LATEST: Vanished guest house investment couple re-emerge in Oz

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A property investment guru couple who disappeared leaving disappointed participants in their investment schemes puzzled as to their whereabouts have popped up as ‘spiritual’ leaders in Australia.

Marta and Lloyd Smith – now known as Riya Loveguard and Aeron Lazar – ran Home Whisperers, a project management and home improvement firm, as well as offering property education.

They were a golden couple who were regulars at networking events and also successfully encouraged investors to part with cash for their business ventures.

Bodacious!, their chain of boutique guest house hotels including the White House hotel in Swansea, was shut down earlier this year.

Facebook

In a new video just posted on Facebook the couple (main picture) have set out to explain what happened. Says Marta: “We had a big social media following then we decided to play a game of monopoly – we got a hotel – it didn’t end up well.

“We invested £150,000 into a business venture and we had three or four hotels…until the end of last year we were on expensive short-term finance. We were hit by Covid 19 and ordered to stop trading.”

Walk away

In a separate Facebook post, she explains that she’s also closed down her online women’s investment group. She tells viewers: “We’ve learnt you have a right to walk away.”

Lloyd enthuses that he’s now, “reconnected with my higher self and began working with light beings called the Arcturians”.

His website encourages people to activate galactic frequency codes to “unlock your divine potential and step into the life of your dreams!”

Andrew Burgess, of Property Education Truth Seekers (pictured), says on his latest YouTube video: “Lots of people trusted these two who have now gone on to see aliens.”

Burgess urges investors to think twice before investing in projects touted by unproven gurus like this couple. “Don’t invest, steer clear, keep away from these self-proclaimed internet celebrities,” he says.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Vanished guest house investment couple re-emerge in Oz | LandlordZONE.

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YOUR forums questions answered: ‘Re-signing a tenancy agreement early’

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The hugely popular LandlordZONE forums are where landlords share their experiences, exchange tips and ask for advice. We answer a recent question and turn to the experts at Hamilton Fraser to give their best answer!

Question: My current tenancy agreement has a break clause which allows the tenancy to be ended after four months by giving two months’ notice. Can we both agree to sign a new contract which puts further into the future the earliest available opportunity to enact the break clause?

Answer by Mike Morgan (pictured, below), Legal Division Manager at Hamilton Fraser and Head of HF Assist.

“Both the landlord and the tenant in this instance would appreciate the greater security of tenure which could be offered by a tenancy agreement which sets out a longer period before a break clause can be enacted.

While it is perfectly in order to sign a new tenancy agreement to replace the existing one (which is effectively surrendered once a new agreement is signed), it is important to think through the consequences of this approach.

Specifically, who does the new agreement benefit? Although another break clause will benefit the tenant, it undermines the certainty of another fixed term. It may therefore be better to run with a fixed term without a break clause, and negotiate an early surrender should the need arise.”

Find out more about tenancy agreements, including the implications of ending a tenancy agreement early, in Hamilton Fraser’s article How to create a legal and binding tenancy agreement. Landlord Action can help with drafting AST agreements and other legal documents.

Join LandlordZONE’s forum here.

Hamilton Fraser supports landlords, letting agents and tenants by offering a range of solutions and thought leadership to help them navigate the private rented sector. Most recognised in the private rented sector for providing award winning landlord insurance, the Hamilton Fraser family includes Total Landlord Insurance, mydeposits, the Property Redress Scheme, Client Money Protect, Landlord Action, Ome, HF Assist and Total Landlord Mortgages.

Did you know? 

“HF Assist premium subscribers can download a free tenancy agreement template, up to date with the latest legislative requirements. Find out more at www.hfassist.co.uk”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – YOUR forums questions answered: ‘Re-signing a tenancy agreement early’ | LandlordZONE.

