Pier24 Homes

Pier24 Homes HMO & Short Stay Property Management Services / West Yorkshire/ Call for a free quote : 0113 403 3910

05/05/2025

📢 Activist Group Generation Rent & EXTRA demands

Generation Rent is now turning its attention to one of the few tools landlords have left to mitigate risk from the tenant who stops paying rent — requesting a guarantor.

They claim it's become “almost the norm,” citing that 39% of renters who moved in the last 12 months were asked for one — up from 26% five years ago. These are their own sourced figures …. Be careful interpreting the stats.

💨They’re calling for changes to the Renters Reform Bill that would:

🔹 Restrict when landlords can ask for a guarantor
🔹 Remove the requirement for tenants who “can’t source one”
🔹 Place responsibility on councils to act as guarantors for care leavers

This feels a very heavy request after the pending renters rights bill will ban any upfront rent from tenants, remove open bidding, and make it even harder to evict non-paying tenants by removing section 21 - asking for a guarantor will only become more necessary, not less because of these choices.

💡Risk doesn’t vanish — it just gets transferred. And with current legislation, landlords are carrying significantly more than tenants.

In all likelihood I cannot see this plea gaining traction as the Renters Rights bill is already heavily favouring the tenant, & policing the legitimacy of ‘ who can’t source one ‘ doesn’t seem a very vague and hard to implement method.

⁉️Do you use Guarantors?! What’s your thoughts on the above

12/03/2025

🛠5 Tools For HMO Landlords to Minimise Maintenance Worries 🪚

🏡We’ve Been HMO Landlords in Leeds Since 2014 🏡

Below Are The Key Strategies we Have Learned⬇️

✅Clarity Over What is an Emergency

Provide a clear framework of how & when tenants can contact you. A word document bullet pointing examples of what is an emergency and what is not, justifies a place at the centre of any notice board!

✅How to Maintenance Videos

Film videos of every essential task & email to tenants so they have a simple guide in the event of setting the fire alarm off, using the stop tap, use of the thermostat, how to turn the gas off etc

✅Contact Method

We found email works great for non-urgent maintenance and provides a clear trail to follow so nothing gets missed. Avoid WhatsApp!

✅Communicate Clearly and Fairly

Be accessible and considerate when dealing with each issue . Do keep the tenants in the loop of when the issue is expected to be resolved e.g an engineer is due this Wednesday to fix the wifi at 10am

✅Reliable Tradesmen

Finally, great tradesmen are pivotal in addressing problems. They should be accessible and deliver quality work.

If you want to avoid the hassles above, please contact us about our HMO management service!

🏡 Stamp Duty Hike Adds Pressure to a Overheated Rental Market 🏡Today, the stamp duty on second homes jumps from 3% to 5%...
31/10/2024

🏡 Stamp Duty Hike Adds Pressure to a Overheated Rental Market 🏡

Today, the stamp duty on second homes jumps from 3% to 5%, leaving many landlords—who expected capital gains tax changes, not a stamp duty hike—facing unexpected costs.

🏠 Rents at Record Highs: Official ONS data shows that average rent in England is now £1,336 per month, up 8.5% compared to last year. We already had excessive rents prior to this new policy change …

📉 Landlords Exiting:
Rightmove reported that nearly 20% of homes currently for sale were previously rented, a leap from 8% in 2010. These are alarming figures for anyone renting as a large chunk of these properties will become owner occupiers .

🏗️ Policy Secondary Consequences:

We have been here before ….. other similar polices like Help to Buy increase demand , driving up asset prices without addressing the core issue—lack of housing supply. Increasing stamp duty on second homes may seem like a quick win, but will likely reduce rental stock in the future, these policies often create significant secondary impacts that the Government overlook .

💬 What are your thoughts on stamp duty hikes ?

⚡️Leeds Property Investors Network: October 2024! The highlights below: 📚✅ Ross Harding from Dwell provided a very cu...
24/10/2024

⚡️Leeds Property Investors Network: October 2024! The highlights below: 📚

✅ Ross Harding from Dwell provided a very current assessment of the letting markets and how to plan for the future with tougher regulation’s 💼

✅ Louise Wynne of WildKind interiors gave a brilliant account of how designing your spaces and thoughtful use of colours can transform your rentals & your bottom line figures 🏡

✅ Kristian Sparrow delivered a honest and enthusiastic presentation on current and future affairs in serviced accommodation market , and how to deliver quality developments with fast ROI 🚀🚀

🙌🏻 Any Serviced Accommodation or HMO queries please send us a DM 👋🏻

🔍 Big thanks to David Dixon for yet another impeccably organised event! 🙌

If your just getting started in property or looking to meet fellow property geeks come see the link below :

🙌🏻 Register here: https://propertyinvestorsnetwork.co.uk/meetings/leeds/

🏡Latest Serviced Accommodation Unit Under Our Management Going Live in November 🙌🏻🙌🏻🙌🏻🚀 This three bedroom property in L...
22/10/2024

🏡Latest Serviced Accommodation Unit Under Our Management Going Live in November 🙌🏻🙌🏻🙌🏻

🚀 This three bedroom property in Leeds is newly refurbished and has been exceptional designed by the landlord and will be an awesome place for the future guests.

