The Renters Reform Bill and what it means for you. The Renters Reform Bill has recently had its second reading and it is now almost inevitable that it will become legislation in the not too distant future. Granted, there may yet be some further changes to what is included in the current draft but the […]
The correct response to a party wall notice. As you grow your property portfolio you will doubtless at some stage receive a party wall notice from a neighbour detailing works that they propose to undertake to their property and which may affect yours. Notice under the Party Wall etc Act 1996 should be served where […]
I was recently reading about a case where three landlords of property in Cambridge were fined around £8,000, after a number of their HMOs were found to be unlicensed. The article stated that an inspection of the first house was carried out after a review of council records in February this year. It found that […]
The added incentive for energy efficiency. Many landlords were relieved that Michael Gove has recently suggested that the requirement to get rented property to an EPC band C for new tenancies by 2025 and existing ones by 2028 should be relaxed on the basis that it is asking too much of landlords in too short […]
The prospects for Buy to Let. Everyone involved in Buy to Let will be aware of the speed at which interest rates have been rising and it is likely that the rate will hover around 5% for the next year or two. Accordingly this means for most, a significant increase in their monthly costs which […]
The Renters Reform Bill and what it means to you. Last month saw a first reading of the proposed Renters Reform Legislation, heralded to provide a fairer letting environment for tenants. But what could it mean for landlords? The central part of the proposed legislation is the abolition of non fault evictions. This in itself […]
How to navigate the auction legal pack. Many property folk are attracted to the lure of the auction room. A definitive purchase on the fall of the gavel with completion typically 28 days thereafter are the principal reasons that seasoned investors like to buy at auction. However, buying at auction requires meticulous preparation and the […]
More legislation on the horizon? Forty Nine percent of landlords, according to a recent survey by Benham & Reeves, have been left disappointed by the recent budget as despite the murmurs of the retention of 19% corporation tax and perhaps even the repealing of Section 24, there were no obvious positive changes announced for those […]
Whether you currently have one rental property or a growing portfolio, fulfilling your role as a landlord, managing tenancies, keeping on top of compliance issues, dealing with funders, partners, agents and the like can be quite overwhelming, particularly if you are running your portfolio whilst holding down a full time job. Outsourcing some of the […]
Rent to Rent has been a popular strategy encouraged by a number of property training groups as a strategy which allows you to get started in property when you perhaps do not have a sufficient deposit to purchase an investment property. Such a strategy operates whereby a company or individual, often classed as the immediate […]
Making the most of what you’ve got! With this months magazine leading on deals which can produce a substantial profit I thought I would consider some of the successes that I have had and that I have witnessed others perform in the hope that I can assist you in your quest for enhanced profits on […]
How will they value my HMO? One of the most common questions I get, is from HMO owners keen to understand how surveyors will value their HMO investment either as part of a refinance application or on behalf of a buyer if they are disposing of their investment. The answer is a resounding, “It depends.” […]
Expanding your Portfolio. In my experience, investors potentially suffer from two conundrums, namely they often struggle to find suitable properties to buy and secondly only have a finite amount of funds available to expand their portfolio. It is for these reasons that most serious investors eventually develop some creative strategies to overcome these two scenarios. […]
Moving into property full time. Most people I know with a property business started whilst they were still working their “day job.” In many ways this seems like a sensible approach to manage the risk of your new venture faltering and providing a much needed regular payslip whilst you get your fledgling property business off […]
Commercial to Residential Conversions Historically there were quite significant hurdles to overcome for a residential developer to convert commercial premises. That however changed in 2015 and since that time the planning system has continued to evolve such that the conversion of commercial premises to provide residential accommodation is arguably easier, so far as the planning […]
Who is sourcing your deals? This month I thought I would share a recent experience I had dealing with a Deal Packager. I am currently retained to deal with the disposal of a large commercial unit in East Kent on behalf of a private Client. Having spent 20 years as an Estate Agent specialising in […]
The consequences of reform Few landlords will have failed to see the headlines recently heralding the Fairer Private Rented Sector White Paper or its more used title of the Renters Reform Bill. Clearly I was not invited to comment to Government on the proposals but if I had, I may have responded with “Be careful […]
It’s not just the Utility costs….. Many HMO operators and serviced accommodation providers who include utility bills within their quoted rent levels have already seen their business models change as a consequence of soaring utility bills and indeed these costs are set to increase even further with a revised pricing cap and the onset of […]
Developing in uncertain times. No-one within our industry will have failed to notice that the economic outlook has changed significantly since late September. For some, this may be the catalyst to take a break from development and to wait and see what happens. For those of the more “glass half full” disposition, this new economic […]
