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Saul Smart

Proprietor

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About Me

Portfolio landlord

my expertise in the industry

Been around since 1991 building a successful portfolio from scratch

Saul's Recent Activity

Thats been my feeling entirely throughout the last couple of years this 'debarcle' started. No measures until the epc, gives sufficient detail, is fit for purpose and of course until it becomes law- let's not allow our short memories to foget this government is one of bluster and u turns. In preparation though I have however sold a number of my properties (im sorry to add to the rental demand crisis but after 30 years of being a portfolio lanlord I need to protect myself). Government policy proving successful in the housing crisis again eh??

From: Saul Smart 14 June 2022 09:12 AM

@ Jo Westlake. Your third paragraph is the whole point of why repealing section 21 is not necessary. In 30 years of letting and a 40 property portfolio I have never evicted a tenant for 'no reason'- there has always been a reason and I have still paid a heavy price. It just doesn't make sense. It costs money to turn the property over and is a great deal of hassle I can do without. Why can everyone else with any degree of commonsense see this and the loony politicians and antti landlord brigade can't?

From: Saul Smart 21 May 2022 07:58 AM

I totally agree with the points you have both made and it is why I made the decision to do nothing until I 'know where the goalposts are'. Normally when new measures are introduced I like to be ahead of the game but on this one it's impossible.

From: Saul Smart 13 May 2022 12:42 PM

You have taken the words right out of my mouth! The 'powers that be' create problems that didn't exist and then complain about the unintended yet predictable consequences! Anyone remember 'Thats Life' with esther rantzen? The last 7 years of letting is something that could be featured in the programmes final 'unbelievable but true' story!

From: Saul Smart 14 April 2022 11:22 AM

In my 30 years of being in the business I have NEVER let any of my properties on a 'first come first served basis' and none of the landlords I am associated with has either-as is being put forward. I have always had a brief telephone interview with them before I even agree to a viewing. Hear the answers, read between the lines both at pre viewing and after viewing, then make a decision over the next few days as to who would be most suited and to stay long term- I hate short termers.

From: Saul Smart 14 April 2022 11:14 AM

I'm fully in agreement with you and the other respondent to your contribution. I had been pouring hours of time and worry into the existing EPCs on my portfolio to work out how I can achieve a C financially in the timescale since it first was raised in 2020- I have lots of 1910 builds. My wife convinced me to standback and wait. No point in throwing money in now- it doesn't even count to your 10k cap at this point. The epc system isn't fit for purpose and this is the government of ever changing goalposts and u turns so who knows. My way is to be ahead of the game by nature but on this it's a sit back and wait. Apart from selling a few that is- which is more to do with the overall landlord assault than specifically EPC. 30 years in the business and 48 properties- time to drop a few- I'm tired of the gov assaults

From: Saul Smart 04 March 2022 11:02 AM

Yes I have also looked at becoming a DEA. Not that I particularly want to run it as a business, but I see it as a small investment so I can actually see the details that are pertinent to whether I can upgrade my portfolio sensibly priced or sell. I have a lot of Victorian terraces on my books. As someone else commented 'how come we always start with digging up concrete floors?' Costs multi thousands and gains about 2 points. Hardly a game changer. Same with solar thermal hot water. And have you noticed the new .gov epc register doesn't actually tell you the points for each measure anymore? Just a summary of all the limited measures they put forward? Glad I've got paper copies of the old format on file! It really seemsxas if they want to make it harder to improve not easier.

From: Saul Smart 08 February 2022 14:13 PM

I'm with you completely, but could I just add that my understanding is that is not for ALL landlords. It is for the PRS only. Then look at the stats- out of all rentals the PRS makes up 20% and the social sector the remaining 80%. So if you choose to differentiate between hitting all landlords then why not start with the 80%- isn't that just simple logical reasoning that that is going to have the most significant impact. For those that haven't already, it's time to 'wake up and smell the coffee' that the government has been looking to diminish/ finish off the PRS for many years. This approach just helps them achieve their objective. It's really as simple as that.

