In the West Midlands we are addressing the issue of educating the young to understand their future housing options, financial obligations and choices. I work on behalf of NLA with a consortium called HOMESTAMP (www.homestamp.com) and we are just coming to the end of a major project to get a module into the national curriculum for 14-16 year olds. Under the subject of Financial Management this module will help to break the cycle for many young people to prevent them becoming the 4th generation of their family to base their lifestyle on “benefits will provide”. This will be a reality check for those who may believe that becoming pregnant will ensure them a “nice little flat off the council”. Continue reading Maslow’s Theory Applied to Landlords and Tenants
I know there’s been a lot of mud thrown at lettings agents over the years mainly due to their high charges, limited ability and the fact that most landlords think “anyone can do it”. However, I always gave them the benefit of the doubt as, alongside being a Dartford Tunnel toll booth attenda Continue reading **%£~%! Lettings Agents!
There is a lot of talk these days about tenants needing security of tenure and organisations like Shelter would like Government to change legislation to force landlords to give tenants longer tenancies.
I acknowledge that tenants do need security and, as a landlord, I want to keep my tenants for as long as possible. Many people need to put down roots and build a life in an area but it is often difficult for them to do this when they are forced to move to a new home every six or twelve months. Continue reading We Need More Trust Not More Legislation and Regulation
Next year I will have been a landlord for 40 years and I am going to throw a boomerang at each of my good tenants via twitter (@landlordtweets) during the month of December. I am fed up of hearing tenants from hell stories, most of my tenants over the past 40 years have been great tenants and I am going to thank them all, past and present, for giving me financial freedom. Will you join me in throwing a boomerang at your good tenants?
If the boomerangs come back we might begin to hear stories about all the wonderful landlords that I meet everyday. Those who respect their tenants, those who know that it is because of their tenants that they have financial freedom, those who work hard to make tenants feel at home, those who perform little acts of kindness when tenants need support and friendship, those who take risks with tenants who would otherwise be homeless, those who tolerate tenants mistakes… Continue reading Landlords, Let’s Make December Celebration of Good Tenants Month
When a tenant has a beef with their landlord, I’m the guy they go to. My job is to either negotiate or prosecute, depending on the circumstances. This occasional and random series aims to let landlords know the common complaints that are made about them, the laws that cover them and how to deal with it.
My flatmates and I have big rows about bills and I am freezing and the landlord is ripping us off.
I can’t tell you how many times I get this complaint.
You let out an HMO to 5 or 6 tenants and they bring many issues with them- as so many HMO tenants do. There are 2 house styles for dealing with it:- Continue reading Hands on HMOs – Don’t Shoot the Messenger #2
I regularly give talks all around the country at landlord forums and property events. At the beginning of a talk, I usually ask landlords to raise their hands if they are using a letting agent. Over the last couple of years, there has been a noticeable shift where more landlords are beginning to self-manage their properties.
There could be number of reasons for this. However, self-management is not the right approach for all landlords – especially if they are not experienced in property management. Continue reading Should I be using an agent to let/manage my property?
Should I do my own Property Management or contract it out?
This is a question that every buy to let property investor or accidental landlord has asked themselves at some point.
There is no right or wrong answer to this question as it depends on a variety of circumstances.
I’ve been investing into property since 1989 and have a portfolio that stretches North to South, East to West of England. Whilst I’ve managed my properties myself, I’ve also used agents. Now that my brother has set up a Lettings Agency to manage our family portfolio he looks after most of them but we do still contract managing agents occasionally.
So what are the deciding factors on whether to manage your own portfolio or to contract the work out? Continue reading Property Management Advice