The private landlords response to Build to Rent. Many private landlords are nervous about the recent and ongoing growth in Build to Rent schemes, believing that they may offer tenants a quality of accommodation and breadth of service not currently found in the private sector. Fears that the single lets of private landlords will lay […]
Adding Value to your Investments. Television programmes and Sunday Newspaper supplements would have you believe that adding value to property can be as simple as freshening up paintwork or updating your Kitchen units and to a degree this can be true. A seasoned property investor however will take a more holistic view about how they […]
With an estimated 680,000 in the UK, it is likely you may have considered purchasing a listed building. The process of listing a building started after the second world war with the aim of protecting buildings of architectural merit. 92% of listed buildings are known as Grade II listed and these are described as “nationally important […]
This time of year is traditionally one where us property folk look to make plans and set targets of what we want to achieve with our property business in the coming year. I suspect this year will be different. Many of us have found this year to be very difficult due to the Covid 19 […]
There is an enormous amount to think about when you are embarking on a development and it is important to consider every eventuality before you get too progressed in a project. Not only will forward planning ensure that you have an accurate overview in terms of costs but it can also reduce the issues you […]
Many people, including myself, thought it strange that an Approved Code of Practice (ACoP L8) was introduced to address the risk of Legionnaires disease in tenanted property before mandatory electrical checks became law. This conundrum has now been resolved as the Electrical Regulations 2020 now apply to all new tenancies from 1 July 2020 and […]
It will come as no surprise to learn that Local Authorities have experienced a vast reduction in the monies they have collected since the start of the Covid- 19 pandemic. Reductions and exemptions on business rates, reduced parking income as a result of locked down town centres mixed with the likely increased spending on Universal […]
When I first started investing in property in the late 1990s, commercial premises which were let to Banks were considered to be one of the safest and most hands off property investments available. The considered view was that the chance of the bank defaulting on their rent was minimal and the chance of the bank […]
Historically, some Government supported energy measures have been introduced prior to the public interest really being there to support them. I am sure I am not alone in confessing that I only began to seriously consider solar panels on my properties after the feed in tariff had been significantly reduced! Accordingly, I think it is […]
Many of you will be familiar with the phrase “If you thought hiring a professional was expensive, try hiring an amateur”. I recently received an appointment to monitor a construction project from someone who is both experienced and knowledgeable on construction matters. This chap is in a small minority as many people involved in property don’t […]
At a number of events I have spoken at I have been asked about Article 14 which related to the fire safety for high rise blocks over 18 metres and in particularaimed to provide guidance for building owners with aluminium composite material (ACM) in their external wall systems, including cladding and insulation. On 20th January 2020, […]
As the host of the Question and Answer session at a local property meet, I am asked a myriad of questions about property matters. I find it useful to understand the concerns of fellow investors as well as getting a feel for the market in various areas. One common thread of late has been questions […]
It appears that the current efforts of lockdown have yielded a positive result with incidences of corona virus reducing. Property folk will therefore be turning their attentions to a post lockdown environment and so this month I wanted to review some of the actions that should probably be on your “To do” list. Legionella: The […]
Party Wall Surveyors are regularly engaged where work is to be carried out to a wall shared with another owner. Also where excavation is due to take place within 3 or sometimes six metres of a neighbouring building. Demystify Party Wall Surveyors To try and demystify the works of party wall surveyors we have decided […]
Planning Conditions are an important part of the pre construction, due diligence process. The conditions imposed as part of the planning consent must be observed to avoid enforcement action by the Local Authority. We at Graham Kinnear Property Consultant understand that upon receipt of a planning approval, Clients are generally very keen to appoint a […]
Fitness for human habitation Fitness for human habitation is clearly the absolute minimum standard that a residential tenant can expect and accordingly on 20 March 2020 the Homes (Fitness for Human Habitation) Act 2018 came into full force. The Fitness for Human Habitation Act gives new rights to tenants and therefore additional compliance obligations for […]
Dilapidations in Kent Commercial Premises, some thoughts if you are a commercial landlord or tenant. Dilapidations in Kent Commercial premises are the subject of much debate however if you are a landlord of Kent commercial premises or a tenant occupying Kent commercial premises then it is imperative that you have an understanding of dilapidations and […]
Rights of Light and how they could affect your development plans. Many property investors will be familiar with the term “rights of light” but far fewer will be able to honestly say that they have given the matter any thought when assessing the development viability for a new build or refurbishment scheme. The existence of […]
A new decade and more changes affecting landlords. 2020 is proving to be another year which will see further regulation impacting the private rental sector. Whilst the threats of a tenants right to buy and stringent rent controls appear to have subsided at least for the time being, there are a number of changes which […]