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Hoarding: ‘One of the worst cases ever faced by a landlord’, says evictions expert

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One of the most extreme cases of hoarding ever encountered by a landlord is due to be shown on Channel 5 tonight when the latest episode of Extreme Nightmare Tenants airs at 10pm,

The hour-long show highlights several unusual cases of errant tenants including a letting agent who uncovers a cannabis farm and a raid by Harrow housing officers on a former pub turned HMO that uncovers deadly weapons.

Arguably the most shocking case concerns Leslie-Anne Franklyn, a former social worker living in Cambridgeshire who bought her neighbour’s house several years ago as an investment with a rent protected tenant in-situ.

The female tenant, who had terminal cancer, refused anyone entry to inspect the property and despite legal efforts, it was only after she died that the shocking reality of her living conditions became apparent.

Vacant possession

During the TV show Paul Shamplina is shown donning a protection suit (pictured) and mask to inspect the property and gain vacant possession, which  he says was the worst he’d seen in his 35-year career.

“The terrible thing is that the tenant had told the local council that Leslie-Anne was a ‘rogue landlord’ because the property had some minor defects, and yet she wouldn’t allow anyone to enter the house to fix them,” says Shamplina.

“When we finally entered, it was clear that tragically this woman had been living on her sofa and that, due to her extreme hoarding, the rest of the house including the toilets could not be reached – the rubbish was up to my waist.

“I will leave it to your imagination to wonder what it was like in there, but suffice it to say there were a lot of used bin liners lying around.”

Extreme hoarding

Extreme hoarding of the type featured on this programme is recognised by the NHS as a disorder. The tenant featured will have, likely other sufferers, been triggered by many of the commons reason for the disorder including not having a partner, enduring a deprived childhood and severe mental health issues.

“Many people who hoard have strongly held beliefs related to acquiring and discarding things, such as: “I may need this someday” or “If I buy this, it will make me happy”. Others may be struggling to cope with a stressful life event, such as the death of a loved one,” the NHS advice page says.

Watch the programme live or on catch-up.
Find out more about vacant possession.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Hoarding: ‘One of the worst cases ever faced by a landlord’, says evictions expert | LandlordZONE.

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Spain has abandoned any pretence of respecting private property rights

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Recently I have been getting to know some landlords in Spain. I think it’s good for us to network with others – to support each other if nothing else.

The Spanish landlords have been explaining to me quite how bad it is for them now.

The post Spain has abandoned any pretence of respecting private property rights appeared first on Property118.

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BREAKING: Government to beef up carbon monoxide alarm rules for rented properties

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The Government is set to strengthen fire safety rules for landlords that would cover a wider range of appliances and would also mean more frequent checks and maintenance.

It’s proposing to amend the Smoke and Carbon Monoxide Alarm regulations so that landlords have to install a carbon monoxide alarm in any room used as living accommodation where tenants have a fixed combustion appliance apart from gas cookers, such as water and space heaters.

Currently, a carbon monoxide alarm is only needed in any room used as living accommodation, burning solid fuel.

While similar to the current regulations – where landlords carry out checks to make sure that each alarm is in proper working order on the first day of every new tenancy – under the new rules, they would also be responsible for repairing and replacing alarms if these are reported as faulty during the tenancy.

The proposals cover England and landlords have until 11th January to comment on the consultation.

The Government says: “We propose that the guidance published alongside the regulations says that if, on testing their alarm, tenants find that their alarm is not in working order, they should first consider testing or replacing the battery.

Not working

“If the alarm is mains-operated or is still not working after the battery is replaced, residents should contact the landlord to arrange for the repair or replacement of the alarm.”

It reports that from 2018 to 2019, households renting from housing associations and local authorities were most likely to have at least one working smoke alarm (95%), while fewer owner-occupiers (90%) and private renters (88%) had them.

But since the introduction of the regulations in 2015, coverage of working smoke alarms in the private rented sector has increased from 83%.

Read the consultation and get involved.
Read more advice on carbon monoxide compliance.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – BREAKING: Government to beef up carbon monoxide alarm rules for rented properties | LandlordZONE.

