Privacy Policy
BACKGROUND:
Property118 Ltd understands that your privacy is important to you and that you care about how your personal data is used and shared online. We respect and value the privacy of everyone who visits this website,
www.property118.com (“Our Site”) and will only collect and use personal data in ways that are described here, and in a manner that is consistent with Our obligations and your rights under the law.
Please read this Privacy Policy carefully and ensure that you understand it. Your acceptance of Our Privacy Policy is deemed to occur upon your first use of Our Site
. If you do not accept and agree with this Privacy Policy, you must stop using Our Site immediately.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
“Account” |
means an account required to access and/or use certain areas and features of Our Site; |
“Cookie” |
means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below; |
“Cookie Law” |
means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003; |
“personal data” |
means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and |
“We/Us/Our” |
Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. |
- Information About Us
- Our Site is owned and operated by Property118 Ltd, a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Our VAT number is 990 0332 34.
- Our Data Protection Officer is Neil Patterson, and can be contacted by email at npatterson@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- What Does This Policy Cover?
This Privacy Policy applies only to your use of Our Site. Our Site may contain links to other websites. Please note that We have no control over how your data is collected, stored, or used by other websites and We advise you to check the privacy policies of any such websites before providing any data to them.
- Your Rights
- As a data subject, you have the following rights under the GDPR, which this Policy and Our use of personal data have been designed to uphold:
- The right to be informed about Our collection and use of personal data;
- The right of access to the personal data We hold about you (see section 12);
- The right to rectification if any personal data We hold about you is inaccurate or incomplete (please contact Us using the details in section 14);
- The right to be forgotten – i.e. the right to ask Us to delete any personal data We hold about you (We only hold your personal data for a limited time, as explained in section 6 but if you would like Us to delete it sooner, please contact Us using the details in section 14);
- The right to restrict (i.e. prevent) the processing of your personal data;
- The right to data portability (obtaining a copy of your personal data to re-use with another service or organisation);
- The right to object to Us using your personal data for particular purposes; and
- If you have any cause for complaint about Our use of your personal data, please contact Us using the details provided in section 14 and We will do Our best to solve the problem for you. If We are unable to help, you also have the right to lodge a complaint with the UK’s supervisory authority, the Information Commissioner’s Office.
- For further information about your rights, please contact the Information Commissioner’s Office or your local Citizens Advice Bureau.
- What Data Do We Collect?
Depending upon your use of Our Site, We may collect some or all of the following personal data (please also see section 13 on Our use of Cookies and similar technologies):
- Name;
- Date of birth;
- Address and post code;
- Business/company name and trading status;
- Number of properties owned;
- Accountants details;
- Contact information such as email addresses and telephone numbers;
- Proof of residence and ID;
- Financial information such as income and tax status;
- Landlords insurance renewal dates;
- Property Portfolio details such as value and mortgage outstanding;
- How Do We Use Your Data?
- All personal data is processed and stored securely, for no longer than is necessary in light of the reason(s) for which it was first collected. We will comply with Our obligations and safeguard your rights under the GDPR at all times. For more details on security see section 7, below.
- Our use of your personal data will always have a lawful basis, either because it is necessary for our performance of a contract with you, because you have consented to our use of your personal data (e.g. by subscribing to emails), or because it is in our legitimate interests. Specifically, we may use your data for the following purposes:
- Providing and managing your access to Our Site;
- Supplying our products and or services to you (please note that We require your personal data in order to enter into a contract with you);
- Personalising and tailoring our products and or services for you;
- Replying to emails from you;
- Supplying you with emails that you have opted into (you may unsubscribe or opt-out at any time by the unsubscribe link at the bottom of all emails;
- Analysing your use of our site and gathering feedback to enable us to continually improve our site and your user experience;
- Provide information to our partner service and product suppliers at your request.
- With your permission and/or where permitted by law, We may also use your data for marketing purposes which may include contacting you by email and or telephone with information, news and offers on our products and or We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that We fully protect your rights and comply with Our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003.
- You have the right to withdraw your consent to us using your personal data at any time, and to request that we delete it.
- We do not keep your personal data for any longer than is necessary in light of the reason(s) for which it was first collected. Data will therefore be retained for the following periods (or its retention will be determined on the following bases):
- Member profile information is collected with your consent and can be amended or deleted at any time by you;
- Anti-Money Laundering information and tax consultancy records are to be kept as required by law for up to seven years.
- How and Where Do We Store Your Data?
- We only keep your personal data for as long as We need to in order to use it as described above in section 6, and/or for as long as We have your permission to keep it.
