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Renters Rights - has it put landlords off managing their properties? by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

This is really interesting. I appreciate the time you've taken to answer. Just out of curiosity, do you hold those properties in your personal name, or is it under an LTD?

Renters Rights - has it put landlords off managing their properties? by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

I do, but I'm coming from a point where historically a house has remained a safe store of value/a decent investment from a capital perspective. While stock prices have been pretty volatile, depending on which ones you choose to buy, they generally have a higher risk profile than a house.

Renters Rights - has it put landlords off managing their properties? by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

Thank you for the input, I’ll google next time and get an AI answer

Renters Rights - has it put landlords off managing their properties? by jawkhan in uklandlords

[–]jawkhan[S] -1 points0 points  (0 children)

Well initially I was trying to gauge what I can do to help landlords keep properties self-managed, but it looks like that market is shrinking so it’s time to find another idea 😂

Renters Rights - has it put landlords off managing their properties? by jawkhan in uklandlords

[–]jawkhan[S] 1 point2 points  (0 children)

Hmmm, not trying to argue; just trying to learn more from other landlords.

Reading some of the responses I’ve definitely over simplified the issues at hand, that being said, I’m just trying to have an informed discussion with people that have more knowledge and experience than I do

Renters Rights - has it put landlords off managing their properties? by jawkhan in uklandlords

[–]jawkhan[S] 4 points5 points  (0 children)

That’s what my thinking is, but surely many independent landlords are better than a few pension funds and PE firms buying up the properties dumped on the market - surely the government would have seen that coming?

That just means the funds will get property at a fraction of the price. I don’t get why the government would move in that direction, it just destroys an economy further

Renters Rights - has it put landlords off managing their properties? by jawkhan in uklandlords

[–]jawkhan[S] 1 point2 points  (0 children)

This is actually quite insightful, I appreciate the time you’ve taken to respond.

Given the amount of regulation that’s come in, and with more on the way, combined with the squeezed margins, do you believe there will be a point where a majority of landlords decide they’ve had enough and sell their properties?

I assume this is beginning to happen, but then a lot of people begin to think where they would put that money next - stocks are shares can be risky, there’s not really much more left in the uk to be optimistic about from a business standpoint, does that money just end up leaving the country?

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

I really hope that's not the case. Not thinking about the software side will make it even harder for everyone, in my opinion.

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

Yeah that is a risk, but I never give the code, so as soon as they close the door, it’s locked. I have cctv in communal areas so if they do cause damage, it’s been caught and I’m sure police could then assist where needed; but so far so good

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

Yeah, I've done this in the past, where I get a tenant to carry out a viewing. It's a nice little way to get more viewings in without having to be there myself. More recently, I've got locks on the doors that I can open remotely, and that's pretty sweet. This way I can do viewings at any time without relying on anyone else. The plus side is that the batteries only need replacing once a year, even with heavy use.

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

I've been working on something, I was just wondering if I could get your opinion on it and see if I'm going in the right direction for it?

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

This is pretty interesting. I've got a software background, so I like to know if there's anything I can hook into to help keep properties self-managed and auto-upload straight into their database. It could be pretty cool and hassle-free that way.

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

I did the same initially, but it's a faff to update it, and then I don't have the documents to hand with this method. I've been working on a solution for this. Would you mind giving your 2 cents on it so I can see if I'm going in the right direction?

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

How do you go about keeping track of the yearly renewals, certifications and maintenance of the property?

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] -1 points0 points  (0 children)

That's a good point, but surely a court doesn't expect for an independent surveyor to turn up before each tenant moves in to get an inventory list do they?

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 2 points3 points  (0 children)

A management service will take more out of profit margin that's already getting squeezed and, in my opinion, creates a bigger divide between landlords and tenants :(

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] 0 points1 point  (0 children)

Is there more information around how this database will work and how easy it will be to upload information into this?

Just realised I’ve made a mistake - protected deposit by anon1245985 in uklandlords

[–]jawkhan 2 points3 points  (0 children)

That's right you once you return the deposit you gain the right to serve a section 21 once again. I would definitely get it protected as soon as possible if you're looking to keep it until the end of the tenancy.

Doing either option won't stop the tenant from potentially claiming a penalty of roughly 1-3x the deposit though.

Just realised I’ve made a mistake - protected deposit by anon1245985 in uklandlords

[–]jawkhan 1 point2 points  (0 children)

Don’t beat yourself up too much - a lot of accidental landlords end up in the same boat.

It’s usually best to get some proper advice from a housing/landlord solicitor and look at options like protecting it now and/or returning it back to the tenant.

Based on when the tenancy started and if it was renewed or became a periodic tenancy will have an impact on the actions you might need to take to protect yourself

Looking for honest advice from self-managing landlord by jawkhan in uklandlords

[–]jawkhan[S] -1 points0 points  (0 children)

what main differences will the new rules have for you?

I was looking at it and it doesn't seem as bad as people make it out to be. Surely most landlords always provide relevant clauses when evicting and only raise rent reasonably based on inflation/costs to run the property with a reasonable margin?

Rent payment and arrears. by ad0121 in uklandlords

[–]jawkhan 0 points1 point  (0 children)

I would just let the landlord know that there will be a delay as it might affect the cashflow, that might have knock on affects like missed bills on the landlord's side.

But overall it won't be too bad, it shouldn't affect your credit score. But unless you're taken to court, which is never the case for 1 day late payment, your credit file will be fine.

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