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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||Used only to collect performance data, with any identifiable data obfuscated
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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.
- The analytics service(s) used by Our Site use(s) Cookies to gather the required information.
- 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
Mark Alexander - Founder of Property118
8:38 AM, 4th August 2014, About 9 years ago
It isn't possible to say whether you are under or over geared at this stage as it very much depends on other factors; i.e. you age, your end goals and time-scales, the running costs of your portfolio etc. etc.
May I suggest that you begin by analysing each of your properties using the Landlords Calculator we have created - see >>> http://www.property118.com/calculating-rental-yields-and-returns/
This will give you a much clearer picture of what your net returns are (or will be) from your portfolio as is, and also what interest rates will have to be for you to get zero income and to break even. With this information you will be able to make an informed decision on whether you will be in a position to accomplish your end goals without changing anything. If you don't like the answer then you will need to embrace change.
My two initial observations are that your liquidity reserve is particularly low for the value of the property portfolio and debt levels that you are supporting. Also, I doubt very much that your own home will make a good investment property based on the figures provided - the yield is very low and any net sale proceeds may well be capable of being reinvested to provide far higher returns.
You seem to be an ideal candidate for the Consultancy service that I provide and I will happily introduce you to other clients of mine, for the purpose of gaining testimonials, if you are seriously interested in clearly understanding the opportunities you have, minimising your risks, maximising your returns and achieving your goals. For further details please see >>> http://www.property118.com/consultancy-mark-alexander/61522/
11:49 AM, 4th August 2014, About 9 years ago
In addition to what mark has stated. You have to ask your self your attitude to risk. While I hope that you have a very healthy future. Is there a chance of a relapse and if this happens, who will take control of the portfolio & with what level of competence.
The letting market is evolving & soon we will have more legislation's and the penalties to fill the coffers of the cash starve departments. Don't expect any sympathy/support from the envious citizens.
15:11 PM, 4th August 2014, About 9 years ago
Reply to the comment left by "Mark Alexander" at "04/08/2014 - 08:38":
Thank you for prompt response. Sorry, I see I have confused you with my incorrect use of Hashtags (which answers one question: I am mid-forties, far too old/uncool to attempt those). Portfolio is smaller than suggested above: the one house and one small flat in market town, one apartment in coastal town.
I have run these through the calculators but struggle with straightforward categorisations: house has been home for years and cost £150k (I developed it substantially), one bed was £110k cash as refurb needed (my occupation whilst unable to pursue profession) and coastal apartment £165k (found before it went to market) as I really want to part-retire there as soon as possible. Seems to me not many places, based on current values versus rent received are very profitable? I am green though! Leverage, gears, LTV, current value versus price paid are relatively new concepts. I need, as you say, to investigate the consultancy service but I'm also curious (after reading a recent post from Jemima) to see if others are in a similar position?
Evidently, I've set myself up for the next several years with current borrowing; at the time stability was important. For this duration at least there are also solid careers bringing in a respectable income, which I hope goes some way to explaining lower liquidity.
The three properties have been purchased for specific personal reasons; I suppose making me also something of a developer. It has been a surprise though, how much I've enjoyed looking after the let properties and their tenants, even though together we've battled floods, collapsed ceilings and all sorts. In response to a further question: Life without taking risks is not much of a life at all I'd say, but I'm not the type who could buy something off plan hundreds of miles away and never even visit. Definitely also of the 'hold on to places' mindset (transactional expenses unwelcome) although I did have a sneaking suspicion I could use the house asset more profitably. That said, one property bringing in £2k or so pcm must surely be less work than a clutch bringing in far less?!
Thank you Shakeel: I suffered an accident I was very lucky to survive and I'm happy to report my recovery is now officially acknowledged as complete. Agreed, who manages the portfolio if I cannot is a worry, although I have made some trustworthy friends through my landlord association and I am training my teens to see if any of them has an aptitude for managing their future prosperity. Agreed also, there is envy and misunderstanding around us which is why I aspire to relatively modest financial wealth and strive to preserve anonymity.
Mark Alexander - Founder of Property118
15:26 PM, 4th August 2014, About 9 years ago
Reply to the comment left by "Bella Casa" at "04/08/2014 - 15:11":
You clearly have a knack of adding value to properties and that is not a common skill-set.
Have you considered building on that skill-set by trading properties instead of holding them as investments? The reason I ask is that I can't see the point in dealing with issues and costs associated with property ownership and lettings if the return on equity is no better than the return you would get if you were to cash in by selling the properties and holding the funds on deposit. You need to factor in your time too. Also, you can't spend equity.
If all of that equity was liquid, could you do the same again? If the answer to that question is yes then perhaps you would make more money from property trading than investing?
When my returns on equity fall below double figures I seriously consider selling the properties and re-investing elsewhere. For the last 25 years, re-investment into property has always made more sense than any other investment options I have looked into but I have recognised that that may not always be the case.
15:54 PM, 4th August 2014, About 9 years ago
Reply to the comment left by "Mark Alexander" at "04/08/2014 - 15:26":
Yes.. re-evaluating options right now, hence exposing self on here! However rewarding (personal satisfaction too). Developing/trading/developing/trading is high adrenaline + workload stuff. Hard to sustain alongside kiddies & a job with special needs ones too.
Glass of wine & contemplation called for... I certainly don't want to be 'filthy rich' (really!) just hope for a level of freedom for myself and a bit of security for my offspring. There must be many investors with this game plan now? Or are most too risk averse?
Mark Alexander - Founder of Property118
18:09 PM, 4th August 2014, About 9 years ago
Reply to the comment left by "Bella Casa" at "04/08/2014 - 15:54":
Risk is a matter of perception. Most people would not be able to sleep if they had as much debt as I do for example.
18:51 PM, 4th August 2014, About 9 years ago
Reply to the comment left by "Mark Alexander" at "04/08/2014 - 18:09":
Sometimes sleep is a matter of perception!