Property118 Ltd understands that your privacy is important to you and that you care about how your personal data is used and shared online. We respect and value the privacy of everyone who visits this website, www.property118.com
(“Our Site”) and will only collect and use personal data in ways that are described here, and in a manner that is consistent with Our obligations and your rights under the law.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
||means an account required to access and/or use certain areas and features of Our Site;
||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;
||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;
||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and
||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Information About Us
- Our Site is owned and operated by Property118 Ltd, a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Our VAT number is 990 0332 34.
- Our Data Protection Officer is Neil Patterson, and can be contacted by email at firstname.lastname@example.org, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- What Does This Policy Cover?
- Your Rights
- As a data subject, you have the following rights under the GDPR, which this Policy and Our use of personal data have been designed to uphold:
- The right to be informed about Our collection and use of personal data;
- The right of access to the personal data We hold about you (see section 12);
- The right to rectification if any personal data We hold about you is inaccurate or incomplete (please contact Us using the details in section 14);
- The right to be forgotten – i.e. the right to ask Us to delete any personal data We hold about you (We only hold your personal data for a limited time, as explained in section 6 but if you would like Us to delete it sooner, please contact Us using the details in section 14);
- The right to restrict (i.e. prevent) the processing of your personal data;
- The right to data portability (obtaining a copy of your personal data to re-use with another service or organisation);
- The right to object to Us using your personal data for particular purposes; and
- If you have any cause for complaint about Our use of your personal data, please contact Us using the details provided in section 14 and We will do Our best to solve the problem for you. If We are unable to help, you also have the right to lodge a complaint with the UK’s supervisory authority, the Information Commissioner’s Office.
- For further information about your rights, please contact the Information Commissioner’s Office or your local Citizens Advice Bureau.
- What Data Do We Collect?
- Date of birth;
- Address and post code;
- Business/company name and trading status;
- Number of properties owned;
- Accountants details;
- Contact information such as email addresses and telephone numbers;
- Proof of residence and ID;
- Financial information such as income and tax status;
- Landlords insurance renewal dates;
- Property Portfolio details such as value and mortgage outstanding;
- How Do We Use Your Data?
- All personal data is processed and stored securely, for no longer than is necessary in light of the reason(s) for which it was first collected. We will comply with Our obligations and safeguard your rights under the GDPR at all times. For more details on security see section 7, below.
- Our use of your personal data will always have a lawful basis, either because it is necessary for our performance of a contract with you, because you have consented to our use of your personal data (e.g. by subscribing to emails), or because it is in our legitimate interests. Specifically, we may use your data for the following purposes:
- Providing and managing your access to Our Site;
- Supplying our products and or services to you (please note that We require your personal data in order to enter into a contract with you);
- Personalising and tailoring our products and or services for you;
- Replying to emails from you;
- Supplying you with emails that you have opted into (you may unsubscribe or opt-out at any time by the unsubscribe link at the bottom of all emails;
- Analysing your use of our site and gathering feedback to enable us to continually improve our site and your user experience;
- Provide information to our partner service and product suppliers at your request.
- With your permission and/or where permitted by law, We may also use your data for marketing purposes which may include contacting you by email and or telephone with information, news and offers on our products and or We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that We fully protect your rights and comply with Our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003.
- You have the right to withdraw your consent to us using your personal data at any time, and to request that we delete it.
- We do not keep your personal data for any longer than is necessary in light of the reason(s) for which it was first collected. Data will therefore be retained for the following periods (or its retention will be determined on the following bases):
- Member profile information is collected with your consent and can be amended or deleted at any time by you;
- Anti-Money Laundering information and tax consultancy records are to be kept as required by law for up to seven years.
- How and Where Do We Store Your Data?
- We only keep your personal data for as long as We need to in order to use it as described above in section 6, and/or for as long as We have your permission to keep it.
- Some or all of your data may be stored outside of the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein). You are deemed to accept and agree to this by using our site and submitting information to Us. If we do store data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the UK and under the GDPR
- Data security is very important to Us, and to protect your data We have taken suitable measures to safeguard and secure data collected through Our Site.
