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Franklin I

Landlord

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About Me

Property investor and Landlord

my expertise in the industry

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Some Letting agents are good, and some are just corrupt! The question to the title of this heading is; Are letting agents doing a good enough job for landlords? My answer to this question is NO! If agents were doing a good job for Landlord's, they would've taken responsibility for the Landlord's Tenant's Fee ban in which they the agent implemented to the Tenant's and not the Landlord's in the Tenant's Fee Act 2019. In addition to the above comments, LL's are sometimes charged an additional fee from agent's just to renew a Tenancy Agreement. They claim after 1 year of the Tenancy Agreement, that they've done their work. If I pay you £1,500 in fees for securing a tenant on a 12 months contract from September 2020 to September 2021, an agent should not expect a LL to pay another £1,500 just because the LL wishes to renew. If the tenant were to move out after 2 months of the renewal, the agent will not give a partial refund for the time served!

From: Franklin I 25 August 2021 06:58 AM

After applying all these charges on LL's in the past 3 to 5 years, from stamp duty increase, tax relief, Landlord's Licensing, Tenant's Fee Act, you name it, we've had it and now they want our help.

From: Franklin I 04 August 2021 06:15 AM

💯 Matthew Payne

From: Franklin I 28 July 2021 17:33 PM

Oh well, so much for the Tenant's Fee Act 2019. Viewing 5 properties, would cost the average tenant £150. The Tenant Fees Act bans most letting fees and caps tenancy deposits paid by tenants in the private rented sector in England. Estate agent's charge these fees to Tenant's and the LL's pay the penalty for the agent's greed at a later date!

From: Franklin I 28 July 2021 07:31 AM

It maybe cheaper in the long term for the government to make a better proposal to portfolio LL's who offer a minimum of 5 properties as a 5 year leaseback deal to the government. These tenants, will then be able to let at social rent levels or allow the properties to be used as accommodation for homeless families. A proposal such as this, would have to benefit all LL's financially in terms of Landlord's Licensing, Tax relief, EICR Certificates, EPC Certificates, Changes to private residence relief in the event a LL decided to sell part of a portfolio in comparison to any deal a LL currently has on the table today. In short, their must be tax incentives applied for a LL in order for this to work, so that it can benefit all sides, Tenant's housing, government's budget/targets and LL's pocket!

From: Franklin I 15 July 2021 07:34 AM

Interesting decision made by the government over the local council. The local council will now have to claw back these lost funds through parking restrictions, the School Streets Programme – camera-enforced closing of streets outside schools etc

From: Franklin I 13 July 2021 08:08 AM

What did the government expect? 1. Tenant's fee act 2019 (fee's applied by Letting Agent's not LL's, but the LL's pay for it). 2. Mortgage interest tax relief changes 3. Section 21 eviction changes 4. Landlord Licensing 5. The new EPC rules - April 2020 6. The new EICR rules - 2020 7. 2 Stamp duty changes in 18 months for BTL investors/LL's (George Osborne) 8. Right to Rent checks 9. Capital Gains tax changes in private residency relief 10. The economy, Brexit, Covid-19 and government intervention on eviction bans during lockdown

From: Franklin I 06 July 2021 10:17 AM

Whilst this is a delicate topic, there is a slight difference in impact between a residential LL's eviction and a Commercial LL's. If the government were to allow Commercial LL's to evict their tenants, then this will inevitably see a rise in unemployment across the UK. If this were to happen, then many people will be jobless. At the same time if residential LL's were to be allowed to evict, then we will have a homeless issue. The government will need to create a package that compensates these Commercial LL's, because come March 2022, there will be a rise in unemployment if the issue is not resolved.

