rejuvenated which will undoubtedly deliver new jobs, homes and outlooks for people living in Peterborough and generate interest from outsiders hoping to take advantage of our 45 minute commute to central London. Another boost for the cities image was being crowned the fastest growing city in the UK, followed closely by Milton Keynes, which has helped to enhance the confidence of local, national and overseas investors in the cities potential to deliver. Based on figures collected last year, and as reported by the BBC, the annual change in house prices in Peterborough is up 10.8% compared to national average of 6.84%. When this growth is coupled with house prices which are below the national average and a strong demand for rental properties, Peterborough offers profitable buy to let solutions. With all of these exciting plans and projects in the pipeline and to take advantage of a city on the up, I believe that now is the time to invest in Peterborough! For an informal discussion to learn more about potential returns, property selection and areas to invest, please get in touch Emma
  13. Hi Everyone, My names Emma, I have been working in the private rental sector for 5 years and I have experience in all aspects of the letting industry. My current role is as the General Manager for a leading letting agency operating out of franchises in both Peterborough and Cambridge. The focus of my role is overseeing the day to day operations of the business, business development, future planning and to help new and existing clients to build and improve their property portfolios. I am passionate about all aspects of the letting industry, but especially buy to let and helping clients, family, friends and acquaintances select properties and find a property solution that will maximise their investment. I completed a level 4 diploma in Residential Lettings and Property Management a couple of years ago and I am currently working towards Associate membership of RICs and joining ARLA at fellow grade. I've joined the Property Hub to get involved in discussions, share knowledge, learn some new things and hopefully help others to with their property portfolios. I hope to speak to you soon Emma
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