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.
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- 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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- 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
8:17 AM, 16th April 2013, About 10 years ago
Suzanne (and Paul for the last time!!)
RGI, or LERG as I prefer to call it as it better decribes what the policy does (Legal Expenses and Rent Guarantee cover) is a policy taken out by a Landlord on a property to cover the rent and other issues on that property.
To qualify a tenant must pass referencing, and if they do not then they must provide a Guarantor who does. The policy is in the Landlord's name and they can make a claim for any breach of the tenancy agreement - non payment of rent, damage etc.
Insurance company pays out (in arrear and after deducting an excess) while pursuing a possession and money order in Court. Once vacant possession is achieved payments stop, though on really good policies (12 months rent covered, up to £4000 a month and 2 months after possession at 50% while getting property up together to market) the premium will be higher.
Mark Alexander - Founder of Property118
8:19 AM, 16th April 2013, About 10 years ago
@Suzanne - what is your agent offering you for £462.50? Will they get a professional inventory done, set up deposit protection protect your deposit for you and deal with the tenancy, RGI and any claims etc. for this fee?
If not they are expensive but you are stuck with that now so no point crying over spilled milk. If they are not including these things in their fees then you still need them and need to factor this into your calculations.
If they are providing all of these things then I'm sure there's a deal to be done with the firm I referred you to in order to reduce the £34.99 pcm.
In any event, the average tenancy length is 18 month so whilst it is still a roll of a dice as to whether you would be better off financially, it certainly makes sense to work with the business now which you will probably use next time around. I hope that helps 🙂
8:20 AM, 16th April 2013, About 10 years ago
SAVINGS AT RISK
I am sure Mark will publish a separate article on this warning of the dangers, but when I worked for Nationwide even in 1980 there was small print on the back of every new investment account application card, and in the small print of mortgage terms and conditions, that the lender could use other credit balances to set off against debts elsewhere.
NEVER, EVER have any investments of any description in any institution where you have a debt with them.
It used to be that actual true deposit accounts were excluded, my guess is now they are all vulnerable, not that many people have true deposit accounts (they pay a lower rate of interest - if that is possible these days!! - in return for greater security.
Mark Alexander - Founder of Property118
8:24 AM, 16th April 2013, About 10 years ago
@IO - the "better" policies you are referring to cost around 3% of rent in my experience. In comparison to policies costing less than £100 my opinion is that the extra premium does not make them justifiable. What's the cheapest you've found a "better" policy matching the terms that you have outlined?
Mark Alexander - Founder of Property118
8:27 AM, 16th April 2013, About 10 years ago
@IO - I have indeed published a seperate article just recently about Barclays offset mortgages, see link below.
8:34 AM, 16th April 2013, About 10 years ago
RENT IN ADVANCE
I am afraid the solicitor is mixing things up here. A clause stating no sub-letting/assignment etc may work in some instances but NOT if the tenant actually has the legal right to sublet because it is a Premium Lease. The whole issue here is where the solicitor is right, that an AST is not so affected and the prohibiting clause will stand.
Where the solicitor is dangerously wrong is in saying provided you call the payment rent and not a deposit that this OK and solves the problem. I am afraid that is very much not the case, if it waddles and quacks you can call it a dog if you like but it doesn’t stop it being a duck.
The Statute is extremely clear on this and deliberately so, specifically to prevent situations like yours where by calling money rent you deny it is a deposit. I am afraid the definition on the 2004 Act makes it very clear you can call what the tenant hands over what you like but if it is held in contemplation of a future obligation i.e. to pay future rent then it is a deposit. Seems simple common sense to me as otherwise why are you taking the 6 months up front if not for the comfort of extra security i.e. making sure the rent is paid?!!
You are still in dangerous waters if you are taking a 2 month deposit if you do not then register that 2 month amount as a deposit. If a month is held back as some sort of protection against non payment one month I am afraid you are sunk.
This is the “floating rent” the sols referred to and makes you guilty of a TDP offence.
One of only a couple of solutions is the adapted wording I suggested. Anything else will not work.
Suggest you tell agent to change solicitor
Johnson v Old may clarify this issue but I wouldn’t put money on it, though I hope it does.
8:38 AM, 16th April 2013, About 10 years ago
You will be lucky if £27K a month will pass referencing for the Guarantor. Most referencing companies these days allow 35% of gross income to cover rent. On an £11000 annual rent that needs an income of around £32K a year and that assumes no other major expenses on the part of the G'tor such as their own rent/mortgage or finance commitments etc
8:41 AM, 16th April 2013, About 10 years ago
Mark you are right in one sense, but as with everything in life you only get what you pay for.
3% was the premium LETsure and then Homelet charged for their GOLD policy which was always the best on the market.
Originally covering £2000 pcm rent ir increased to £4000 several years ago, paid out for 12 months plus the 2 months at 50%, had legal expenses up to £50K and cost 3% of rent.
I agree for many Landlords that would be too good a cover - not if you are renting in Central london though and it takes 9 months to achieve possession. Then you are glad you went the extra mile, or paid the estra 1% or so on the premium.
Horses for courses I agree. Couldn't tell you anything about cheap insurance for anything - cars, houses, rent, holidays - and so on as in my experience as I say you get what you pay for.
12:43 PM, 16th April 2013, About 10 years ago
IO I have to disagree with your RGI contention.
For £99.00 including the RGI check it costs £99.00 for a year's policy.
This has NO policy excess if you wish cost me an extra £10!!!
Is for £50000 per claim until eviction even it takes 4 years to evict
Includes legal costs and recovery for the RGI company.
though i don't think mine covers past eviction.
Homelet and Letsure are unecessarily expensive in my opinion.
My RGI company policy works I have the £10333 as the EVIDENCE!
I could not and I would choose not to use the companies you quoted.
I absolutely concur with your last post about the workings of RGI; you said it better than me; I had been trying to state what you have succintly stated.
13:12 PM, 16th April 2013, About 10 years ago
You pays ypour money and you takes your choice.
Suffice to say that what matters in matters insurance related, on any type of cover, is the quality of the underwriting. You simply do not get quality underwriting EVERY TIME with cheap policies. End of