The Property Nomads Podcast Rob Smallbone & Aaron Devoy

Rob delves into the complexities and issues surrounding leasehold properties in England and Wales. He highlights the challenges faced by leaseholders, such as escalating ground rent and service charges, as well as the low threshold for repossession if payments are not made. Rob also touches on the proposed Leasehold Reform Bill, which aims to ban the creation of new leasehold houses and make it easier for leaseholders to buy their freeholds. 

KEY TAKEAWAYS


The government is considering the Leasehold Reform Bill to ban the creation of new leasehold houses in England and Wales and make it easier for leaseholders to buy their freeholds.
Currently, a leasehold property can be repossessed if the leaseholder owes as little as £350, which is considered a low amount and needs to be increased.
It is crucial for individuals considering buying a leasehold property to conduct thorough research, especially regarding ground rent and service charges, and to engage a solicitor to review all agreements.
Freeholders are urged to set fair charges and not take advantage of leaseholders, as unethical practices can tarnish the reputation of the housing market.

BEST MOMENTS

"A freehold basically means that you own the land that the buildings are on, and therefore you've pretty much got the right to do what you need and want to do."

"£350 is what is all it takes at the moment for a property to potentially be repossessed if that's what the leaseholder owes. And that's not good."

"Leasehold houses, modern leasehold houses, are just a bad idea in general, because people, if you're buying, especially if you're buying a house, and it's leasehold, that to me just spells danger."

"The Leasehold Bill, it's making its way through Parliament. This would ban the creation of new leasehold houses in England and Wales. It would also make it easier for leaseholders to buy their freeholds."

"From a freeholder point of view, dear freeholders, I understand there's a lot of things, costs out there, but do not rip people off because this is then painting everyone in a bad light."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline 

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS 

Property FAQs = https://amzn.to/3MWfcL4  

Buy To Let: How To Get Started = https://amzn.to/3genjle  

101 Top Property Tips = https://amzn.to/2NxuAQL  
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses the government's backtracking on the no-fault eviction ban, specifically focusing on Michael Gove's inability to guarantee its implementation before the next election. The episode delves into the complexities of the housing crisis, highlighting the perspectives of both landlords and tenants on the issue

KEY TAKEAWAYS


The government is backtracking on the no-fault eviction ban, with uncertainty about its implementation before the next election.
There are two sides to the debate on no-fault evictions, with landlords wanting the option for scenarios where they need the property back quickly, while tenants seek security and stability.
The government's promises regarding the no-fault eviction ban have been inconsistent, leading to skepticism about its actual implementation.
The issue of no-fault evictions currently only applies to England.
It is suggested to wait for the new government to see how they handle the no-fault eviction ban issue.

BEST MOMENTS

"The government have had this in place since I believe 2019 and they've wanted to bring this in and then some pandemics and all that sort of stuff that pushed things to the back burner."

"There's many reasons why demand is much higher than supply at the moment, and that's not going to change."

"Landlord's point of view is quite simple. We still want no full evictions because there are scenarios where we want the property back or if a tenant's been very difficult."

"Tenants want security, they want to be able to get by day to day, knowing that they've got that medium to long term security."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline 

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS 

Property FAQs = https://amzn.to/3MWfcL4  

Buy To Let: How To Get Started = https://amzn.to/3genjle  

101 Top Property Tips = https://amzn.to/2NxuAQL  
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses a new property strategy that may be available for property investors to explore. With many councils facing financial struggles and looking to sell off assets to cover liabilities, there is a unique opportunity for property developers and investors to potentially acquire land or buildings at discounted rates. Rob encourages you to reach out to your local council, particularly those in financial distress, to explore potential opportunities for collaboration or investment. 

KEY TAKEAWAYS


A new property strategy may be available through local councils selling assets to fund liabilities.
Property developers and investors can benefit from contacting struggling councils to potentially purchase assets at discounted rates.
It is advisable to reach out to local councils, such as Nottinghamshire City Council or Birmingham City Council, who are aiming to raise funds through asset sales.
Building a win-win situation with councils by offering to purchase assets or potentially joint venture with them can be advantageous.
Success stories from engaging with councils should be shared, and support for the podcast by liking, subscribing, and checking out the YouTube channel is encouraged.

BEST MOMENTS

"There might be a new property strategy available and there might even be a new way to obtain quite a lot of property."

"Selling assets to pay for your liabilities is not a good thing, you need to do it the other way around."

"You could be in a very good position to help your council. What you need to do is to just get in contact with them."

"There are always opportunities out there, and for the sake of reaching out to your council, you never know what you might end up with."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline 

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS 

Property FAQs = https://amzn.to/3MWfcL4  

Buy To Let: How To Get Started = https://amzn.to/3genjle  

101 Top Property Tips = https://amzn.to/2NxuAQL  
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob looks into the crucial topic of choosing the right lettings agent for managing rental properties. He discusses the two main ways to manage a property portfolio: self-management or working with a lettings agent. He also provides valuable insights on finding a local lettings agent with good knowledge and reputation, emphasising the importance of building a strong relationship with the agent. 