- Do We Share Your Data?
- We may share your data with other partner companies in for the purpose of supplying products or services you have requested.
- We may sometimes contract with third parties to supply products and services to you on Our behalf. Where any of your data is required for such a purpose, We will take all reasonable steps to ensure that your data will be handled safely, securely, and in accordance with your rights, Our obligations, and the obligations of the third party under the law.
- We may compile statistics about the use of Our Site including data on traffic, usage patterns, user numbers, sales, and other information. All such data will be anonymised and will not include any personally identifying data, or any anonymised data that can be combined with other data and used to identify you. We may from time to time share such data with third parties such as prospective investors, affiliates, partners, and advertisers. Data will only be shared and used within the bounds of the law.
- In certain circumstances, We may be legally required to share certain data held by Us, which may include your personal data, for example, where We are involved in legal proceedings, where We are complying with legal requirements, a court order, or a governmental authority.
- What Happens If Our Business Changes Hands?
- How Can You Control Your Data?
- In addition to your rights under the GDPR, set out in section 4, we aim to give you strong controls on Our use of your data for direct marketing purposes including the ability to opt-out of receiving emails from Us which you may do by unsubscribing using the links provided in Our emails.
- Your Right to Withhold Information
- You may access certain areas of Our Site without providing any data at all. However, to use all features and functions available on Our Site you may be required to submit or allow for the collection of certain data.
- How Can You Access Your Data?
You have the right to ask for a copy of any of your personal data held by Us (where such data is held). Under the GDPR, no fee is payable and We will provide any and all information in response to your request free of charge. Please contact Us for more details at email@example.com, or using the contact details below in section 14.
- All Cookies used by and on Our Site are used in accordance with current Cookie Law.
- Before Cookies are placed on your computer or device, you will be shown a cookie prompt requesting your consent to set those Cookies. By giving your consent to the placing of Cookies you are enabling Us to provide the best possible experience and service to you. You may, if you wish, deny consent to the placing of Cookies; however certain features of Our Site may not function fully or as intended. You will be given the opportunity to allow only first party Cookies and block third party Cookies.
- Certain features of Our Site depend on Cookies to function. Cookie Law deems these Cookies to be “strictly necessary”. These Cookies are shown below in section 13.5. Your consent will not be sought to place these Cookies, but it is still important that you are aware of them. You may still block these Cookies by changing your internet browser’s settings as detailed below in section 13.9, but please be aware that Our Site may not work properly if you do so. We have taken great care to ensure that your privacy is not at risk by allowing them.
- The following first party Cookies may be placed on your computer or device:
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- Our Site uses analytics services provided by Google Analytics and Facebook. Website analytics refers to a set of tools used to collect and analyse anonymous usage information, enabling Us to better understand how Our Site is used. This, in turn, enables Us to improve Our Site and the products AND/OR services offered through it. You do not have to allow Us to use these Cookies, however whilst Our use of them does not pose any risk to your privacy or your safe use of Our Site, it does enable Us to continually improve Our Site, making it a better and more useful experience for you.
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- The analytics service(s) used by Our Site use(s) the following Cookies:
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- In addition to the controls that We provide, you can choose to enable or disable Cookies in your internet browser. Most internet browsers also enable you to choose whether you wish to disable all cookies or only third party cookies. By default, most internet browsers accept Cookies but this can be changed. For further details, please consult the help menu in your internet browser or the documentation that came with your device.
- You can choose to delete Cookies on your computer or device at any time, however you may lose any information that enables you to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
- It is recommended that you keep your internet browser and operating system up-to-date and that you consult the help and guidance provided by the developer of your internet browser and manufacturer of your computer or device if you are unsure about adjusting your privacy settings.
- Contacting Us
18:09 PM, 6th December 2011, About 11 years ago
Landlords have used S21 proceedings instead of S8 for years, knowig they are throwing good money after bad.
