Tag Archives: Estate Agent

Is landlord licensing a pointless exercise? Buy to Let News, Landlord News, Latest Articles, Property News, UK Property Forum for Buy to Let Landlords

Is landlord licencing a pointless exerciseIt’s time for me to share some controversial views on why I believe landlord licensing to be a pointless exercise I think.

Now don’t get me wrong, I hate the fact that a very small minority of bad landlords have earned our profession a bad reputation. However, it appears they might be a necessary evil too.

Allow me to explain. Continue reading Is landlord licensing a pointless exercise?


Negotiating with estate agents Latest Articles, UK Property Forum for Buy to Let Landlords

Negotiating with estate agentsOver the last few days a newbie property investor called Craig has been picking the brains of myself and Mary Latham by email. Yesterday we got talking about negotiating with estate agents and the advice we shared with Craig is well worth sharing here so that others can benefit from it too in my opinion. Between us, Mary and I have 64 years of experience in buying property as an investment. This number will grow massively as others share their opinions and as more questions and answers are added to this thread.

Negotiating with estate agents

Having viewed properties which match your requirements in terms of attracting the right tenants – a good agent will always call to you to ask for feedback. When they do, tell the agent that you really liked the property and would love to buy it but you think it’s priced too high for you to want to make an offer. Continue reading Negotiating with estate agents


The Ombudsman has ruled, fair or not, you decide …. Landlord News, Latest Articles, Property News, UK Property Forum for Buy to Let Landlords

The Ombudsman has ruled, fair or not, you decide ....I previously posted information about a problem Estate Agent who had let my property in Dover to a family on DSS with 7 children contrary to my instructions of no DSS tenants and no pets. I was very specific about my requirements due to a nightmare and costly experience with a previous tenant on DSS who trashed my property.

On discovering that my agents had disregarded my instructions, I wrote a complaint to them holding them responsible for any loss of rent or for the cost of any repairs and evicting the Tenants or re-letting the Property. This culminated in a “desist” letter from a solicitor and immediate termination of Estate Agent services. I had also contacted the Ombudsman and after six months of waiting I finally received their report. Continue reading The Ombudsman has ruled, fair or not, you decide ….


Renting by the room – a FREE guide to maximising profits Landlord News, Latest Articles, Property News

Renting By The RoomA new ebook has been released by Spare Room and is available to download as a PDF via Property118 free of charge. It’s called “Renting by the Room – A Guide to Maximising Rental Profits”.

The media has a fascination with house prices, and together with Property Investment gurus and Estate Agents, spend a lot of time talking about the money to be made from investing in property. However, they rarely mention the single biggest factor in maximizing your return on investment – renting property by the room.

Why?

The truth is that renting by the room can bring in two or even three times the income of the same property let as a single unit. So why does it feature so rarely on property programmes or investment research reports?

Perhaps there’s a belief that this type of letting is too complex for amateur landlords to handle? Maybe they want to keep the juiciest returns for themselves? Either way, it’s high time someone challenged the status quo, and revealed why savvy property investors and landlords are getting into renting by the room.

SpareRoom’s Guide to Renting by the Room reveals:

  • The Origins of Generation Rent
  • The Growth of Flatsharing
  • The Benefits of Renting by the Room
  • Where the Demand for Shared Housing is strongest, around the UK
  • … as well as a Case Study of a Property Expert who only rents to sharers, and a Special Offer to get discounted advertising on SpareRoom.co.uk

To download your free copy, simply enter your name and email address below.

Download the FREE Guide to Renting by the room


Buy to Let Estate Agents Landlord News, Latest Articles, Property News

If you had told me this time last year that I would soon be adding Buy to Let Estate Agent to my CV I would not have had a clue what you were talking about.

However, that’s exactly what we have become as a result of selling buy to let developments.

We have no plans to become a conventional estate agency where you can buy or sell your next home, however, estate agents is what we now are according to a law known as the Estate Agency Act 1979.

It’s all come about as a result of wanting to let you know about properties which could make ideal buy to let investments.

We didn’t want to charge fees to property investors but we often get the “heads up” on developments which make ideal buy to lets. Given that we have ‘filled our boots’ with deals personally (we’ve built our portfolio’s to a point we are comfortable) we decided to share the deals we would buy ourselves if were will still building our portfolio’s.

Clearly we can’t do this for nothing so we have started negotiating commissions with vendors (typically developers and insolvency practitioners) in return for referrals leading to sales.

To help ease the burden we have also teamed up with Kelvin Kingsley and we’ve created a new brand called “Your Property Concierge”.

The Property Ombudsman

To keep ourselves compliant we have registered the Trading Name “Your Property Concierge” with the ICO and also become a member of The Property Ombudsman redress scheme (membership number – D8072).

If you would like to be kept informed of properties we are marketing please complete the form below.