Many of us start our property journey with the simple redecoration of a property or the installation of Kitchen and bathroom fittings. For those not put off by their early endeavours, most move on to more ambitious projects and those which require employing one or more contractors. Such a move obviously requires additional organisational skills […]
A new build development is one of those milestones that almost all property investors aspire to undertaking. Those that do achieve this goal should be justly proud of themselves, as it is more than simply obtaining planning permission and sourcing a builder. This month we are going to consider the work which could be required […]
With many estate agents reporting a slow down in transaction levels there are an equal number of property investors who believe that 2019 will be a year of opportunity to source out a nervous seller, a fed up landlord or some BMV opportunities. My lesson for this month is that whilst it is fabulous to […]
Few can deny that the Buy to Let and the property sector generally have sustained significant change over the last few years. Indeed our current economic and political environment are such that further change is almost inevitable and so this month I thought we could take a look at some of those potential changes as […]
Whilst I have run numerous training sessions for property people, it is quite some time since I have directly mentored someone. Recently, I responded to a request on one of the social media platforms from an individual who was looking to undertake his submission and professional interview in advance of membership to one of the […]
What are dilapidations? Dilapidation Surveys are performed by independent dilapidation surveyors on behalf of the landlord or tenant to assess the condition of a commercial property. The highly detailed survey looks at the current condition of the building from the physical structure and installations to issues involving furnishings and general wear and tear. The subsequent survey report will therefore detail the […]
For those of you with many years experience in the property game there are two answers to this question. The first could be the section 20 notice which, prior to the Housing Act, needed to be served to indicate that the tenancy which was about to be created was to be an assured shorthold tenancy. […]
I’ve little confidence in predicting the effect of Brexit on the property landscape and so I thought I would focus on something which I can write about with some authority. Tenant Fees Ban: 2019 has been the year that we have seen the introduction of the tenant fees ban. Possibly bad news if you have […]
Over recent months I have seen an increase in the number of leaseholders contacting us for advice on how to extend their lease. In many respects this is unsurprising given the proliferation of leaseholds created in the 1980s and 1990s means that all of these leases are now at the stage where renewal should be […]
The continued attention of Government upon the private rented sector should be an appropriate prompt for landlords to ensure that their buildings are compliant. There seems an almost insatiable appetite to demonise landlords currently and so it is more important than ever that you meet your obligations as a property professional. This month I thought […]
We recently received a letter from a large property company thanking us for notifying them in advance that one of our Clients was intending to submit a planning application for alterations to their apartment. They went on to tell us how rare it is that they are notified. This surprised us for two reasons. Firstly […]
This month I have been involved with two party wall cases where significant dispute and unhappiness has occurred but in both instances it was fuelled purely by a lack of knowledge by the parties involved. So here is a quick tour of the Party Wall Act – what you need to know. The first involves […]
In this newsletter we deal with the role of a project manager for construction projects and whether you should appoint a project manager for your next building project. At a time of such considerable expense, many people often feel this Project Manager role is one that they can do without or one where they believe that […]
The property forums are filled with comments about the proposed abolition of Section 21 notices to bring assured shorthold tenancies to an end. In this newsletter we share our opinion on the matter. The Section 21 notice is known as the non fault notice and was designed to be used by a landlord who wished to […]
Should you have a schedule of condition undertaken? This first part of the party wall process is for the Building Owner to serve notice upon their neighbour to advise them of their proposals and where necessary, seek their consent. The Party Wall Notices which are served, require the neighbour to confirm their position in writing […]
THE PARTY WALL ETC. ACT 1996 EXPLANATORY GUIDE Graham Kinnear BSc (Hons), CBuildE, MCABE, AssocRICS, ACIArb, MRPSA, FPCS, CPEA, CRLM, MGIS, CeMAP, FPC, MLIA(Dip), DipDEA, MInstDEA, DipGDA, FFPWS, FIPWS, MPWAc, AIRPM, MIFSM, MITOL, CertDOCEAhas spent over 20 years involved in the property market and has both experience and formal training in party wall matters. He is […]
Many property landlords feel that the amount of legislation that they are obliged to comply with has increased manifestly over the last few years. Others think that some of legislative decisions are inconsistent, such as requiring a landlord to produce a Gas Safety Certificate at the start of the tenancy but not requiring the landlord […]
When I first started in lettings, aside from a tenancy agreement, a gas safety certificate and perhaps a brief inventory, there was little that was required for a tenancy to get set up! As the years rolled on we have seen the introduction of the Housing Act 2004, Deregulation Act 2015, Energy Performance of Buildings […]
