Martin

Registered with Property118.com
Monday 12th March 2018

Trading Status
Partnership

Providing essential rental accommodation since
2005

Number of rental properties owned
21 – 40

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 27

Martin

14:22 PM, 8th July 2020
About A week ago

Summer Economic Update - Landlords Reaction

Surely it will help as the 3% surcharge is on top of what is normally paid.
I know it's not the bonus of no stamp duty we hoped for, but you will pay less on a second purchase now.... Read More

Martin

12:23 PM, 31st March 2020
About 4 months ago

Put ourselves in the shoes of these kids?

My Eldest was in the process of finishing her final year at Uni in London.
I saw the lockdown coming and pulled her out of her house 3 weeks ago.
What I didn't know was how long it would go on for, so like most students she has most of her belongings there and effectively is still in residence. I've made a point of paying her landlord as I believe it's the fair thing to do.
However as they are in a shared house with all bills paid and a weekly cleaner and now instead of 5 people living there, there is now just one.
With that in mind I have written to the landlord and requested that as their bills are now lower and the cleaner has been cancelled that there be a reduction in the rent to reflect their saving.
Hopefully they will play fair with me as I have with them.
We will wait and see.
To reply to Yvonne, if you are dogged enough you can find a legal precedent for pretty much anything ( I know this from experience when having to sue a surveyor). When presented with a legal precedent most Solicitors will advise you that it is better and cheaper to settle as it will probably cost more in the long run to fight it.
I don't know the case in question, but on the face of it, it does indeed look like it may have some bearing on student lets if schooling is cancelled through no fault of their own.
If you are really concerned my advice would be grit your teeth, huge pot of coffee and spend some serious hours googling to come up with a case that works the other way.
It is boring and laborious and when i won my case against the surveyor I probably spent 10 to 12 hours to find the example I wanted. This was over £1000. So to pay a Solicitor to research it wouldn't have been viable at between £250 and £500 an hour.... Read More

Martin

9:40 AM, 24th March 2020
About 4 months ago

Repairs during Covid-19?

British Gas as of last Friday were still carrying out gas safeties and breakdown cover.
I am quite friendly with one of the engineers in my area who covers some of my properties.
Engineers have been instructed to self isolate if they had any symptoms and the engineers out in the field spoke directly with tenants who were self isolating to make common sense decisions.
I have a tenant who's child is running a temperature, back door was left open for the engineer and no one entered the kitchen while he serviced the boiler and hob, he wore gloves whilst working. - Common sense decision!
They are key workers and as previously mentioned - dripping tap - live with it, but no heating or hot water can have serious implications.... Read More

Martin

13:23 PM, 6th March 2020
About 4 months ago

Blogger says tenants with Coronavirus should get 3 months rent free!

Where on earth do you begin.
The man is clearly not connected to the real world in anyway shape or form.
His post simply smacks of "wouldn't it be good if?" and then when he is called out on the unworkable mechanics of his idea he resorts to a primary school playground style response.
I remember Trump during the Government shut down he forced saying Landlords should use their "reserve funds" and not charge government workers rent while they weren't being paid.
Its sensible suggestion backed up with ridiculous assumption.
This is a more elaborate version of the sign you used to see in the gents toilets in pubs.
"Please do not throw cigarette butts in the urinals, it makes them soggy and difficult to light!"
Most of us are a business with expenses and a profit and loss sheet like any other. If we make no profit we fold, to assume that we wouldn't is absurd.
Most ongoing businesses do teeter on the brink to a greater or lesser degree. Many run for years employing thousands and making millions, but just one external factor changing can shut them down. Look at the high street retailers we have lost, the holiday companies and the airlines.
This man has little or no grasp of real world economics or the complexities of running a business. He is that most dangerous of animals, an academic and a theorist with a voice and an ego.
Best in my opinion not to give him a voice, I've read his blog and deliberately not posted as any reply won't address my points, but rather simply give him another 2 lines in which to say he is right and I am wrong.
I've run my business for 15 years now and every tenant is treated individually, if someone struggles with rent and they are a good tenant I work with them if not then I follow the correct process.
Whilst I will defer rent at no point would I write it off and say stay for free. That's a dangerous precedent and unworkable.
As for the Covid 19, it is true it's the first disease to fall into the WHO Disease X category and I do believe we are heading for a Pandemic. However don't forget the reported death rate is about 1 in 50 but almost all of those were suffering underlying issues. That also doesn't include unreported cases. There 2 strains of Covid 19 and the less common one is the more aggressive one as it's easier to contain (people show earlier and get sicker). Then there are the influenza figures.
On average each year in the States influenza infects an estimated 32 million people, causes over 300,000 hospitalisations and 18,000 deaths. We simply don't know how Covid 19 will pan out. It's to early to panic, and even if we do panic how will that help. I'm tending to ignore any newspaper with a red top on this one.
Rant over - back to work :)... Read More

Martin

12:56 PM, 4th December 2019
About 7 months ago

No surprise tenants have suffered intense rent increases this year

I can only speak for myself, but my rents in the areas where it is mainly USAF tenants have remained static, but that is because you don't have to reference them.
The areas where I have UK tenants I have seen between an 8% and 10% rise in the market rate. I simply advertise my property to be the cheapest one of that size and standard so without making any conscious decisions the market has raised my rents. However all of the letting agents I use have increased their "find and sign" price by over 20% to cover their additional costs.... Read More