Reply to the comment left by Bristol Landlord at 20/10/2022 - 16:26
Hi Bristol Landlord, that's great that you're operating a non-inclusive model, how have your housemates responded to the rising costs? The majority of the HMOs in the Platinum network are bills included which has meant our landlords have needed to increase costs as they don't have control over household usage - of course we will see what happens next spring when the cap ends...! Fingers tightly crossed for some smart initiatives from Rishi!... Read More
Reply to the comment left by Peter G at 01/09/2022 - 14:40
Hi Peter,
As you can probably see on some of the other feeds on Property118 today there is a fair bit of discontent felt within the landlord community for governments current treatment of the housing market.
We're hopeful that the next PM will show greater understanding of there PRS and give the sector some room to breath, innovate and grow organically.... Read More
Reply to the comment left by Yvonne Francis at 25/08/2022 - 11:55
Hi Yvonne, wow it sounds like you provide an excellent level of service to your students!
We specialise in 'professional' lets but absolutely feel that this white paper is trying to treat all landlords the same way as single buy to lets.
The PRS needs a healthy mix of options for people in all walks of life (and at all ages) before they choose to become home owners (if that is what they want).
We hope the next PM listens to the concerns being raised by the sector and reconsiders some of the proposals in the paper.... Read More
Reply to the comment left by John Adair at 25/08/2022 - 09:48
Absolutely - its essential property owners have all the right tools in the box to run their business appropriately. Landlords don't want to feel powerless when challenges are raised, in the same way a corporate business owner would want to be able to address personnel issues in their company to ensure the wellbeing of all staff.... Read More
Great questions Sailus! Managing any size of HMO requires being really on top of all the latest legislation (landlord and tenant and property related). Where as some landlords may feel a property investment is a good little extra earner on the side, when it comes to HMOs we'd always recommend making sure you get the right training or support and guidance on going or commit to it and really get to know the ropes.
Ian raises some good points for you to consider, make sure you run your numbers and really sense check whether the plan works (especially if you are to allow for management and occupancy fluctuations!).
We'd always recommend thinking about how much you need to live on then work backwards from there. It may make more sense to acquire fewer properties generating a higher return than spreading your capital across lower yielding assets.
I hope this helps!
Best of luck!... Read More
Absolutely agree on the urgent need for sensible government legislation aimed at supporting the PRS rather than penalising it. The UK is facing a housing crisis and keeping a good quality mix of housing available is vital if we’re to see the situation improve for tenants.
We know from our network’s experience that co-living is a very viable option for people as they save for a deposit on their own property, and government support to ensure that the HMO sector is well regulated would be very welcome, rather than the current demonisation of landlords in the media which is simply not constructive.... Read More
Politically it feels like we have really lost our way. We seem very distracted as a country and unable to execute some really great, meaningful, long term focused strategies.
Good quality rental accommodation is an essential service and will be for many moons to come considering our forever growing population and lack of homes; scaring property owners out of the PRS is really short sighted however markets are forever evolving and absolutely need steering in the right direction.
Well informed regulation changes and introductions can be brilliant at helping industries and markets evolve (requiring all properties to be more environmentally friendly, fire safety standards etc. as examples are fantastic) however it would be great if this could all be achieved without landlords feeling bullied out of the sector and demonised in the media. More positive press exposing some of the good things that take place is long over due. When there is change, there is opportunity!... Read More
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Friday 8th July 2022
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Bio
HMO landlord and Managing Director of Platinum Property Partners - a property investment franchise offering a low-risk, cost-effective route into the premium HMO property market. Over the past 15 years Platinum has supported more than 400 franchise partners build their portfolios - which now total more than 1300 co-living homes across England.
https://platinumpropertypartners.co.uk/
15:03 PM, 24th October 2022, About 3 years ago
We've seen rent increases across the Platinum network to contribute towards the rising cost of delivery (our network generally operate an all inclusive model) and so far, demand has remained incredibly high for great rooms in shared housing. Having said this, as highlighted in the above, it shouldn't be overlooked the strain the rising costs and S24 tax changes have on the PRS as a whole with BTL landlords and ultimately renters being most painfully impacted. As a country, we need a wide variety of quality housing and a government which understands this. The final comments about responsible landlords being undervalued as contributors to the housing supply is spot on - lots of opportunity to improve!... Read More
14:49 PM, 24th October 2022, About 3 years ago
Reply to the comment left by Mark C at 21/10/2022 - 09:39
Hi Mark C, undoubtably costs have increased over the years however hopefully you have benefited from increased rents and appreciation. Who knows what the new PM will bring to the housing market however we hope your strategy is able to evolve in line with the recent changes leaving you in a position to continue growing!... Read More