From: Franklin I 18 June 2021 07:40 AM

Tenancy application fraud can involve Estate Agents. Back in 2007, I registered my property for Let, with a reputable Estate Agent. After doing the reference checks, all appeared to be copacetic. The tenant was a chauffeur according to the Estate Agent. The Tenant even paid 6 months rent upfront. After meeting the tenant for the first after checking in/collecting keys, I learnt that the tenant was a mini cab driver and not a chauffeur as the Estate Agent had previously implied. After 6 months, the tenant who had 2 dependants at the time, now approached me with a proposal. She advised that she thinks she's entitled for Housing Benefit. She still had the same job and her circumstances had not changed! I advised the tenant, that when she took this property, she knew well in advance that she wanted to apply for Housing Benefit after a certain period. In short, this was an Application fraud to get in through the back door

From: Franklin I 21 May 2021 13:05 PM

From the likes of us LL's Kilo Charlie!

From: Franklin I 03 March 2021 14:56 PM

As LL's switch from individual BTL ownership/mortgages and start trending towards Limited Company mortgages, they decide to increase the tax on that one, from 19% to 25% by 2023. I've no doubt, that by 2023 they'll increase that from 25% again!

From: Franklin I 03 March 2021 14:54 PM

Sometimes, you have the option of handing over the property to the council, even with the £10,000 grant. Inventory checks are done, and the council will be responsible for any repairs or damages. The rent will normally be slightly less in these circumstances. Some councils have been known to offer LL's up to £4,500 just for taking a tenant from the council list.

From: Franklin I 27 February 2021 17:22 PM

This is a serious human rights breach. Whilst we may complain about LL's Licensing, it is solely to prevent Rogue LLs like these from causing death by negligence to their tenant's. It's for these reasons, we now have to provide valud up to date NICR certificates on each Tenancy Renewal. This is a good thing for tenants and good LL's will always comply for the purpose of reassuring tenant/s that they're living in a safe environment!

From: Franklin I 24 February 2021 06:37 AM

We do an excellent job on convicting Rogue Landlord's, but the Rogue Estate Agent's continue to get away with murder!

From: Franklin I 24 February 2021 06:23 AM

This Estates Angency industry needs a serious overhaul in terms of regulation. It is riddled with corruption, scams and schemes!

From: Franklin I 24 February 2021 06:20 AM

And the Estate Agent's are innocent of these crimes?

From: Franklin I 24 February 2021 06:18 AM

Profit from income, is profit from income. All of which, is tax deductible. There are no exemptions and whoever things otherwise, is totally naive and needs to seek urgent financial advice before it's too late!

From: Franklin I 16 February 2021 12:36 PM

The fact that a tenant is looking for a place to rent on Craigslist, rather than Right Moves, Zoopla, On The Market, Primelocation or any other reputable lettings agent platform is an indication that they're also part of the problem. They're not exactly victims!! We have simple laws in place that protects tenant's rights from Rogue LL's. These are the same similar laws that protects our consumer rights for purchasing goods and services under section 75! These laws do not necessarily protect one from cash transactions, bitcoins or sexual favours as an exchange currency in return for goods/services provided outside of the norm. Whilst I don't condone the actions of these LL's, we must understand that a professionally referenced tenant can rent a property legally from any of us LL's and use the premises as a brothel or base for escort services. Who then becomes the victim in this scenario? If Peter Kyle wishes to enforce laws on these practices, is Peter Kyle going to include the existing commercial LL's in Soho, London’s W1 area? Whilst these PRS LL's are being made to look like Pimps, of some sort, imposing 3% stamp duty, removing LL's tax relief, adding Landlord's Licensing, Tenant's Fee Act 2019 etc is a form of legalised pimping at the expense of LL's!

From: Franklin I 05 January 2021 03:18 AM

If you're a good LL, this app shouldn't be an issue. However, if you’re a rogue LL then this app will be a dream for all tenants and a nightmare for you!

From: Franklin I 11 December 2020 03:44 AM

In all honesty John, I think most of the rogue Landlord's are oblivious to these guidelines, hence the reason why they get hefty fines! Ignorance is a disease, education is the cure! Some people choose to live and learn the hard way!

