Privacy Policy
BACKGROUND:
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.
Please read this Privacy Policy carefully and ensure that you understand it. Your acceptance of Our Privacy Policy is deemed to occur upon your first use of Our Site
. If you do not accept and agree with this Privacy Policy, you must stop using Our Site immediately.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
“Account” |
means an account required to access and/or use certain areas and features of Our Site; |
“Cookie” |
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; |
“Cookie Law” |
means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003; |
“personal data” |
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 |
“We/Us/Our” |
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 npatterson@property118.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?
This Privacy Policy applies only to your use of Our Site. Our Site may contain links to other websites. Please note that We have no control over how your data is collected, stored, or used by other websites and We advise you to check the privacy policies of any such websites before providing any data to them.
- 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?
Depending upon your use of Our Site, We may collect some or all of the following personal data (please also see section 13 on Our use of Cookies and similar technologies):
- Name;
- 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?
- We may, from time to time, expand or reduce Our business and this may involve the sale and/or the transfer of control of all or part of Our business. Any personal data that you have provided will, where it is relevant to any part of Our business that is being transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this Privacy Policy, be permitted to use that data only for the same purposes for which it was originally collected by Us.
- 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.
- You may restrict Our use of Cookies. For more information, see section 13.
- 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 info@property118.com, or using the contact details below in section 14.
- Our Use of Cookies
- Our Site may place and access certain first party Cookies on your computer or device. First party Cookies are those placed directly by Us and are used only by Us. We use Cookies to facilitate and improve your experience of Our Site and to provide and improve Our products AND/OR We have carefully chosen these Cookies and have taken steps to ensure that your privacy and personal data is protected and respected at all times.
- 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:
Name of Cookie |
Purpose |
Strictly Necessary |
JSESSIONID |
Used only to collect performance data, with any identifiable data obfuscated |
No |
__cfduid |
This cookie is strictly necessary for Cloudflare's security features and cannot be turned off. |
Yes |
- 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:
Name of Cookie |
First / Third Party |
Provider |
Purpose |
__utma, __utmb, __utmc, __utmt, __utmz |
First |
Google |
Helps to understand how their visitors engage with our website |
_fbp |
First |
Facebook |
Helps to understand how their visitors engage with our website |
- 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
If you have any questions about Our Site or this Privacy Policy, please contact Us by email at info@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. Please ensure that your query is clear, particularly if it is a request for information about the data We hold about you (as under section 12, above).
- Changes to Our Privacy Policy
We may change this Privacy Policy from time to time (for example, if the law changes). Any changes will be immediately posted on Our Site and you will be deemed to have accepted the terms of the Privacy Policy on your first use of Our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.
Mark Alexander - Founder of Property118
20:35 PM, 3rd February 2020, About 4 years ago
Reply to the comment left by at 03/02/2020 - 20:19
What do you mean when you say “so that you can improve”?
Like Dennis has said, I think they are brilliant. In fact, so brilliant that Property118 now owns 25% of the shares in their company.
I know Chris Sheldon well enough to be confident that if he had a rep who was as disinterested as you suggest, that rep will be long gone and replaced by now. I will have a chat to him though.
Dennis Forrest
20:46 PM, 3rd February 2020, About 4 years ago
Reply to the comment left by Mark Alexander at 03/02/2020 - 20:35I think it depends on how lucky or unlucky you are with the local manager and the quality of the person who takes the photos and does the viewings. Because other have been pleased it seems to me that I was just 'unfortunate'. Pity it cost me nearly £2,000 to find out. By all means speak to Chris Sheldon, I remember the name . Do not get upset by constructive criticism, dealing with this is how businesses improve. I started my own retail business at the age of 25 and sold up and retired at the age of 54. I was always prepared to learn from my suppliers and my customers.
