BTR firm makes ill-advised bid to promote site using Shelter’s mental health data

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A build-to-rent development is trying to sell its properties on the back of research about renting in the traditional PRS causing poor mental health.

A press release from The Keel in Liverpool cites recent research by housing charity Shelter that revealed how one in five people in privately-rented properties suffer from poor mental and physical health.

It claims the build-up of damp and mould are cited as the most common problem, with many landlords ignoring the plights of their tenants.

“Whilst living in poor conditions can affect our physical health, the toll and stress this causes can also cause severe mental health issues,” the promotional material explains helpfully.

Stress toll

“[The Keel] is helping to show how this new sector is building trust between tenants and landlords in a bid to ward off poor mental health due to living conditions and the toll of resulting stress.”

In a shameless plug for its facilities, the release boasts about its dedicated on-site team, regular socials, and communal areas, which help to boost the wellbeing of residents, and it adds: “Having a healthy social life is also crucial to help maintain your mental health.”

It believes the development on the city’s Queen’s Dock is helping to show how important it is to care for tenants, “prioritising their health to make for an all-round better rental experience” – showing just what a caring and compassionate bunch BTR landlords are.

Read more about BTR.

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LATEST: Welsh government offers private landlords £30m to house homeless

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The Welsh government is to pump in more cash to help end homelessness in the country including a new £30 million funding pot for local authorities, housing minister Julie James (pictured, above) has announced.

It will be used primarily to support the Welsh Private Rented Sector Leasing Scheme, which effectively underwrites the risks and costs of persuading private landlords to rent their properties to local authorities in return for a rent guarantee and additional funding to improve the condition of their property.

Local authorities can then use these properties to provide affordable and good quality homes for people who are at risk of or experiencing homelessness.

Tenants will benefit from the security of long-term tenures of between five to 20 years and help to maintain their stay in a long-term home, such as mental health support or debt and money management advice.

£30m initiative

This £30 million initiative is part of the Welsh government’s Homelessness Action Plan, which is a cross-sector and multi-faceted attempt to house homeless people and prevent them losing their homes in the first place.

As part of housing minister Julie James’ promotional efforts for the initiative, she met 42-year-old Jonathan Lewis (pictured, above) from Swansea.

He has overcome huge challenges throughout his childhood, teenage and adult life and has finally been able to find and thrive in a secure home after years spent sofa surfing or sleeping in his car.

James said: “Meeting Jonathan today – who really is an inspiration – just shows the importance to everyone of a decent, affordable and stable home.”

Read more about the millions the Welsh government is spending supporting tenants.

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PRS pandemic impact report

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As 2021 draws to a close, Belvoir’s pandemic report reveals the impact of the Coronavirus pandemic on the UK rental market.

“Earlier this year Belvoir commissioned property expert Kate Faulkner to review data from the Belvoir rental index as well as quarterly surveys of offices during the pandemic and beyond.

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Welsh government to encourage PRS to lease to local authorities to prevent homelessness

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The Welsh Government will announce a new £30million funding pot over five years for local authorities. Under the Private Rented Sector Leasing Scheme, private property owners will be encouraged to lease their properties to local authorities in return for a rent guarantee and additional funding to improve the condition of their property.

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‘Let’s not forget property remains the best performing investment’

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I’ve been in the property investment business for almost 30 years and during this period opportunities have come and gone but I’ve yet to discover an asset class that performs better.

Gold, silver, crypto (gambling in my opinion) and stocks and shares have yet to outperform the results I’ve generated from property, and will continue to do so.

Let me explain: As at Sept 2021 the average house price in Scotland is £180,334¹. In2000 it was £51,587² meaning house prices have grown around 250% in 21 years.

But take the £51,587figure and apply inflation since 2000 (average of 2.8%p.a¹.) then today’s house price should be £88,799. And yet it’s £91,535 more, which is 177% of the original investment over inflation.

Now I have never been one to invest in property at those high prices, but my property values have risen just the same.

You can invest in lower value property and spread your risk as it’s always a numbers game at its core. If you understand the dynamics, it’s like the McDonald’s of property investing. Just keep duplicating it.

What do I mean? If you get the rental charge per month, occupancy rate, loan to value, interest rates and overheads right you’ll always be guaranteed to make money.

Hassle?

Most people say, “I can’t be bothered as I don’t want the hassle.” What hassle? If you have a managing agent looking after it or you’ve invested in a property fund, then you are literally paid to wait.

What do I mean ‘paid to wait’? Most investors like myself offer different levels of service depending on how hands on or hands off you want to be and remember the property is generating income every month in rent while it appreciates, and you can either draw down or reinvest that income.

Let me give you an example. I bought a property (I’ve bought several over the years and another 17 this year so far) in July 1999 for £10,000. It’s a one-bedroom flat and since then I’ve generated a top-line rent of around £80,000 against it to offset against overheads (i.e. interest costs, insurance, repairs, managing agent etc).

At some point before the credit crunch, I got a re-mortgage of £27,695 (a lifetime tracker at base plus 1.15%) which means I have none of my own money in and got cashback (tax free as you don’t get taxed on re-mortgaging property, only selling) from the bank to invest in more property.

This is an infinite return on my investment as I have no money in it anymore and I still earn money every month.

As I said at the beginning… “it’s probably the best performing asset class’ I meant it. As for the value? Well, I’m paid to wait on it going up.

About the author

Jim Parker is a leading Scottish landlord and also runs multi-branch East Coast lettings agency Fife Properties.

Data sources: 1 Bank of England and Scottish Land Registry details 2 Homelet

Jim Parker

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – ‘Let’s not forget property remains the best performing investment’ | LandlordZONE.

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