Paul Green

Registered with Property118.com
Wednesday 15th June 2016


Latest Comments

Total Number of Property118 Comments: 135

Paul Green

14:51 PM, 4th May 2018
About A year ago

My own landlord's GDPR policy

Hi Robert, I,d like a copy too. My email is as follows:
Ian.green107@gmail.com
Kind regards... Read More

Paul Green

14:55 PM, 23rd April 2018
About A year ago

Should I invest my pension lump sum in another buy to let?

Oh and buy a 12 month landlords rent guarantee insurance policy, this way your retirement income will be paid either buy the tenants or the insurance company, whilst they evict them, all you need to do is arrange a locksmith on the day the bailiffs come calling. Reminder it’s not personal when a tenant does not pay their rent , it’s business as usual. You won’t lose no sleep with a rent guarantee policy, knowing your money is coming in every month regardless of who’s paying it. I’ve had two rough tenants in 15 years that’s out of about 20 tenants and both times I was insured. & they all passed tenancy references Phew! One used identification from a real person being deported and the second had a nervous breakdown ....... Read More

Paul Green

13:35 PM, 23rd April 2018
About A year ago

Should I invest my pension lump sum in another buy to let?

If I were retiring, I would want a buy to let investment that I could let out and forget about for most of the year, So I would not go down the HMO ( House of multiple occupancy) route. I would consider a new build, as they are modern and desirable to tenants, and almost hands off as the gas central heating, boiler and white goods are brand new. Although you will be paying over the odds and your will have to be careful about the ground rent potentially doubling every 5 years or at least increasing by the RPI (retail price index) which was quoted to me as 4.95% on a mobile phone contract that recently increased this year. Plus the monthly service charge will eat into the monthly rent too. Britain’s leasehold industry is broken and needs a massive overhaul as their are some scandalous stories of buyers not being able to sell on. So I would probably look for a 2/3 bedroom freehold house, terrace, semi or detached for a small family to call home, with a small garden, which would only require landlords building insurance and the other regulatory checks, Like the annual gas Saftey certificate etc. I would look for one already liveable, so I could market it straight away, albeit I would be prepared to fully redecorate ( paint it white) and put down new durable flooring (laminated or commercial carpet) Any other minor works could be done as they crop up, whilst the tenants are in situ. ( I would probably pay a professional to paint it in 3 days if I didn’t or couldn’t do it myself). I would also hold back some of the lump sum as a cash reserve. Encase the boiler or roof needed fixing. I would use a well known local estate/Lettings agent who is registered with all the approved bodies for a tenant finding fee only, and then self manage. Water leaks, plumber, electrical fault, electrician , boiler/ heating or hot water problems, gas engineer or call British Gas one off repairs service or even buy a 12 month boiler contract that covers all the above for approximately £25 per month. Also a good handyman is essential. Lastly, depending on who your leaving your inheritance too, I would also consider a equity release also known as a lifetime mortgage on my main residence, especially if it’s your forever home, if not I would downsize first to release any equity in your current property to subsidise your retirement income, park some in a 1 year fixed rate account and some in a accessible cash isa and withdraw a monthly income from the capital, when I’ve spent that I would then use an equity release product and make sure I used a flexible drawn down approach to keep the Intrest rolled up to a minimum, no point in releasing 50k if you only need 6k or 12k a year to supplement your income. That’s what I would consider, obviously the above is not in any way advice, but remember not one of us can take anything with us, once our time is up so may as well spend it and enjoy it while we can. Good luck...... Read More

Paul Green

17:02 PM, 12th January 2018
About 2 years ago

Evicting tenant's girlfriend?

In the two times I’ve evicted using a professional solicitor, the debt recovery firm has never recorded a penny, why? Because one tenant used fraudulent I D (which past a tenancy referencing check) and the other tenant was skint. Rent guarantee insurance costs me around £125 per annum and all I pay for is the solicitors section 21 & 8 at an added cost of £175 if making a claim, the court costs are free the barriers free and the bailiffs. And Im always awarded the deposit in full. Of course I have to pay the locksmith after the bailiffs have done there job. Rent guarantee helps me sleep knowing my rents covered and a fair chunk of the legal costs. You can pay around £250 for rent guarantee which issue both section 21 & 8 free. But bearing in mind you don’t usually claim, I think it’s better to keep the cost down and pay the solicitor as and when by paying a lower premium. Ie approximately £125. I use Endsleigh insurance but their are other insurance companies that offer a similar service.... Read More

Paul Green

16:04 PM, 12th January 2018
About 2 years ago

Evicting tenant's girlfriend?

In the past when I have had to evict (or rather claim on my rent guarantee insurance) for non payment of rent, the insurance company always insist on a section 21 to accompany the section 8, to cover all angles I would instruct a solicitor to issue both. Go to court and receive the order of possession, the judge will award you the deposit in full. Then wait 14 days as requested by the judge and then send the bailiffs in. This way you detach yourself from the process and nothing is personal, the professionals handle it all. You just need to organise a locksmith on the day of eviction to change all the locks. You can then assess the damage, clean up , repaint and re let. Sorted. Once you’ve been through it once your be more prepared next time. Oh and consider rent guarantee insurance until you know them, ie they have something to lose by having a county court judgement against them, if there say young professionals wanting to get on the housing ladder with a mortgage, a CCJ would destroy their credibility and credit score.... Read More