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Hello everyone,I am new here, but have been following Rob and Rob for some time and very grateful for all their work they do for community, hopefully I’ll manage to get my own BTL soon.I would like to form “Rent to Rent” limited company and I was wondering if someone could help with advice please.I have found two 3 bedroom houses I can rent and sublet on room by room basis. The living rooms have already been converted into 4th bedroom, so there will be 4 people in total in each house.To my understanding, I need to:1. Sign commercial lease agreement between my LTD and the house owner.2. Make sure mortgage provider is aware of this lease agreement and also that the house is being let as HMO.3. Make sure landlord has building and landlord liability insurance.4. Make sure landlord’s insurance won’t be invalidated due to contract I have between my LTD and the landlord.5. Make sure landlord’s insurer will cover multiple tenants on separate ASTs.6. Make sure house has gas and electrical safety certificates, and also ECP.7. Make sure house meets all other requirements (fire safety, minimum room size, etc)8. Get public liability insurance for my LTD9. Get professional indemnity insurance for my LTD (do I really need it?)10. No mandatory HMO licence needed (4 people in Lambeth area in London)11. No planning permission needed (no HMO Article 4 Direction for this area)Questions I'm looking answers for:12. Is £100 per month a good budget to take care of payroll and everything else to do with tax? Accountant recommendations please.13. Do I need a licence/permission for my LTD to operate as R2R?14. Do I need to register myself as an agent? If so, is it as a “letting agent”?15. Do I need any other licence for myself as director/employee of the company?16. I won't be collecting deposit from the tenants, but instead will require 2 months rent payment upfront. Is this acceptable or I need to handle this money in particular way?17. Where can I get good template for commercial lease please?18. Shall I use company formation agent? I would like to keep my home address private. Any recommendations?19. What else am I missing??Hopefully this post will be a good starting point for other people interested in R2R business.Many thanks in advance for all the input!PG
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!
Newbie worried to take that leap!
Guest posted a topic in Newbie Advice & SupportHello! So I'm a 24 year old that's been a little bit obsessed with getting involved in the property market for the past 3 years or so. I've had decent jobs, I've been travelling for the past year and now I'm back in the UK ready to 'start my career'. I've managed to secure a really good graduate scheme which I will start next week. Now the initial plan was to buy my first home within the next 8 months of working, live in it, do it up, move onto another home and turn this first house into a rental. Great. But this takes time and money. And I'm impatient and have little money (travelling for 10 months instead of 5 will do that to you). I've listened to the recent podcast Rob Dix shared talking with petra about her rent-to-rent business. I didn't even know this was a thing! I've watched hours of webinars and read so many articles and really feel like this is something I could get involved in. You need little start up money. You need the drive to do it. A lot of profit can be made with the conversion of a home to a HMO and I feel I understand the student and young professional market enough to do that. Now here is my dilemma. This would be my first actual step. My first leap into the industry. I'm forever doubting myself on my knowledge so I thought I would come here to seek the answers I think I already know. I'm looking at properties in the Manchester area, outside of the city centre, either Salford or adjacent to Oxford Road for the Student/Young Professional market. I am on rightmove constantly and can't believe the amount of properties that are 'Available now!'. Does anyone have any insight as to why this is? Is it just that the demand is there so it's a thriving market, or is it the opposite and properties aren't renting any more? If anyone has any words of advice or can give me a kick up the backside to actually take that leap then please send it my way! Thank you all! Emma
Newbie to property investments
Irvine posted a topic in Introduce yourselfHi, I'm Irvine and I'm fairly new to property investment. I attempted it a few years ago with a commercial property but did not have the knowledge to deal with the challenges back then needless to say I don't have that property anymore. I've learnt a few lessons but not enough, i really want to have another go but in a different arena. In my day job my a computer business systems analyst, however I need something more to secure my future by generating a passive income. I'm looking at HMO's or Rent to rent opportunities. I'm still new to this and looking at how to enter this arena but i need more advice and guidance to make sure it's successful. I have a small amount to invest of around £45k. It would be great to network with others who are already successful in these area and share information. Thank you.
Starting out a Rent 2 Rent business
MohammadAli Jamalan posted a topic in Introduce yourselfDear members Hi My name is Mohammad Ali. Some of you might have heard me at the property investor show in London's Excel where I put my questions to Rob&Rob at their live podcast recording there. I found propertyhub.net in summer 2015 when I was searching the net for an answer to a property question I had at the time. That's when I landed in this forum and found very useful answers. So I registered straight away and then started receiving some emails which in turn introduced me to rob&rob's podcast and publications. I've since come a long way in educating myself in property investment. In fact, I'm just setting up my own business starting with Rent 2 Rent. I chose this strategy to build on my cashflow and generate money to put into other investment strategies. For the coming year though, I'll be focusing on R2R and hope to build a large portfolio by next year. I'm starting out as a sole trader, but intend to expand into a limited company within the year. I'm going to start with my own savings first. Once I have a few cases to replace my income with, I'll be seeking JV partners to expand the business. I plan to attend the meet ups at London Kings Cross, from next month. I'd be grateful to hear from anyone with suggestions for my business success. Kindest regards Mohammad Ali