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Showing results for tags 'management'.
Found 18 results
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I have listened to the Robs for years and when I bought my first BTL in Liverpool my plan was to have Property Hub Lets/ Yellow Lettings manage it. I have heard no announcement on the podcast and “Lets” is no longer on the “Services” tab. If no longer operating, anyone have any alternative management companies they recommend?
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Hi fellow forumers, I'm wondering if anyone has experienced a similar set up in the past and can advise me of their thoughts. This is our first development of this type and although we have a good accountant they are not property specific so I'd be interested to hear some ideas. Here goes... We have a development company and are due to complete construction of a block containing 9 apartments next year. As part of the purchase deal, the seller is retaining 2 of the apartments effectively leaving us with 7 apartments. We may sell a couple of flats but at the moment let's say we are going to retain the 7 flats and rent them out. We would like to avoid estate agents fees so we would act as the agent ourselves - marketing, finding tenants, safety checks and certificates, dealing with rental payments and so on. We would also act as the Management Company so in rental terms that would mean dealing with tenants, maintenance and so on. We would also be the Management Company for sold flats (including the 2 sold off plan at land purchase) so would deal with maintenance, communal cleaning, service charges etc. We want to remortgage the 7 flats (currently unencumbered) to receive some funds to move forward with our next development. My question is what is the best set up for this? We have 1) a development company, 2) a rental company and 3) a management company. Should we keep all of these as separate companies or should we keep them all as one company (the development company that currently exists). Is it legal/possible to do this considering requirements of a rental and management company? If we are looking to remortgage to fund the development company would lenders want everything under one company? I'm sure there are other questions that I could raise but at the moment I'd just like to get my ahead around this. There may be someone that has a really simple answer for me, or I may be completely off track with my thinking so would really appreciate any guidance! Thanks in advance.
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Hi everyone, I am new to the community and wanted to share something interesting and hopefully useful for other property managers. A bit of a disclaimer - I am one of the developers of assista - a time-tracking bot for Trello. When we started developing the bot, we had no idea how it will be used. In recent months we have found out that a big part of our users are property managers that use Trello to manage different tasks around the properties they rent or own. This has come as a surprise to us as initially we had no idea that Trello or time-tracking can be used in such a way at all. My goal was to share some interesting findings about how other property managers use Trello + Assista to save time and effort. Here are some use cases we discovered: Setting up a "occupied" and "vacant" lists in Trello and moving cards to each list based on when a property becomes occupied or vacant. Then using Assista to generate a report or spreadsheet for the month / year etc which shows how much time each property was vacant or occupied. Creating lists for repairs / cleaning services / etc - then allowing different users to move cards in/out lists and generating reports with Assista about how much time each task took. One management company uses several lists in Trello for their different stages of the pipeline - "Pre Listing", "Active Listing", "Contract Signed", then generating reports about which manager from their company moved a card to each list. Assista gives you a report when someone moves a card to a specific list and starts tracking time for them specifically. I am interested if other property managers here use Trello to ease and automate their work? Have you found other uses for your workflow than the ones above? Cheers! -
As a property investor (I'm not a landlord): For example, I found a BMV property, then apply for planning permission to convert into an HMO property depending how many bedrooms and use the bridging finance to refurb it, then use the property to rent it out to potential tenants if that makes sense. This is a buy to let. Someone mentioned that property management/ Rent2Rent is a trading business. Which of these codes are applicable? It is really confusing. SIC codes SIC code 68100 is for the buying and selling of own real estate; so, if you’re going to be flipping and trading, this would be the code for you. SIC code 68209 is for the letting and operating of own or leased real estate. In other words, for buying and holding property and renting it out. SIC code 68320 is for the management of real estate on a fee or contract basis. So, for example if you’re going to set up your own management company, then this would be the right classification for you. (As an aside, if you’re going to manage properties for other people or third parties, you should definitely do this in a separate company, and for tax efficiency purposes, you may also consider managing your own properties for yourself but through a separate company). SIC code 68310 is for real estate agencies. In other words, if you’re going to do deal packaging, i.e. if you’re going to source properties for other people.