- Some or all of your data may be stored outside of the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein). You are deemed to accept and agree to this by using our site and submitting information to Us. If we do store data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the UK and under the GDPR
- Data security is very important to Us, and to protect your data We have taken suitable measures to safeguard and secure data collected through Our Site.
- Do We Share Your Data?
- We may share your data with other partner companies in for the purpose of supplying products or services you have requested.
- We may sometimes contract with third parties to supply products and services to you on Our behalf. Where any of your data is required for such a purpose, We will take all reasonable steps to ensure that your data will be handled safely, securely, and in accordance with your rights, Our obligations, and the obligations of the third party under the law.
- We may compile statistics about the use of Our Site including data on traffic, usage patterns, user numbers, sales, and other information. All such data will be anonymised and will not include any personally identifying data, or any anonymised data that can be combined with other data and used to identify you. We may from time to time share such data with third parties such as prospective investors, affiliates, partners, and advertisers. Data will only be shared and used within the bounds of the law.
- In certain circumstances, We may be legally required to share certain data held by Us, which may include your personal data, for example, where We are involved in legal proceedings, where We are complying with legal requirements, a court order, or a governmental authority.
- What Happens If Our Business Changes Hands?
- We may, from time to time, expand or reduce Our business and this may involve the sale and/or the transfer of control of all or part of Our business. Any personal data that you have provided will, where it is relevant to any part of Our business that is being transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this Privacy Policy, be permitted to use that data only for the same purposes for which it was originally collected by Us.
- How Can You Control Your Data?
- In addition to your rights under the GDPR, set out in section 4, we aim to give you strong controls on Our use of your data for direct marketing purposes including the ability to opt-out of receiving emails from Us which you may do by unsubscribing using the links provided in Our emails.
- Your Right to Withhold Information
- You may access certain areas of Our Site without providing any data at all. However, to use all features and functions available on Our Site you may be required to submit or allow for the collection of certain data.
- You may restrict Our use of Cookies. For more information, see section 13.
- How Can You Access Your Data?
You have the right to ask for a copy of any of your personal data held by Us (where such data is held). Under the GDPR, no fee is payable and We will provide any and all information in response to your request free of charge. Please contact Us for more details at info@property118.com, or using the contact details below in section 14.
- Our Use of Cookies
- Our Site may place and access certain first party Cookies on your computer or device. First party Cookies are those placed directly by Us and are used only by Us. We use Cookies to facilitate and improve your experience of Our Site and to provide and improve Our products AND/OR We have carefully chosen these Cookies and have taken steps to ensure that your privacy and personal data is protected and respected at all times.
- All Cookies used by and on Our Site are used in accordance with current Cookie Law.
- Before Cookies are placed on your computer or device, you will be shown a cookie prompt requesting your consent to set those Cookies. By giving your consent to the placing of Cookies you are enabling Us to provide the best possible experience and service to you. You may, if you wish, deny consent to the placing of Cookies; however certain features of Our Site may not function fully or as intended. You will be given the opportunity to allow only first party Cookies and block third party Cookies.
- Certain features of Our Site depend on Cookies to function. Cookie Law deems these Cookies to be “strictly necessary”. These Cookies are shown below in section 13.5. Your consent will not be sought to place these Cookies, but it is still important that you are aware of them. You may still block these Cookies by changing your internet browser’s settings as detailed below in section 13.9, but please be aware that Our Site may not work properly if you do so. We have taken great care to ensure that your privacy is not at risk by allowing them.
- The following first party Cookies may be placed on your computer or device:
Name of Cookie |
Purpose |
Strictly Necessary |
JSESSIONID |
Used only to collect performance data, with any identifiable data obfuscated |
No |
__cfduid |
This cookie is strictly necessary for Cloudflare's security features and cannot be turned off. |
Yes |
- Our Site uses analytics services provided by Google Analytics and Facebook. Website analytics refers to a set of tools used to collect and analyse anonymous usage information, enabling Us to better understand how Our Site is used. This, in turn, enables Us to improve Our Site and the products AND/OR services offered through it. You do not have to allow Us to use these Cookies, however whilst Our use of them does not pose any risk to your privacy or your safe use of Our Site, it does enable Us to continually improve Our Site, making it a better and more useful experience for you.
- The analytics service(s) used by Our Site use(s) Cookies to gather the required information.