So much so, that it is common practice in homelessness units to presume intentional homelessness where there are rent arrears but the landlord has not claimed them, using S21 on the basis that if not for the arrears the landlrod would have continued the letting.
What is interesting about this article is that fact that it is being acknowledged that rent arrears are on the increase, at the same time as rent being at an all time high. Is this not telling landlords something?
Are these not signs that the market is at breaking point?
If the tenant simply cant afford to pay more rent where does that leave the landlord? especially when mortgage interest rates rise.
13:48 PM, 8th December 2011, About 11 years ago
"What is interesting about this article is that fact that it is being acknowledged that rent arrears are on the increase, at the same time as rent being at an all time high. Is this not telling landlords something?"
It’s telling me, “to store up as match as possible in the good years, to cope with the bad years” as leaving grain in the fields does not stop the bad years coming. A single landlord does not reduce the likelihood of problems by charging below market rent, if anything I would expect more problems.
I also don’t expect any tenant to be willing to pay over the market rent, if the market drops, regardless of paying below the going rent at present.
However If I was a landlord in London, I would be thinking very carefully about selling up (Sorry not what a hosing officer wishes to here).
If only rents in the Midlands were going up as much as London! Cambridge seems to be going up slowly, but with good demand.
14:45 PM, 8th December 2011, About 11 years ago
Ian I have tweeted someting out this afternoon. An article about how the Midlands is heading for a new housing crisis because of high rents and sale prices.
When I was in Brum the other week I drooled over the low level of rents in estate agents windows but forget that wages are lower so everything is relative really.
I have every sympathy with landlords, even consider myself the landlord's friend in most things but I will never agree on the morality of current rent levels, especially in London. they are blatant profiteering in my book I'm afraid. You may store up while things are good Ian but you are storing up at the expense of others having to turn to pay day loans just to help you store up for the winter
70% of possesion cases are being driven by rent arrears http://www.24dash.com/news/housing/2011-12-08-Over-70-of-tenants-evicted-over-rent-arrears-in-private-sector-research
It also doesnt make business sense to kill the goose that lays the golden egg.
The Bank of England have already warned of mortgage rate interest rises in the new year. If tenants are so maxed out on paying thier rents that arrears are increasing and people are turning to pay day loans just to stay in their homes, how are landlrods going to raise rent to meet interest rates when people already cant cope?
This week I have interviewed 2 landlords who are in mortgage arrears and threatened with repossession because their tenants are behind on the rent. The market can only bear so much and it is the tenant's who are supporting the market whilst slowly going into financial meltdown, while landlords store up for the winter.
Taking a holistic view, which I believe I am one of the few around who is, it doesnt make business sense to set rents so high that people cant afford them. there will be a backlash. I dont know if anyone is monitoring figures but I wonder, in this current climate of grim austerity, if rent arrears will rise over the Xmas period with people saying 'Sod it, enough is enough. My kids come first f***k the landlord's profits'. Which is what I am hearing in interview rooms lately.
I agree with Shelter on many of their campaigns apart from their rogue landlord one, which I think is over-simplistic and misplaced and I agree with landlords in much of what they are trying to achieve but not on the subject of rent levels. Not just on moral grounds but on business ones too. It makes no sense to set something up for a short term gain that could destroy you long term.
I stand back, naked in the light of these comments on P118 and await the kicking haha
15:11 PM, 8th December 2011, About 11 years ago
"It also doesnt make business sense to kill the goose that lays the golden egg. "
The problem is that a single landlord can't stop other landlords killing the goose. Anyway I would not call about 4% yield after charges/voids etc. a "golden egg" - that is about what we get, but we are renting out nice homes we brought to live in - rather than low end BLT props.
15:23 PM, 8th December 2011, About 11 years ago
BLT???? Bacon Lettuce and Tomato?
15:37 PM, 8th December 2011, About 11 years ago
Sorry I meant BTL, now how do I edit a post?
15:41 PM, 8th December 2011, About 11 years ago
Seriously though Ian. I dont expect a single landlord to stop other landlords killing the goose. It is simply a matter of not killing your own goose when things go belly up for your properties and tenants.
