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Martin F

Landlord

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About Me

Small time player

my expertise in the industry

12 years in business

Martin's Recent Activity

I think Letting Agents have a future, but the cowboys have got to be driven out of the business. As a landlord I manage all my properties myself but use a really good local agency to rent all my properties. The management side can be a pain for some landlords I know, but - apart from 2 tenants in last 5 years - I have had no problems with rent collection, maintenance (have a good local tradesman) and can handle all the legal requirements with a part-time employee handling inspections, letters, etc. and it still works out more cost effective than paying 12% rates. The problem for agencies started with the end of tenant fees so the only source of income became the landlords and I'm not paying stupid costs for simple maintenance jobs. A friend who has a portfolio of over 200 properties runs his own small letting agency with staff and handles only his properties. Simply put, while I think this article is wrong and that Agencies will remain - I think they will consolidate into larger agencies and the fly by night types will - I hope anyway - be a thing of the past.

From: Martin F 13 September 2021 11:19 AM

Hi Neil, yeah I can see how that would be misleading. It doesn't apply to DSS tenants who cannot claim the grant and were not eligible for the original loan. It's only private renters who hit the rocks during covid and took out a loan through the scheme. The money got paid straight to my account as the landlord and they were paying back in monthly instalments. What this new grant does is wipe out the original loans and opens it up for anyone else who may not have claimed originally (as the tenant had to be able to prove they could keep up the payments on the loan so a lot might not have qualified. Luckily the three of mine all did so happy days). Hope that helps.

From: Martin F 21 July 2021 13:59 PM

You're right that it's not mega bucks but I had a few tenants already paid me back arrears (between 4-8 months) on the loan scheme who will now be delighted to have the loans turned into grants. Added advantage they will now have some breathing space and cash to keep up to date as we come out of the pandemic (hopefully). These were good professional tenants who deserved a break and the money isn't going into anyone's pockets, it's keeping roofs over their head, stopping wasted court time and legal fees and most of the money I'm getting as a landlord is going straight back into paying off mortgages. Considering that grants were given to small businesses while the letting industry was told - in most parts of the UK - to go whistle, this is the least the Welsh Govt can do and, for once, it's much appreciated and a good idea. NRLA are right - this needs to be expanded across England. Even if it costs half a billion, that's still peanuts considering what has been paid out already to other sectors and in cosy little contracts to mates of the Westminster mob.

From: Martin F 21 July 2021 11:17 AM

The lettings market in London will be fine - more demand than supply as always. The lettings market in student towns and cities will, after a crap 2020, also recover. Not so sure for other areas of the UK though. My properties are all rented so "I'm alright Jack" I guess for now (student city) but I fear for landlords and agents in the grimmer corners of the country where industries are closing down.

From: Martin F 09 December 2020 11:03 AM

Too much of this is going on, I'm sorry to say. It's why Letting Agencies are getting a bad rep with both landlords like me and tenants. There are plenty - a majority I believe - of honest and hard working agencies out there doing their best for landlords and tenants but a few spoil it for everyone else. It means that the government will be forced to step in and legislate, like here in Wales with Rent Smart Wales for example, which just increases the costs and paperwork for everyone.

From: Martin F 01 December 2020 10:51 AM

Okay, not to throw the baby out with the bath water, but... as a landlord, I wouldn't mind a serious licensing of Letting Agents - not ARLA which is a joke - and good agents could benefit from this as it would sift the wheat from the chaff. Some agent I occasionally work with now and in the past, I have always asked about qualifications and experience - due diligence naturally - but... when I hire a lawyer or an accountant, they all have to either be Bar certified or Chartered. Sure, it doesn't mean they're guaranteed to be good but, right now, any fool can rent a shop front and call themselves a Letting Agent, which is bad for Landlords, Tenants and - especially - the good Letting Agents out there. The industry has to evolve as these big hybrid agencies with local agents are appearing and if I was an agency right now I'd be worried that without more credibility on the ground on the high street, they could be going like travel agencies and become extinct. As to the rest of the stuff about evictions and Section 21/8 - that's a gong that's being banged constantly and I'm with everyone else commenting on those points :)

From: Martin F 06 November 2020 11:52 AM

No problem with small pets in most of my properties, but no need for the government to get involved. I think we can work our things like this as, you know, grown adults, landlord and tenant and come to an arrangement. I usually charge an additional refundable bond of £100 for a cat or small dog with the tenant agreeing to cover any major damage caused by Tiddles or Rover. We don't need more legislation for crying out loud.

