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
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Sign Up8:38 AM, 31st May 2013, About 12 years ago
Hi Matt
If you buy a property for £120,000 and rent it for £550 pcm that's a 5.5% gross yield.
If you manage to get a 75% mortgage that would equate to £90,000.
Let's assume an interest rate for now of 4%. That would equate to interest only mortgage payments of £300 pcm. If interest rates go up to say 6% the interest alone would be £450 pcm.
To get accurate figures see our mortgage sourcing tool which is free to use >>> http://www.property118.com/buy-to-let-mortgage-calculator-2/
You have explained your acquisition and mortgage strategy but you have not mentioned insurance, costs of finding tenants, maintenance, management and void periods etc. Based on the figures you have quoted I would suggest this is too tight unless you have a very good surplus income to offset the negative cashflow you would undoubtedly have based on the figures you have suggested?
Is your strategy based on producing income or holding for capital growth?
Can you afford to fund negative cashflow?
I'm asking these questions as some people are happy to subsidise their investments as an alternative to contributing to a pension scheme. If that's not the case for you I seriously think you should reconsider your strategy, either by borrowing a lot less in terms of LTV or looking at other types of properties in other areas. I would also question the basis of your decision to hold £30,000 of capital in reserve, what was the formula you used to arrive at that figure?
I strongly recommend that you do a LOT more reading before you jump into this. The spin off articles from the page I created to share my "Top 20 Tips for Landlords" should keep you going for at least a couple of days. As you work though it, please feel free to post questions on each page as you go and I will be pleased to answer them, as will others in the Property118 community no doubt. The link you need to get you started is >>> http://www.property118.com/my-top-20-tips-for-landlords/
I have been a landlord for 24 years now, if only I knew then what I knew now! If only I knew what I know now just 10 years ago.
When I got into property investment there was no internet and there were a lot less landlords. Getting to talk to them about their strategies was very difficult as it felt like prying into other peoples business. Since the internet all that has changed and we freely exchange information. Despite all the challenges I had to overcome I've done very well out of property and I now live off my property investment portfolio. I stopped buying and started living a few years ago. My passion now is to share my experiences with anybody who will listed. It's far cheaper to learn from other peoples experiences than it is to make your own mistakes. Like many other landlords who have done well for themselves I share without charging. All I ask in return is that you sponsor The GOOD Landlords Campaign. I set up this forum using my own funds but my goal is for it to be self financing based on donations. Please see >>> http://www.property118.com/sponsor-the-good-landlords-campaign/
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Sign Up9:39 AM, 31st May 2013, About 12 years ago
Hi Mark,
Thanks for your quick response.
I would like to build a portfolio with a mix of properties some giving cash-flow and others giving me capital growth.
I take on board your point that 5.5% gross yield is too tight and whilst I do have very good surplus income I still wish to create a more balanced portfolio which gives me positive cash flow.
I think I will have to re asses the areas I am looking at for 8% gross yield. Are there any articles that offer advice on how to approach achieving this? I'm finding it a challenge so far to identify these types of property.
My thinking around my cash reserve is to have a buffer that will cover voids and maintenance costs. I fully intend to increase this as I increase the number of properties I purchase. I think I read on this site that 20% of the portfolio value would be an optimum cash reserve.
By the way this site is a fantastic resource for newbies like me, along with property tribes which I also visit regularly.
Thanks
Matt
Mark Alexander - Founder of Property118
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Sign Up10:16 AM, 31st May 2013, About 12 years ago
Hi Matt
I need to ask you a question in order to look into this for you, where are you based?
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Sign Up11:06 AM, 31st May 2013, About 12 years ago
I'm in the North West near to, Blackburn/Whalley area.
Appreciate your help.
Mark Alexander - Founder of Property118
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Sign Up12:29 PM, 31st May 2013, About 12 years ago
Hi Matt
I've had a quick look on Zoopla and there appears to be a discict lack of shared accommodation to let within a 3 mile radius of Whalley Range - see http://goo.gl/3ZJtW
Have you considered buying three bed houses and letting them by the room?
The going rate appears to be around £300 pcm so you could rent a three bed property for £900 a month.
Another search of Google in the same area revealed that 3 bed properties are selling for as little as £65,000 - see >>> http://goo.gl/FnD86
I don't know the area but this is the kind of initial research you can do from your PC without leaving the house. Obviously the next step would be to talk to letting agents and other landlords in the area and then go and take a look at the area and the properties yourself.
To test the rental market before you buy you could always advertise the the rooms to let in a local newspaper or on with Sparerooms.co.uk or an online letting agent. Obviously you would need to get the owners permission to do this first.
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Sign Up17:44 PM, 31st May 2013, About 12 years ago
If you rented out by the room this would make your property a HMO. In Manchester, you need a licence from the council to do this (See Manchester MBC website) and they are not giving any. Literally not one ! The only way around this in Manchester is to buy an existing HMO which already has a licence. The penalty for running an unlicenced HMO is £20,000.
Mick Roberts
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Sign Up9:01 AM, 1st June 2013, About 12 years ago
Very good answer, stopped buying a few years ago & started living. That's where I am now, when u have bought so many, u do get sick of the buying & the intensity etc. But for the new people, if they have the passion & the energy, then go for it. But as Mark says, yes, please listen on here, your margins are far too tight. I'm at the completely other end of the Spectrum, when buying, buy for 50k, normal rent £525, but a few times, get £900pcm on a 50k house, that's what I try to aim for & get disappointed when I get a 'normal' rent.
AnthonyJames
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Sign Up10:11 AM, 1st June 2013, About 12 years ago
Have you thought of changing your strategy and doing a mix of renovation/development and renting? With £140K of capital you could look at acting like a small builder: buy a house on a BTL mortgage with a low LTV, use your spare capital to renovate, sell at a profit, and move on. You could keep repeating this strategy, or occasionally hang on to a house and rent it out in the normal way to slowly build up a rental portfolio that gives you a steady long-term income to back up your development work (and ultimately top up your pension).
By this means you don't reply on long-term capital growth in the general housing market, with all your capital tied up in a low-yielding rental property, but make your money work harder for you. It partly lubricates access to extra capital from third parties (the mortgage) and partly pays for the value you are adding through the renovation.
Of course this strategy relies on you being able to identify suitable candidates for renovation and there being an active local market to sell the property on quickly afterwards.
You might find it worthwhile looking at going into business with a builder partner: you provide him (or maybe her) with extra working capital, to reduce his dependence on bank loans and dodgy private clients who may underpay him and drive him into bankruptcy (a serious occupation hazard for small builders), he provides his expertise as a builder, and you could specialise in the rental side of the business. Of course this means finding a good builder you can get on with and there's mutual advantage in going into business together.
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Sign Up11:54 AM, 1st June 2013, About 12 years ago
hi matt,
having read through your question i feel that you are being a little under ambitious!
If you are interested i could help you find some properties in an area which attract good working families that you could buy for around £100,000 and easily achieve £600 a month in an up and coming area near Leeds.
It is an area we are experts in and their is no charge for the advice if you use us to look after the properties once we have let them.
Just let me know if you are interested.
James
Mark Alexander - Founder of Property118
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Sign Up19:06 PM, 1st June 2013, About 12 years ago
Hi James
Please email me about this service as it would make an interesting article in our buy to let property hotspots section. My email address is mark@property118.com