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Hi All, I'm currently buying a 6 bed HMO in Liverpool. I know I'll need to re-register the property in by own name for the licence. However is that also true for current certificates i.e. Gas, Elec and Fire Safety. Also need a good and reliable management agency, as I'll be remote. Thanks, Best regards Gary
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Hi guys, If your company has a R2R deal in place for a HMO, but is then using a management company for the property, do you require all of the insurances that you would need if you were to let the property out yourself? Thanks! -
Hi Everyone, Does anyone in the Glasgow area have any recommendations for FHL managers/cleaners? Thinking small, independent companies/individuals/teams that care and will engage promptly. Feel like I am losing a fair bit of control with current provider and with the level of saturation in the market and political uncertainty, I need a fresh approach! Feel free to message me with recommendations/thoughts. Kind regards Kirsteen
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Hi guys, at the risk of sounding like an idealist- does anybody know of any letting agents that offer individual property management services on a piece-meal basis, as opposed to the full suite? For example ONLY tenant vetting or ONLY marketing. It seems as though its all or nothing with most of the agents…
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Hi All, Looking for some help on the freehold enfranchisement process specifically related to the management set up. Shortly a building with 4 flats (converted) will be taking the freehold enfranchisement route. All 4 landlords are happy to be involved. Nice and easy so far. As part of this we will need to set up a Ltd company to own the freehold and manage the building. This is where I have some questions. 1. The company will have 4 directors - does this in anyway link these people together outside of the company. 2. I understand after year 1 you can ask companies House to register it as dormant as its a freehold management company, however if there is money coming in and going out (not for profit) to manage the company (gardening, communal lights, savings for roof etc) does this matter? Will tax returns be needed still? 3. A bank account will need to be set up to manage this building per the above. What is the best way to set this up? 4 directors on one account seems messy and will surely link everyone together financially, but a single person may be perceived as risky for the others. Any advice here would be greatly recieved. Thanks
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Hello everyone, I've entered into a proposed purchase of a house where the asking price is as high as I would expect in relation to nearby properties. The house is 12 years old, has always been rented, (evidenced by the carpets) and has no information about gas or electrics (owner not forthcoming). Now I learn that it has an Overage Agreement on it whereby any increase in value incurred by improvements requiring planning would have to be shared 50/50 with Parish Council. Furthermore the title is possessory, not absolute, which may in theory be changed in October provided nobody else claims interest in the property. Finally I learn that there's a management company for which an annual payment is made for common pathways etc. Do these things make the house more of a hard sell and should they impact the sale price? A local (reputable) estate agent says it's worth 20% less as a result of these three things. The solicitors disagree on the seriousness of the Overage clause and I've had no reply from the parish council. I have to move on in 5 years and don't want to pay full price for a house I may find difficult to sell. (It was for sale and empty for 5 months before I offered without another offer having been made.) Many thanks for any opinions or advice. Jane
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I live in London, and am about to start investing in property in the North (I'm relatively new at this). Depending on what deals I find, I may wish to refurbish them to add value. - When it comes to builders, how feasible is it to manage a building project from the other side of the country? - To what extent do I need to be physically present? - How would the builders get access to the property without me being there with the keys to let them in? - If I needed to pay someone to keep an eye on the builders and let them in, what kind of people should I be looking for? It'd be good to hear stories from people who have done this kind of thing before. Cheers!