KEY TAKEAWAYS


Choosing the right lettings agent involves deciding between self-management or working with a lettings agent.
It is ideal to find a local lettings agent with good knowledge and reputation in the area where the property is located.
When selecting a lettings agent, consider factors such as proximity to the property, independence vs. national chain affiliation, and reviews from both landlords and tenants.
Avoid haggling too much on lettings agent fees as quality of service often correlates with the fee.
Prioritise finding the right tenant for the property over simply aiming for the highest rent, as a good tenant can be invaluable in the long run.

BEST MOMENTS

"Knowledge is power. That is what you're looking for. You are ideally looking for a local lettings agent Hopefully that's been around for a little while, they know the area, they know the streets, like the back of their hand, perfect."

"A property is a relationship. Business, it's a people business. Working with the right people is key."

"Don't haggle too much on the lettings agent fee, you get what you pay for."

"Ultimately, at the end of the day, you then just go with gut instinct, you have to go if you got instinct, we can say, not fair for us to mention names, we're not going to do that."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline 

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS 

Property FAQs = https://amzn.to/3MWfcL4  

Buy To Let: How To Get Started = https://amzn.to/3genjle  

101 Top Property Tips = https://amzn.to/2NxuAQL  
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses the current favourable market conditions for landlords in the UK rental property sector. With 10 renters applying for every rental property on average, landlords are in a strong position to rent out their properties and potentially increase rents. Rob highlights the imbalance between housing demand and supply, attributing it to government policies and planning issues. 

KEY TAKEAWAYS


Demand for rental properties is currently exceeding supply, with an average of 10 renters applying for every rental property.
Landlords are in a favourable position to rent out their properties and be more flexible with rents due to high demand.
Rental amounts have been increasing due to the imbalance between supply and demand, making it a good time to be a landlord.
Economic factors such as rent increases offsetting mortgage rate hikes contribute to landlords potentially running at a profit.
Selectivity in choosing tenants and adjusting rents based on market demand can work in favour of landlords, but finding the right balance is crucial.

BEST MOMENTS

"Apparently there are 10 renters applying for every rental property out there. This puts us landlords in a very good position for a couple of reasons."

"If your rate of return is higher than the rate of inflation and all of the above and you've done your numbers and you're still making money or currency, as I would call it, then Happy Days."

"It puts us landlords in a really good position in order to be more selective on the tenants that we're putting in to our properties."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/new-5-000-deposit-mortgage-allows-homeowners-to-borrow-up-to-99/ar-BB1kAyPG?cvid=a8d56fce268a490ed6c3e1a701b2dae2&ocid=winp2fptaskbar&ei=5&sc=shoreline 

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS 

Property FAQs = https://amzn.to/3MWfcL4  

Buy To Let: How To Get Started = https://amzn.to/3genjle  

101 Top Property Tips = https://amzn.to/2NxuAQL  
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses the issue of households wasting money on energy bills due to poor insulation, with millions reportedly wasting £500 a year. He provides advice on how to lower energy bills by improving insulation in homes, covering areas such as wall cavity, loft, floor insulation, and double glazing

KEY TAKEAWAYS


Millions of households are wasting £500 a year on energy bills due to poor insulation.
Ways to improve energy efficiency include checking wall cavity, loft, floor insulation, and double glazing.
Local councils may offer funding for home improvements to increase efficiency.
Consider options like loft insulation, wall insulation, and floor insulation to reduce heat loss.
Be cautious when choosing companies for home improvements and consider going through the council for familiarity and comfort.

BEST MOMENTS

"There's a lot of talk as always about insulation and people wasting a lot of unnecessary cash on energy."

"So in short, yes, we're slowly getting better at having more economical homes. But we're a long way off from where we need to be."

"If there is funding available to get loft installation or wall installation, and you're going to get it installed for free or with a minor contribution, then it's worth looking at, absolutely."

"Just beware if you're doing it on the outside of your home that will change the appearance of your home if you're doing it on the inside that will decrease the usable floor space."

"I would always say through experience, be careful and do your homework on all the other companies maybe that are offering these services because if they're not regulated or they haven't got the right certificates or the right requirements, then, you know, that could lead to disaster."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/millions-of-households-wasting-500-a-year-on-energy-bills-due-to-poor-insulation/ar-BB1ljO52?cvid=afb6593848da4136bbd945ad7983a713&ocid=winp2fptaskbar&ei=13&sc=shoreline

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS 

Property FAQs = https://amzn.to/3MWfcL4  

Buy To Let: How To Get Started = https://amzn.to/3genjle  

101 Top Property Tips = https://amzn.to/2NxuAQL  
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast