Property118 Ltd understands that your privacy is important to you and that you care about how your personal data is used and shared online. We respect and value the privacy of everyone who visits this website, www.property118.com
(“Our Site”) and will only collect and use personal data in ways that are described here, and in a manner that is consistent with Our obligations and your rights under the law.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
||means an account required to access and/or use certain areas and features of Our Site;
||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;
||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;
||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and
||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Information About Us
- Our Site is owned and operated by Property118 Ltd, a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Our VAT number is 990 0332 34.
- Our Data Protection Officer is Neil Patterson, and can be contacted by email at email@example.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- What Does This Policy Cover?
- Your Rights
- As a data subject, you have the following rights under the GDPR, which this Policy and Our use of personal data have been designed to uphold:
- The right to be informed about Our collection and use of personal data;
- The right of access to the personal data We hold about you (see section 12);
- The right to rectification if any personal data We hold about you is inaccurate or incomplete (please contact Us using the details in section 14);
- The right to be forgotten – i.e. the right to ask Us to delete any personal data We hold about you (We only hold your personal data for a limited time, as explained in section 6 but if you would like Us to delete it sooner, please contact Us using the details in section 14);
- The right to restrict (i.e. prevent) the processing of your personal data;
- The right to data portability (obtaining a copy of your personal data to re-use with another service or organisation);
- The right to object to Us using your personal data for particular purposes; and
- If you have any cause for complaint about Our use of your personal data, please contact Us using the details provided in section 14 and We will do Our best to solve the problem for you. If We are unable to help, you also have the right to lodge a complaint with the UK’s supervisory authority, the Information Commissioner’s Office.
- For further information about your rights, please contact the Information Commissioner’s Office or your local Citizens Advice Bureau.
- What Data Do We Collect?
- Date of birth;
- Address and post code;
- Business/company name and trading status;
- Number of properties owned;
- Accountants details;
- Contact information such as email addresses and telephone numbers;
- Proof of residence and ID;
- Financial information such as income and tax status;
- Landlords insurance renewal dates;
- Property Portfolio details such as value and mortgage outstanding;
- How Do We Use Your Data?
- All personal data is processed and stored securely, for no longer than is necessary in light of the reason(s) for which it was first collected. We will comply with Our obligations and safeguard your rights under the GDPR at all times. For more details on security see section 7, below.
- Our use of your personal data will always have a lawful basis, either because it is necessary for our performance of a contract with you, because you have consented to our use of your personal data (e.g. by subscribing to emails), or because it is in our legitimate interests. Specifically, we may use your data for the following purposes:
- Providing and managing your access to Our Site;
- Supplying our products and or services to you (please note that We require your personal data in order to enter into a contract with you);
- Personalising and tailoring our products and or services for you;
- Replying to emails from you;
- Supplying you with emails that you have opted into (you may unsubscribe or opt-out at any time by the unsubscribe link at the bottom of all emails;
- Analysing your use of our site and gathering feedback to enable us to continually improve our site and your user experience;
- Provide information to our partner service and product suppliers at your request.
- With your permission and/or where permitted by law, We may also use your data for marketing purposes which may include contacting you by email and or telephone with information, news and offers on our products and or We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that We fully protect your rights and comply with Our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003.
- You have the right to withdraw your consent to us using your personal data at any time, and to request that we delete it.
- We do not keep your personal data for any longer than is necessary in light of the reason(s) for which it was first collected. Data will therefore be retained for the following periods (or its retention will be determined on the following bases):
- Member profile information is collected with your consent and can be amended or deleted at any time by you;
- Anti-Money Laundering information and tax consultancy records are to be kept as required by law for up to seven years.
- How and Where Do We Store Your Data?
- We only keep your personal data for as long as We need to in order to use it as described above in section 6, and/or for as long as We have your permission to keep it.
- Some or all of your data may be stored outside of the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein). You are deemed to accept and agree to this by using our site and submitting information to Us. If we do store data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the UK and under the GDPR
- Data security is very important to Us, and to protect your data We have taken suitable measures to safeguard and secure data collected through Our Site.
- Do We Share Your Data?
- We may share your data with other partner companies in for the purpose of supplying products or services you have requested.
- We may sometimes contract with third parties to supply products and services to you on Our behalf. Where any of your data is required for such a purpose, We will take all reasonable steps to ensure that your data will be handled safely, securely, and in accordance with your rights, Our obligations, and the obligations of the third party under the law.
- We may compile statistics about the use of Our Site including data on traffic, usage patterns, user numbers, sales, and other information. All such data will be anonymised and will not include any personally identifying data, or any anonymised data that can be combined with other data and used to identify you. We may from time to time share such data with third parties such as prospective investors, affiliates, partners, and advertisers. Data will only be shared and used within the bounds of the law.
- In certain circumstances, We may be legally required to share certain data held by Us, which may include your personal data, for example, where We are involved in legal proceedings, where We are complying with legal requirements, a court order, or a governmental authority.
