Keystone Asset Management Ltd – Voluntary Administration

by Readers Question

18:12 PM, 25th January 2015
About 4 years ago

Keystone Asset Management Ltd – Voluntary Administration

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Keystone Asset Management Ltd – Voluntary Administration

Keystone Asset Management Ltd - Voluntary Administration

On Thursday, 22 January 2015 I received a call from Keystone Asset Management Ltd to tell me that the directors had requested that the company be put into Voluntary Administration. They main issue here is that Keystone Asset Management Ltd were operating a number of HMO’s in and around Barnsley & Rotherham for their clients on a guaranteed 12% return.

I now have a 4 bed HMO in Rotherham and need help to gain knowledge of the tenants and manage the property.

Can anyone help?

Many Thanks

David Davies



Comments

Mandy Purkiss

12:10 PM, 26th January 2015
About 4 years ago

Hi David

I may be able to help you, we currently own and manage several HMO's in the Rotherham and Barnsley area.

**CONTENT REMOVED BY MODERATOR**

**We do not encourage readers to post their contact on our forums as had been suggested by Mandy. If members wish to solicit business from other members please see our House Rules >>> http://www.property118.com/house-rules-business-sponsorship/ - THANK YOU - MODERATORS COMMENTS END **

Regards

Mandy Purkiss

Neal Craven

12:35 PM, 26th January 2015
About 4 years ago

David

I have contacts who may be able to help if required.

Mandy Purkiss

13:50 PM, 26th January 2015
About 4 years ago

Reply to the comment left by "Mandy Purkiss" at "26/01/2015 - 12:10":

apologies for not reading the rules before posting for the first time.

Mark Alexander

15:09 PM, 26th January 2015
About 4 years ago

Reply to the comment left by "Mandy Purkiss" at "26/01/2015 - 13:50":

No problem, we are used to it.

It's, nevertheless, a pleasure to welcome you and we hope that you will want to become a sponsor.
.

Robert Mellors

18:36 PM, 26th January 2015
About 4 years ago

Hi David

I lease properties from private landlords and then sublet them as HMOs (with the owner's permission). I've been doing this since 2004. I have HMO and self-contained properties in the Maltby area (between Rotherham and Doncaster). I'm not interested in taking on your property, as I am inundated with offers of properties (and have more tenant referrals than I can handle) so I can add to my lease portfolio whenever I want. However, I do have contacts in the Rotherham area, and I do understand the HMO market, so if you want a chat about your options then I'm happy to meet up over a coffee.

Have a look at some of my other postings on this website, as many are about HMOs (particularly DSS/LHA residents).

Mark Alexander

19:19 PM, 26th January 2015
About 4 years ago

Reply to the comment left by "Robert Mellors" at "26/01/2015 - 18:36":

I wasn't aware that you were a Rent to Rent landlord Robert.

I have always been impressed with your comments which are a clear demonstration of your knowledge of the HMO market though and if David would like to post a comment giving me permission to forward your email address to him (I have both yours and his) then I will be happy to do so 🙂
.

Robert Mellors

19:51 PM, 26th January 2015
About 4 years ago

Reply to the comment left by "Mark Alexander" at "26/01/2015 - 19:19":

Hi Mark

I own some properties myself, but I also lease properties from other landlords. I specialise in removing the barriers that DSS/LHA tenants face when trying to access private rented housing (no deposit, no rent in advance, poor credit history, etc), thus I deal with all the potentially "high risk" tenants that most other landlords do not wish to assist. Some work out well and are lovely people, but some are "tenants from hell" and are a nightmare to deal with, but having been a DSS/LHA tenant myself I try to give them all a chance to prove themselves as good tenants.

Yes, you can give my e-mail address to David.

Mark Alexander

19:57 PM, 26th January 2015
About 4 years ago

Reply to the comment left by "Robert Mellors" at "26/01/2015 - 19:51":

Will do.

Very interesting post BTW, how do you and your landlords deal with the property insurance related issues in respect of this strategy?
.

Robert Mellors

21:53 PM, 26th January 2015
About 4 years ago

Reply to the comment left by "Mark Alexander" at "26/01/2015 - 19:57":

I take all the risks in terms of tenant behaviour, i.e. if tenant damages the house then I have to put that right. Likewise I take the risks for non payment of rent by the tenants, so that the owner gets paid their rent throughout the 5 year lease term even if I am not receiving rent from my tenants/licensees.
For standard insurable risks (burst pipe, tiles blown off roof, burglary, etc) then the owner is responsible.
I cannot get insurance as I have no legal interest in the property, but the owner has to have buildings insurance as a minimum.

Mark Alexander

22:21 PM, 26th January 2015
About 4 years ago

Reply to the comment left by "Robert Mellors" at "26/01/2015 - 21:53":

Yes I get that, but how easy is it for landlords to insure the buildings on that basis? Would the insurers pay out if it was burned to the ground by a tenant for example?
.

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