Making Lenders More Landlord Friendly
February 9, 2013
The private rented sector now stands at 18% of housing stock and is projected by some to grow to 25% by 2025. Lenders are key to this growth. Many landlords have proved we are a pretty safe bet when it comes to lending with repossessions in the buy to let sector standing at just 0.13%. I make presentations on financing your portfolio from the landlord’s perspective and I often hear frustrations from colleagues. I’ve summarised here some of the ways that lenders could be more […]
The absurdity of Newham’s borough wide licensing scheme became clear this week as it emerged that of the estimated 35,000 privately rented properties in the borough only 19,000 – or 54% – have actually applied for the license, according to a letter sent by the council to me and other Newham landlords. That means that instead of focusing resources on finding rogue operators, council staff will now have to trace these 16,000 properties. The deadline for applications was 31 January 2013.
During the cold snap, I visited a couple and their child who rent one of my flats. They speak limited English and wanted to meet me face to face as they’d had a confusing letter from the water utility about a meter change. They’re often a bit embarrassed about bothering me: I aim to be patient and encourage open discussion. We resolved the water meter issue and then the husband prompted his wife to say something about the last gas bill they’d […]
Are you brave enough to source your own tenants? It’s a doddle isn’t it? I’m really happy with the refurbishment I’ve just finished and the last piece of the jigsaw is to find a tenant. I manage my properties myself and I’m starting to question whether to use traditional agents to find tenants. I had a couple of bad experiences earlier this year with tenant finds by a large reputable company. They found me good tenants and the rents were great. But in spite of […]
Introducing Stelios the builder, the star of my current refurbishment, with a selection of sample bricks for a wall we’re rebuilding. He’s a great guy and project manages all the trades and labourers with real skill and panache. I learn from him every day – having a good builder gives me confidence to push the business forward. We have such a laugh too – it’s so important that you have fun on the way isn’t it?