Have you noticed how many Estate Agents, who did not previously offer residential letting services, that have suddenly opened a lettings department to try and supplement their monthly income, and stop their businesses from going to the wall, as the house sales market continues to stagnate? Continue reading Estate Agents who become Part Time Letting Agents BEWARE says @MarkTrenfield
Cases of residential cannabis farming are still rising across the UK and, only this week, another Swindon rental property – in Durham Street – was found to have £160,000 worth of cannabis growing in it (see Swindon Advertiser lead story, 10th July 2012).
With drug crime sometimes causing property damage running into tens of thousands of pounds – how can the private landlord weed out these drug growing criminals? Continue reading How landlords can defend against cannabis farming by @MarkTrenfield
Having agreed to buy my first intentional property investment I soon realised that it’s a bit like a visit to the loo, paperwork is important!
I’d purchased my first home a few years before but to be honest I’d forgotten about all the paperwork I’d done at that time. All of a sudden it all came flooding back to me. I wonder if women go through something similar when they give birth to their second child? Never say never again!!! Continue reading Part two of the story of my first intentional property investment
Fraud investigators uncovered a ‘missing’ £85,000 from a failed letting agent that ran into financial problems after the supervising franchise closed.
Peter Swatton, 55, admitted fraudulent trading at Mold Crown Court, where he was jailed for 36 weeks suspended for two years, ordered to spend 300 hours on community work and to pay £600 costs. Continue reading £85,000 ‘missing’ as letting agent traded fraudulently
The latest news and cash flow tips for landlords. Vanessa Warwick offers her top 6 strategies to improve cash flow, Mary Latham calls on all landlords to understand what impact the Governments freeze on rents will have across the sector and Mark Alexander explains Property118’s relationship with Property Tribes, our chosen forum partner.
Continue reading Property118 Landlords Newsletter – Issue 92
A London council has set up the first local authority full management lettings agency for rental homes in the capital.
Harrow Council has run a property finding service for tenants but is extending the service to manage homes for landlords. Continue reading London Council Opens Letting Agency
So far in these articles we have looked at actions, activities and principles a 21st Century Letting Agency can adopt to deliver a truly 21st Century Service to their Landlord, but how will the landlord ever know if they are actually doing what they say they do? I, among the majority of landlords, have believed the words coming out of a Letting Agents lips only to regret it. From experience I am tempted to apply the old adage applied to politicians ‘If their lips are moving they are lying’ but that is a sad indictment of the industry and not actually true of the majority of agents. The trouble is that landlords are not provided with the means to judge whether the agency is living up to its claims or not. Yet this is the digital age with the internet superhighway and most landlords can access the internet, all sorts of companies provide their clients access to their own secure data. Even the NHS is considering this so why not landlords. Continue reading The 21st Century Letting Agent- Transparency
Midlands landlords are chasing rents and deposits from a letting agent who suddenly closed for business.
Police are looking at the demise of Baxter Todd, a letting agency with offices in Warwick, Leamington Spa, Coventry and Stratford-on-Avon.
The offices are closed, phone lines have been disconnected and emails go unanswered – although the firm’s website is still live. Continue reading Letting Agents Close Owing Landlords and Tenants Cash
In the previous article I tried to make the point that a Letting Agent should act like an Asset Manager, managing a landlord’s portfolio to maximise the benefit to the landlord. This could only happen if the interests of the landlord are directly aligned with the interests of the Letting Agent but if this did occur, it would revolutionise the letting agency sector.
However, even if the financial interests are aligned there are numerous other aspects of the service a modern agency should attend to in order to maximise the security of a landlord’s investment. After all, what good does maximising income do if the agency goes broke owing the landlord thousands of pounds or tenants with hundreds of pounds of arrears? Continue reading The 21st Century Letting Agent – Protecting the Landlord’s Interests
Over the last 30 years UK property prices have achieved average compound growth of approximately 10% each year for all areas and all dwellings. Property investment is not a quick get rich scheme but most futures are made with time, not timing! It is a manageable asset which you can control; you can see it and touch it. With property you can look forward to both positive cash flow and capital growth. Continue reading What does the Future Hold for Buy to Let?