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The BRRRR Method

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The BRRRR Method to successful property portfolio building is much talked about.

BRRRR stands for Buy, Refurbish, Rent, Refinance & Repeat.

The BRRRR strategy is how most successful property investors have built sizable portfolios.

In this video I break down the BRRRR property investing method and how to successfully apply it in 2021.

The post The BRRRR Method appeared first on Property118.

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Disputed eviction gets personal outside landlords’ own home

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Campaigners have door-stepped a landlord couple’s home in a bid to prevent them evicting a family with a disabled child.

Tenants’ union Living Rent confronted the pair in Balloch, Scotland, as part of a day of action in defence of the family whose son has complex needs.

They claim the landlords and letting agency Martin&Co are preparing to evict the family on 30^th November from a property in Bathgate, West Lothian.

An eviction order was granted in September at the First Tier Housing Tribunal, despite the national ban on evictions until next March.

Council officials withdrew funding to work on adjustments on Lorraine Robinson-Moseley’s property, leaving them with nowhere suitable for her severely autistic son.

She told the Dunbarton Reporter: “With my son’s conditions, it has taken us so long to find a suitable home and feel accepted.

“All we are asking for is a delay to the eviction to ensure my son’s new home will be ready for him. Eviction will cause him extreme emotional distress.”

Living Rent presented letters to the landlords and letting agency, demanding they reverse their decision to evict the family.

Jack Hanington, Living Rent member, says: “Until the landlords agree to delay the eviction until the end of January, Lorraine’s tenants’ union will resist this eviction, firstly at the landlord’s doorstep and then, if necessary, at the doorstep of Lorraine and her family’s home.”

LandlordZONE has contacted Martin&Co for comment.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Disputed eviction gets personal outside landlords’ own home | LandlordZONE.

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Landlords to face penalties if they earn kick-backs from referring utilities to tenants

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Landlords will soon have to be transparent about referral fees when they recommend services such as utilities to tenants, a senior Trading Standards chief has warned.

James Munro made the comment yesterday during a Propertymark webinar after being asked whether landlords are covered by his organisation’s proposed new approach to referral fees within the property industry.

Munro heads up the National Trading Standards Estate and Letting Agency Team which despite its name covers anyone letting out properties including landlords, and wants to clamp down on referral fees harder.

Although existing Consumer Protection Regulations (CPRs) already cover referral fees Munro says they are too vague and he has recommended to Ministers that more specific regulations are introduced.

Capacity as a landlord

“The CPRs apply to all businesses not just sales and lettings agents; there is case law to suggest that when private landlords are acting in the capacity of a landlord they are not private individuals [but instead] are a business, and therefore the CPRs apply to them,” he says.

“This would include when they recommend a service, but it’s a complicated scenario so we will provide clarification at a later date.”

Sean Hooker (pictured), Head of Redress at the PRS, says: “Landlords are increasingly being held to the same standards as agents.

“They must abide by the same laws and act as professionally as any business.

“We are moving towards a more regulated environment in England, with landlord redress, registration and regulation around the corner. “Landlords should therefore be abiding by this guidance, especially if they are company landlords and acting in a commercial capacity.

“Smaller landlords may well want to use a good and compliant agent who can protect their interests.”

Read more about trading standards.

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Belvoir lettings Index, latest news for Q3 2020

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The latest information on rents and from the Belvoir rental experts, shows that the market post the first pandemic lockdown, continues to perform very differently across the UK.

However, the main ‘takeaway’ is how well properties continue to rent in most places, whatever happens to the economy, even when it comes to a ‘full stop’ as it already has twice this year.

The best bit of news so far this year for landlords and the rental market is that home moving has been allowed to continue, despite a second lockdown. This allows new rental properties to be let and if tenants want to leave existing homes, they can re-let. Of course, the bad news is that if a tenant doesn’t pay their rent or causes issues, it’s very difficult to currently evict them.

