Tag Archives: Prime Location

Guaranteed Rent – A Warning for Landlords Buy to Let News, Cautionary Tales, Landlord News, Latest Articles, Lettings & Management, Property Investment News, Property Investment Strategies, Property News, UK Property Forum for Buy to Let Landlords

Guaranteed Rent Warning for LandlordsA growing number of Landlords are falling for a “Guaranteed Rent” scam which enables a landlord or an agent to sublet a property.

There are several examples of how this works, below is a relatively “clean” one, I will share a much nastier example of how landlords are being stung as comments begin to appear in the forum thread below this article:- Continue reading Guaranteed Rent – A Warning for Landlords


Some good News for Landlords in Scotland at last Landlord News, Latest Articles, Letting, Lettings & Management, Property Investment News, Property News

Good News for Landlords in Scotland at last

I keep in touch with what’s going on in the lives of my fellow landlords North of the border via my friends at the Scottish Association of Landlords (SAL) and via listening to members of the Association, many of whom joined SAL on my recommendation.

Members of SAL tell me landlords in Scotland are feeling the pinch of all the new regulations. Letting Agents fees are rocketing to offset the premiums they used to charge to tenants and many of the online portals have pulled out of working with Scottish landlords altogether.

Just because I don’t own any properties myself in Scotland doesn’t prevent me from keeping an eye on the market to look out for solutions though, my ancesters are Scots so I know that every penny counts.

The new regulations might be a pain in the neck for some (OK most!) but as they say, as one door closes another one opens.

I’ve been discussing the challenges with several of my contacts and one of them, an online letting agent (member of the Scottish Association of Landlords and ARLA), has decided to buck the trend and create a brand new product for Scottish landlords whilst their competitors are exiting the market in droves.

This is an overview of their product and I would be very interested in your feedback, especially if you own and let properties in Scotland.

Scottish Landlords Letting and Rent Guarantee Package

  • Advertising of your property on all the major property portals (Rightmove, Zoopla, Prime Location etc)
  • Tenant referencing
  • Dealing with Deposit Protection
  • Rent collection
  • Legal Expense Insurance Cover and Rent Guaranteed for 12 months up to £2,500 pcm and £25,000 in total (with an option to renew each year)
  • Eviction Proceeding costs covered

What’s more, you remain in control. You do the viewing so you get to look your prospective tenants in the eye and decide whether you want them living in your property. This also helps keeps costs down 🙂

The outcome of a tenancy is set at the beginning I think you will agree? However, on top of the increased regulation in Scotland and the associated costs being passed onto landlords, rent arrears, which are every landlords worst nightmare, are increasing too.

One bad tenant can leave you unable to pay your mortgage with prospects of losing your property and possibly bankruptcy. Worse still the court system can take well over 6 months to achieve eviction!

Add to that extortionate lawyers fees and damage to the property, is it any wonder that rent arrears and rising costs of compliance are the biggest fear amongst Scottish landlords?

The rent arrears situation is getting worse.

Arrears are increasing, courts are closing and the process of re-gaining possession of your property is taking longer and longer…

Is it any wonder that “professional rent dodgers” are having a field day?

Things are now about to change for the better for Scottish Landlords though 🙂

The rent guarantee insurers are happy to partner with the agent offering the above scheme due to their unparalleled tenant find and vetting procedure which provides for low risk letting.  

The bottom line is that if the tenant does not pay – you still get paid, and you still save money :-)

Given that 10% of tenants are in arrears amounting to thousands of pounds, and you get rent protection and legal cover, you’d expect a hefty premium wouldn’t you?

Not so – because of this letting agents bulk buying power already established in England and Wales, all of the above can be offered for a full year for just £247 + VAT. Compare that to the fees that your letting agent charges!

It get’s better though!

The deal even comes with a Money Back Guarantee!

If your property is not “Let Agreed” within 30 days you can cancel your instructions and have a full refund.

