Tag Archives: Rightmove

Buy to Let Property Sales – Partnering With Estate Agents Buy to Let News, Landlord News, Latest Articles, Letting, Lettings & Management, Property Development, Property For Sale, Property Investment News, Property Investment Strategies, Property News, UK Property Forum for Buy to Let Landlords

Earlier this year we spotted an opportunity to set up a buy to let Estate Agency. However, due to lack of resource (time) very little has been done other than a dozen or so sales on behalf of developers, plus setting ourselves up with The Property Ombudsman Service and organising Professional Indemnity insurance to keep ourselves legal of course.Buy to Let Estate Agency

The reason we haven’t got around to growing the buy to let Estate Agency business is that our passion is facilitating the sharing of best practice amongst landlords and letting agents on the Property118 forum which I set up just over two years ago. Prior to that I was a commercial finance broker and I’ve been a landlord since 1989.

The opportunity is a very simple one. Nearly 200,000 landlords and associated professionals subscribe to our daily newsletters and engage on the Property118 forum. Some of these people are no doubt in the market to buy more property. It occurred to us that most properties are sold with vacant possession, however, for landlords that can be a bit of a nightmare as both the vendor and the purchaser both experience costly void periods.

Rightmove and the Zoopla Property Group portals are ideal to sell properties with vacant possession but if a landlord wants to sell or buy a tenanted property these portals are far from perfect as there’s no search facility for buy to let property. Furthermore, their interfaces are not geared up to show rental yields, returns on capital invested, costs of letting etc. At Property118 we have created a landlords calculator to work all of these things out

As we haven’t got time to source properties to sell, never mind to prepare sales particulars, do floor plans, arrange viewings and progress chase offers through to completion, our idea is to work on a split commission basis with other agents.

We will showcase properties on the Property118 forum and link to them in the daily Newsletters. Enquirers will be landlords who may well already own properties in the area, hence for agents who partner with us on this venture, all referrals will be good leads for future sales and letting opportunities as well as prospective purchasers of the property which is being marketed.

From the landlords perspective, they will be presented with properties which are already let and will have no void periods and perhaps most importantly, without any buyers premium attached to them. The sales particulars will include details of the tenancy including:-

  • rent currently being paid
  • profile of the tenant
  • time already in the property
  • management fees currently being charged
  • other expenses relating to the management/maintenance of the property

This information, together with an indicative financing quotation will enable us to calculate not only rental yields but the cash on cash equivalent annual returns after all costs including mortgage, insurance, lettings and management, a sensible maintenance budget and where appropriate any ground rents or service charges. This will enable investors to compare cashflow returns on their money to the returns they are currently receiving elsewhere on their investments. The potential for capital growth is obviously a primary reason for people to invest into property too of course.

We will not allow this activity to overwhelm what we do here at Property118, therefore, we will cherry pick the properties we want to promote based on those which we believe make sense to buy as investments.

It is unlikely that we will be in a position to accept instructions directly from landlords to sell their properties due to the lack of infrastructure to provide a sufficiently professional service, i.e. floor plans, viewings, for sale signs etc. Therefore, any such enquiries will be referred back to the agencies we end up partnering with. Landlords are, of course, also welcome to introduce us to any agencies they are already working with as we will not get tied into any exclusive contracts. Our independence is vitally important to us.

I would like to have a chat with any agents who see some mileage in this opportunity. I have some ideas on splitting commissions but I am very open minded at this stage as the project is very much in its infancy.

Mark Alexander - Your Property ConciergeIf you would like to chat please comment below, email me  – mark@property118.com or call me on 07834 754 223.

Regards

Mark Alexander – founder of Property118.com


Rightmove moves to real time uploads Latest Articles, UK Property Forum for Buy to Let Landlords

Every renter can profess to the frustration of seeing a property listed online and calling up just to be told “sorry, that’s just gone, but if you would like to register with us.”

Imagine if prospective renters and buyers were sent an update the moment a landlord or vendor instructed their agent.
Rightmove are currently testing a ‘Real-Time Data Feed’ (RTDF), allowing agents to list property instantly.

While a real-time listing API (Application Programming Interface – allows computers to talk to each other) is overdue, Rightmove’s RTDF is well produced as a thoroughly modern JSON-based API.
Rightmove are the current dominant property portal in the UK, with Zoopla quickly coming up in their rear view mirror. With both services providing near identical experiences for consumers, innovations like these could be key.

In a world of instant data and a fast-moving property market, those agents who can list live to Rightmove, will get applicants and enquiries before they return from their appraisals/valuations.

Take up of the new service will be dependant on the 350plus agency software companies that feed listings into portals like Rightmove and Zoopla. Comments on Zoopla’s public API forums indicate Zoopla has no plans to provide a listing API (http://developer.zoopla.com/forum/read/160852).

There are many property tech start-ups in London making noise about replacing Rightmove. This new listing ‘standard’ may prove an opportunity to tie closer with both portals and agency software providers, giving their own innovations easier distribution to agents.stopwatch


Rightmove doubles 2013 forecast for house prices Latest Articles, Property Market News, Property News

Rightmove doubles 2013 forecast for house prices as it reports ‘aggregation of marginal gains’ fueling a predicted 4.8% annual growth.

There have been seven monthly rises on the trot and two consecutive record months as the price of newly marketed property increases by 0.3% (+£860) in July boosting year-on-year growth to 4.8% (+£11,561)

Rightmove’s 2013 forecast has been increased from 2% to 4% as latest increases fuel recovery of the housing market.

There are signs finally of a broader-based recovery with all regions up year-on-year for the first time in nearly three years contributing to the positive national picture. Confidence in the market is said to be on the up with the proportion of people expecting average prices to be higher a year from now doubling compared to this time last year, now at 62% from 31%.

