Could your buy-to-let company share structure be better?

admin    Uncategorized     agents

99% of the 228,743 UK Property Investment Companies in existence at the end of 2020 had sub-optimal share structures.

Is yours one of them?

A sub-optimal share structure in your buy-to-let Limited Company could cost you a fortune in tax.

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Clooper and RentiD are latest renting apps to seek crowdfunding cash – would you use them?

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Two new online landlord platforms have announced a bid for investors to give them a foothold in a market already crowded with start-ups.

Newcomer Clooper has started crowdfunding, while one-year-old RentiD is about to announce a similar offer.

They’ve joined the dozens of similar proptech companies trying to sign landlords up with promises of an easier life online, away from high street lettings agencies.

Last year saw a raft of start-ups including Kiko, Herddle and Hammock all join the market, along with PlanetRent, which automatically monitors rent collection, tracks payments and expenses and provides live analytical reporting.

Many platforms have an uphill battle to get landlords to sign up and so far, only Arthur and Planet Rent – both property management platforms – have made the big breakthrough into the PRS. Arthur was recently bought up by Aareon Group, a social housing tech firm 70%-owned by a German bank of the same name.

Smart notifications

Clooper’s property management platform connects landlords, tenants, trade services and homeowners to facilitate easy transactions and also enables smart notifications and secure payments.

It aims to help with making move-ins quicker, repairs faster, communication and payments easier, and was inspired by his own struggle with paperwork as a landlord, explains founder Toks Adebiyi (pictured).

The start-up won investment from Paul Rothwell of Empire, a large residential landlord, who’s pledged £200,000, and is now after another £200,000 from private investors via Crowdcube.

RentiD out

Meanwhile, RentiD can market properties, manage money, invite tenants to store documents, helps landlords keep on top of their to-do list, and helps tenants resolve simple maintenance issues and report problems.

It promises that it’s more than an online letting agent, as landlords get preferential access to leading legal, financial, property management and lifestyle service providers.

Visit the Clooper Crowdcube page.
Visit the RentiD Seedrs page.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Clooper and RentiD are latest renting apps to seek crowdfunding cash – would you use them? | LandlordZONE.

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Six ways an agent can help landlords during lockdown….

admin    Uncategorized     agents

1. Saving you money!
   We may be in lockdown again, but the good news is that the Government is allowing the property market to continue operating, albeit with lots of new rules for everyone to comply with in order to keep people safe and avoid hefty fines. The situation is often so fast moving that DIY landlords can find the stress of trying to remain legally compliant extremely challenging. Handing over the management of a property to a professional agent could be a very shrewd and sensible move, particularly at this time. A good agent will be able to save landlords time, money, and stress, as well as helping to ensure that everyone concerned remains as safe as possible, and on the right side of the law

2. Limiting exposure
   During lockdown everyone has been advised to keep travel to a minimum and, where possible, to avoid mixing with people from other households. Landlords can minimise contact by arranging for an agent to market their property, and to allow them to arrange for socially distanced physical or virtual viewings. Since the first lockdown in March 2020 many agents have invested heavily in new technology, so that many of the procedures that are necessary to let a property are now able to be done remotely, but also very efficiently.

3. Free market appraisals
   If you are a landlord with a property to rent, make sure that you choose a reputable agent who has intimate local knowledge of properties in their area, and can also offer a broader perspective on the national market. This inside knowledge will help the agent to conduct a free professional market appraisal of your property and consequently ensure that your investment not only achieves the best, and most realistic rents, but also attracts good quality tenants who will be likely to remain in the property for long periods.

4. Trouble shooting
   During lockdown, tenants are inevitably at home for much longer periods than normal. This means that heating systems, white goods and other essential items within the property will be used much more than would otherwise be the case, and this can often result in a rise in the number of maintenance problems that tenants experience. Unfortunately, it is not always easy to find a contractor who is willing to come out to a property during lockdown, and it can potentially also be expensive. A property management agent will already have a list of trusted and reliable contractors that they can call on during an emergency, and who will charge a reasonable fee for any work that they do.

5. Skilled negotiating
   If a tenant is experiencing difficulties in paying their rent, an agent can negotiate with them on behalf of the landlord and communicate any problems that may arise. An agent can negotiate in such a way that they remove the emotion from the conversation and look at all possible solutions. Some landlords are in a position to be able to offer a slightly discounted rent during lockdown, whilst others are willing to carry over arrears until their tenant is in a position to pay, but the agent will always do their best to ensure that rents eventually get paid in full. At the time of writing, Housing Secretary Robert Jenrick has announced that the current ban on bailiff evictions has been extended for six weeks until February 21st 2021. Belvoir is among many agents who are calling on the government to support tenants with loans to help ensure that rents can be paid, and arrears can be avoided.

6. Rental index
   Each quarter Belvoir commissions property expert Kate Faulkner to analyse advertised rents, as well as landlord and tenant trends across the UK. This information is an invaluable free resource for all property professionals as you can find out what types of property are most in demand, what rents are in your region, and what market predictions Belvoir franchisees are making for the following quarter. If any landlords are thinking of extending their portfolio, or reviewing their investments to ensure that they are receiving maximum returns, the Belvoir rental index can make very interesting reading that may help to influence any decisions. To access this information and receive more tips from industry experts simply subscribe via the LandlordZONE website.

SUBSCRIBE HERE

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Six ways an agent can help landlords during lockdown…. | LandlordZONE.

