Fed up with all the landlord bashing – What’s the alternative?

by Readers Question

11:37 AM, 26th July 2018
About 11 months ago

Fed up with all the landlord bashing – What’s the alternative?

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Fed up with all the landlord bashing – What’s the alternative?

I am a portfolio landlord and now fed up with all the legislation and landlord bashing from the government.

Can your reader advise us of any safe alternatives to BTL investments.

We want to retire and ideally like hands off investment if possible.

I have couple of hotel room investments but not sure how safe they are although returns are quite good.

Many thanks

Jahangir



Comments

J C

15:05 PM, 1st August 2018
About 11 months ago

Reply to the comment left by Rob Crawford at 01/08/2018 - 14:57
They need estate agent with DASH accreditation. I was told LettingSupermarker does not have the accreditation.

Rob Crawford

16:27 PM, 1st August 2018
About 11 months ago

Reply to the comment left by J C at 01/08/2018 - 15:05
DASH is a landlord accreditation scheme. There are a number of similar schemes. Consider-Rate is another. A letting agent that operates on a national scale can't join them all. If there was a national scheme recognised by all Local Authorities then I am sure they would be interested in signing up.

Mark Alexander

16:50 PM, 1st August 2018
About 11 months ago

Reply to the comment left by Rob Crawford at 01/08/2018 - 16:27
Surely the ARLA, NALS, RICS qualifications should be enough and the localised qualifications are inferior to those?

Accepting the Dash accreditation only is ludicrous, and probably illegal too.

J C

16:59 PM, 1st August 2018
About 11 months ago

Reply to the comment left by Mark Alexander at 01/08/2018 - 16:50
Totally agree.

I have NLA accreditation as well.
The licence can be held by whoever is managing the property including estate agent, and to me, it make sense for the agent to have the accreditation and licence (which I am responsible to pay for) as I am 200 miles away as an investor.
Surely whichever estate agent has the accreditation will make a killing in those areas for investors like me.

Rob Crawford

17:16 PM, 1st August 2018
About 11 months ago

Reply to the comment left by Mark Alexander at 01/08/2018 - 16:50
I can see that the management of an HMO or selective licensed property would require additional needs such as a designated responsible person within x number of miles, someone to test fire alarms, maintain communal areas etc. But these issues can normally be organised. What Dash & Consider-Rate offer that ARLA etc don't is physical checks on individual properties (but don't licence holders pay the council to do this!). More work would be required of the agent if fully managed by them, ie if the owner lives abroad.

Mark Alexander

17:20 PM, 1st August 2018
About 11 months ago

Reply to the comment left by Rob Crawford at 01/08/2018 - 17:16
But LettingSupermarket.com do have local agents who are available for property inspections, check ins, check outs etc. They also do inventories and floor plans.

What the Council appear to be saying is that the ARLA qualifications are not good enough, and that the local qualification they have chosen to adopt is somehow superior.

It's madness, pure madness!

I also think their stance could be in breach of the restrictive trade practices act, as well as this recent Court ruling in regards to Selective Licencing, which everybody appears to have overlooked so far https://www.property118.com/selective-licensing-scheme-additional-powers-ruled-illegal-court-appeal/

J C

17:31 PM, 1st August 2018
About 11 months ago

Again totally agree with you.

We are already paying £780 for the licence and the council do make their inspections.
They do not recognise my NLA Landlord accreditation and ONLY accept DASH.

Appears to me a double money making schemes and would be interesting to know who is behind all these decisions.

Mark Alexander

17:33 PM, 1st August 2018
About 11 months ago

Reply to the comment left by J C at 01/08/2018 - 17:31
Will you be taking this up with them?

Mark Alexander

17:36 PM, 1st August 2018
About 11 months ago

If all else fails in regards to making complaints to Nottingham Council, you should notify them that you are intending to escalate your complaint to https://www.lgo.org.uk/ and then follow though with your threats.

Apparently, Councils are more afraid of complaints going to LGO than anything else you could threaten them with.

J C

17:39 PM, 1st August 2018
About 11 months ago

Reply to the comment left by Mark Alexander at 01/08/2018 - 17:36
Have not got plans to challenge yet.

I am an investor and would have thought landlords who are very involved would have already picked this issue up.

I have spoken to NLA and I think they are looking into this.

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