The Property Podcast

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', two listeners...

...ask Rob & Rob...Will the resale value of student accommodation hold up? PLUS: Does the 18 year property cycle apply across the UK?

ASK YOUR OWN QUESTION TO ROB & ROB!

Don't be shy! All you need to do is leave a message with your name and whatever's on your mind.

Just pick up the phone and call 013 808 00035 (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

NEED MORE ANSWERS?

The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors.

Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way.

Just don't hang around - there are only four Summits each year, and just 8 places available at each!

Interested? Click here to find out more.

See omnystudio.com/listener for privacy information.

So this week we put out episode 100 of Ask Rob & Rob, which is a pretty cool number. If you haven't asked a question yet, then it's easy to do - jut call 013808 00035 or go to thepropertyhub.net/ask. 

We are also expanding with Yellow and are reaching new cities all the time. Did you know we now cover all of the NorthWest, Yorkshire, Midlands and London? Because of this we need more tradespeople all the time, can you help or do you know someone who might want to be added to our little black book of awesome trades? If you do, click here to get in touch. 

Now on to the topic in hand this week, unusual ways to find tenants. Most landlords will be aware of Rightmove and Zoopla as the big portals for Sales and Lettings and any agent worth their salt should be listed with both. If you self manage you should also be using an online service to list with these two main portals.

Gumtree

A major listing site for anyone with something to sell, but did you know you can also let property here. We tested gum tree out recently a got great results in some areas like York, but not others like London. It’s free to list and the paid version which we use is still very cheap. So why not try it for your area and see how you get on.

Foreign tenant networks

There are many areas of the UK where communities of foreign nationals live. Lincoln being a prime example of this. If you have a few properties in one of these areas then once you’ve let one you may find it easier to let them all. We have found that by treating these tenants well, they are quick to place other tenants from their network for you. This maybe through online portals they communicate through or word of mouth.

Facebook groups

Yes the world's biggest social media platform has it’s uses outside of endless cat videos and too many pics of other people's children you really don’t need to see quite as much as you do. But it can also be a great place to pick up tenants. There are many community Facebook groups and chances are your perspective tenants are checking them out. 

Refer a friend

So simple but it works, if you have a portfolio of properties in one area and one becomes free then ask your current tenants in your other properties to refer a friend. At Yellow we offer these tenants a £50 Amazon voucher to motivate them.

Major local employers

You should be only investing in areas with lots of major employers this helps tenant demand and increases the potential for capital growth. It’s one of the key fundamentals you should look for. So if you’ve made a conscious choice to invest in one of these areas then why not go straight to the source for tenants. If we have a number of properties in one block (which happens because investors who use RMP go on to use Yellow) we will contact major employers in the area and attempt to get on their bulletin boards or listed on their intranet. As nobody else seems to do this, you’d be surprised at the success rate. We’ve had success with airports and factories in the past.

News story of the week: Liverpool handed boost for 2022 Commonwealth Games by being named UK's top sporting city

Rob B loves this news story for obvious reasons. Check out the latest boost to Liverpool's seemingly never ending success story in recent years as a powerhouse of a city, you can read all about it here.

Resource of the week

Stands is a Fair AdBlocker that blocks ads, popups, malware, and trackers. It's fast, light, speeds up your browsing and saves you time. And if you agree to allow a few ads on participating websites, they can be sustainable while respecting your choice. Find out more here.

Join the conversation over in the forum

Other suggestions? 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.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', Greg...

...asks Rob & Rob...How do I get JV finance for my project? PLUS: How does the long-term debt cycle relate to property?

ASK YOUR OWN QUESTION TO ROB & ROB!

Don't be shy! All you need to do is leave a message with your name and whatever's on your mind.

Just pick up the phone and call 013 808 00035 (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

NEED MORE ANSWERS?

The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors.

Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way.

Just don't hang around - there are only four Summits each year, and just 8 places available at each!

Interested? Click here to find out more.

See omnystudio.com/listener for privacy information.

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.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', Russell...