- The analytics service(s) used by Our Site use(s) the following Cookies:
Name of Cookie |
First / Third Party |
Provider |
Purpose |
__utma, __utmb, __utmc, __utmt, __utmz |
First |
Google |
Helps to understand how their visitors engage with our website |
_fbp |
First |
Facebook |
Helps to understand how their visitors engage with our website |
- In addition to the controls that We provide, you can choose to enable or disable Cookies in your internet browser. Most internet browsers also enable you to choose whether you wish to disable all cookies or only third party cookies. By default, most internet browsers accept Cookies but this can be changed. For further details, please consult the help menu in your internet browser or the documentation that came with your device.
- You can choose to delete Cookies on your computer or device at any time, however you may lose any information that enables you to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
- It is recommended that you keep your internet browser and operating system up-to-date and that you consult the help and guidance provided by the developer of your internet browser and manufacturer of your computer or device if you are unsure about adjusting your privacy settings.
- Contacting Us
If you have any questions about Our Site or this Privacy Policy, please contact Us by email at info@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. Please ensure that your query is clear, particularly if it is a request for information about the data We hold about you (as under section 12, above).
- Changes to Our Privacy Policy
We may change this Privacy Policy from time to time (for example, if the law changes). Any changes will be immediately posted on Our Site and you will be deemed to have accepted the terms of the Privacy Policy on your first use of Our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.
Mark Alexander - Founder of Property118
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up18:23 PM, 20th August 2013, About 11 years ago
Hi Will
In principle I like the theoretical concept, however, can an algorithm provide the level of accuracy and detail landlords would want?
I will leave that to the Property118 community to decide and add my comments later.
.
Vanessa Warwick
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up18:51 PM, 20th August 2013, About 11 years ago
Hi Will,
I absolutely LOVE the concept.
I had a play on the site and put in my own post code. It brought up some properties, but I could not click on the highest yielding one to go to the property listing?
How does your algorithm distinguish between a one bed flat and a three bed house? Or doesn't it?
What yield calculation do you use?
I would like to know more and there may be some synergy with your product with Property Tribes and another product we will be launching shortly. Will you be providing a widget that can be embedded in other people's sites?
How do you intend to monetise it?
Sorry for all the questions, but I am excited for you, and it would be worth us having a chat. 🙂
In the first instance, please also let the Property Tribes community know about your site and ask for their feedback too....
Neil Patterson
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up9:43 AM, 21st August 2013, About 11 years ago
Hi Will,
I like the idea:)
With regards to Vanessa's question about type of property I am assuming that as the only results shown are Yield which is a calculation based on the percentage of rental income to Value that this is irrelevant to the equation for now or are you planning to break down property types later.
I have done some test though and you still have some work to do on the results. I suspect where there is not a large amount of information available that this mathematically skews the results to show a very low yield some how. I suspect you have an error where it is taking too many property values and not enough rental incomes. This should be a ratio of 1 to 1.
Results for areas I know to have a reasonable yield have ranged from 1.07% to 2.46%.
I hope that helps.
Mark Alexander - Founder of Property118
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up9:54 AM, 21st August 2013, About 11 years ago
Hi Will
I agree with the comments left so far.
I have a few properties which are all yielding circa 6% around the postcode area of NR6 7HS. The system is showing average yields of 1.36 to 2.49%.
I'm good at what I do, and my properties are good too, however, I can't believe that my average yield is 3 or 4 times greater than the average for the area.
.
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up9:58 AM, 21st August 2013, About 11 years ago
Reply to the comment left by "Vanessa Warwick" at "20/08/2013 - 18:51":
Hi Vanessa,
Glad you like the concept. To answer your questions:
1. You're not able to link the available properties yet, it's on the to-do list!
2. The system compares properties of the same number of bedrooms when calculating yield. Properties with more than 5 bedrooms are all lumped together.
3. The yield calculation is (avg rent per week * 52 * 100) / avg asking price
4. Synergies sound interesting! Drop me an email at "support at dontbettolet dot com"
5. Options to monetise are advertising and possibly subscription. Depending on how accurate I can get the data some premium metrics might be work.
Will cross post onto Property Tribes. Thanks again for feedback.
Will
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up10:05 AM, 21st August 2013, About 11 years ago
Reply to the comment left by "Mark Alexander" at "21/08/2013 - 09:54":
Thanks Mark.
The current issue is the level of data cleansing needed when pulling data from Zoopla. For instance if you look at Oxford there is an area that apparently yields 15%! When I looked into this it's due a Canal boat for sale for £50K...it has one bedroom therefore is compared with the average rental of 1 bedroom properties (£750ish from memory). As I find this edge cases I am implementing filters to remove them. Same goes for retirement flats that haven't been classified correctly.