- What Happens If Our Business Changes Hands?
- How Can You Control Your Data?
- In addition to your rights under the GDPR, set out in section 4, we aim to give you strong controls on Our use of your data for direct marketing purposes including the ability to opt-out of receiving emails from Us which you may do by unsubscribing using the links provided in Our emails.
- Your Right to Withhold Information
- You may access certain areas of Our Site without providing any data at all. However, to use all features and functions available on Our Site you may be required to submit or allow for the collection of certain data.
- How Can You Access Your Data?
You have the right to ask for a copy of any of your personal data held by Us (where such data is held). Under the GDPR, no fee is payable and We will provide any and all information in response to your request free of charge. Please contact Us for more details at firstname.lastname@example.org, or using the contact details below in section 14.
- All Cookies used by and on Our Site are used in accordance with current Cookie Law.
- Before Cookies are placed on your computer or device, you will be shown a cookie prompt requesting your consent to set those Cookies. By giving your consent to the placing of Cookies you are enabling Us to provide the best possible experience and service to you. You may, if you wish, deny consent to the placing of Cookies; however certain features of Our Site may not function fully or as intended. You will be given the opportunity to allow only first party Cookies and block third party Cookies.
- Certain features of Our Site depend on Cookies to function. Cookie Law deems these Cookies to be “strictly necessary”. These Cookies are shown below in section 13.5. Your consent will not be sought to place these Cookies, but it is still important that you are aware of them. You may still block these Cookies by changing your internet browser’s settings as detailed below in section 13.9, but please be aware that Our Site may not work properly if you do so. We have taken great care to ensure that your privacy is not at risk by allowing them.
- The following first party Cookies may be placed on your computer or device:
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- Our Site uses analytics services provided by Google Analytics and Facebook. Website analytics refers to a set of tools used to collect and analyse anonymous usage information, enabling Us to better understand how Our Site is used. This, in turn, enables Us to improve Our Site and the products AND/OR services offered through it. You do not have to allow Us to use these Cookies, however whilst Our use of them does not pose any risk to your privacy or your safe use of Our Site, it does enable Us to continually improve Our Site, making it a better and more useful experience for you.
- The analytics service(s) used by Our Site use(s) Cookies to gather the required information.
- The analytics service(s) used by Our Site use(s) the following Cookies:
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- In addition to the controls that We provide, you can choose to enable or disable Cookies in your internet browser. Most internet browsers also enable you to choose whether you wish to disable all cookies or only third party cookies. By default, most internet browsers accept Cookies but this can be changed. For further details, please consult the help menu in your internet browser or the documentation that came with your device.
- You can choose to delete Cookies on your computer or device at any time, however you may lose any information that enables you to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
- It is recommended that you keep your internet browser and operating system up-to-date and that you consult the help and guidance provided by the developer of your internet browser and manufacturer of your computer or device if you are unsure about adjusting your privacy settings.
- Contacting Us
Mark Alexander - Founder of Property118
12:35 PM, 14th May 2014, About 9 years ago
It concerns me that you are asking these questions after having already made a decision to purchase - cart before horse?
If in doubt back out or at the very least find yourself an established management company.
I wish you well but remain concerned for you.
13:21 PM, 14th May 2014, About 9 years ago
When some landlords in Cambridge squeeze 6 rooms out of a 3 bed semi, perhaps 21 rooms isn't such a big house, and perhaps the sellers have included a cupboard or 3 in that number.
Even so, 21 tenants seems alot to handle, and the first thing I would do is speak at length with the council to make sure everything is in order with the arrangement, if you haven't already done so.
Mark's suggestion of an experienced management company here seems a very good one, you should be getting a very good income from 21 rooms, so plenty of scope to employ an agent.
13:27 PM, 14th May 2014, About 9 years ago
If I remember correctly Arsh Ellahi has a 23 bed HMO in the West Midlands. Google him as I am not sure he is on here. He is in Bolton today and tomorrow though at the Landlord & Letting Show. He only deals with LHA tenants.
Mark Alexander - Founder of Property118
13:34 PM, 14th May 2014, About 9 years ago
Reply to the comment left by "Peter Hindley" at "14/05/2014 - 13:27":
If you know him, why not invite him to become a member?
See >>> http://www.property118.com/membership/40048/
It's free 🙂
13:45 PM, 14th May 2014, About 9 years ago
I've only heard him talk at property meetings 3 times on the circuit & just exchanged pleasantries. I don't feel that it is enough contact really.
Mark Alexander - Founder of Property118
14:18 PM, 14th May 2014, About 9 years ago
Reply to the comment left by "Peter Hindley" at "14/05/2014 - 13:45":
OK, thanks anyway.
12:22 PM, 15th May 2014, About 9 years ago
I have an 11 bedroom HMO along with over 100 other small flats, studios, 1 beds. The 11 bed HMO gives me the least trouble of them all.
It all depends on the size of the rooms, how it's laid out, etc - so it's difficult to tell you exactly how to do it.
