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
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- 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 firstname.lastname@example.org, 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;
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- Business/company name and trading status;
- Number of properties owned;
- Accountants details;
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- Proof of residence and ID;
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- 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:
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- 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;
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- 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.
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- 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?
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- Contacting Us
3:43 AM, 7th March 2012, About 11 years ago
I think you will find that your cashflow will substantially reduce when UC in introduced.
Made even worse when council tax has to be managed by councils.
Who will say only 80% wil be funded leaving the LHA claimant to pay the remainder.
This will have a downward effect on the rents you will be able to achieve.
If your properties are only suitable for LHA you will have to accept reduced overall rents
If I was you I would get out of LHA property and invest in decent private let property.
Hope you have any hidden gas flues sorted before 1.1.2013 otherwise no hot water or central heating on New Year's Day for your tenants unless you want to risk a manslaughter charge and end up in prison.
I think you will find that your 30% differential rapidly disappears when the above circumstances are introduced which will be in 2013.
It is about £400 per property to have the inspection hatches fitted.
I find that I make a 30% differential on private rents rather than LHA who I have found are a complete pain to bother with.
So I don't.
I make far more out of private than LHA tenants any day.
Mark Alexander - Founder of Property118
7:27 AM, 7th March 2012, About 11 years ago
Paul, I have had the benefit of knowing John Paul for quite a while and I have read all 8 of his articles. Don't be too quick to judge, he's a good man and his articles will help dispel some of the pre-conceptions you hold about LHA tenants.
11:14 AM, 7th March 2012, About 11 years ago
I find it amazing that LHA rates are a LOT higher than the normal rent levels in lots of local areas. I am starting to think that LHA rates should be calculated based on the MAX of the 30th percentile of rents in the local area as well and the 30th percentile of rents in the very large Broad Rental Market Areas.
For example in Manchester the LHA rate can be very high in some area, as the Broad Rental Market Areas are includes lots of “upper class” areas with the inner city areas.
(I think this is also why such good money can be made by LHA/HMO landlords in Haverhill as the rent area includes Cambridge)
Or maybe only rent paid by people with a below medium income should be included when working out the LHA rates.
It is a shame that there is not an effective way to reward LHA tenants that choose to live somewhere cheaper – way should a person get a lot less money from the government just because the choose to live in a HMO rather than a flat? Likewise for someone that chooses to relocate to an area with better value housing.
The fact that the profits including costs of damage and unpaid rent are so much larger renting to LHA in some areas proves there is an issue with LHA rates being too high in these areas.
I look forward to a very interesting set of articles on how to exploit a poorly designed welfare system.
19:15 PM, 7th March 2012, About 11 years ago
I am an LHA landlord of 12 years experience. I find it a very lucrative market from a business perspective but also from a personal perspective I gain some satisfaction in giving some of our more vulnerable members of society a safe roof over their heads. John Paul is very experienced in this field and has great knowledge and expertise and is well worth listening too. I look forward to his articles. LHA is a niche market and I accept its not everyone`s cup of tea but when I advise other investors on the merits of the LHA market I hopefully dispel some of the pre- conceptions that some investors like Paul Barrett unfortunately hold. Many then see the financial advantages of the LHA market over the private one. This will hold true in many areas but by no means all.
Frequently I read or hear negative perceptions about LHA tenants themselves which are simply not borne out by my own experience. The system as Ian says is somewhat poorly designed and so is its day to day management by the councils. The management of LHA tenants can be intensive at times but by careful selection of the right tenants at the outset I will often in fact gain someone who is a real asset and quite willing to add value themselves to a property as they are so grateful to be given a chance in life to have their own accommodation. Their expectations are often not as high as private tenants so less money is needed to be spent on refurbs, maintenance and renewals.
Where I invest in Milton Keynes it is possible to buy a property in a local authority estate with yields getting on for 10% whereas in a principally private estate not quarter of a mile away you would pay almost twice as much for a house with practically the same rental income. The figures stack up very well with an LHA model I find. Paul Barrett has consistently held an anti LHA stance because of his own unfortunate experiences which seemed to have coloured his judgement somewhat. I have about 20% private and 80% LHA in my portfolio so I feel I can see the pros and cons of both sectors. No one yet can give a factual view on how UC will affect LHA landlords. There is a distinct, albeit painstakingly slow move at government and local council level to support more and work more in unison with the PRS sector and in particular the LHA landlord. Housing is as we know in very short supply and the PRS sector increasingly picks up the overflow. It is in everybodies interests ( councils / landlords/tenants alike ) to work together effectively to ensure the LHA market thrives and best use is made of the limited public purse
20:55 PM, 7th March 2012, About 11 years ago
Great post Jonathan but then I have come to expect nothing less from you.
We are all one P45 or broken relationship away from an LHA tenant and like all tenants if you choose carefully they can be great long term tenants who do not expect a landlord to "send a little man around" as do some other tenants every time a light bulb needs to be changed.