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LATEST: Investors turn to warehouses in record numbers as residential struggles during Covid

admin    Uncategorized     agents

Savvy buy-to-let investors faced with dwindling returns in the residential sector are turning to warehouses as this year’s big business opportunity.

Rightmove has reported a record number of calls about the industrial and warehouse property sector in 2021, with total enquiries on freehold properties up 108% in the first three weeks of January compared to the same period in 2020 and total enquiries on leasehold properties up 38%.

Encouraged by the boom in online retail sales, in December the number of enquiries about warehouses outperformed all other sectors, reports Rightmove; the number of people enquiring about buying a premises was up 56% last month on December 2019, while the number enquiring about a lease was up 43%.

The majority of freehold enquiries were in the South East (+85%), London (+84%) and the East Midlands (+77%).

Alex Solomon, director of Rightmove’s commercial real estate portal (pictured), says there’s been a greater need for warehouses of all sizes to respond to the increased demand from people shopping online, which has led to demand in the industrial and warehousing sector going into overdrive.

He explains: “Agents are reporting an extremely high conversion rate from businesses enquiring for warehouse space, with new leases being agreed quickly.

“While enquiries for retail outlets are still higher than before the pandemic, the rate of conversion is slower, suggesting people are considering a relocation to another outlet or starting up a new business, but until there is more certainty around when non-essential retailers can open again this pace is likely to remain much slower than that of industrial spaces.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Investors turn to warehouses in record numbers as residential struggles during Covid | LandlordZONE.

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Cladding scandal: Why leaseholder landlords still face huge problems

admin    Uncategorized     agents

Thousands of landlords could be stuck with unsellable flats or forced to take a big hit on the sale price if the government goes ahead with plans to impose loans on leaseholders to pay for cladding remediation.

Caught up in the cladding and build safety scandal following the Grenfell Tower disaster, they already face rising insurance premiums and have to prove their building is free of dangerous cladding before they sell.

The government has just announced a £2bn levy on housebuilders to help fund improvements, but it’s feared this won’t be enough to cover all the costs, and it’s still considering – and will very likely adopt – forced loans on the affected leaseholders.

Flat owners would have to take on 30-year loans like second mortgages to fix fire safety defects under the new proposals and campaigners fear they could be left in negative equity while freeholders escape the burden.

The Leasehold Knowledge Partnership (LKP) says the move will further blight the market.

Discounted sale price

A spokesman tells LandlordZONE: “Any putative buyer is going to immediately demand this loan is discounted from the sales price, and very likely a bit more, too.”

Instead the LKP has proposed a levy on housebuilders, cladding manufacturers and a tax on ground rents to establish a fund to remediate these buildings without a pay-out from taxpayers. He adds: “This is being seriously considered.”

MP for Portsmouth South, Stephen Morgan (pictured), had been due to introduce a debate on the subject yesterday in parliament, which was halted due to technical problems, and has vowed to continue fighting for leaseholders’ rights.

He says: “Through no fault of their own, leaseholders find themselves in unsafe homes, unable to sell and liable for huge costs due to cladding. Leaseholders need help. I hope to secure the debate again very soon.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Cladding scandal: Why leaseholder landlords still face huge problems | LandlordZONE.

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How do I collect arrears from Universal Credit?

admin    Uncategorized     agents

Hi all,  I am still waiting for a possession hearing for almost a year due to covid banned evictions etc. My tenants owe me thousands in unpaid rent, and I’ve just found out from Universal Credit that they had been paying them the housing elements since March last year

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Paul’s TV picks: How a difficult eviction left one landlord an ’emotional wreck’

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Paul Shamplina has revealed his latest top pick from his Channel 5 TV show Nightmare Tenants, Slum Landlords to highlight the key issues faced by landlords.

Introduced by the evictions expert and TV star, Shamplina (pictured) introduces the case of landlord Kate Marten and her attempts to regain possession of her two-bedroom apartment in Friern Barnet, North London from two tenants from Eastern Europe.

They had fallen almost £4,000 behind in rent and, citing difficult personal circumstances, were refusing to vacate the property.

Which is why Marten brought in Shamplina to help guide her through the repossession process.

Filmed before the Covid pandemic when both masks and social distancing were not required and evictions quicker – landlords must now give six months’ notice before moving to regain possession – Shamplina reveals the emotion and financial toll wrought on Marten as her costs and arrears mount.

This includes having to borrow money off her sons to pay the mortgage on the property, she reveals while close to tears, while at the same time dealing with a cancer diagnosis.

The programme also documents her anger after a failed attempt to regain possession at a court hearing at Barnet County Court.

“You couldn’t make it up,” says Shamplina. “But her case does reveal why landlords have to stock to the rules otherwise evicting tenants can be both difficult and costly.”

Watch the video

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Paul’s TV picks: How a difficult eviction left one landlord an ’emotional wreck’ | LandlordZONE.

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Stop cynical life-threatening licensing money-grab during pandemic crisis

admin    Uncategorized     agents

Momentum is building against councils pushing ahead with licensing schemes despite the pandemic and despite instructions from the government not to.

One wonders why so many councils are going against the Governments wishes and public health concern to instigate policies which

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Complaints about cannabis smells?

admin    Uncategorized     agents

I have a long term tenant in a block of 8 Victorian flats. The parking and garden arrangements mean the residents can easily see into the ground floor flats as they pass.

My letting agent has had 5 complaints over the last 3 months.

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