From: Martin F 03 November 2020 13:27 PM

I'm lucky having long term tenants and not looking at increasing rent for them any time soon. Not having the worry of voids is a blessing and all you landlords out there have my sympathy, especially with the mess that the student market is in during this pandemic.

From: Martin F 03 November 2020 13:21 PM

Interesting, and - while I'm all for better protection for referencing - this does feel a little bit "big brother" and not sure how it would help anyone other than referencing agencies. I have worked with some referencing agencies that are, to say the least, lazy as hell. They have just sent an email to the tenant's "supposed" landlord asking them to confirm they are "good tenants" and the same with contacting "employers". I use the quotation marks because in one case I ended up with a seriously bad tenant as a result who, once the bond and first months rent was paid, never paid a penny more so it was a pain to get rid of them to say the least. All this could have been sorted if the referencing agency had done serious due diligence and checks. If they do their job properly we don't need 1984 level facial recognition nonsense.

From: Martin F 21 October 2020 10:51 AM

Small pets - dogs or cats - can be fine as long as the tenant agrees to pay for any damages. Barking dogs can cause a nightmare for other tenants and nearby residents so I agree with what a lot of people are saying. If a tenant wants a pet and it's appropriate, I agree an additional bond - usually around £100-£150 - and addendum to the lease that covers the keeping of a small pet. Cat's can be useful sometimes for keeping bloody mice out of old buildings. I have one tenant who has a very good mouser cat who is clearing the place nicely lol :) BUT it should not be made into a law.

From: Martin F 16 October 2020 10:48 AM

I'm afraid I'm with Paul Barrett on this one. Maintaining a relationship with your tenants is simply good business. No business can thrive unless they cultivate a good ongoing relationship with their customers which, after all, is what your tenants are. If you don't then you get what you deserve sadly. If Letting Agents don't start evolving - especially in the face of the new proptech out there - then they will end up going the same way as high street travel agents and become a thing of the past.

From: Martin F 13 October 2020 08:17 AM

I use an agent I trust to find me tenants BUT the management of the tenancies I handle myself. In many cases my tenants recommend friends who are looking for accommodation (almost an informal reference in a way) which saves me even having to pay agents fees. I have a great independent maintenance guy who can sort out everything with the properties so It's had for me to see the benefit of using an agency and paying 10-12% monthly fees to them. I don't want to say that letting agents are a bad thing in general but I have had some terrible experiences with a few over the years that has left me wary. They do an important job but when you only have a small portfolio of BTL properties to manage, for me at least I would rather manage and relate to the tenants directly.

From: Martin F 12 October 2020 08:01 AM

Just wanted to add, having learnt some more from one of my tenants, that the scheme allows them to pay back over 5 years at 1% interest. The money gets paid directly to me the landlord and all I have to do is fill in a simple form confirming their debt and returning it signed. Process should take max 2 weeks from all documents received. I'm happy, tenants happy - what more can a landlord want in life? My kids will have presents and turkey this Christmas haha (well actually my bank manager's kids will as most will go on mortgages) C'mon England - follow the little nations for once and help out your landlords and tenants or see a nightmare in 2021 of evictions and voids on empty properties.

From: Martin F 09 October 2020 10:51 AM

Great news for me and some of my tenants who have been decent and upfront about difficulties since Covid happened. They are all applying - bring this in nationwide for England as well now.

From: Martin F 08 October 2020 10:08 AM

Ironically, this exact scheme is being put into law by the Labour Welsh Assembly for people in Wales and is a great idea that protects both landlords and tenants. It should be rolled out nationwide.

From: Martin F 09 September 2020 10:13 AM

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