...asks Rob & Rob...Can I trust my mortgage broker? PLUS: How do I find an absent owner?

ASK YOUR OWN QUESTION TO ROB & ROB!

Don't be shy! All you need to do is leave a message with your name and whatever's on your mind.

Just pick up the phone and call 013 808 00035 (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

NEED MORE ANSWERS?

The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors.

Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way.

Just don't hang around - there are only four Summits each year, and just 8 places available at each!

Interested? Click here to find out more.

See omnystudio.com/listener for privacy information.

It's Meetup night tonight, and we're hoping lots of you are headed to our free and friendly gatherings all across the UK and beyond. If you haven't yet booked your ticket you can find your nearest location here. Rob B is heading to the coast, and will be in Bournemouth saying hi to some local Hubbers there.

Now, on to this week's episode which is all about a shake up in the mortgage market that may have just slipped under the radar. Now, some of you won't be affected by this at all but some of you really will so you wont want to miss the details.

So, the Bank Of England has an arm called the Prudential Regulation Authority (PRA) that regulates lenders. They’ve brought in new rules that lenders must follow, to avoid the risky lending that contributed to the last crash.

This is happening in two parts:

• Tougher rental cover tests, since January 2017
• “Portfolio landlord” underwriting, from September 2017

So what are the rules on rental cover:

• The rent must cover at least 125% of the mortgage payment when the interest rate is at least 5.5% – but many lenders are using 145%
• Rule of thumb - each £100 of monthly rent will support £15,000 of borrowing
  • So £500 rent = £75,000 borrowing. If it costs £100k, you’re fine. More than that, you’ll need a larger deposit = lower ROI
• However this doesn't apply to:
  • - Mortgages for limited companies
  • - Bridging lending
  • - Commercial or semi-commercial property
  • - Holiday lets
  • - Any loans with a fixed term of five years or longer
• Effect: You won’t get as much leverage for lower-yielding properties

What about the forthcoming portfolio Landlord underwriting?

• So the definition of “portfolio landlord” is someone with 4 or more mortgaged properties
• Any properties in a Ltd Co also count towards the total
• Every lender can decide what they want to see, but PRA suggests they look at:
  • - Property portfolio spreadsheet
  • - Cashflow forecast spreadsheet
  • - Income and expenditure spreadsheet
  • - Business plan
  • - Three months' bank statements
  • - SA302s and tax overviews from HMRC
  • - Tenancy agreements for all properties
• Basically you need to make a case for the new loan in the context of your entire “rental business”, not just the property you’re buying
• Effect:
  • Slower applications because more for lender to look at
  • More declines, because there’s more they could decide they don’t like
• (Doesn’t apply to Ltd Companies, but they have to do most of this anyway)

So what does all of this mean?

• The rental cover tests means bigger deposits in London and a few other areas, but shouldn’t affect elsewhere
• Portfolio Landlord criteria will make for painful applications, but it’s hard to be annoyed about it because if you were going for a business loan they’d want to see all this stuff - and it is a business
• BUT it’s yet another measure that will deter amateur landlords...which could play into the wobble and mean opportunity for investors who are serious

News story of the week: Research reveals extent of price drops by property agents in London

35% of London properties have had a price reduction since they were first marketed.

Nationally, 77% of properties are selling below asking price.

Wobble time? Maybe so. It certainly looks like a buyers market right now. 

Resource of the week

http://podsync.net/ is a simple and free service that lets you listen to any YouTube or Vimeo channels, playlists or user videos in podcast format.

Join the conversation over in the forum

Will this be something that affects you? 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.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', Kush and Fez...

...ask Rob & Rob...How can I flip properties remotely? PLUS: The costs of 10-year fixes

ASK YOUR OWN QUESTION TO ROB & ROB!

Don't be shy! All you need to do is leave a message with your name and whatever's on your mind.

Just pick up the phone and call 013 808 00035 (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

NEED MORE ANSWERS?

The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors.

Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way.

Just don't hang around - there are only four Summits each year, and just 8 places available at each!

