landlord-tenant relationships

Want to build a million-dollar real estate portfolio? We’ve got good news for you! You DON’T have to rush full-steam ahead, buying every property that crosses your path to reach financial freedom. That’s right, instead of buying dozens of units a year, you can buy a dozen units within a couple of decades, taking the slow, steady path to building wealth instead of ferociously racing to rack up as many rentals as possible. While it may sound like every real estate investor is constantly on a buying spree, this is far from the truth. Investors like Andy Gil have been able to build seven-figure real estate portfolios without sacrificing time with family or infringing on their morals to make more money. Far from it, actually; Andy is outwardly trying to make it easier for often neglected renters to find a safe place to stay. Through the past two decades, Andy has been building his rental property portfolio up to the twelve units it is today. He never thought he would be the person to buy a house, let alone own a rental portfolio. Still, thanks to his differences that make him a superhero in aspects most investors would dread, he’s built serious wealth without sacrificing what’s important. In this episode, you’ll hear precisely how Andy did it, his “T-Rex” policy that entices renters, outsourcing your weaknesses, and using your differences to build wealth. In This Episode We Cover: Andy’s “T-Rex” rental policy that leads to low vacancy and a steady stream of passive income Outsourcing your weaknesses and why you MUST know what you don’t do well Buying a “fractured condo association” and why Andy is all-in on this uncommon asset class Taking obstacles and turning them into opportunities along your investing journey How multifamily real estate investors can prepare for an upcoming wave of vacancies  Why unit count DOESN’T matter, but the wealth in those units does! And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube A Slow, Steady, and Sustainable Way to Buy Rentals The Ultimate Guide to Adding Systems & Outsourcing to Work Less in Real Estate Going Into Multifamily When You’re Fairly New to Real Estate Connect with Andy: Andy's BiggerPockets Profile Andy's Instagram Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-803 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

We've waited four years for Rob D to rant and this is the episode where it finally happens.

This week's topic takes information from an official government publication 'The English Housing Survey' which you can find here.

Here are some of the facts we look at in the report:

Size & composition of rental sector

• 4.5m households are in PRS. That’s 20% of all households. Up from 12% in 2006
• 24% of private renters receive housing benefit, but only 5% had their full rent covered by HB
• 74% were working

Ability to pay rent

• Households in the PRS spend 35% of their income on rent. 45% in London, 32% excluding London
• 71% found it “fairly” or “very” easy to pay their rent. Falls to 41% in London
• 9% of private renters had been in arrears in the last year, compared to 25% of social renters

• Mean weekly rent is £184 overall: £300 in London, £153 outside London. Slightly more expensive than the average mortgage payment
• 66% of private renters have no savings. Of the 1/3 who did, 41% of them were under £5,000. Scary!

Length of tenancy and satisfaction

 

• Average tenancy length 4.3 years

 

• 82% satisfied with accommodation. 10% dissatisfied, compared to 13% of social renters
• Of those who had repairs carried out in last 12 months, 18% were dissatisfied with how it was done. Compared to 22% of social renters

Why last tenancy ended

• 73% because they wanted it to. 11% ended by landlord. Only 2% left because of rent increase
• Of those 11% ended by LL, 63% were because the landlord wanted to sell or use the property (but could be skewed)

So these stats would indicate that private landlords are not doing too bad of a job in fact.

But hang on a minute, another perspective came out recently which, on the face of it, looks very different which was reported in Guardian as "Landlords are turfing people out of their homes without reason - and it's completely legal" And here we have the fuel for Rob D's very first rant in four years. You'll have to listen to the podcast in full to listen to him go... 

Resource of the week

Thanks to Damien for this resource, which is a good one. It's another look at the private rental market and gives you even more data than we've discussed already. Check this one out here. 

Join the conversation over in the forum

Want to join in the ranting? Join the conversation in the forum.

If you enjoyed The Property Podcast, please leave a review on iTunes

Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air.

If you’d like to hear your name on the show, leave us a review on iTunes here.

Not sure how to leave a review? This video shows you how to review and subscribe on iTunes.

See omnystudio.com/listener for privacy information.

This week we’re talking about how to maximise your rent – both in terms of re-letting a property, and raising the rent on an existing tenant. It’s a topic worth delving into because if you’re being squeezed by growing expenses or higher mortgage payments, it’s the one way you can make more money from your existing portfolio. […]

The post TPP084: How to maximise your rent appeared first on The Property Hub.

See omnystudio.com/listener for privacy information.

Managing tenants can be a real pain. Trust me. However, on this episode of the BiggerPockets Podcastwe sit down with a full time property manager to talk about the business of managing tenants – and discover ways to make it easier and more profitable for YOU. Today Phil Dwyer from the Las Vegas area shares with us his story of becoming a real estate appraiser and transitioning to a successful property manager. In addition, we also discuss the best strategies for finding and managing the best property managers. If you have any rental properties – or ever plan to – this is a “don’t miss” episode! In This Show, We Cover: Dealing with FHA buyers Where to buy – appreciating areas vs. declining areas Finding a great property manager Why Phil chose Vegas to build his business Getting started by working a job in real estate  The most difficult part of investment property management? How to know if you are getting ripped off from your management company. The #1 best way to know how your tenant will act for you “What Would You Do” questions for Phil Red flags for tenants Dealing with pets in a rental Single family vs. Multifamily Investments What property management software Phil uses And so much more!  Links from the Show BiggerPockets Show 61 on YouTube BP Podcast 007: Making Appraisals Work For You with Ryan Lundquist FHA Home Inspection Checklist Property Manager Interview Checklist Books Mentioned in the Show Landlording on Autopilot by Mike Butler The Snowball: Warren Buffett and the Business of Life by Alice Schroeder Connect with Phillip Phillip’s BiggerPockets Profile Phillip’s Website: VegasDigs.com Learn more about your ad choices. Visit megaphone.fm/adchoices