Monty Bodkin

Registered with
Friday 13th June 2014

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Total Number of Property118 Comments: 646

Monty Bodkin

Less than a minute ago
Are Eastern Europeans Leaving The UK?

Are Eastern Europeans Leaving The UK?
They are not migrating here as much as before but net migration of Eastern Europeans is slightly positive; Read More

Monty Bodkin

4 hours ago
Are Eastern Europeans Leaving The UK?

July and August are always dead months.

However, to get no enquiries then you are doing something wrong.

I've got one on this month, 15 enquiries, none of them eastern Europeans. They are only a small (but significant) part of the market in most areas.

I'd also add that mine is on at £50 above average as it is the only one I've got coming empty and I'm in no hurry to let
-ever noticed everyone says they charge below market average? Logically, someone must be charging above the average.

If you are charging £80 below market and the property is right and you are not getting enquiries then you are not tapping in to the home grown market in your area.

Hate to say this but try going back to basics with the best, local, established, independent letting agent with a high street shop window and who still advertises in the local rag.... Read More

Monty Bodkin

A day ago
Next investment steps or flippant purchase?

Reply to the comment left by Monty Bodkin at 19/08/2018 - 09:24
And just to head off the usual arguments about increasing rents.
This thread is about a high demand, low availability area.

Voids are nearly non existent.
A 2 week void will be recovered after a couple of month's rent increase.
Average tenancy is around 4 years.
A tenant paying an increase to market rate is still saving £2K moving costs.

"Tenants are already paying as much as they can"
-Mine aren't. I know exactly how much they can pay because I thoroughly check them first. Landlords need to be selecting tenants who can easily cover the rent and afford rent increases.... Read More

Monty Bodkin

A day ago
Next investment steps or flippant purchase?

When was the last time you did a rent review?

Existing tenants generally enjoy rents around 10% less than market rates.

Old skool thinking was not to increase rents on good tenants.
In high demand, low availability areas that's gone out of the window with the current, and future attacks on landlords.

Landlords need to be deleveraging and building reserves.

Charging below market rates doesn't make you a 'good' landlord if you go under and have to evict tenants.... Read More

Monty Bodkin

2 days ago
Respond now or get 3 year tenancies!

That's the trouble Mike. It is nigh on impossible to evict a tenant for wrecking the place, overcrowding, criminal behaviour or ASB.
Unless you've got a cast iron conviction, you've no chance.
Social housing providers (who generally don't have fixed tenancies), just get repeat suspended possession orders again and again against these toerags.
Even evicting on 'mandatory' ground 8, more than two months rent arrears, is very difficult against a determined tenant.... Read More