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.
Neil Patterson
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Sign Up13:24 PM, 3rd January 2015, About 10 years ago
Hi, I know lots of readers that do let to students very successfully and they tend to specialise in this market as the yields can be very good.
There are obviously risks, but these can be mitigated through hard work on your research, due diligence and vetting of tenants. I know one reader that only lets to girls.
A good place to start is to contact the local University and see what requirements you have to meet to be placed on their recommended list.
If this investment is to be more of a passive hobby I would reconsider and go for a standard single person or family let type of property.
Paul Shears
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Sign Up18:12 PM, 3rd January 2015, About 10 years ago
This is not my area but I do observe this market from close quarters. My understanding from a number of agents is that the downside is that there is certain to be much more work every single year. One agent who handles a lot of these types of properties, told me that they will wreck the washing machine every year. This can be managed of course by underwriting the risk but it's not something that affects most landlords to this degree (No pun intended).
If you want maximum returns for more work then it offers benefits.
You will have to be stoic about the stupid problems that you will certainly encounter and the frequency with which they occur but you are very likely to make more money all other things being equal.
Personally I wouldn't fancy the challenge of finding reliable tradesmen more often than I do in a less risky part of the market.
Making a high capital gain at the same time is very unlikely.
To sell you may need to factor in a major overhaul unless it goes to a landlord in a similar line of business.
Generally speaking you can't have it both ways. More work can mean more profit.
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Sign Up21:05 PM, 3rd January 2015, About 10 years ago
Reply to the comment left by "Neil Patterson" at "03/01/2015 - 13:24":
Thanks Neil,
I will contact the school and look into this further as this is something i definitely want to get into!
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Sign Up21:09 PM, 3rd January 2015, About 10 years ago
Reply to the comment left by "Paul Shears" at "03/01/2015 - 18:12":
Thanks Paul,
I really want to shift into the property market, so if the hard work is required to make more money, i am up for it. Now i am thinking, i need to get a property that is really close to me, so i can monitor it. also vetting is a very good idea, renting the somewhat mature students.
Still trying to wrap my head around breaking the washing machine every year, what could they possible be doing to it??
Thanks Again!
Paul Shears
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Sign Up23:48 PM, 3rd January 2015, About 10 years ago
Reply to the comment left by "MyMini Crib" at "03/01/2015 - 21:09":
Hi MMC
Well you have two main problems here.
Firstly there are the immature clowns who just don't care and secondly there are the more genuine types who just don't realise what they are doing.
You just have to accept this to a large extent.
It may be that some component escapes damage in your proposed investment but if you are the sort of person who can't suffer fools gladly (Like me) then I would suggest lowering your financial aspirations. Alternatively a much stronger & younger person than myself can mentally distance them selves from the idiot student fresh out of their parents home who thinks it is fun to kick a football up against the lounge window from the inside. I haven't had this but I know of a man who has. This would be quite a trivial matter even if they smashed the window but there is simply no cure for "Dumb" and the type of experience will repeat inevitably.
If you can, try to talk to the sort of person that many landlords use to share the burden of running a property. I'm talking about a maintenance chap or a cleaner who goes in at the end of the year to clear up your trashed rental property prior to trying to persuade the next lot of students to rent it. Or the chap that needs a large open back lorry to clear out the trash including 350 empty bottles of beer & wine before the cleaners can start. It can be pretty shocking stuff and you will have to accept it but, proving you get all your ducks in a row, this will still produce a higher return that I get. I make 5.6% gross plus capital growth but I'm at the opposite end of the market from a student let. There are houses structurally identical to mine nearby that only the bottom end of the market would want to spend a night in that make more money than I do.
Further to the above you have the increased risk of getting a "Really bad tenant" experience that can hit you for £10K upwards so very easily.
My own view is that you have to know yourself and make the business reflect what you want most of all.
If it's maximum money then this will come with more pain.
Barry Fitzpatrick
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Sign Up12:55 PM, 5th January 2015, About 10 years ago
I own a small number of student lets, and I use a local letting agents to manage them on a day-to-day basis. I do this because:
a. they are used to handling students and the problems that arise
b. the have close contacts wit the local Uni's & colleges
c. have a High St presence for marketing purposes (properties are marketed from December for the following academic year).
The turnover of Tenants is high typically annually so you have to factor in professional carpet cleaning, professional oven/hob cleaning, and general house clean at the end of each tenancy (plus where appropriate a gardener). (all charged on to the students - make sure their Deposits will cover this at least).
Also some Local Authorities require student lets to be licensed and if not already a student let for planning permission to be granted.
Only a few lenders will give mortgages on Students lets, and then more often than not is ha to be on a Joint Tenancy (so there is no advantage to the "always occupied" comment).
You need to factor in that you'll probably only let the property for 11 months (possibly 11½ months) per year i.e. you'll have a 1 month void every year. The market for student lets is very peaky - buy at the wrong time and you could be left with a very long void period.
I've found that keeping the property in a good condition results in the property being looked after by the students (if its dirty/scratched/scruffy then a bit more dirt/scratches/etc don't matter attitude sets in), but avoid all male tenants as well. I only let to 2nd/3rd year students as the novelty of living away from home for the first time is behind them, and they are a little more worldly wise.
As the properties are let furnished I chose solidly built furniture rather than the cheapest; not does it last that bit longer it tends to looks better for longer as well. Lay polypropylene carpet as they are more stain resistant and easier to clean. This all adds to the impression of a quality condition of the property.
Mike W
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Sign Up13:27 PM, 5th January 2015, About 10 years ago
Hi MMC,
I don't think your title question has been answered. You have received some very good experience advice. But as someone who has rented to professionals and students, I would never learn about the rental market by renting to students with my first buy to let. You hear about high GROSS returns from students but don't hear about the high costs and hastle which results in NET average returns. If you want a NET average return with an opportunity to learn about the market and how to manage your property well stick to professionals.
With respect, some of your comments highlight a degree of naivety. Letting by the room is possible but check with your lender (if you have one). That also means you don't just have one agreement to manage. And of course students have no money, something you find out very quickly. Guarantor agreements? Students also drop out of uni too and go home. If not a student then Council tax comes into play... The stupidity of young people is amazing as others have already commented. And of course as far as parents are concerned little Jane or little Johnny can do no wrong. You will be a bad greedy landlord. As for using the lounge as a bedroom... Interesting but does it get you more money? Or are students intelligent enough to see what they are getting? Once they can compare - realise their friends have got better places with a lounge to watch telly and have a party - then they are off : high turn over.
The successful student landlord can manage this but it is hard work. One thing I have learnt is that character judgement is very difficult. Up market kids can be worse than those from the poorest areas, and a girl's parents can be very blind.
If you go into it be prepared.
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Sign Up17:47 PM, 5th January 2015, About 10 years ago
Reply to the comment left by "Paul Shears" at "03/01/2015 - 23:48":
Good advise paul!
I think you have given me both extremes. Students can be very silly. I will just have to effectively screen my tenants and maybe even get their parents to sign on the rent as well!
Thanks again
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Sign Up17:51 PM, 5th January 2015, About 10 years ago
Reply to the comment left by "Barry Fitzpatrick" at "05/01/2015 - 12:55":
Wow, thanks Barry!
a lot to learn. I will put your advise on my tick sheet 🙂
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Sign Up17:55 PM, 5th January 2015, About 10 years ago
Reply to the comment left by "Mike W" at "05/01/2015 - 13:27":
Thanks Mike,
I am very new to this, this is why i am seeking advice from people like you 🙂
Thanks again