HMOs: Time for the sector to promote its superstars and face down critics

admin    Uncategorized     agents

Many landlords grumble that HMOs get an unfairly hard time from housing campaigners, councils and local press not to mention via social media. But now the sector has a chance to fight back.

The HMO Awards, whose organisers have just published the inaugural list of nominations, aims to present a different view of HMOs by handing out awards to the best operators.

These will now be judged by a panel of experts and well-known figures including Landlord Action founder and TV star Paul Shamplina (pictured), NRLA Chief Executive Ben Beadle and YouTube influencer and landlord Ranjan Bhattacharya.

But its organiser, property management platform COHO, is asking LandlordZONE readers to help out by promoting this initiative either by old-fashioned word of mouth or via social media.

About time

“It’s about time that the HMO specialist sector, which is often forgotten or labelled too niche, pulls together and that those working hard to make great examples are recognised for their dedication to help shape the future landscape for shared living,” says COHO co-founder Helen Turner (pictured)

Hundreds of organisations and individuals have been nominated across 18 different categories from across the country.

Nominees

Those nominated included of HMO investors who have done something amazing with a commercial to HMO conversion or investors who specialise in social housing HMOs, as well as shared living operators, HMO management specialists and service suppliers.

Once the winners have been chosen, an awards ceremony is being held on September 30^th at Stowe House in Buckinghamshire, preceded by a networking event.

You can check out all the nominations here. Apply to buy discounted tickets to the event here.

Vann Vogstad, Founder & CEO of COHO says: “The HMO Awards aim to bring people across the HMO property supply chain who are helping to shape the current and future shared living landscape across the UK together to network, learn, celebrate, and grow”.

View Full Article: HMOs: Time for the sector to promote its superstars and face down critics

Do landlords deserve to lose their Buy to Lets?

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Four weeks since the ousted Gove released his White Paper for a “fairer private rented sector,” Landlords are taking stock of how best to deal with the upcoming changes they now need to make to their buy-to-let portfolios in a bid to meet the criteria of a “levelled up” housing standard for tenants. It’s come at a difficult time: many of us are mid-incorporation, many of us are facing huge tax bills, many of us knew we’d have to refurb our portfolios but simply can’t take the financial hit of doing it all at once with such little time. Then there’s the very real threat of recession just around the corner.

It’s understandable to see why so many landlords have been left frustrated, angry or worried by the mammoth task ahead and, for a huge proportion of us, it seems the clock has well and truly ended on our portfolios being profitable enough to weather the storm. But what’s the solution? Have landlords been riding off a gravy train of profits for too long at the expense of tenants? Do we deserve to lose our portfolios as we struggle to meet the mounting costs of clinging on? The answer is surely no, but the obvious solution for a vast majority is that it’s time to get out of the landlord business, and if we’re going to get out, we want to pick a moment where we can cash in for the highest possible prices. That time is now. It’s time to “box clever” and sell up before the recession and cost of living hits our prices and sales.

As the CEO of Landlord Sales Agency, I should know. In 2021 I predicted exactly this, and came up with the best solution to help landlords when the moment was required. I created a power team of experts who would be ready to help landlords sell up for the highest possible prices, fast, and like many other savvy landlords right now, I’ve done it for my own portfolio. You cannot escape the fact that now is the highest release of equity you’ll get for another 7 years. Whether you decide to sell part or all of your portfolio, you need to act now and start selling while the window of opportunity to get out is still open and there’s no better company to help you than ours. If you’re clever, you can still win, and we’re here to make sure you win for the highest amount possible.

Unlike other companies, we’ll solve every single one of your problems to ensure you get the smoothest possible sale:

• We have a list of buyers who will buy your properties without having to evict tenants. This dramatically cuts down the time it takes to sell, plus means that you can continue collecting rent all the way up until the actual sale. For those properties that require evictions, we personally help your tenants relocate, or help them financially to find a new place.

• No matter how many houses you have, or in what condition, we’ll take them all off your hands, and get you the highest price for your portfolios in less than 21 days. We sell entire property portfolios, or partial portfolios in bulk in one go.

• We’ve got an extensive list of over 30,000 private buyers and relationships with the top property buying companies. Most of our portfolios sell within a week which is exactly what landlords need right now. We simply don’t have time to waste.

Landlord Sales Agency sell properties either in one go as a full portfolio or as single units, depending on your instruction. Unlike traditional estate agents, or other property buying companies, both methods are extremely fast. We work quickly to collect information about rent, tenant history, running costs and ensure all certificates are in place to guarantee the sale is not delayed. If any certificates are missing, we have a team of engineers, builders and experts who will get all the certificates and paperwork done for you. The stress is completely removed out of the sale, and seller involvement is kept to a minimum so you can relax knowing it’s in swift and extremely capable hands.

Furthermore, at Landlord Sales Agency we take our promise to ‘solve any landlord problem’ so seriously that, as a result of the number of enquiries we’ve received from landlords with cash flow problems, we can also use the equity tied into property to offer an interest free loan of up to £20,000 to be repaid on completion.

We know what it’s like right now to be a landlord who is thinking of selling, and who wants to release cash. We’re so confident in what we do, we can afford to go the extra mile to really help landlords get through, and get the highest possible price for their property portfolio before the market drops. We’ll also ensure we never compromise on the sale price no matter how much work your portfolio needs. We typically achieve 80 – 90% of the market value, and for that we cover all the costs and take away all the hassle that comes with selling the portfolio. We’re completely transparent, so you know exactly what we’re making. You won’t get a higher price for the service, and any company promising you 100% market value is hiding a huge list of costs that are going to come after the sale. That’s not the case with us. It’s what makes us different.