As 2017 draws to a close I thought I would reflect on the various events of 2017 from a property investors point of view. Perhaps it will allow us to learn some lessons which will enable us to improve our business or perhaps it will show a pattern to enable us to more accurately judge […]
Many letting agencies are started by those who began as Buy to Let Investors. There is nothing wrong with that, in fact it is understandable that a landlord does a fantastic job with their own properties and feels that they can provide that level of service to others. The reality is often very different. It […]
Now that the Summer is over many investors will be looking for that Autumn project to keep them busy until the Christmas countdown commences. Therefore this month we are going to look at how best to work with Estate Agents to ensure that you get access to the properties that you want. As an ex […]
The 2004 Housing Act introduced a raft of new legislative frameworks and was arguably one of the most significant measures of Housing law of recent time. One of the more significant matters to emerge from the Act was the introduction of Selective Licensing schemes which were enabled from April 2006. Government research had identified that […]
With the relaxation of planning regulations by way of prior notification and permitted development, together with the escalating prices of existing properties, many of us property folk have turned to the development of sites, refurbishment of property or the conversion of existing buildings to secure that elusive profit or to obtain a reasonable yield. This […]
The subdivision of buildings retains its popularity amongst developers either through the creation of apartments, HMOs or in certain circumstances the creation of terraced housing through the subdivision of a detached building. The rewards can be significant. The rental return of the parts is likely to significantly exceed that of one larger unit and the […]
I have recently been involved with a case where a landlord unlawfully evicted their tenant. The tenant had been in the property for three months. The second months rent was overdue and the third month about to fall due. Instead of waiting for the third month to be unpaid and then serve a Section 8 […]
Living by the Coast I have been thoroughly enjoying the recent spell of sunshine and seeing all the visitors who are heading to our town to enjoy the beach and all the East Kent Coast has to offer. We have recently seen the reopening of a theme park in our area and have subsequently seen […]
This month we are going to look at keeping our tenants happy and ensuring the longevity of a tenancy. As landlords we must agree that the worst thing for us is vacant properties producing no income. Actually that is probably the second worse thing – the worse being occupied properties producing no income! Initially let […]
As property investors we have had to undergo significant change to our business model over the last ten years to adapt to the raft of changing legislation. We have seen the introduction of the tenancy deposit schemes, energy performance certificates, right to rent, as well as new measures to deal with identity fraud and money […]
Most of us will at some stage want to progress to bigger or more complicated developments. It’s all part of our personal development throughout our property journey. This month I am going to share with you a cautionary tale of a developer who had undertaken a couple of property conversions and developments and who subsequently […]
It is beyond argument that on our own we are unlikely to possess all the knowledge and skills necessary in order to progress in our property journey. To that end we all seek to assemble a so called “power team” to plug the gaps in our skillset, allow us to maximise the use of our […]
This months focus is on buildings insurance and why you should review your existing cover. A critical issue is to ensure that the insurer is aware of all of the details of your property including its build date, type, any areas of flat roof, construction method and the terms of its occupation. I am concerned […]
This month I want to discuss the topic of serviced accommodation, a property strategy which has seen considerable growth over the last two or three years and one which, on the face of it, can really enhance the financial return for a property compared with an assured shorthold letting. A strategy which also seems to […]
Property forums and meetings are awash with tales of investors who have invested in off plan and other opportunities in overseas countries with often disappointing results. Indeed many of the overseas real estate firms have adapted their marketing away from an investment market and focused solely on the holiday home hunter. I wonder whether that […]
Over the last few months I’ve been involved with the snagging of a variety of building projects including both refurbishments of existing buildings and new builds. I think there are some valuable lessons for those of you who are embarking upon more significant projects. The first thing to bear in mind is that the word […]
Given that three of my Clients have mentioned to me in the last month that they have started to look at property outside their immediate geographical area for investment, I thought I would take a look myself to see what various areas have to offer and therefore this month I thought I would share some […]
EPCs have been around for a decade now and many people have simply ignored them citing them as an unnecessary cost associated with dealing in property. This position will doubtless change with the introduction of the 2015 Energy Efficiency Regulations. Most landlords are aware of the new Minimum Energy Standards which come into effect this […]
No one will ever forget the awful scenes at Grenfell Tower in North Kensington on 14 June 2017 and all would agree that we should lessons from this disaster. The Government have very recently (Dec 2018) produced a document entitled Building a Safer Future which details some of the fire safety measures that are being […]
As I write this, we have just received confirmation that the Tenant Fees Ban is due to become law on 1st June leaving landlords, who have their properties managed, with the potential of increased letting agent fees as Letting Agencies try to balance their books. In the alternative, self managing Landlords are charged with the […]
