tennants

Soaring oil and gas prices are crippling western economies and ordinary people are suffering. But there is a way western leaders can end the energy crisis in an instant…watch video. 

Check out full video - https://youtu.be/t-yniGn_SKA

ECB Warns Of Housing Market Bubble

The European Central Bank has warned this week that a housing market correction – caused by faltering economies, inflation and the Ukraine war – could put banks at risk of defaults and hit low-income families.

Windfall tax to help people with fuel bills announced

In the UK, Chancellor Rishi Sunak has announced a £5 billion package to ease the burden on soaring energy bills for millions of households. The aid will be funded by a controversial ‘windfall tax’ on energy companies which have profited from record oil and gas prices.

Every household will receive £400 through their energy bills and the poorest will also receive £650 to help with the rising cost of living.

US Fed is planning more restrictive measures to curb inflation including higher interest rates.

Letting Agents could be putting landlords at risk of prosecution

Most letting and managing agents do a good job for landlords who prefer to keep their buy-to-let properties at arm’s length.

However, not every estate agent keeps up with the raft of changes in legislation impacting property rentals in the UK, and a few are completely unaware of the current requirements.

There are currently 160 pieces of legislation directly and indirectly affecting tenants and buy-to-let landlords in the UK!

The Housing Act and Landlords and Tenants Act are the two main laws governing buy-to-let renting, but they overlap with many other regulations which can easily trip up landlords who reply on their letting agent to ensure they are acting within the law. 

In most cases the landlord is ultimately held responsible when things go wrong. This can lead to massive fines, penalties and even imprisonment.

In my experience, I found that you should never totally depend on an estate agent to keep you legal when dealing with tenants – because they often do not know all the rules and procedures, which will put me at risk of prosecution or failure to get possession in the event of a dispute or rent arrears.

For instance, failure to supply a tenant with required documents such as the How to Rent Guide and the Prescribed Information could result in a judge refusing to grant possession should the landlord need to resort to eviction. 

I have been shocked to find that many established agents did not even know what the Prescribed Information was!

This could be due to lack of training, but could also to down to laziness and just not bothering to carry out any CPD (Continuous Professional Development).

This is particularly prevalent in one-man-band ‘mom and pop’ agents where, unlike national and franchised companies, the owner operator is too busy to research all the changes or attend courses.

Franchisees must undergo strict training to start trading, as well as ongoing training and CPD. They are also supervised and have access to support and systems which keep them on the right track.

Estate Agents do not have a great reputation in Britain, ranking up there with politicians and lawyers! The poor service I have received over my 30 years as a property investor from estate agents has prompted me to launch my own estate agency business under the excellent Open House Estate Agents franchise banner.

The training and support for my team and I has been outstanding, and I will be officially launching in June. 

FREE TRAINING – PROPERTY INVESTING SECRETS

This Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday 1 June 2022 at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

https://bit.ly/3DlSlCL

JOIN ME FOR UK PROPERTY TALK SAT 28 MAY 2022 10AM

Number of rental properties growing in the UK – click here to register

New research shows the number of UK rental properties has grown by over 1.1m in the last decade, placing the UK in the top 10 globally when it comes to the balance between homeownership and renting.

Register - https://contexttraining.aweb.page/p/c1e369d0-56b1-45a3-8264-0c0a7e875d23

click here to register

In this episode:

• Renters Reform Bill announced in Parliament.
• Planning reform
• Property prices
• Demand has jumped for properties where all the bills are included in the rent, according to Rightmove.
• The property website said inquiries for build-to-rent homes with bills included had risen by 36% over the past year.
• It comes as two students had to pay £27,000 up front to secure a Cardiff flat, due to rental market demand.
• The Welsh government plans to consult on rent control for private rentals.
• Rents are rising at the fastest rate for more than 13 years, according to property experts Zoopla. They said this is because of limited supply, caused by an "exodus" of private landlords.
• Last month, Wales had the biggest annual jump in rental prices outside of London - up 13.9% to £882 per month according to Rightmove.

UK Property Talk Show 10AM Saturday.

Click link to join: - https://bit.ly/3sjxRa1

UK Economy dips last month following US quarterly fall in output.

The vast majority of 'buy-to-let' landlords are small investors with one or two properties, and many are accidental landlords. Landlords I have spoken to said they would pull out of the market if 'open tenancies' were forced upon them and would be too nervous to rent out a property to a tenant were they would not be sure about getting back possession at the end of the tenancy.

Join me on UK Property Talk to discuss this and other property matters this Saturday at 10 am.

Click here to register for UK Property Talk - https://bit.ly/3sjxRa1

You will be sent a link to join this exclusive live event.

We talk about:

• Finding good renters
  • Do credit checks
  • Be patient it can take many showings to find the right renters
  • Use renter screening tools like cozy.co 
• Be extremely clear about expectations
  • Make sure to have a clause in the contract that requires a per day late fee over a set number of days. E.g. after 3 days, each day late costs $25/day
  • Be clear about pet cleaning fees 
  • If they want an exception for an animal, try to get a good idea if they really need the pet or not. I wish we asked for some sort of proof that the animal was required otherwise we would’ve charged extra
• Set up monthly or quarterly visits from a landscaper for the exterior
• Being your own handyman
• Other ways you can invest in long term properties

We recommend:

• Roofstock - Build Wealth through Real Estate 
• Second Nature - Filter subscription
• Starbucks - Maryland You Are Here mug
• Starbucks - Seattle Been There mug
• Cozy - Free property management
• Nest Learning Thermostat
• Airbnb - Our Tahoe Short Term Rental

In this episode, Ed is joined by Bob Scarff. Together they have a vast history when it comes to working as Estate Agents.
Bob went straight from school into the Estate Agency world and Ed wants to delve a little deeper, learning more about Bob and his path to success, and of course his thoughts on Corporate High Street Agents.

Property Expert Ed sits down with Vanessa Warwick who is an Ex-MTV presenter, now professional landlord, property consultant/speaker and founder of hugely successful 'Property Tribes' to discuss her story of investing into property, how she has made a booming business out of it and some great advice to landlords and investors.