I think that Romans got offers so quickly was not just by chance but by their professional attitude to prospective tenants and their interest in my property
Dennis Leverett
23:40 PM, 3rd February 2020, About 4 years ago
Reply to the comment left by at 03/02/2020 - 20:46
I fully understand what you are saying having had bad experiences with various agents myself. I can only go by my experiences and I have to say the lady who dealt with us, not sure if I'm allowed to mention her name, was probably the most professional person I've ever dealt with re: property letting and had a great personality to go with it, love her to bits. She gave us lots of good advice on things we hadn't considered important which we acted on and thank her dearly. I also have to say thanks to Mark Smith and the Property Meet Video, very concise presentation, easily understood and very helpful in considering my future. Thanks.
Dennis Leverett
23:54 PM, 3rd February 2020, About 4 years ago
Reply to the comment left by Dennis Leverett at 03/02/2020 - 23:40I meant to add, I started on my own at 25, I've employed lots of people over the years and sometimes you get it wrong but mostly you get it right and those are the ones you look after. I've not made millions but am comfortable, asset rich, and have a great family, lovely children and grandchildren who all seem to have inherited my work ethics and at 70 am so proud of all of them.
Dennis Forrest
8:05 AM, 4th February 2020, About 4 years ago
Reply to the comment left by Dennis Leverett at 03/02/2020 - 23:54
Dennis, it is a shame that the lady you used was not covering the Windsor area at the time I was trying to re-let my property. I feel sure that like you, I would have been very pleased with the outcome.
JC
0:49 AM, 6th February 2020, About 4 years ago
I also do not have a great experience with LettingSupermarket. I used them because Property118 promoted them and thought they had credibility. Similar experience with yours, not proactive, I am doing all the chasing of rent arrears and finding out updates etc. I just got an email recently asking what to do as tenant highlighted one of the radiators was not working (no further details or recommendations). I would expect any letting agents to at least recommend some solutions to the tenant like bleeding that particular radiator or at least visit the property to find out what exactly is wrong. To me that is what Full Management service is about, and not just passing tenant complaints to me.
Paul Simmons
9:42 AM, 8th February 2020, About 4 years ago
First of all apologies for everyone that knows this but felt compelled to comment on video.
The problem as with many people giving information on property. You are using statistics which are not relevant to today’s investing.
Disclaimer: I am still buying certain types of property and you can still find a ‘good buy’ but this take normally a ‘good eye’, time, a track record of portfolio for best rates and ltd company bank deals etc.
Property is still good to a point but anyone that has not invested in property please take into consideration the following if first getting into it. Because it has no relation to investing in shares, index funds etc.
Forget reading about the general media and old statistics of property values increasing. It has to do with regions, towns, cities and areas in these places and type of property. Also, how much they lost in value in during 2007/8 recession. I have a mix of flats, maisonettes, family homes and HMO’s.
Example;
Hastings
Brought 1 bed split level flat
£69,000 (fair condition)
Goodish buy 2003.
Worth today (17 years later) £120,000. Needs a compete refurbishment after being tenanted. Has it been worth it in terms of rental income. Not really after service charges, Block refurbishment and major works, lease extension, boiler, selective licence, tenant damage etc etc.
2003 rent £450
2030 rent £565
Brighton, Southwick 2 bed maisonette
£79,000 (brought 2001)
Today’s sale price £250,000 in good condition
2001 rent £500/525
2020 rent £925
Brighton (5 minutes from station) 1 bedroom flat with garden
Brought £135,000 needed refurbishment
Value £260,000 very good condition
Brought 2008
Value 2020
Rent 2007: £640
Rent 2020: £840
I could give more but believe me. The best gains were made in London generally in last jump. Then in East London, Hackney etc when in become more hip and Gentrified. Maybe central Manchester/Liverpool. (Not my area)
1995/6 to 2004 - Very good uplift for most of country especially SE.
If you Missed this then the gains over 30 years will not be what it was and capital appreciation now needs to be considered very carefully.
