LandlordZONE

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Nov, 2014

Saturday

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  1. Replies
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    The redress scheme issue may help, whether they...

    The redress scheme issue may help, whether they are or are not registered. This thread indicates that significant fines may be levied on agents which are not registered as required.

    I have...
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    As was recently pointed out to me, as of 1...

    As was recently pointed out to me, as of 1 October 2014 all property agents that carry out estate, lettings and property management work are required to belong to one of three government-approved...
  3. Agreed. There is an argument to say that this is...

    Agreed. There is an argument to say that this is the case.
  4. These are excellent idioms. There is an...

    These are excellent idioms.



    There is an argument to say that enforcement = deterrent = good business long term (...if everyone does it).
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    I believe the accepted wisdom is that they will...

    I believe the accepted wisdom is that they will all buy Lamborghinis, so maybe invest in VW.
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    To respond to my own question here for the...

    To respond to my own question here for the benefit of others who may want to know the answer, I phoned DPS this morning and they would not give information by phone. They said I would have to write...
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    Yes, IMHO you should include costs in any...

    Yes, IMHO you should include costs in any calculation. A straightforward [annual income] / [purchase price] calculation gives gross yield which is not very meaningful. The question of how to...
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    On what basis? From a quick look around, I...

    On what basis? From a quick look around, I cannot find anything to corroborate this. There are various sources, however, which state or imply that it is OK to use agent's address e.g.:

    "...what...
  9. And I suspect that a typical London property...

    And I suspect that a typical London property would not achieve a net yield of 5%.
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    Tenant.---

    Tenant.---
  11. I agree with this approach. I would assume...

    I agree with this approach.

    I would assume growth, in real terms, of zero - and consider that negative growth is a possibility especially in London*.

    * At least in the medium term, on the basis...
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    Being more verbose and continuing the logic maybe...

    Being more verbose and continuing the logic maybe I could have said something like this, which I will call the Parable of the Agents:

    There are good agents, which tend to get recommended, attract...
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    Yes, that is what I was suggesting. Say for...

    Yes, that is what I was suggesting. Say for instance tenant leaves with a month's rent arrears. Should be straightforward to claim through the courts (although of course no guarantee of getting the...
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    Thanks for the replies. The situation I...

    Thanks for the replies.



    The situation I referred to here was not a possible future loss, but rather taking a loss of rent rather than the alternative double-or-quits option of taking tenant to...
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    Landlord vs Agent

    I have a situation not dissimilar to a couple of recent threads here and here.

    I have experienced losses and/or been exposed to risk by the inactions of my former managing agent. Said inactions...
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    As an occasional buyer, I have seen HMOs...

    As an occasional buyer, I have seen HMOs advertised through regular agents and if I was looking for one the first place I would be likely to look would be a well-known property portal. As others...
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    I would be inclined to advise you to invest in...

    I would be inclined to advise you to invest in some punctuation.
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    Unintentional pun, one presumes.

    Unintentional pun, one presumes.
  19. Not the same thing, I would say. Essentially,...

    Not the same thing, I would say.

    Essentially, petrol stations all buy much the same product for much the same price in a fairly free and large market. An increase in cost of the product affects...
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    Thanks - I have learned something today.

    Thanks - I have learned something today.
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    The difference being...?

    The difference being...?
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    Presumably you have got an agency agreement which...

    Presumably you have got an agency agreement which will state what notice period is required. It will also say if there is anything to stop you discontinuing agent's services during a tenancy, and if...
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    I was thinking that maybe a second derivative was...

    I was thinking that maybe a second derivative was required i.e. an 'unconscious humour from posters in the unconscious humour from posters thread' thread.
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    09/08/2014: Unconscionable adjective ...

    09/08/2014:



    Unconscionable
    adjective

    not right or reasonable.
    e.g. "the unconscionable conduct of his son"
    synonyms: unethical, amoral, immoral, unprincipled, indefensible, wrong
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    It sounds to me as if the house in question is...

    It sounds to me as if the house in question is best-suited to families in which case you might struggle to let it to the childless couple you would like to see there.

    Most reliable option off the...
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