We’re here to help, and we understand that now is the window for landlords to get out. It’s a crucial time, but we’ve been preparing for exactly this, and we’re here to get the job done.

If you want to exit the market before the predicted fall in property prices, talk to us today.

Contact Landlord Sales Agency:

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View Full Article: Do landlords deserve to lose their Buy to Lets?

House prices feeling the heat – Emergency Recession Webinar

admin    Uncategorized     agents

Yesterday the UK saw record high temperatures, but it’s not just the weather settings records.

• House prices rose 14% in the year to June. The highest rate since 2004.
• House prices rose month-to-month 1.8% in June.

View Full Article: House prices feeling the heat – Emergency Recession Webinar

OPINION: Why do landlords get the blame for rejecting tenants on Universal Credit?

admin    Uncategorized     agents

An official briefing document for MPs has underlined the contradictory position the government has manoeuvred itself into over landlords and letting agents who advertise properties as ‘No DSS’.

The House of Commons Library document makes for interesting reading because, based on the facts, it lays the problem directly at the feet of the current government’s policies.

It is called ‘Can private landlords refuse to let to Housing Benefit claimants?’ and is intended to inform MPs involved in the upcoming debates that will create the Renters Reform Bill.

As proposed, it “will make it illegal for landlords or agents to have blanket bans on renting to families with children or those in receipt of benefits”.

This initiative has largely been created by Shelter’s energetic lobbying, as well as its sponsorship of a landmark case in 2020 at York County Court during which a judge considered the case of a disabled single parent whose application for private rented housing was refused by a letting agent because she received Housing Benefit.

The judge agreed it was discriminatory, although the decision did not change the law.

Reluctant

But the briefing explains concisely why some landlords are reluctant to take on DSS claimants.

This includes the well-documented problems landlords face when interacting with the processing system that underpins Universal Credit housing payments, and the fact that payments go direct to tenants rather than landlords following the 2008 introduction of the Local Housing Allowance (LHA).

Other more recent factors include the freezing of the LHA from 2016 onwards until the onset of Covid, which has meant many ‘DSS’ tenants experience a significant shortfall between their benefit payments and the rent they pay.

Landlords also face restrictions on renting to these tenants from mortgage lenders and insurers and, as the document outlines, the recent mortgage interest tax relief reductions which have led many landlords to focus on less ‘risky’ tenants.

Read more: the ultimate guide to tenant referencing.

But in a move which is increasingly typical of some policy, blaming landlords for the situation is as the document lays bare largely of the Government’s own doing.

Nigel Lewis is Editor of LandlordZONE

View Full Article: OPINION: Why do landlords get the blame for rejecting tenants on Universal Credit?

Holiday lets – the dream solution?

admin    Uncategorized     agents

With the Renters’ Reform white paper making residential buy-to-lets less attractive, is it time to look at snapping up a country cottage holiday let? It may be, but be careful, warns Richard Reed.

We’ve all probably dreamed of owning a cosy country cottage in an idyllic part of the country

View Full Article: Holiday lets – the dream solution?

Exempt accommodation providers – who are their agents?

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Has anyone released their property to or entered into short-term lease arrangements with a managing agent who then goes on to organise the accommodation and support services for Exempt providers in the Birmingham area?

Are you an Agent that provides properties for this purpose?

View Full Article: Exempt accommodation providers – who are their agents?

Claims history declaration on rent guarantee insurance?

admin    Uncategorized     agents

Hi, Could I please ask for a specialist opinion? I have had a claim made on my Rent Guarantee Insurance. When I am now quoting for my Landlord Insurance (building only) I am asked about claims in the last 5 years.

View Full Article: Claims history declaration on rent guarantee insurance?

Labour’s shadow housing secretary promises to wage war on holiday let landlords

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Labour has vowed to introduce licensing for holiday lets to preserve the spirit of coastal and rural communities.

Shadow levelling up secretary Lisa Nandy says this would allow areas to “to reap the rewards of thriving tourism”, while guarding against ghost towns at the end of the holiday season when locals are priced out of their own neighbourhoods just for homes to stand empty for months.

“By trusting the community, working with the community, we can find the right balance to bring growth and jobs and income, but protect the spirit and the fabric of a community that matter so much,” she says.

Community approach

In her speech, Nandy also set out plans for a strengthened community right-to-buy initiative to enable local people to take control of assets such as live music venues and football clubs that come up for sale or fall into disrepair. They would be given first refusal on assets of community value, including the right to buy them without competition.

Communities would also have the right to force a sale of land or buildings that have fallen into a state of significant disrepair and would get 12 months to raise finance – double the current allowance.

Short lets

Last month, the government announced a new study to investigate how short-term holiday lets impact housing supply across cities and coastal resorts in England. Proposals include checks on premises to ensure rules on health and safety, noise and anti-social behaviour are obeyed and a self-certification scheme for hosts.

In Scotland, all short-lets will need a licence by July 2024, while Wales plans to introduce a statutory licensing scheme for all visitor accommodation, including short-term holiday lets, to help raise standards across the tourism industry.

View Full Article: Labour’s shadow housing secretary promises to wage war on holiday let landlords