As a Mark said, you are missing so many points in the general things you have to deal with. Especially with certain types of properties which all vary;
But here are some for Novice landlord. By all means property can be good but the model of buying 5 with 20% down and it’s all amazing in returns is a slight urban myth;
Consider;
Gas Safety
Select licensing
Fire assessment/direction4/
Electrical certification from April
EPC
Inventory costs
Managing agent fees
Deposit fees for registering deposits
Account fees
Service charges
Major works for flats
Tenant damage
Rent arrears
Arrangement fees (eats into capital every 2 or 5 years)
Morgage Broker fees
Solicitor fees on remortgages
Lease extensions
HMO licence fees
Single room agent fees for new room let’s
Insurance for house or rooms
Re-touch up every time tenant moves out/to keep property in ok condition
Refurbishment- when you have property 20/30 years it needs a fair bit of new carpets/kitchens/bathroom stuff done or completely redone. No one talks about this when comparing with a Passive low fee index fund.
Rent arrears
Court claims (will happen one over this time)
If you have enough properties you will also have complete refurbs because of a fire/bath left on/ nightmare tenant etc.
Even with good tenants.
Dealing with agents whether managed or not
Contractors (have to have a good team but still takes ability to deal with this efficiently)
Cost of your time
Morgage relief issues
Yes, you will get phone calls a bad times of self managing and if letting agent they will still contact you as you need to keep an eye on what is being spent on what and is it necessary. Even if a good agent.
This is why post property investors have to make money through other means. Older investors will be in a much stronger position because of time having property.
So, have a have a good think when comparing to shares and you have to buy correct or wait a longtime to make a really good return. Also, think where you are buying!
Also, rates are at a never to be again this low. If they double it will cripple many newer landlords.
Dennis Leverett
11:56 AM, 8th February 2020, About 4 years ago
Reply to the comment left by Paul Simmons at 08/02/2020 - 09:42
I think that just about sums it up, be aware of the "experts" that want to sell you something. If starting up, go to a few property meets in your area and talk to those that actually do it.
Mark Alexander - Founder of Property118
12:15 PM, 8th February 2020, About 4 years ago
Reply to the comment left by Paul Simmons at 08/02/2020 - 09:42
Very well said!
I know some newbies are taught by their guru’s that those of us who have been in the business for many years are pulling up the ladder behind us. However, that’s not true. The reality is that we have seen ever increasing legislation that has made investment into the PRS far less viable than it was in the past.
I wish any newbies all the very best and would recommend they take professional advice on the optimal ownership structure before they start, because it not as simple as buying a £100 off the shelf company or buying your own name if you want to build a legacy for your kids.
David Lawrenson
18:07 PM, 13th February 2020, About 4 years ago
Wow, you have got a great deal of good advice here from Mark A and others!
Agreed with previous comment that not all areas and types of property move in the same way over time. They are very divergent. And the example of Hackney, given by someone above, (and many parts of inner E and SE London over the last 20 years vs say Middlessbro would be a good example)
We made most of our money buying ahead of new rail and tube links that had been given the go ahead to be built, which fortunately for us were also within an hour of where we live. (Jubilee Line extension, Dockland Light Railway extension and revamp / extension of the old East London line - all in SE London. Now we sit and wait for the extension of CrossRail to Gravesend / Ebbsfleet - a matter of time).
I generally advise my clients to buy within an hours drive of home, unless there are overwhelming and compelling reasons to buy further afield.
Also, houses have in most areas far outperformed flats. Developers can always build up and buy more flats, only God (and some very big earthquakes) can create new land). So the supply of houses is constrained.
Show agents you have the money - yes show them the statements showing this on it. No waiting for mortgages and surveyors and all that rigmarole. More on buying BMV from agents here: https://www.lettingfocus.com/blogs/2015/11/buying-below-market-value-from-estate-agents/
Offer estate agents the lettings business if you end up as the buyer.
Control the business of finding tenants - and keep a tight rein on what agents are doing in this regard for you. Get a bad tenant and your heart and health will suffer. Lots of good advice on how to do this in my book, "Buy to Let Landlords Guide to Finding Great Tenants".
David Lawrenson
http://www.LettingFocus.com
Landlords Cosultancy