Refurb and project management carried out by Paul Helm of Quattro Property Service ✅

🏡 Labour’s Ambitious Plan: 1.5 Million New Homes – Can It Be Done? 🏘️🔹 Planning Reforms: Labour wants to reintroduce hou...
12/10/2024

🏡 Labour’s Ambitious Plan: 1.5 Million New Homes – Can It Be Done? 🏘️

🔹 Planning Reforms: Labour wants to reintroduce housing targets and make it easier to build on certain green belt areas 🌳. But even with planning reforms, Labour have previously alleged the big housebuilders control the pace of construction. On the premise of high interest rates, suggestions are builders are not proactively building properties as fast due to affordability & contributing to an undersupply of property🛠️.

🔹 Land Banking or Not ?
More stronger accusations include large developers of sitting on land until conditions are perfect to maximise profits 💸 . Builders argue they’re not “land banking” but responding to market conditions and regulatory hurdles. In our opinion, flooding the market with new homes all at once, could cause a wobble in prices in the local market if 50 new build homes arrive at the same time in the same post code ⏳ There’s some credibility in pacing the delivery .

🔹 Social Housing Focus: Labour also promises the biggest surge in social housing in decades. ……… The big problem is councils lack the expertise to build effectively - when was the last time they delivered good housing housing on scale ?! 🏡

🔹 Public-Private Partnerships: In certain areas, the government is partnering with experienced private developers to create affordable housing. In London, projects like Pocket Living aim to deliver flats at 80% of market value. This at face value appears more pragmatic than local councils single handedly attempting a construction project with no recent track record of delivering the product 🤔

✅ For landlords, these potential changes are worth watching closely. The property market is always evolving, and staying informed can help us navigate the challenges and opportunities ahead.

⁉️What’s your view? Will Labour take proactive action , or is it more talk ?!👇

Picture attached is Woodhouse , Leeds in the 1970s when the council was formerly contributing to housing development

04/10/2024

🏡Opportunity Knocks For Investors as 53% of Landlords Are Looking to Reduce Their Portfolio ! 🏡

SpareRooms latest survey revealed over half of UK landlords planning to sell or downsize due to potential tax hikes by Labour Party 📈, the landscape is shifting in the property market.

A huge 92% of landlords are concerned about rising taxes, especially Capital Gains Tax.

💥 73% very concerned�💥 19% somewhat concerned
🔑 Only 23% aren’t planning any changes.

🌍 In the South East, 95% of landlords are feeling the squeese. But while some are getting ready to exit, there could be big opportunities for savvy investors to snap up great deals 🏠💷 as properties come onto the market.

✅ Legendary Distressed Debt investor Howard Marks of Oaktree Capital summarised it better than myself, "The greatest fortunes are made by investors who buy at times of maximum pessimism." Encouraging investors in all markets to focus on value and risk, rather than following the crowd.

👌🏻 And perhaps Warren Buffett said it best of all ‘ be fearful when others are greedy and to be greedy only when others are fearful’

🚀 With tax uncertainty and rentals demand still going very strong, how are you planning to move forward with your property business? 🤔

14/09/2024

🏡 Looser Mortgage Products, Short Memories by the Bank of England & Property Market Movements🏡

Britain’s biggest mortgage provider, Lloyds Banking Group, is making a brave move with a £2bn boost for first-time buyers

📈They’ve increased the borrowing limit to 5.5 times household income—up from 4.49 times . Likely many other lenders will follow suit shortly

💸 For someone earning £50,000, the maximum loan jumps from £224,500 to £275,000—a 22% increase …… More buyers may now afford homes that they probably shouldn’t be able afford, stretching budgets and pushing boundaries.

Ironically , after the 2007-08 financial crisis, the Bank of England set strict limits on mortgages over 4.5 times earnings to prevent reckless lending to help reduce defaults .

❓Perhaps the BOE’s is demonstrating how improving market sentiment and short memories can influence slack decision making 😅

✅ What does this mean for landlords?
�👉 IMO is a great opportunity to buy - there are still plenty of people sat on the fence reminiscing about 2% or less Mortgage products, although rates are creeping down, mortgages that cheap won’t be returning anytime soon, move promptly now before the market gets heated in the near future📊

📍 In West Yorkshire, average house prices surged 4.7% in the 12 months to June 2024, significantly outpacing the UK average of 2.7% 🔥.

🚀Given the trend toward slacker affordability measures , lenders desperate to lend, easy access to credit, interest rates slowly tapering down and a inadequate volume of property stock we expect the property market to gather some serious momentum over the next few years.

