Vanessa Warwick

I agree with Ian.

This sounds like a nightmare.

There are two other possible options:

1. Put the property onto a Guaranteed Rent Scheme.

2. Sell the property to a tenant buyer.... Read More

With regards to water leaks in properties, I recently came across an innovative device called "FloodCheck" that stops this happening. It also stops excessive usage of water in a property, so good when landlord is paying the utility bills, such as in an HMO.

http://www.propertytribes.com/floodcheck-innovative-award-winning-product-for-protection-property-t-8328.html... Read More

Thought it worth mentioning .... It will become mandatory for all lettings agents to be a member of an Ombudsman Scheme next year!

I was at the NALS annual conference today and interviewed both of the Ombudsmen (TPO and Ombudsman Services (Property), and they talked about compliance and how membership of an Ombudsman scheme helps build consumer confidence.

Those agents who are already registered will find the arrival of regulation an opportunity to say that they had already voluntarily joined the scheme, a good way to differentiate themselves from those that waited to be forced!... Read More

Hi Tilly,

Yes, the red braces made me chuckle!

The reporter should have completed the ensemble with some pointy shoes, a loud tie, and gelled spiky hair!!

My husband Nick loves playing "spot the estate agent" when we are driving down a busy street. They do seem to all dress the same way. The ladies wear black and very high heels - not good for viewings on laminate floors, I would imagine! :)... Read More

I am pleased to report that "Meet the Landlords" has had a very positive impact for Castledene Lettings, who have taken on significant new business as a result of their appearance in the programme.

The alcoholic tenant who got the brand new flat has kept it immaculate and is behaving himself, even helping out in the local community.

Well done to JP and his team!

Did anyone watch C4 "Dispatches - Undercover in the property market" last night?

If so, what did you think?

If you missed it, I have written a review here:

http://www.propertytribes.com/review-channel-dispatches-undercover-property-market-t-9418.html

These programmes do little to show the positive sides of the property industry, and always focus on the rogues! I guess it makes "good telly"?!... Read More

@Puzzler

I have to agree with you.

It is not right to want all the benefits of being a landlord without accepting the associated risks and responsibilities.

Landlords who treat their properties as a business and their tenants as "valued customers" are far more likely to succeed than those who are "doing it on the side" imho.... Read More

I agree with Sally.

It would be a good idea to "test the market" first with a small scale operation, learn from the feedback, and adapt accordingly.

I do believe there is a niche for this type of offering so I hope Helen manages to get something off the ground. 🙂

This type of holiday - with vegetarian food - would certainly appeal to me!... Read More

LOL! No charge! :)... Read More

LOL!

They replied to my questions in writing, so I cannot comment on any "feel" of the information.

However, I spoke to Tim Newman at UKAR several times and it was clear to me that he was very committed to getting the correct information out there and he saw forums as a good way to do that.

Clearly, they cannot respond to individual cases, but they are interested in communicating with landlords and working through any problems/issues.

In fact, Mr. Newman said that, as a result of some of the field visits, landlords had been able to improve the performance of their portfolio, so he regarded it as a collaborative process!... Read More

Hi Neil,

I am sorry you feel like that. I think its great that they have even answered as Mark was adamant that they wouldn't!

I felt it snuffed out some misinformation - such as ... that ALL loans were going to be called in within 7 years.

If you post your question on Property Tribes, I wlll work with MX to get an answer, as they are monitoring the thread and are willing to answer any other general questions.

If you have any personal concerns about your MX mortgages, you should phone the information line we gave at the bottom of the thread.... Read More

I am pleased to be able to report that Property Tribes has secured definitive answers from Mortgage Express/UKAR about their policies to redeem their loan book.

http://www.propertytribes.com/industry-exclusive-mortgage-express-respond-property-tribes-enquiries-t-9392.html... Read More

The programme just aired and was short and somewhat generic. I have posted a full review on Property Tribes if you missed it.... Read More

Thank you Mark.

I forgot to say to Helen that I think these themed/"niche" holiday ideas have the potential to be really profitable.

Self catering accommodation is the fastest growing sector of the tourism industry.

Combine that with people's growing interest in health and wellbeing, and the fact that you can market very effectively to niche audiences via the web, and I believe that you are on to a winner!

A USP like this creates a really stand out offering in the market place too!

A family friend of ours has a wellness business with special beds, water filters, air filters etc. and I wanted her to set up a "wellness" holiday let for people in need of complete recuperation or relaxation. Sadly, she did not run with this idea, but I am sure the demand is there and could create a very profitable little niche for someone!! She could also sell the products used in the home for an extra income stream .... Guests would have had the chance to test them - try before you buy - and then order them for their own home. (These were expensive products so a good way to get new customers in!).... Read More

Hi Helen,

To sub-let a standard BTL property and set it up in the way you describe would be a breach of the owner's T & C's of their mortgage conditions.