Rightmove reports an increase in movers and predicts more to come as property transactions are already up 5% year-to-date and lead indicators suggest more in the pipeline. Email enquiries to agents and developers are up 18% on 2012, new sellers up 5%, mortgage approvals up 6%.

It has already been reported that Surveyors are struggling to cope with the increase in demand with waiting lists for surveys pushing up into weeks. This is however also due to the number of Surveyors who have left the market since the Credit Crunch.

Rightmove along with many financial analysts predict a positive borrowing window as markets do not expect a base rate rise for three years. Funding for Lending competition is easing rates and availability of finance, plus the ‘brick-shortage success’ of Help to Buy!


Letting Supermarket provides massive cost saving opportunities for private landlords Buy to Let News, Latest Articles

Letting Supermarket provides massive cost saving opportunities for private landlordsI am a non-exec Director of Letting Supermarket, an ARLA member letting agency which we have been recommending to Property118 readers since the end of 2012.

The feedback received from landlords we’ve referred has been superb with savings of 50% or more being reported when compared to other ARLA member letting agents. Continue reading Letting Supermarket provides massive cost saving opportunities for private landlords


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


Advertise property to let, reference tenants, guarantee rent – one package Landlord News, Latest Articles, Property News

Advertise property to let, reference tenants, guarantee rent - one packageHow difficult can it be to advertise property to let on all the major rental portals, reference the tenants properly and guarantee the rent and legal expenses in one package with money back guarantees?

It shouldn’t be difficult should it?
Continue reading Advertise property to let, reference tenants, guarantee rent – one package


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


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


Latest Newsletter dated 22nd February 2013 Landlord News, Latest Articles, Property News, UK Property Forum for Buy to Let Landlords

NEWS from Paragon Mortgages for Professional LandlordsThis week 29 pages have been added to Property118.

(Links to the relevant pages are in blue and underlined).

5 Readers Questions Articles and Discussions

  • I think my tenants removal company knocked my garden wall down
  • Legal advice required on Scottish HMO issue
  • Shared ownership – can this be done on leasehold flat?
  • Should I sell tenanted or serve notice and sell with vacant possession?
  • Parting company with my letting agent

3 New Auction Catalogues for you to download

  • Network Auctions 6th March 2013 – Glaziers Hall, London SE1 9DD Commencing: 1pm
  • Pearsons Property Auction 5th March 2013 – 11am Hambledon Suite, The Solent Hotel, Fareham, PO15 7AJ
  • Salter McGuiness Property Auction 5th March 2013 – 1.30pm Quality Hotel, Empire Way, Wembley, HA9 0NH

11 New Articles containing News and Reviews:

To keep you up to date and help you to save money, minimise risks and maximise returns

Some 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…

Kent Reliance release new buy to let range for portfolio landlords

Buy-to-let products with no restriction on the size of the landlord’s portfolio. They are available for loans of up to £1m at 85% LTV, and at 75% TV for loans over £1m.

Property Portfolio Review Spreadsheet – FREE Download

This property portfolio review spreadsheet calculates your rental yields net of voids, the interest rate which will make your portfolio cash neutral and the true costs of rental void periods

Suffolk Holiday Homes on sale at bargain prices

You could own one of these 3 bed, brick built, double glazed Suffolk Holiday Homes for personal use or as an investment for just £55,995. That’s not the deposit, it’s the cash price!

A Landlords Mid Life Crisis

OMG, what have I done to this poor landlord! I wrote an article a while back called 10 things landlords must do before it is too late.

Tenants in Scotland missing vital deposit protection information

Tenants in Scotland could be missing vital information which can affect the return of their deposits at the end of the tenancy.

LANDLORDS – don’t let tenants steal your property

Is it even possible that tenants could steal a property you might ask! As part of its campaign to stamp out property fraud, the Land Registry has just set up a dedicated phone line.

Oxford – Not Hot But Always Warm!

I am often asked why Oxford represents such an attractive option for buy to let property investors.

Wealth Tax proposed by Lib Dems could affect Landlords

One of the best forum posts I’ve ever seen on the topic of economics and  the proposed new Wealth Tax.

Sprightly start to 2013 but ‘old hands’ support the market

Rightmove have just released their February 2013 House Price Index which shows a “Sprightly start to 2013”

Residential Property Inventory Services In A Nutshell

What is an Inventory? To sum it up in simple terms, an inventory is a detailed list using specific phrases to describe the features, items and condition of a property.

Good Landlords Campaign Click Here to see Sponsors

We would like to welcome the following new sponsors of the Good Landlords Campaign

  • Peter Harris of Bristol

  • Anthony Altman of Platinum Property Sheffield
  • Brian Turner of SCPR Sheffield
  • Dave Gardner of Top Management Wellingborough

  • Matthew Farrow of Phoenix Independent Advisers Cromer

  • Richard Baker – Northampton and Rugby
  • Oliver Cornes of Juicy Property London

  • Bill Cooper of WDC Rentals Ewloe

  • Glyn Jones of GPJ Ltd Stockton on Tees

  • Ramesh Pindoria of Regal Estates Willesden

Don’t miss this opportunity …….

Don’t miss this opportunity …….

The closing date to become a founder member of The GOOD Landlords Campaign is fast approaching. It doesn’t matter whether you have one property or you are a full time landlord, we welcome anybody who believes in sharing best practice in the UK Private Rented Sector. That includes letting agents and other associated property professionals…


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.

Oops! We could not locate your form.


Property Forum and News website where UK landlords and letting agents share best practice