It’s a meaningful guarantee too, not from some two bob business operating from a bedroom, these agents are qualified members of ARLA and are also members of the Scottish Association of Landlords.

So, why take the risk with your property when you can use this service and get complete peace of mind at such an incredible price?

To find out more please complete the form below.


How private landlords can beat the rent arrears problem Advice, Buy to Let News, Landlord News, Latest Articles, Property Investment News, Property Investment Strategies, Property News, UK Property Forum for Buy to Let Landlords

How to beat rent arrearsRent arrears are every landlords worst nightmare.

One bad tenant can leave you unable to pay your mortgage with prospects of losing your property and possibly bankruptcy. Worse still the court system can take well over 6 months to achieve eviction! Continue reading How private landlords can beat the rent arrears problem


UK Landlords Austerity Tips for 2013 Landlord News, Latest Articles, Property News

UK Landlords Austerity Tips for 2013Here at Property118 we constantly share ideas to help UK Landlords to reduce your costs and maximise your returns. These are our austerity tips for 2013, each section is linked to the relevant page of our website where you can find out more and make contact with the providers of products and services we currently recommend. Links are in slightly larger bold text, blue in colour and underlined. Continue reading UK Landlords Austerity Tips for 2013


Auction Property Refurbishment Case Study & Video Buy to Let News, Landlord News, Latest Articles, Lettings & Management, Property Auctions, Property Investment Strategies, Property News, Property Sourcing

Auction Property Refurbishment Case Study & VideoI’ve been having a twitter conversation with a chap called Yemi Edun who specializes in buying tired, prime location, London apartments at auction and then refurbishing and letting them on behalf of buy to let investors.

Yemi tweeted me links to a couple of You Tube video’s where he’s appeared on BBC TV’s “Under The Hammer” and they were so good I felt compelled to add one of the video’s I watched to Property118 along with my own commentary and blog. Continue reading Auction Property Refurbishment Case Study & Video


Student BuyToLet Properties Sunderland – 10% yield Property For Sale, UK Property Forum for Buy to Let Landlords

 
An existing halls of residence in the heart of Sunderland, Dunn House has been identified as a prime location for private investment, due to the shortage of student accommodation in the area, in relation to the high number of students enrolled at the university.

Student BuyToLet Properties in Sunderland – 10% yield

Currently undergoing an extensive refurbishment to elevate it to the high standard now considered a benchmark for boutique student accommodation, the residence is comprised of 109 single and double studio units and is assured to generate investors 10% NET rental returns for years one and two. Continue reading Student BuyToLet Properties Sunderland – 10% yield


Students put good housing just ahead of costs Buy to Let News, HMO's & Student Lets, Landlord News, Latest Articles, Property News, Property118 News

Students are more likely to rent good quality homes while away at university than worry as much about price or location, according to a new study.

Nevertheless, around two-thirds consider landlords are still charging them too much for accommodation, says the research by student housing provider FreshStart Living. Continue reading Students put good housing just ahead of costs


Open Letter to Grant Shapps from Farah Damji Guest Columns, Latest Articles

*Property118 is not in any way aligned with Kazuri nor Farah Damji, but we believe questions should be raised about the funding being poured into Shelter and Crisis to work with private landlords when they have done and continue to do so much to damage the reputation of the Private Rented Sector. We believe this matter is of interest to all landlords and we thought it was worth bringing to your attention the actions which Ms. Damji is taking to block this allocation of public funds.*
*A response from Crisis to the content of this open letter has been published in full in the comments below.*

Dear Mr Shapps,

I write in dismay about the additional funding being given to charities such as Crisis and Shelter next month to “help end homelessness” in the private rented sector (PRS). This is referred hereto on the Crisis PRS website:

The Crisis PRS Access Development Programme funds new community based services that help single homeless people find and sustain good quality accommodation in the private rented sector (PRS). It builds on Crisis’ history and expertise in PRS solutions to homelessness and represents an investment of over £10m of DCLG funding over a three year period. Continue reading Open Letter to Grant Shapps from Farah Damji


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