First appointment Harrow Weald to view a 2-bedroom first floor flat for sale. It’s on the market at £419,950. Had a quick look on Zoopla, suspicions confirmed its seems overpriced for what it is. The back ground is, it’s been on the market for 2 months and hardly any viewings let alone offers. Will discuss with the vendor to reduce price below £400k, need to generate some interest. Wow, just found out service charges are over £2k pa, that will put people right off. Viewing went well and i’ve just signed him up, he’s agreed to market the property at £395,950 and see how it goes. Good start.
Back in the office, RJ just informed me that he has secured a tenant for a unique 1-bedroom house we have, not too far from the office. Good potential tenant, we’ve known him a couple of years from him living with his in-laws in one of our properties now he wants a place for him and his wife. I tell RJ, when he does the ‘Right to let’ checks to show the young intern PP how it’s done and how we verify documents. The tenant is working as a chef from the Middle East. He is on a low income so will be topped up with housing benefit.
Roof of our ‘conference room’ still leaking whenever it rains must get the builder back in to check, i am sure he only fixed it last week.
Went online and paid a few landlords their rent. I don’t like sitting on their money. As soon as it comes in from the tenant i send it back out. With over 200 properties i need to keep on top of it, which is no easy task 🙂 But i enjoy the challenge !
Property licensing is gathering momentum. So far in Brent three Wards – Wembley Central, Harlesden and Willesden Green are affected. All properties rented in these wards require a license. I anticipate most wards to follow suit very soon. The premise behind the licensing scheme is noteworthy. Crackdown on unscrupulous landlords and reduce overcrowding. It worries me however the amount of regulation affecting the PRS (private rental sector), together with the restriction on mortgage interest relief and the 3% surcharge on buy to let and additional properties. As a result sales in the last quater have been at an all time low for us and lettings has definitley stalled as we apply for licenses.
On a brighter note a friend has opened a bar/restaurant across the road. So we will be frequenting it tonight to taste the delicacies of South India as we debate the pros and cons of the licensing scheme 🙂
DSS Select