Latest essential ‘takeaways’ for landlords
There are five key things to know from this quarter’s rental index: –

1. Nationally rents have hardly changed
   The index shows that, on average, rents for the UK in Q3 2020 were £747 per month, which showed a very slight fall versus 2019’s Q3 average of just -1%, which considering the economic ‘destruction’ over the last few quarters shows how robust the rental market is, even when the economy isn’t.
2. At a local level, some rents are up, some down!
   Whether it’s Brighton and Hove where Nathan Crombie reported “increased rents and demand for houses and flats during Q3 2020 and anticipates rents to continue rising over the next quarter, with demand decreasing.” Or in Edinburgh where Lisa Conquer explains “rents remained unchanged across the board, whilst tenant demand increased for all properties due to previously following a stricter lockdown.” Although most rents are static to rising, each area and property type can be showing different trends, so it’s vital to get expert opinion on what’s happening to rents from local experts such as Belvoir if you are thinking of investing into buy to let, selling your existing rentals or re-letting to a new tenant.
3. Houses are, in the main performing better than flats
   According to the individual experts from Belvoir, around 40% of offices saw flat rents unchanged or falling, while 60% increased, still mostly good news! In contrast a staggering 83% of offices saw house rents rise, with hardly any falling and the rest remained unchanged.
4. Arrears are on the up
   To be expected due to the current circumstances, but rare when letting through Belvoir, 70% of offices normally report less than three tenants in arrears per office, whereas in Q3 this fell to just over 30%. And although this was a trend that started pre-Covid, around 50% of offices are now seeing rent arrears from 4-10 tenants. It isn’t yet time to worry as this still equates to less than 3% of tenants.
5. Number of properties available for let, in the main is tightening
   Although some landlords are still buying new properties to let, around 44% of offices saw no additional properties bought by their landlords, while just over 80% of offices saw anything up to 5 properties being sold. For those landlords staying in the property market, tenants are currently tending to stay in properties for longer, this will restrict the number of properties coming onto the market in many areas.

Regional, local town and city level… what’s happening?
The Belvoir Index is a little different to other rental indices in that we don’t just rely on ‘stats’ from a spreadsheet, we survey a range of individual Belvoir experts so we know exactly what’s happening to rents at a local level now and what’s expected to happen in the future.

It’s this level of detailed knowledge ‘on the ground’ that’s vital for investors and landlords to know what’s really happening to existing rents and newly let properties, rather than relying on national or regional data which can be heavily skewed, or indeed out of date.

Here’s a snapshot of some of this quarters expert commentary:-

South West

Bournemouth

Marcin Owczarek of the Bournemouth office reported increased rents and demand across the board for Q3 2020 and expects this trend to continue into Q4 2020. The office has a shortage of all properties.

For more detailed reports from offices in the South West, including: Devizes, Christchurch and Gloucester, please read the full report.

South East

Watford

For Q3 2020, William Venter confirmed decreasing rents and demand across the board. Looking forward to Q4 2020, both rents and demand for all properties are expected to remain unchanged. The Watford office is currently short of two bed flats, but has an excess of smaller flats and three, four and five bed houses.

For more detailed reports from offices in the South East, including: Tadley, Harlow, Tunbridge Wells, Thanet and Brighton and Hove, please read the full report.

East Midlands

Nottingham

According to Lloyd Rumbold both house and flat rents increased over the course of Q3 2020, with demand remaining static for all properties. Over the next quarter, rents across the board are likely to increase with demand increasing for houses but remaining unchanged for flats and room rents. Nottingham has a shortage of studio flats through to three bed houses.

For more detailed reports from offices in the East Midlands, including: Melton Mowbray, Newark, Bedford and Milton Keynes, please refer to the full report.

West Midlands

Rugby

For Q3 2020, Rosie Callaway confirmed static rents and demand across the board but expects rents to decline over the next quarter with demand remaining unchanged. Rugby has a shortage of three bed houses and an excess of one/two bed flats.