You would also need to take out specialist holiday let insurance.

The only way it might work was if you found a property where the owner does not have a mortgage on it, and would be willing to allow the property to be used in this manner.

Why not speak with a local hotel, negotiate a room rate for your guests, and book a room at the hotel, or nearby, to undertake the yoga classes etc? You can create your own "package" in effect. You could test the idea without too much commitment.

Alternatively, book a large holiday let for one month, stay in one room yourself, and sub-let the other rooms to your guests.

Obviously, the weekly rate of a holiday let is a lot more than a standard BTL, so, unless you negotiated a discount for a long booking, then the numbers probably wouldn't stack up.

For everything to do with Holiday Lets, visit the Holiday Lets Tribe on Property Tribes - one of the the U.K.'s leading sources of information for holiday rental owners.... Read More

Sorry I should have been more clear.

It's not like a court case. It is more informal, and for that reason, I do not believe that each party will be shown the other's evidence to comment upon.

The outcome is reached through the evidence supplied to the adjudicator, and he can only reach a decision based on the evidence he is provided with. I do not believe that they go to and fro getting feedback on what each party says about each other. It's not that kind of scenario.

I pointed the OP to the "Think like an adjudicator" video as that gives insights into how the adjudication works (at TDS anway) but maybe DPS are different?... Read More

Hi Daniel,

My understanding is that the ADR process is fairly informal.

If you visit TDS's YouTube channel, they have a number of videos explaining how it all works.

http://youtube.com/tenancydeposits

However, the more documentary evidence such as inventory, photos, receipts, email correspondence etc. that you can supply, the better!... Read More

My believe is that we educate and empower good tenants and good landlords to find one another.

This will leave the rogue landlords and rogue tenants to find one another, and have some chance of cancelling each other out!

A very simplistic view, I know, but one that I think can work by good landlords working together and promoting best practice to new landlords via forums such as P118 and Property Tribes.

Remember, we didn't have these communities even 5 years ago, so they are an amazing way to connect and share and ensure that new landlords get the right information to run their properties as a business.

Robust and healthy debate is an important part of that process, as we can ALL learn. :)... Read More

Hi Denise,

I am really sorry that you took my comment personally. That was not my intention.

I was hoping to provoke some debate and challenge your thinking that you are an "amateur" landlord, because I believe that this puts you in a risky position.

I also agree with Andrew that not everyone is suited to being a landlord and there should be barriers to entry, mainly to stop those people who want to make a lot of money , without providing any kind of service to their tenants. People with £££ signs in their eyes often make very poor landlords because they are coming at it with the wrong mentality.

A lot of very anti-landlord people read these forums, and saying you are just dabbling as a landlord gives them a lot of ammunition to attack ALL landlords.

I was a tenant once myself and I try and see everything from the customer's point of view, because, let's face it, if we don't have tenants, none of us have a business.

Therefore tenants welfare and safety and happiness should be at the heart of everything we do, and that surely demands a professional approach?... Read More

Mark,

I must confess that the comment about being an "amateur" landlord and only "dabbling" at being a landlord really incensed me.

Are tenants allowed to be "amateur" tenants and only "dabbling" at being your tenant?

NO!

Landlords have to adhere to over 70 government statutes and regulations. These make no distinction as to whether a landlord regards themself as "professional" or "amateur".

Why should a landlord be allowed to enjoy all the benefits of property investing, but avoid the associated responsibilities, and being professional?

When interest rates are low, does the "amateur" landlord pass that on to the tenant in the form of a reduced rent?

OF COURSE NOT!

The relationship between a landlord and a tenant is based on professional practices and obligations that need to be adhered to on both sides.

If you are not prepared to view your activity as a landlord as professional, then I say ... Don't be a landlord!

I wrote "Questions to ask yourself before becoming a landlord" to stop people thinking that a tenant is just a rent payment:

http://www.propertytribes.com/questions-to-ask-yourself-before-becoming-a-landlord-t-5988.html

Amateur landlords trying to wriggle out of responsibilities on the basis that they are just "dabbling" gives the PRS a bad name and fuels anti-landlord sentiment.

Interest rates ARE going to go up, and the BOE will not make a distinction between an amateur or professional landlord.

People need to accept the downsides just as much as they want the benefits, and the only way to do that is to treat it like a business and act in a professional manner at all times!

Rant over!! :)... Read More

For clarification Mark, I meant that serving notice on the tenant because they had become "awkward" (to use your word) could be percieved as "retaliaratory eviction".

Sorry for any misunderstanding.

This matter can be easily sorted through the measures I mentioned above.... Read More