Ideally you need working tenants as they will respect your property, the other tenants & the neighbours. Many working people need this type of property because it is so expensive to live in your own flat with all the bills, etc.
However, you must think what YOU would want in their position. If you had to live in a bedsit with lots of other people due to money constraints - what would make it worthwhile?
1) You will need quite a few kitchens, so make sure there is maybe 1 on each floor and they are fabulous, clean, with a breakfast bar so they can sit & eat. Explain to the tenants on that floor that the kitchen is just for them, they need to clean after each use and they are not to go using the other kitchens. Put some small stickers on the doors with their room numbers on so they know what's theirs to use.
2) Bathrooms - same as kitchens - don't forget this is not a place somebody is putting up with for a week like a cheap hotel - make it really nice, like how you would want yours at home, make sure it's warm and clean and inviting.
3) Heating system - keep the boiler in a locked cupboard and set it for the coldest times of the day to be heated - or like you would do at home. Change the setting maybe 4 or 5 times a year as the weather changes.
4)Internet - provide a wireless internet that works throughout the house - who can live without it?
5) Living rooms, you'll probably need 2 or 3 for them to share. Put in Sky TV full package multiroom so it's in all the living-rooms, Sky sports, etc - the men will surely be happy if they can have the football on!
6) Pay a cleaner to go around at least once a week, hoover all the shared hallways, clean all the bathrooms and kitchens (including ovens) and put rubbish out, etc. Never rely on the tenants doing this! Include it in your rent pricing. That way you know that when you do a viewing on a room, the whole house will look clean & tidy and you are more likely to rent that room.
7) Keep the rents competitive against other landlords to keep your good tenants in your house. Over time you'll get a good crowd in who love it and are happy they have some money left from their wages to enjoy life - they won't want to leave. A lower than market rent also means tenants are more likely to pay on time as they don't want to lose their tenancy - knowing it will cost much more if they have to move.
8) Always look after the tenants and treat them like your family, they will then respect you and treat you the same - pay their rent on time & be less likely to call you out at 5 in the morning to fix something trivial.
9) You pay ALL the bills and include in the rent - never expect tenants to be able to split bills between them - it will never work!
Don't forget you'll need a HMO licence, the council will help you all the way with your obligations to make it SAFE, ie fire doors, fire alarm system, etc - they will also give you a copy of the regulations which will tell you how many bathrooms & kitchens you need for the number of tenants - so work with them and take their advice - But it's upto you to make it into a HOME.
I call them POSH bedsits and we don't have any trouble renting them.
Good luck - you can do it!
23:12 PM, 15th May 2014, About 9 years ago
Thanks for your practical advice.I am sure this will help me a lot. and i am amazed about the amount of property you have achieved.I have about 7 properties and bank are already cautious lending me for more. are you working with the same bank or different ones. I must admit i have no strategy how to progress with my portfolio.I work by instinct. i do first ,think later.
10:54 AM, 16th May 2014, About 9 years ago
I was buying in 2003/4/5 when prices were rising and banks were throwing money at people so it wasn't hard to get finance - commercial portfolio finance is where you want to be - you can hold multiple properties under 1 commercial loan, I have my portfolio split between 2 commercial providers and you can keep adding property to the loan as your buying.
I'm sure Mark can point you in the direction of finance opportunities.
The golden rule to buying is to do your homework first.
My main rule is ROI - RETURN ON INVESTMENT.
Your investment is the amount of physical cash your laying out at the beginning. (Deposit, fees, required work, furnishings, etc)
Your return is the amount of cash per year you will make over and above all expenses and mortgage payments (calculate mortgage payments at 6% to give you some leeway on rising interest rates).
House 1) If you are laying out £100k and your return is £15k per year that's a 15% return.
House 2) If your laying out £150k and your return is £15k that's a 10% return.
Choose House 1 every time!! This will maximise your return on your available cash.
Work this out for each property you are considering and it will surprise you which ones are the most profitable. It is easy to work out and that's all it takes to get your strategy right.
That's assuming that the capital values of the properties you are considering will rise equally well over time.
This ROI method will ensure you keep a good INCOME while you hold the investment, if there's no income don't bother - a rise in interest rates will wipe you out long before you can benefit from rising capital values.
Hold everything - minimum 10 years or forever - if they're earning good money why would you ever want to sell - just mortgage them up a bit after 10 years to release some cash if you need it. Buying and selling wastes money. If you don't want the hassle when your older just hand the keys to an agent and walk away, you'll still have an income for life.
Mark Alexander - Founder of Property118
12:52 PM, 16th May 2014, About 9 years ago
Reply to the comment left by "Yvonne B." at "16/05/2014 - 10:54":
Some very good points made here.
Our Landlords Calculator does all the hard work for you and presents the results in a nice simple format - see >>> http://www.property118.com/calculating-rental-yields-and-returns/
A very good broker to help arrange the facilities you are referring to is Mark Edwards - see >>> http://www.property118.com/introducing-mark-edwards/65509/