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I have recently become the joint freeholder of a block of 4 flats. The previous freeholder had been missing since 1989 and there was nothing in place to collect a service charge and to generally maintain the property. It has taken more than a year but we have now taken control of the freehold and now want to set up a management company to allow us to collect a service charge to pay for building insurance and to maintain the property. Can anyone advise on the setup of a management company for freeholders? I assume we just need to set up a limited company with the two of us as directors but as it wont be a company earning any money, just collecting money to pay the bills, is there a special way of setup in terms of HMRC? Also, any special business bank account required in this respect. Any advice welcome. Thanks, Jon. -
Can anyone recommend a good property management app to keep track of tenants, offer standard landlord services (marketing online, payments, tax accounts etc)? I've seen the likes of rentr which looks like a great service but if anyone has had any good experiences, would love to hear about them! Thanks!
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Hi everyone, Do you own a HMO (both licensed and unlicensed) in South London? Do you self-manage? Are there times you struggle to find and deal with tenants? Do you have enough time to organise and manage minor maintenance, tenant admin, referencing, ASTs, deposit registration? We specialise in providing a high end, professional hands free full management service specifically for HMOs in South London. As HMO landlords ourselves, we have the knowledge and experience to know what it takes to successfully manage a HMO and through our complimentary consultation we help you to maximise every aspect of your HMO. We have corporate and professional tenants waiting and match the right people to the right property. A happy home = Minimal voids and problems. Our aim is to ensure we help you maintain a high income producing HMO property. We only cover select areas of South London, so if you’re interested in our professional hands free full management service and would like to see if your property/ properties fall into our criteria area then contact us direct on…. Phone: 0208 242 1702 Email: info@prominence-group.co.uk Kind Regards George J Regan Prominence Group
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Hi .. In the process of buying a BTL property in Rugby, can anyone recommend letting agents in the area ? Thanks Regards Hemant
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Hey everyone, looking for some advice Myself and my mum own two properties which are managed by a property management company. We've had them for nearly 5 years, and they've always been managed because we live in the South and the properties are in the North. Due to a recent change in circumstances, we're looking to sell both as my mum is currently struggling to pay her own mortgage and she's looking the recoup the investment made 5 years ago to pay off the remaining mortgage on her own home. Here's the issue... One of the properties has tennants in it and paying, so we're not too worried about this one just yet. But what can we do in terms of selling this one? Do we wait until the tenancy agreement is over and then we can put it on the market? The second one is a right pain, and the tennant hasn't paid money personally since July. It's all come from Housing Benefits, and the management company sent money up until November to cover the voids as they're then going to claim the housing benefits back. It's currently going to court as she's saying that she doesn't want to move out, and challenging the fact they cut her housing benefits because they were paying her too much... The property management company are saying they can't evict her, even though she's on a 6 months tenancy agreement, and that was up a couple of months ago. Although she has problems paying and a 16 year old, our situation isn't rosey either and we need to sell to raise money to pay our own mortgage. Are you property management company just dragging this out so we don't sell? Can we simply evict her ourselves and put the property on the market? We advised the property management company 15 months ago that we wanted to sell. They advised that selling isn't the best option so they would look to find investors to take over. Nothing has come from this. What route can we take to sort this out as soon as possible? I'm not really involved and trying to advise my mum on the situation. We lost our Dad 6 years ago and invested some of the inheritance into the two properties. Any additional information please let me know.
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Has anyone any experience with HRD online training please? They have an offer through groupon currently for their property management training course and I'm wondering if it's worth my while. I spent a month working in high end property management in Sloane Square this year and want to get back into the business and more training might help - it's got to be decent though ;-) Thanks! Mike http://www.groupon.co.uk/deals/london/the-hrd-group/35165030?p=1&nlp=&CID=UK_CRM_1_0_0_61&a=9&utm_source=newsletter&utm_medium=email&sid=1f28366f-3a95-40ce-9d4e-a946a3092d8c&division=london&uh=740b821c-7873-4adc-8ffe-76d6368575fa&date=20140203&sender=rm&s=body&c=deal_title&d=deal-page&utm_campaign=the-hrd-group-35165030 PS link to their site - looks a bit basic which concerns me - never judge a book by it's cover? http://www.hrdonline.co.uk/certificate_in_property_management.html