From: Franklin I 10 December 2020 16:14 PM

In reference to the above heading 'Gas boilers may be next problem issue hitting landlords'. This is more related to an EPC rating, so if by 2021, it would be illegal for a Landlord to have a rating higher than an 'E' and by 2025 a rating higher than a 'C', it would be in our best interest to consider the long term options of government grants for Air Source Heat Pumps as an alternative to replacing gas boilers which are less energy efficient!

From: Franklin I 10 December 2020 14:24 PM

I wouldn't call these type of people LL's Sandra. They're just a bunch of cowboys who believe that in their own fantasy world, they're smarter than the system. This will send a message out to all those rogue "cowboys" giving us a bad name.

From: Franklin I 29 November 2020 12:41 PM

In short, the moral of the story, is that if you can't take the heat, get out of the kitchen! Yes, I agree with you, in the sense that we as LL's have been hit extremely hard. The Tenancy fee ban in June 2019, was one example in which we were forced to comply and refund a weeks rent to our tenant's. The increase in stamp duty for BTL investors plus the additional charge as a second home, was another blow. The only problem I had with the Tenancy fee ban, was that it should've been entitled, "The Estate Agency's Fee Ban", as I don't know any LL who charges these fees directly to a tenant. The Estate Agency's profited from these fee's and not the LL. In addition to all of that, I'm aware of the scrapping of tax relief, the new EPC ratings for LL that have to be met in March 2021. I hear your comments, and based on all of the above HMO comments, I'd consider Airbnb to offset any losses, subject to mortgage approval/council approval etc.

From: Franklin I 28 November 2020 21:56 PM

I don't see why a LL would try and evade paying for a L/Licensing Certificate. Once the council authorises it, it becomes statutory and mandatory law. Assuming that you were applying for a S21, you'll have to provide proof of EPC, How To Rent Guide, Landlord's Gas Safety Certificate (If applicable), Tenant's Deposit Protection Certificate/Prescribed Information, EICR Certificate, Landlord's Licensing Certificate (If applicable to your Borough) etc etc. All your basically saying to any respectable tenant, is that your a fit and proper person, and your rental home has a valid MOT certificate in the form of a Landlord's Licensing Certificate. Lastly, a £2,500 fine is small change to Judith Korkar Odompleh, 64, of Sunningdale Avenue in Barking, who was fined £40,000 (FORTY THOUSAND POUNDS), for failing to apply for a Landlord's Licensing Certificate. Maybe the council should've included Landlady's Licensing Certificate as she may have thought she was exempt!

From: Franklin I 28 November 2020 18:24 PM

Lets of 12 months payment in advance works well with company let's. I'm unsure how this business model will work with the average tenant. For example. A 2 bed flat in London (not zone 1-2) rents for £1,500/month @ £18,000 per annum. Who is actually funding the advance payment? Will the tenants AST Agreement have a break clause? If so, then who would be responsible for the shortfall halfway through a 12 month contract? A lot of questions needs to be asked. Whist it may sound good, is it too good to be true!

From: Franklin I 20 November 2020 14:45 PM

More woes for the tenant's when getting credit scored then! Just like having a "Pay Day Loan" search on your credit file, this will only do more damage in the long term for a tenant seeking to rent in the future.

From: Franklin I 08 October 2020 12:40 PM

Extremely light. I've seen £40,00 + fines, for flouting the Landlord's Licensing Laws.

From: Franklin I 03 October 2020 19:55 PM

If you're a good landlord, you'll not have a problem with tenants legislation. Every landlord should be transparent at every stage when adhering to requirements of their tenants. If you're a member of NLA or RLA, let the tenants know. If the government has made a recent announcement on tenant fee bans from 6 weeks to 5 weeks, then notify your tenants inadvance and refund the difference back from their initial deposit.

From: Franklin I 17 July 2019 09:40 AM

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