Roger Lancaster

Registered with Property118.com
Thursday 12th September 2013


Latest Comments

Total Number of Property118 Comments: 20

Roger Lancaster

16:00 PM, 6th September 2014
About 6 years ago

European Central Bank cuts interest rate to 0.05% !

Thanks Neil. Understand exactly where you are coming from. Once again our media and their frenzied reporting and sensationalist headlines do more damage to our economy than the Banks ever did. Oh for a balanced press.... Read More

Roger Lancaster

20:00 PM, 5th September 2014
About 6 years ago

European Central Bank cuts interest rate to 0.05% !

Hi Neil

Out of interest and just so I am reading this right, what signal would a further reduction in interest rates send to the markets and the world in general and what would be the implications of that signal.

Thanks as ever for your contributions to 118 which I find very useful in my more complete understandings of the market in which we dabble.... Read More

Roger Lancaster

13:28 PM, 13th August 2014
About 6 years ago

5 Killer Questions to Choose a Letting Agent

Reply to the comment left by "Mark Crampton Smith" at "11/08/2014 - 12:11":

Absolutely agree with both you and Ian about the different tenancy lengths and the skewing effect these would have and I would hope portfolio landlords or HMO landlords would be savvy enough to recognise this. My real concern is that too few landlords even ask this question and appreciate the significant effect it can have upon their income. It is not difficult to produce a little spreadsheet calculator that can demonstrate the effect of doubling tenancy length on overall profit margins.

The same applies to % of rent collected for portfolio landlords. As far as I am aware the question is never asked. 1% difference on a 20 house portfolio on average rents is £1200 plus per year. My experience is that most agencies collect on average less than 95% of the rent due (£6000 straight of bottom line) and when voids are taken into account as well as missed payment it is significantly worse.

Landlords need to start asking these questions and then moving their business to those that can give them the evidence. At that point landlords might start getting the service they should expect and require and standards in the sector would rocket.... Read More

Roger Lancaster

9:57 AM, 11th August 2014
About 6 years ago

5 Killer Questions to Choose a Letting Agent

Reply to the comment left by "Mark Crampton Smith" at "09/08/2014 - 11:17":

Hi Mark

Pleased you agree with the approach and though Mark Alexander is right that Agents can lie about their figures but by asking to see the evidence you will quickly be able to assess how comfortable they are with the information they have given you. If lying they are unlikely to have prepared detailed falsified records to back up their claim and could open themselves up to charges of misrepresentation and fraud if they did.

These two figures are crucial to the performance of a landlords portfolio and as such all agents should be aware of their landlords and their own overall performance in respect of these indicators.... Read More

Roger Lancaster

23:12 PM, 8th August 2014
About 6 years ago

5 Killer Questions to Choose a Letting Agent

IMHO there are two real killer questions which only the very best agents will be able to tell you and which truly measures their performance.

1. What is the average length of tenancy across your managed portfolio. Most won't be able to tell you and certainly won't be able to give you proof. If it is less than twenty months for a residential let then they are worse than average. Go for agents where the average length is at least twice the national average. Long tenancies mean few voids and arrears and minimal refurbs costs.

2. What % of rents are collected in relation to total potential rent. Should be at least 95% plus which means little or no arrears and few and very short voids.

The problem is very few agents can give you these figures which is why they are not blazing them across their expensive shop fronts and each month the landlord should expect a detailed report backing the figures up. There are agencies out there achieving these figures but they are few and far between and are worth paying a premium for the service they give..... Read More