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Repossession Bargains – Already Let Landlord News, Latest Articles, Property For Sale, Property News

My friend Kelvin Kingsley has discovered some more repossession bargains, the difference being these are already let 🙂

They are modern two bed flats in Greater Manchester, built just a few years ago. Most of them are sold but there are a few remaining and they will soon be snapped up by investors at the current asking price of just under £70,000. They are let to hospital staff for £475 a month which equates to a gross yield of 8.1%.

There are several comparable sales listed on HM Land Registry and if you go back to the peak in 2007 you will see that these units were selling between the range of £108,000 to £145,000. To download a full copy of Kelvin’s “due diligence” please complete the form below.

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The Property Ombudsman Logo

We are now working exclusively with Kelvin who, as you will be aware if you are a regular reader of my articles, does not charge fees to investors as he is retained as an agent by vendors who are typically developers or insolvency practitioners. According to the Estate Agency Act 1979 this now makes us estate agents. Therefore, to keep ourselves compliant we have registered the Trading Name “Your Property Concierge” with the ICO and also become a member of The Property Ombudsman redress scheme (membership number – D8072)

 


Stephen Fincham of Haul-4U Cardiff GOOD Landlords Campaign Sponsors

The GOOD Landlords CampaignStephen Fincham of Haul-4U Cardiff

I am not a Landlord, but do want to support The GOOD Landlords Campaign and welcome the opportunity to network with members.

We offer FREE house clearance service in the South Wales area and are fully licensed waste carriers. I have excellent feedback in all we do offering a fast same day service and have been working with many estate agents and letting companies in South Wales

Continue reading Stephen Fincham of Haul-4U Cardiff


ICO Data Protection clampdown on letting and estate agents Landlord News, Latest Articles, Lettings & Management, Property News, Property Sales & Sourcing, UK Property Forum for Buy to Let Landlords

Data Protection letting and estate agentsA targeted campaign by the Information Commissioner’s Office (ICO) to get property agents to register under the Data Protection Act has seen a dramatic rise in compliance across the sector.

Since the ICO’s campaign began in September 2010, an additional 2,500 property agents have signed up, with 5,057 estate agents and 2,669 letting agents currently compliant. The campaign was undertaken after concerns that many property agents were unaware of their legal requirement to register.

Under the Data Protection Act (DPA), organisations processing personal information are required to register with the ICO. Failure to register is a criminal offence and could lead to a fine of up to £5,000 in a Magistrates Court, or unlimited fines in a Crown Court.

That’s the offence that a Hertfordshire estate agent was today prosecuted for, after failing to register with the ICO despite being contacted on three separate occasions. Ray Butler, of Butlers Estate Agents, was convicted under section 17 of the Data Protection Act at Hertford Magistrates Court. He has been fined £300 and has also been ordered to pay £405 towards prosecution costs, as well as a £30 victims’ surcharge.

Stephen Eckersley, Head of Enforcement, said:

“Registration is not just a legal requirement under the Data Protection Act, but shows that a company is committed to looking after people’s information correctly. This is particularly important for property agents as they will be handling highly confidential information relating to people’s finances.

“Since we launched our registration campaign in September 2010 we’ve seen a 36% increase in the number of estate agents who’ve signed up, with an even more impressive 88% increase among letting agents. We would like to congratulate the industry for stepping up to the mark and showing that they take their legal responsibilities seriously.

“However, today’s prosecution shows that rogue companies remain. This is not acceptable, and we will continue to take action where it is clear that a company is operating in blatant disregard of the law.”

Butler had been contacted on three separate occasions by the ICO and reminded of the need to register, but failed to reply on each occasion.

Advice and guidance on how organisations can register with the ICO can be found here

The ICO has produced an online self-assessment tool which companies can use to find out if they need to register. The tool is available on the ICO here

 


Repossession Property in County Durham Landlord News, Latest Articles, Property For Sale, Property News

Repossession Property in County DurhamMy good friend Kelvin Kingsley has come across an opportunity to purchase a completed 3 bed Town House in County Durham from a repossession company.

Other units on the development have sold in the open market. Two comparable properties are listed on the land registry for having been sold for £120,000. The one remaining unit is being sold for just £79,995 and should return a rental yield of 9%. Continue reading Repossession Property in County Durham


The 2013 buy to let goldrush Buy to Let News, Buy to Let Property Hotspots, Commercial Finance, Landlord News, Latest Articles, Property For Sale, Property Market News, Property News, Property Sales & Sourcing, Property Sourcing, UK Property Forum for Buy to Let Landlords

The 2013 buy to let goldrushI have had a ‘gut feeling’ that the property market would turn in 2013 for at least four years, however, until now I have not been able to provide any real justification as to why I believe the 2013 buy to let gold rush will occur.

A recent comment on our forum got me thinking about this again. It said something along the lines of …

“do you think property values will rise when the governments incentives to help fund deposits for first time buyers kicks in next year? I’m seriously thinking about bringing my plans forward and buying now in advance of the next property gold rush” Continue reading The 2013 buy to let goldrush


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