John Paul is well known as an expert with this client group and has worked over many years to find solutions to any issues that concern landlords who let to tenants on LHA. I too look forward to his articles.
There are many of us working hard all over the country to ensure that UC does not put landlords off and in fact some of the solutions will make the situation much better for many landlords.
23:07 PM, 7th March 2012, About 11 years ago
I have to say I don't have adowner on LHA.
It is just that we all have different circumstances.
I am not saying the LHA model is not as equally valid as a PRS tenant.
We all have relevant property circumstances which facilitate certain types of tenant.
I need to achieve the highest rents I can and for my circumstances the PRS delivers the highest rents.
I will not and am not decrying anyone who choses the LHA investment strategy.
For me it is presently more efficacious to have PRS tenants.
This of course could change in the future.
We all purchase at different times and in different areas and diferent property types.
There is no wrong or right way of choosing different tenant types.
It generally is all a matter of timing as to what you end up with.
9:10 AM, 8th March 2012, About 11 years ago
interesting article although he doesn't look old enough to have had such experiences what this article shows me or proves to me from my experiences is not that every one has their own road there are absolutely no guarantee that you or i can be in the same predicament as young john,we do not know for a start how he got to where he is you could say through hard work yes of coarse why not. For a start the fact that he runs the Castledean group ,which came first,the agency or the property portfolio or perhaps both along side each other make no mistake this is very clever but borders on the illegal one should not be allowed to do both one or the other the reasons are obvious .This tells you also why he receives more money from the councils he works with ,simply the council will pay an agent more for the properties put to them by him because they are paying a higher rate to such persons i know this because i have been on the receiving end from no less that three separate councils .Firstly if you try to place your home with them you will struggle for a no of reasons, secondly if you do happen to provide your property the contract will be useless to you that is, thirdly and the point we are making you will be offered much less that the open market ,an example of this a London borough invited to look at a property semi- detached currently open value between £1200 and £1400 the council makes an offer of £800 and a max of £850,i know for a fact the same type of property in the same borough an agent/housing provider is receiving £1400 , can you tell me whats wrong with this picture. Therefore the stories are nice but in reality its all dependent on the individual circumstances . PARA 3 with the right information, i am MD Castledean management/ GROUP OF LETTING AGENCY, PARA 4, 7.46 m people receiving housing benefit and unemployment that's around 10% ,i would rather see these persons working and paying their way rather than companies such as Castledean draining 30% higher than average 7%/10% this is not the norm you cant all do the same no harm in trying if you like you only learn from experience.
9:16 AM, 8th March 2012, About 11 years ago
I am a great fan of this news letter but have never commented before. I must however take issue of the opening sentences of the article..."in some ares LHA rents are 30% higher than in the private sector".... I am sorry but If in a nutshell this phrase sums up your investment stategy all I can say is that is morally I find it disturbing. I am not a philanthropist and aim to make money from my small portfolio but to be able to exploit a market - which is an oxy moron as it is clearly not operating properly - is something I could never be comfortable with..
Mark Alexander - Founder of Property118
9:18 AM, 8th March 2012, About 11 years ago
John Paul made his money as a world ranked UFC cage figher and wisely invested into property. You're right, he's not that old but for a bloke who was previously punched in the face and kicked in the head for a living he's a pretty sharp cookie. My understanding is that he built both businesses from scratch and went on to acquire other letting agencies and is still doing so in order to grow his empire. as for experience, I think managing over 1,000 LHA properties and having 17 NFOPPS qualified staff kind of speaks for itself don't you.
John, if you are reading this, please feel free to step in at any time.
10:24 AM, 8th March 2012, About 11 years ago
hi mark firstly thanks for your input it is your site after all but i do not appreciate the fact that in your wisdom you think that telling me that John Paul being a world ranked UFC cage fighter ,is it your opinion that now i shake in my boots through intimidation or i take it that this young man has genuinely had to earn his money through hard work , which is great as a fan of sport great to him . And yes he may be a sharp cookie ,i think you have answered your own question though a thousand properties and 17 NFOPPS working for him .but i would like to know what your point is with this story is it the fact that a young cage fighter has made his money from fighting and invested in property and agencies therefor every one can do it . if it were that easy would not all the other fighters do the same if it were about making money , the same goes for other sports persons i have heard quite a few footballers have large portfolios ,the common denominator is the amount of money they have CASH FLOW in the real world people do not have such capitol ,yes they can buy one or two/three and can borrow on them to buy more but realistically you will never envisage to pay for them but you can make money there is no question on that but i will stick with what i know as facts and my situation. And by the way great respect to a sportsman who has been able to diversify and make his earnings work for him respect to that because most end up broke .By the way Mark i am not here to question as to how the person made his money or what he does or even if he wrote the artical him self its mearly my opinion that not all will be able to do the same ,the question still arises as to the fact is it right that estate agents are able to buy property for them selves and build a property portfolio for rental purposes i think this is a grey area in fact is it not an area which many estate agents have abused in the past the question being in this now supposed open world is this ethical ? i don't know who am i to say .