For more detailed reports from offices in the West Midlands, including: Leamington Spa, Stoke on Trent, Shrewsbury, Stafford and Stone, Telford, Evesham and Stratford upon Avon, please read the full report.

Wales

Swansea

According to Ben Davies, all rents and demand increased during Q3 2020, however, rental levels are expected to remain unchanged for Q4 2020 with demand decreasing. Swansea has a shortage of one bed flats and an oversupply of two bed flats.

Northern Ireland

Newtownards

For Q3 2020, Trevor Burns has confirmed increased rents and demand for all properties with this trend likely to follow into the next quarter due to a lack of supply and continued high tenant demand. The Newtownards office is experiencing a shortage of all types and sizes of property.

North West

Burnley

According to Michael Green of the Burnley office, rents for flats and houses increased across the board due to a shortage of all property stock during Q3 2020, with demand also increasing for all properties. Looking to the next quarter, it is predicted that rents are likely to remain unchanged but demand increasing for all properties.

Yorkshire & Humber

Doncaster

According to Chris Duffy, during Q3 2020, rents increased for flats and houses. Tenant demand also increased for all properties. Rents are expected to continue rising over the next quarter due to the high demand/shortage of stock, however, demand is likely to remain stable. Doncaster has a shortage of all types of property.

For a detailed report from the Skipton office, please read the full report.

North East

Newcastle upon Tyne

Howard King reported that rents for city centre flats increased but not for flats in the suburbs, whereas all house rents increased across all areas during Q3 2020. Tenant demand remained unchanged for flats, increased for houses and fell for HMOs. Over the coming quarter, rents for both flats and houses are expected to remain unchanged with room rents decreasing. However, tenant demand is likely to increase for all properties with the exception of room rents which are likely to decline. There is a shortage of studio flats through to three bed houses.

For a detailed report from the Tynedale office, please refer to the full report.

Scotland

Falkirk

For Q3 2020, Gillian Inglis has confirmed increased rents and demand for all properties but expects rents to remain unchanged over the coming quarter, with demand increasing. The office is experiencing a shortage of one, two and three bed properties.

For more detailed reports from other offices in Scotland, including: Edinburgh and Dundee, please read the full report.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Belvoir lettings Index, latest news for Q3 2020 | LandlordZONE.

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Landlords must ‘go green’ as government reveals gas boiler ban for rented properties

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The Government is to phase out gas by 2035 as part of its green ten-point plan announced this week, meaning millions of boilers across the private rented sector are on borrowed time.

CEO of the Chartered Institute of Plumbing and Heating Engineering (CIPHE), Kevin Wellman, understands landlords’ concerns that a move to green technology and more energy-efficient homes will incur additional costs and disrupt tenants.

But he says those landlords looking to make the change now should use the Green Homes Grant to help enhance the energy efficiency of their existing housing stock.

“Reducing energy waste is just as important as moving over to clean energy and will result in reduced heating bills and more comfortable homes,” Wellman tells LandlordZONE. 

Under the new plan, gas boilers will also be banned in all newly built homes within three years to help Britain reach its target of net zero emissions by 2050.

The ‘future homes standard’ will require all new homes to have low-carbon alternatives, such as electric heat pumps.

But in a consultation document, the Ministry of Housing has noted that, “there may not be the necessary supply chains, trained installers and product availability needed for every home-builder”.

A report by the Committee on Climate Change has also previously highlighted issues around a lack of qualified heat pump installers. 

The CIPHE is more confident that the UK can make the change. Adds Wellman (pictured): “The infrastructure is not in place for wholesale adoption of low carbon heating – we need approximately 100,000 engineers trained to install the new technology – but a rapid pace of technological change is something those in the heating industry are used to.” 

Read more advice on boilers.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlords must ‘go green’ as government reveals gas boiler ban for rented properties | LandlordZONE.

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