Another issue is sample size for an area. If there are not many properties available then results can be scewed...I actually calculate the yield for groups of postcodes in an attempt to increase the same size...postcode is just to granular. The London yields are probably the most representative due to the density of properties.
Thanks
Will
Jonathan Clarke
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up10:07 AM, 21st August 2013, About 11 years ago
I like the concept yes but the level of detail required for anyone to make a serious investment decision will never be achieved I fear. The data required to service that need is simply too overwhelming. At best an overview. But at worst distorting and misleading. There are many different ways to calculate yield and these all need to be highlighted before one even starts to contemplate mapping it out in any meaningful form.
It reminds me of Zoopla`s `current values` page. I have 2 virtually identical flats in the same block and it valued them 20K apart . Considering they are both circa 70K the price suggestion and differential is indefensible. Nothing beats first hand local on the ground knowledge in my view and some investors maybe tempted to make important decisions based on perhaps unintentional but nevertheless misleading data
Mark Alexander - Founder of Property118
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up10:17 AM, 21st August 2013, About 11 years ago
There is a very useful podcast about calculating yield on our Landlords calculator page - see >>> http://www.property118.com/landlords-calculator-v2/40091/40091/
You can listen to the podcast without downloading it and without any additional kit, other than speakers connected to you PC/or Mac of course!
Please check out our landlords calculator whilst you are there too 🙂
.
Neil Patterson
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up11:00 AM, 21st August 2013, About 11 years ago
Reply to the comment left by "Will Ogden" at "21/08/2013 - 10:05":
Hi Will,
From this comment about the canal boat and the calculation described as:
The yield calculation is (avg rent per week * 52 * 100) / avg asking price
Have I got my assumption correct that you are calculating yield using the average rent for a property of a particular size in an area compared to the average asking price for a property of that size in the area.
If this is the case then you will get a fairly wild swings from the Standard deviation Curve.
To be accurate for all areas the Maths need to be:
Annual rental income for that exact property expressed as a percentage of the actual asking price/value for that property. Then averaged out using all the individual calculations.
Unfortunately you will not get this data as you will not have the two figures together.
Therefore for low data areas the Standard deviation will always be extremely high.
e.g. You can have an average of 100 properties for sale, but only an average of 1 property for rent which is not statistically very relevant.
Are my assumptions correct or have I misunderstood?
Mary Latham
Become a Member
If you login or become a member you can view this members profile, comments, posts and send them messages!
Sign Up11:03 AM, 21st August 2013, About 11 years ago
i am not a teckie person but I do know my areas and the figures that I have just pulled up are a mile out. According to this my properties have zero yield in some areas and given that the sales prices have not been high recently and the rents very good I can't understand how this can be?
There are also additional overheads that I assume have not been taken into account in some areas and that these figures are only gross yield?
Take Oxford which is coming in at 15.46% the second highest. A very high proportion of the rented properties in Oxford are HMOs - let to students - property prices are very high, as are rents but there are the additional overheads of HMO licence fees for all of these properties and the cost of keeping them up to the required standards, on-going costs of high wear and tear and increasing demands for more extras. All of these things would need to added to the calculation and I assume that this would have to be done manually? There are also letting and management fees to consider and that can vary greatly even in the same areas. I have let in Oxford since 1972 and I have seen a huge increase in the on-going costs. The rental market is very buoyant but property prices have always reflected this.
It also has to be considered what you are going to do with the property. Will it be let as a family home or an HMO? The calculation for a single or family let are quite simple but those for an HMO are very complicated. Is it a traditional HMO - where the landlord must clean and maintain the common parts throughout the tenancy or is it a HA 2004 HMO that was once a shared house? Have some rooms been converted into bedrooms to bring in additional rent? Is it let to people on LHA at standard rates or will there be a top-up? The overheads during void periods also vary greatly especially since some local authorities are now charging Council Tax to landlords from day one and others are allowing 1-3 months exemption.
Even within the same post codes there can big variations in rents. Take the area around the University of Birmingham. A property that is at the bottom of the road and close to the uni gates will command a much higher rent than the same property at the top of the same road which is just 3 minutes extra walk and in the same post code.
Even in single lets there are variations. In some areas rents are affected by parking restrictions and having the front garden used as a car park will increase the rental income and reduce the voids. In other areas there is resident only parking and this too can vary in the same roads.
I would really love to see a way of accurately calculating the net yield on a property but perhaps that would need a system where all the questions are asked and the variables used in the calculation, otherwise this could be very misleading to inexperienced investors.
Follow me on Twitter@landlordtweets
My book, where I warn about the storm clouds that are gathering for landlords is here >>> http://www.amazon.co.uk/dp/1484855337