Interested? Click here to find out more.

See omnystudio.com/listener for privacy information.

Next week will be a busy one - as well as our meetups which, as always, are happening on the first Thursday of the month (find your nearest location and register for your free place here) - our latest magazine will be hitting doorsteps at the end of the month.  If you haven't already done so, check out the information about the mag here... as well as a printed copy, for £5 a quarter you also get access to our webinars which are exclusively for magazine subscribers and immediate digital access to all back issues.

In this episode, we'll be giving you seven handy tips to put more money in your back pocket.  With ancestors in Yorkshire and Scotland, Rob D has definitely got a desire to save money in his genes, and Rob B is a self-confessed "value hunter"!

We'll be discussing ways to limit your leasehold charges, how to get trade deals, making your education costs (such as books, magazines and Summits / courses) tax deductible, the importance of an annual portfolio audit which could make a huge difference to your costs even with a portfolio of one, and how to upgrade to First Class train travel for negligible additional cost.

You could join LNPG for discounts on boilers, bathrooms, flooring etc - and don't forget you can claim 10% off the annual sign up fee if you quote "RD10".

And take a look at moneysavingexpert.com's cheap energy club, which could save you a significant amount particularly for holiday lets or HMOs.

None of our tips will take up too much of your time.  Simply knowing about them or signing up once in many cases, could result in significant savings.

News story of the week: 10 UK towns where property sales have risen and fallen the most

Many studies look at prices, but this one looks at transaction volumes and shows nine out of ten of the biggest fallers to be in London and the SE with Brent falling a whopping 30%. And Retford in the East Midlands saw the biggest rise in 2016. Yet more evidence of money moving out of the capital to areas where there's more value.  Take a look at the story in full here.

Resource of the week

Back to our first money saving tip... and an easy way to ensure that a freeholder charges you no more than £40 for a consent to sub-let.  Here's a template letter for you to sign and send.

Join the conversation over in the forum

What do you think of our money saving tips? Have you any more to add? 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.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', Dave and Pete...

...ask Rob & Rob...How should I prepare for the mid-cycle wobble? PLUS: Will this cycle be longer or shorter than usual?

ASK YOUR OWN QUESTION TO ROB & ROB!

Don't be shy! All you need to do is leave a message with your name and whatever's on your mind.

Just pick up the phone and call 013 808 00035 (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

NEED MORE ANSWERS?

The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors.

Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way.

Just don't hang around - there are only four Summits each year, and just 8 places available at each!

Interested? Click here to find out more.

See omnystudio.com/listener for privacy information.

In this episode, we're looking at how to build high-value networks.  We'll be suggesting ways to avoid the mistakes that we see all too frequently, helping you to build a network that will rocket your success.

The problem is that the people you really want to connect with are busy, and already have their own network - so they’re not motivated to get to know you. What do you do?

We talked about the basics in Episode 133, and now we delve deeper into seven areas, from making contact little and often, to sharing what you are learning (a great way to do this is to start a progress journal on the forum - check them out here), and using your network to grow your network.

Everything we talk about also applies to life outside property... perhaps you are looking to network in a business context, or make contacts relating to interests outside of work?

Our new online course...

Don't forget to check out our new, totally free course: Which Strategy Is Right For You?. If you're yet to discover all of our free training content then you're missing out - you can find it all here .

News story of the week: Property industry leaders announce 'game-changing' breakthrough in bid to reduce risks of commercial property lending boom and bust

This grabbed our attention because, even though about commercial property, it's interesting that senior people in the industry are taking note of the 18-year property cycle. The article looks at a new way of measuring real estate values that may help smooth the market’s notorious cycles of boom and bust.  Take a look at the story in full here.

Resource of the week

Rob B's new purchase is the Amazon Echo and he's having fun asking Alexa to play music, provide information, predict the weather and even tell jokes! Who would have realised he was such a Spice Girls fan too...

Join the conversation over in the forum

Have you been able to develop a high-value network, and what have you learned along the way? Join the conversation on 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.