Just suppose you could buy property management from just £14.99 per month, per property in the vast majority of the lettings hotspots in England.
Would it really be worth the hassle of trying to organise everything yourself?
Could you be certain that you would be able to do it for less?
You might be forgiven for thinking that such an offer would be made by an unqualified agent who is cutting corners. However, what if I were to tell you the agent offering this service is fully bonded with ARLA and has client money protection insurance too?
Continue reading Property Management from just £14.99 a month
Landlord possession claims increase as rent arrears are at their highest level for four years. The Government’s quarterly court statistics show that in the second quarter of 2012 there were 25,422 landlord possession claims that led to an order being made.
Since 2010 orders made in England and Wales are up by 8% with Gloucestershire and Hampshire being hardest hit with both suffering increases of 29%. Figures from Templeton LPA show there are now 99,000 tenants in arrears of two months plus, which is the highest level since 2008 and a 15% increase on last year. Continue reading Landlord Possession Claims Increase
If you want to get your phone ringing off the hook next time you advertise a property to let just add the words “DSS Tenants and Pets Considered subject to guarantees.”
In this readers letter yesterday several landlords shared their horror and dare I say naivety of the law in some of the comments they left. Continue reading DSS Tenants and Pets Considered “subject to guarantees”
My first intentional property investment part 4 – “My first Property Management Checklist“
In the last instalment of the story of my first intentional property investment I promised to share with you the first property management check list I put together, it wasn’t perfect but it was a lot better than nothing. If you want to catch up on the other stories in this series please see my Landlords Log.
If you ask 2 different letting agents how they do inventories and condition reports, you’ll probably get 3 different answers.
The systems in place range on one extreme from None! by many landlords to carrying out detailed reports with lots of photos and notes. Continue reading Inventories, the easy way
Tenant Referencing comes in many guises but in this article I am going to focus on how landlords can outsource a major piece of due diligence and pass the risks of tenants failing to pay rent onto an insurance company by purchasing Rent Guarantee Insurance “RGI”.
The concept itself is very simple. The insurer performs checks on the tenant which allows them to establish that rent is affordable and is likely to be paid. The insurance company then insure against the risks to the landlord in the event of non-payment on the part of the tenant. This is what happens if the tenant stops paying rent if you have purchased an RGI policy and followed the correct procedures:- Continue reading Insuring against the risks of non-payment of rent
In the last article we looked at how a 21st Century Agency can ensure the security of a landlord’s portfolio even against its own default, and how in the process it could increase income year on year as well as minimise voids and arrears.
I would like to deal with the cancer that is the scourge of all portfolios – VOIDS. The best way of course is to have long term tenants who stay in the property for years on end which should always be the goal of the agent. Only charging one finders fee of half the first months rent in any one period of 18 months is a great incentive for the agency to find long term tenants. It also acts as an incentive to keep tenants in the property by ensuring they do not get into arrears, but if they do they are helped out of arrears as soon as possible thus maximising landlord income. Continue reading The 21st Century Letting Agent – Letting & Re-letting
I am writing this blog to balance out another article on this website and to raise a question about whether it is reasonable for a business to be exposed to a trial by social media.
Is it even possible that a group formed on Facebook could muster up enough support to potentially bring an established business to its knees without a fair trial? Until this week I would have thought not but I have evidence that it is happening right now. Continue reading Letting Agent Ripped Apart by Social Media
Landlord’s Log, the Personal Blog Of Mark Alexander, the Founder of Property118
** I was so shocked when I received this commentary last weekend that it has taken me until now to decide to post it. The following was sent to me as an email by a person who prefers to remain anonymous for obvious reasons. The commenter has not responded to my numerous emails. Is this a joke? I have decided to share it with you because; frankly I was flabbergasted and wanted to see what you have to say. I’ve decided to give this poster a name and a picture and in a strange sort of way I hope he will be back to entertain us all again with his responses to your comments. The name I’ve given to him (at least I think it’s a him) is “The Banker”. The following is what he had to say …
I knew that title would catch your attention.
One mans misfortune is another mans opportunity, mine!
You and your highly leveraged buy to let pals are all like lemmings heading towards a cliff, oblivious of your fate.
Well here I am, to warn you of your fate.
I’m not the only one hoping that the next boom will in fact be an implosion in terms property values, you call it a property crash, it will be the making of the likes of me. The chaps on that House Price Crash forum are doing me a big favour by talking up the next crash. Continue reading The Property Boom of 2012
An update to my previous video blogs entitled “My Tenant Has Done A Midnight Flit” and “Property Refurbishment Project”.
Please excuse the plug for my brothers businesses AA-Lettings and The Modernizer which operate in Kings Lynn and Norwich but I felt he deserved a bit of recognition for his innovation and help. Continue reading All Properties Now Let – Landlords Log 14