JoSe Property

03/05/2023

Do you know where the best property investment hotspots are in your area? I've been into property investment for over a decade and finding your property hots...

28/04/2023

05/03/2023

Important update for any of you running a rent to rent business.

The following is a press release from the NRLA:

COURT RULING ON RENT-TO-RENT COMPANIES:

LANDLORDS are today welcoming a landmark ruling from the Supreme Court which provides vital clarification about the responsibilities of so called ‘rent-to-rent’ companies.

The ruling in the case of Rakusen v Jepsen will have important implications for the private rented sector as a whole.

In the case, the landlord, Mr Rakusen, agreed to let a flat to a rent-to-rent company. The property required a licence, but the company did not apply for one.

As a result of the failure to be licenced, the former tenants of the flat sought a Rent Repayment Order against Mr Rakusen rather than the rent-to-rent company – even though he had not received rent directly from the tenants.

Rent-to-rent companies take over the running of a property for a landlord.

At an initial tribunal it was ruled that the Rent Repayment Order could be applied for against Mr Rakusen. The Court of Appeal however later overturned the decision and ruled in Mr Rakusen’s favour.

Today, the Supreme Court has ruled that where rent-to-rent companies take over the running of a property, they cannot shirk responsibility and expect to leave the landlord to pay for their legal failings.

Ben Beadle, Chief Executive of the National Residential Landlords Association, which intervened in the case in support of responsible landlords, said:

“This case has never been about whether legal obligations should be met, but about who should be responsible for them in rent-to-rent cases.

“We therefore welcome today’s ruling which accepted many of the arguments made by the NRLA and provides important clarity for landlords and tenants alike.

“The ruling makes clear that it is the responsibility of rent-to-rent companies acting as a landlord to ensure that relevant legal requirements are met, since it is they who receive tenants’ rent. It is simply not right that such companies can take money from people without any responsibility for the property they are running.”

**Licensing and all associated legal compliance is the responsibility of the rent to rent company - not the landlord.

Adjust your rent to rent agreements accordingly to ensure you are fully compliant.

05/03/2023

A big decision for PropertyInvestors: Why use a property sourcer to find you a deal?

Often, we hear the words ‘well why pay for a deal when we can find one ourselves’- especially for start up investors. But did you know that....

☑️ Property sourcers have the KNOWLEDGE to be able to find a property deal. They know how to do in depth analysis of key factors such as location and good comparisons to other properties.

☑️ Sourcing specialists who have been working for some time have EXPERIENCE sourcing deals for other clients.

☑️ Having a sourcer on hand guarantees good deals and SAVES YOU TIME better spent elsewhere

We recommend going with a specialist in the industry, or better yet, send us a DM! 🙌

01/03/2023

01/03/2023

In 2021, there were 19.3 million families in the UK, which represents a 6.5% increase over the decade from 2011 to 2021.

In 2021, there were 3.0 million lone parent families, which accounts for 15.4% of families in the UK; the proportions ranged from 13.1% in the South East of England to 17.8% in the North East of England.

The number of families that include a couple in a legally registered partnership in the UK has increased by 3.7% in the past decade, to 12.7 million; by comparison, the number of cohabiting couple families saw an increase of 22.9% over the same period, to 3.6 million.

There were an estimated 28.1 million households in the UK in 2021, an increase of 6.3% over the last 10 years.

The number of people living alone in the UK has increased by 8.3% over the last 10 years; in 2021, the proportion of one-person households ranged from 25.8% in London to 36.0% in Scotland.

In 2021, 3.6 million people aged 20 to 34 years were living at home with their parents; this represents 28% of people in this age group, an increase from 24% a decade ago.

28/02/2023

Please be mindful that when a deal is posted a lot of hard work has been done. From commuting, viewing, due diligence, negotiating and packaging a deal. It’s OK to say that you’re interested BUT PLEASE BE INTERESTED WITH INTENT and try not to waste the time of the sourcer that has put in the hard work. I know you initially have to show interest to get more information but I feel that some of you are just playing monopoly!

24/02/2023

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21/02/2023

There is a fear that work required to bring rental units up to new Energy Performance Certificate levels by 2025 could render many of them “unmortgageable and unprintable”.

According to the Ministry of Levelling Up, Housing and Communities there are some 13m homes in England and Wales currently with an EPC rating of D or below.

From 2025 new rules mean rental properties with an EPC rating of D, or below, will not be able to take on new tenants.

The latest warning comes from John Eastgate, property finance managing director at Shawbrook Bank, who comments: “For many property owners in the UK, getting their property to a C rating is going to take a lot more than simply installing a new boiler. The reality is that for older properties - some of which may be listed- it will be an expensive exercise to make the necessary changes.

“… It’s completely right that we should all be considering how to make our properties more energy efficient and environmentally friendly. Some owners, however, will need support from both lenders, and the government, to make these changes financially possible.

“Without this, we risk a substantial part of the private rental sector becoming unrentable and therefore unmortgageable and unsellable in 2025. With home ownership still out of reach for many this could leave us with a shortage of quality homes to rent.”

Eastgate’s comments come despite a new survey suggesting that at least some landlords are already attempting to improve the energy efficiency of their investment units ahead of new legislation kicking in, in 2025.

Research from the bank has found that 17 per cent of landlords have already made efforts to improve energy efficiency, rising to 22 per cent of portfolio landlords.

For example, of all the landlords that had undertaken a refurbishment, 22 per cent had replaced the boiler and heating system, a further 23 per cent had replaced windows, and 18 per cent had installed new white goods.

Making properties more energy efficient can boost demand from tenants too, says the bank.

Indeed, one in 10 private renters contacted as part of the study said that they would stay in their current property longer if their landlord made changes to the property which benefit the environment.

Tenants were also happy to pay more in rent should landlords make certain changes to their property.



Some 18 per cent of tenants said they’d pay more if windows were replaced, 15 per cent would pay more for a new boiler and heating system, and 10 per cent suggested that installing solar panels would justify paying more rent.

However, for those investors who own older properties - which are typically less energy efficient - it can be harder to improve the rating.

This could mean that by 2025 some properties could be ‘unrentable’ and ‘unsellable’ warns the bank.