I know several landlords whose rents are kept well below current market level for exactly that reason, they realise that thier finances are inextricably entwined with those of their tenants, who are their source of income - taking the long term view with reliable tenants who can afford to live in the homes they provide. This landlords will survive.
Also I dont think for a minute that BTL properties are necessarily low end, nor that landlords rent out homes they originally bought to live in. I appreciate that this may be how you got into the business but it isnt across the board.
I regularly read on this site of landlords saying how hard it is to find good tenants and persuade them to stay on long term, if that is the case then surely it makes sense to help keep them there.
I would love to carry on living in my place at the end of my agreement in March but I am sure my landlord will simply jack the rent up another £200 a month (which happened to the flat above mine 2 months ago) and me and Frazzy will be forced into a 3rd expensive move in 18 months. If even 2 decent wage earning middle aged professionals cant afford to even pay rent where does that leave so many others?
Mark Alexander - Founder of Property118
15:41 PM, 8th December 2011, About 11 years ago
Sorry Ian, you can't, but it was quite funny from this side of the screen 😉 Coffee spray now removed from mine thanks to Mary's cleaning tips
Mark Alexander - Founder of Property118
15:57 PM, 8th December 2011, About 11 years ago
I do feel for everybody in the same position as you and Frazzy but the issue goes back to the most basic laws of economics "scarcity" better known as supply and demand. Economics is a social science at best, it's very much like nature, it sorts itself out in the end. I remember when I was a kid and one summer there was a plague of ladybirds, walls were covered in them an inch thick, but the balance was soon restored. It's anybody's guess as to what will happen to the London property market for it to level out but right now it's foreign buyers that are inflating the market and creating the scarcity issues, not buy to let landlords. Across the UK there is a lot less new BTL business occuring than there was 3 or 4 years ago, about 75% less in fact. There is also a lot less property being built. Are those two things coincidental? Only when supply of property is increased beyond the point of demand will rents fall. What are the short term prospects of that though? none I'd suggest.
The trouble is, there are not enough properties being built because so few would be homeowners and BTL investors can raise the finance to buy them at a price that justifies them being built. That seems like a stalemate but I suspect it isn't. With the advancements of technology combined with the issues surrounding affordability it may well be that the London property market finds its level as a result of more people moving further out of the city, thus causing the ripple effects across the UK which you so often see me write about.
16:14 PM, 8th December 2011, About 11 years ago
I dont disagree with your analysis Mark but one thing that I think should be significantly different with market forces determining rent is that people's homes arent turnips, or maybe, less facetiously, not charter flights.
If cheap flight prices rise as a result of market forces pushing up airport costs and fuel, people just cut back on holidays. Annoying but no more than that, whereas if market forces push rents beyond the levels people can afford people end up homeless or being driven from the areas where they grew up and where their family, freinds and work is and I dont think that is acceptable.
Communities thrive by being just that, communities. but if people are forced to move because of high rents, and the insecurity of assured shorthold tenancies communites get destroyed and nobody cares about anyone else, thats how riots happen, through people not caring about the area they live in because they have no vested interests in it.
I totally agree about foreign investors affecting the market. My landlords are a couple of non resident Greek brothers, thats why I know they will jack the rent up, based on the info on rent levels that their London based national agents will tell them is achievable and on a daily basis I am seeing a massive rise in clients coming in to see me whose landlrods are Chinese, whereas from 1990 to 2001 I think I only ever saw 1 Chinese landlord.
I read last week of some mortgage companies coming up with deals to make it easier for first time buyers to get in which, the article warned, if succesful could take the presure off the PRS and drive rents down. Obviously as a tenant I would wlecome that but as a housing profesional it is not lost on me what will happen to PRS landlords who have to lower rents if, as Ian suggests about they are only making 4% on top of everything else. We cant afford for PRS landlords to drop in number.
The whole system seems cockeyed to me, just permanently in boom and bust, either tenants suffer because rents are ridiculous or landlords suffer when the market forces their margins down. There has to be a more sustainable way of working than this