🙌🏻 How to you expect the property market to perform over the next 12 months ?!

06/09/2024

📢 Essentials of Property Admin, HMO headache’s and Loss of earnings ! 🏠🔍

A recent court case reminds us how crucial it is to get your tenancy admin spot on!

📅⚖️ A Section 21 ( No fault eviction) notice was rejected because the deposit protection paperwork was issued just ONE day before the deposit was actually paid. 🚫💸

📝 It might seem like a small timing error, but it highlights how vital it is to ensure all your documents are correctly issued and dated.

✔️ From deposit protection info to gas safety certificates, EPC, EICR and the How to Rent guide, every detail counts.

✅ Avoid costly delays and potential legal headaches by double-checking your paperwork or considering a professional property management service. 🏡🔧💼 Stay on top of your admin.

💡 Are your HMO tenants stretching their budgets to meet rent? 📉 New data from SpareRoom reveals that 71% of UK renters ...
30/08/2024

💡 Are your HMO tenants stretching their budgets to meet rent?

📉 New data from SpareRoom reveals that 71% of UK renters are paying more than they budget each month. As rent prices continue to climb, landlords and investors could face increased payment defaults.

📊 Across 216 towns and cities, renters in 153 areas are overspending on rent just to secure a place to live. The biggest red flags are in Central London and Edinburgh, where renters are shelling out up to £344 more than their budget each month.

✨ What About Leeds?!

💼 But let’s take a closer look at cities like Leeds, where renters are only spending £3 more than their monthly budget. At first glance, this might seem underwhelming for landlords. But we would argue this is actually a much stronger position to be in. 💼

✔️When tenants’ budgets are realistic, and they can comfortably meet their outgoings each month, there’s less risk of defaults and financial instability. In fact, a tenant who can stay on top of their rent is far more valuable than one who stretches themselves too thin and faces financial difficulties. Stability equals fewer headaches and lower costs in the long run.

✅ Compare that to the situation in areas like Central London, where renters are paying up to £344 more than their budget each month—this overspend increases the likelihood of payment defaults, which means more stress and potentially expensive legal issues for landlords.

❓What’s your take on balancing rental returns with tenant affordability?

22/08/2024

🏠 Labour's New Plans for the Rental Market – What Landlords Need to Know ⚖️

With the new government in place, Labour’s housing policies are being discussed. Here's a quick breakdown of what landlords can expect:

🚫 Abolishing Section 21 Evictions�Say goodbye to "no-fault" evictions. Landlords will no longer be able to evict tenants without a valid reason.

💼 Tenant Protections�Labour aims to empower tenants with stronger rights! Suggesting tenants will be able to challenge unfair rent hikes and reduce rental bidding wars.

📉 Banning Lump Sum Rent Payments �Introducing caps on the amount of rent that can be paid upfront to level the playing field for new tenants .

🏚️ Awaab’s Law�Originally for social housing, Awaab’s Law now extends to private rentals, making it mandatory for landlords to address health hazards like mould within a specific timeframe. ⚠️

🌍 Energy Efficiency Standards�By 2030, all rental properties must meet stricter energy efficiency standards, with an EPC rating of C or above.♻️✨

🔥 Gas Boilers�The push to replace gas boilers by 2030? It’s off the table! Labour is rolling back that mandate.

🏡 Building 1.5 Million New Homes�Labour’s goal? To get Britain building again! This includes restoring housing targets, supporting local planning authorities, and prioritising brownfield developments—
while protecting the greenbelt. 🌳🏘️

📊 Stable Tax Rates�No increases in basic, higher, or additional income tax rates. Corporation tax remains capped at 25%, with no changes to VAT or National Insurance. 💼💰

📋 National Landlords Register�A public register of landlord properties and rents is coming, ensuring adherence to Private Rented Sector (PRS) Decent Homes standards.

⚖️ New Ombudsman Service�A new ombudsman service will offer fair and binding resolutions between landlords and tenants, helping to keep disputes out of court. 🕊️🤝

🚫 No Discrimination�Labour plans to make it illegal for landlords to discriminate against tenants in receipt of benefits or those with children. Families welcome! 👨‍👩‍👧‍👦🏘️

🔍 Stronger Council Powers�Local councils will get more enforcement power, making it easier to identify and fine landlords who break the law. 🛠️💼

💡 But take this with a pinch of salt... 💡

Talking about these policies is one thing; implementing them is another. 🤔 Various governments have promised to build more homes, but the reality hasn’t quite matched the rhetoric. 🏗️ The EPC standards? They’ve been pushed back before and might be again—many argue they aren't fit for purpose. ⏳

For us, these proposals won't change how we make property purchases in the future.

✅ How about you? Does this affect your plans? 🏘️🤔

Address

Leeds

Telephone

+441134033910

Website

Alerts

Be the first to know and let us send you an email when Pier24 Homes posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Pier24 Homes:

Shortcuts

Share

Category