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Noel Wood

Business owner

1251 Profile Views

About Me

Mathematics teacher for 10 years before establishing an independent residential letting agency in Yorkshire in 1996, moved into residential sales 2010. Business now managing circa 600 residential lets and built up a personal BTL portfolio over the years. Married with 5 children. Enjoys cycling, theatre and travel.

my expertise in the industry

Residential lettings since 1996. Residential sales since 2010.

Noel's Recent Activity

As a letting agent, and a private landlord, all I have seen this last two years is stock levels down and rents have shot up. Simply less available houses to rent creating a supply/demand imbalance. With more landlords leaving the sector, those that do remain can enjoy higher rentals. Tenants are now paying for the increased tax burden and increased legislative burden. The former I think was a big mistake by George O and a big driver for many landlords, the latter not as much as I agree with the new electric/EPC/smoke regulations but it will pressure more to sell.

From: Noel Wood 26 July 2022 08:21 AM

The most common response we receive when asked 'Why are you moving?' is ' My landlord is selling.' The question has to be why are landlords selling in the volumes I haven't seen for 25 years? I can give you plenty of reasons why landlords are exiting the market. The sad fact of the matter is tenants are now paying the price. Reduced supply = high demand = high costs.

From: Noel Wood 14 April 2022 18:45 PM

Same reason I left teaching 25 years ago. The merry go round of Education Ministers changing the ever changing policies to 'make their mark' in the climb up the political ladder. A constant churn of leadership.

From: Noel Wood 23 March 2022 07:54 AM

I've been letting residential properties since 1996. Never before have I seen so many landlords exit the market. The supply shortage has lifted rents significantly over the last 18 months.

From: Noel Wood 12 February 2022 17:06 PM

A lot of people making small changes will make a difference. We have to start somewhere otherwise nothing changes so well done Verity Frearson. We will be doing the same when our leases are renewed.

From: Noel Wood 02 May 2021 10:03 AM

Interesting. I'm actually allergic to cats. Doesn't this have an impact on people with allergies if they want to rent a house previously occupied by pets - particularly cats. Usually brings on an asthmatic attack. Perhaps this is why some holiday lets say no pets?

From: Noel Wood 23 April 2021 09:02 AM

The bigger issue is landlords off loading - and with more haste I expect as there is talk around CGT changes and the full effect of mortgage interest being scrapped for higher rate tax payers. Tax on turnover not profits. The eviction ban will end, but the tax policies won't. Highly geared landlords in the higher rate tax threshold have to offload or incorporate which creates its' own challenges. Manageable at the moment but what happens when interest rates start to climb? The result is those that stay in the market are now getting premium rents - simple supply and demand, not good for renters.

From: Noel Wood 12 March 2021 09:01 AM

April 1st is tomorrow.

From: Noel Wood 31 March 2020 08:43 AM

I agree with Kristjan above. If you don't have a mortgage then BTL is great investment. If you do, and you are not incorporated, then it is a challenge particularly if and when interest rates move up. I was highly geared with 30 BTL properties in my own name built up over 20 years, I have off loaded 14 to date with the aim of selling 4 more in the next 24 - 36 months. There has been zero capital growth in our area so CGT not a big issue with many properties. If you can have an unencumbered portfolio then the prospects for BTL are good as the supply reduces and the resultant upward pressure on rents.

From: Noel Wood 08 January 2020 16:58 PM

I've had my legs bitten by cat fleas, carpets smell of dog even after a professional clean meaning they have to be replaced, doggy do in the garden, chewed door architraves, floorboards wet with urine, once had a snake left behind in a property- it goes on. When a tenant vacates it is impossible to recoup the losses so the risk has to be mitigated at the START of the tenancy. No pets, I'm sorry but I have seen and paid for too much pet damage over the years to take the risk any more.

From: Noel Wood 06 January 2020 12:25 PM

It is no coincidence over the last 12 - 18 months that when a tenant provides notice to vacate, the landlord requires a sales valuation. The continuous conveyor belt of changes in legislation - both compliance and in particular tax - is grinding the will of good landlords down. The rogue landlords will not be bothered as they will continue to be just that, rogue and off the radar of the authorities.

From: Noel Wood 20 December 2019 13:29 PM

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