Unsurprisingly, this month I thought we could consider the effects of the Brexit vote on our individual property plans. As we prepare to move into unchartered territory many people seem to be transfixed with the potential downsides to the property industry. There has been anecdotal evidence in the press since the referendum of over £1bn […]
Many people I have spoken to over the years say that their biggest property regret is the properties they have sold. Whilst it may be true to say that you can’t keep them all, with property remaining a good hedge against inflation and having the ability to provide an income, you can easily understand this […]
As 2017 draws to a close, I thought I would reflect on the various events of 2017 from a property investor’s point of view. Perhaps we can learn a few lessons to improve our businesses, or perhaps the exercise will reveal a pattern to help us more accurately judge what the future may hold. As […]
“Failing to plan is planning to fail” – admittedly a fairly cheesy corporate slogan apparently credited to Benjamin Franklin but incredibly apt for anyone considering a property development. Due in part to the permitted development rules and the ability to use the prior notification method for gaining consent for development, many BTL landlords are now […]
With the new stamp duty rules and the proposals to prohibit landlords from offsetting mortgage interest against their profit, many landlords I talk to are considering how to maximize their portfolio in what could be described as a potentially new economic and political landscape. Some are looking to further develop sites they already own and […]
This month I want to visit the role of letting agents and to establish whether they are a luxury to assist your business, or an indispensable part of your business. A recent report from the UK Association of Letting Agents (UKALA) stated that 47% of landlords would forego the services of their letting agents if […]
Many letting agencies are started by people who begin as Buy to Let Investors. There is nothing wrong with that; in fact it is understandable that a landlord does a fantastic job with their own properties and feels that they can provide that level of service to others. Reality is often very different. It is […]
If being completely honest, mostlandlords can probably admit to allowing a tenant to move into a property without undertaking particularly thorough checks. Maybe the tenancy went well, or maybe with hindsight it was the most foolish thing you ever did! Referencing your potential tenant is a vital part of the tenancy process. It is like […]
Buy to Let is one of the most popular forms of investment but can also be fraught with danger. Recent research by Credit Expert shows that nearly half of all identity theft victims who knew their impostor were landlords. Indeed an alarming 40% of identity fraud is conducted by a tenant posing as the landlord. […]
The amount of legislation that landlords have had to adopt over the last few years has been quite staggering. Indeed, just in the last decade we have had to get used to Deposit Registration, Energy Performance Certificates, HMO Licensing and Selective Licensing to name but a few. This month we are going to look at […]
I am continually surprised at the number of landlords who do not insist on having a Guarantor in place to support a tenant application even when the tenant referencing results may have recommended one. So this month we will look at how you can use a Guarantor effectively in your tenancies. For the novices amongst […]
This month we are going to look at the regulations regarding fire safety for landlords or agents who are in control of either a block of flats or an HMO where there are communal areas. Many landlords will be aware that from October this year there will be a requirement to provide main smoke detectors […]
Now that the summer is over many investors will be looking for that autumn project to keep them busy until the Christmas countdown commences. Therefore this month we are going to look at how best to work with Estate Agents to ensure that you get access to the properties that you want. As an ex-estate […]
The 2004 Housing Act introduced a raft of new legislative frameworks and was arguably one of the most significant measures of Housing law of recent time. One of the more significant matters to emerge from the Act was the introduction of Selective Licensing schemes, which were enabled from April 2006. Government research had identified that […]
In previous months we have looked at what you should do prior to the start of a tenancy to minimize the risk of that tenancy going wrong. Whilst due diligence will doubtless reduce the risk of problems later on, it is still the case that tenancies can deteriorate due to a change in circumstances of […]
If we are honest I think that there are some landlords out there who see the Energy Performance Certificate (EPC) as a worthless document and an additional administrative chore which has to be undertaken. As an energy surveyor myself I really do see the merit in them and see the advantage for a more energy […]
Landlords, as most people, are creatures of habit and often do not respond well to the need for change. But it is such inertia which will cause landlords pain and suffering if they fail to adapt and change in the face of an enormously fluctuating landscape. The last twelve months have seen the introduction of some […]
This month I want to share an experience that happened to me so that we can all learn some lessons. One of my properties had been let for twelve years and the tenant vacated. It was a while since I had been to the property or the area, so for the reletting I selected an […]
It seems impossible to open a newspaper or internet news feed without seeing a case study of the impacts of the proposed tax changes on landlords. Indeed we are seemingly being bombarded by information detailing that we will be running our portfolios at a loss once Clause 24 comes into effect, meaning that landlords can only […]