From: Saul Smart 12 January 2022 10:11 AM

Pity the NRLA don't do much at all to support their paying members at all. We were sold out by them years ago in favour of their money making training courses etc. Not so much a representative organisation anymore as a for profit money spinning organisation

From: Saul Smart 24 December 2021 17:55 PM

Been in the process of selling loads of mine recently over the short to medium term regardless of interest rates- as I'm sure many others are- but the interest rate thing might be the proverbial straw for many others who weren't. Been in the business since 1991 before the term BTL even existed and built a substantial portfolio. But todays PRS bears no resemblance to the commonsense and fairer times we had back then- tho it wasn't perfect- no rose tinted glasses here. But remember a straightforward S21 without strings, no DPS, no EPC's, no punitive income taxes, licensing , fines and tenants that didn't either blatantly or latently hate you because of the media lies and vilification we now suffer as being rogues and fat cats? And thats just to name but a few things off the top of my head. New epc requirements and getting rid of gas looming tipped me over the edge. I thought I was in it for life even toughing out the cr*p- hardcore style but enough. Shame selling now isn't like before though- remember taper relief on your cgt that ran on a sliding scale from 5- 10 years? And reasonable cgt in first place? Same gov that asked us to pick up the housing batton is now smashing us round the head with it. Enough. Just the building up over 30 years is going to take a while to dismantle again!

From: Saul Smart 17 December 2021 19:41 PM

I agree with your sentiments in not swapping to a heat pump and your general observations. I'm avoiding them like the plague but with other objections as well as yours. But I don't understand why your heat pump won't supply hot water?? You wouldn't have to retain a boiler though- a cylinder with immersion heater would sort your hot water needs- and it is this cylinder that the heatpump should service in the first place though. Yes heat pumps are a form of 'low temp' heating- your rads wont get as warm as from your gas boiler so rad sizes need to be looked at and upsized for any given room (unless they just happen to have been oversized in the first place).

From: Saul Smart 06 November 2021 16:27 PM

I concur with all the above. Its just a very basic commonsense concept that the powers that be cannot seem to grasp. I have been in this business since 1991. Longest serving tenant 17 years- gone into supported housing a few years ago through age and choice. Current longest in place tenant been in since 2005. More than a dozen tenants with me at moment that are at 12 and 13 years and lots of tenants with me presently at 5 and 6 years. These people have no fear for their security of tenure- pay the rent, look after the propertty and be right with me (including reporting issues asap so i can get them dealt with)- thats all I ask. I dont look to interfere in their lives or look to be their life coach. I have done a number of evictions over 30 years but this is when a tenant has become totally untenantlike and wont address it haven been given many opportunities (mainly not paying the rent, trashing the property and ducking me). I dont feel I have been unreasonable on that seeing as Im the one that ends up with all the grief of a multi thousand bill for repair and rent loss whilst these get rehoused with impunity. I've sold 2 properties- one to another landlord with tenants left in situ, and one when the tenants have vacated this year. Whenever a property turns over now I look at possibly selling. I've had enough basically so rationalizing down rather than a full exit. Doesn't help the rentsl supply/demand ratio and i sympathise but my hands been forced for self preservation. Justcanother example of the powers that be making situations they're looking to address worse as they have been very successful at over recent years

From: Saul Smart 04 November 2021 08:22 AM

Don't these statistics have a simple explanation? HMRC give an 'amnesty' for non-compliant landlords. In the first year they have a large take up and revenue is large as a lot want to 'come clean'. In subsequent years the non-compliant landlords are now compliant (to a larger degree -no system is perfect in any business sector), therefore we have less non compliant landlords 'putting their hands up' because the greater amount are now compliant. Therefore it would follow that the 'windfall' income rises that they have enjoyed won't be sustained? Isn't this as the television advertisement says 'Simples'? If I'm missing something im happy to be put right.

From: Saul Smart 22 July 2021 08:04 AM

All the comments and discussions re the value of how fabulous certain letting agents are is all fine and dandy and im glad for all of you that are in love with your agents . But correct me if I am wrong- I thought the original post was about wanting a certain level of information provided in advertisements?? I see one post so far addressing this and this is from a tenant (presumably) about how they view information in adverts. I would just simply like to know what information the bodies are looking for- there appears to be no mention of it in the OP as far as I can see?

From: Saul Smart 22 April 2021 18:37 PM

I'd personally avoid inviting the council into my properties period. Im sure many readers have similar views on trusting councils that only seem to want to work against us. If an owner wishes to gain assistance in such a way then there are plenty of charitable organisations out there operating in the same manner. They will fill your properties almost immediately (waiting list a mile long), support the tenant through the relocation, helping support the sorting of utilities to ensuring any UC is directed to the landlord (one of their big selling points is they can guarantee UC to landlord if its a claimant- which is most likely). However my very limited experiments of these organisations (them having approached me through my adverts) have found the organisations 'wanting' shall we say. Better to dig in and get on with it yourself than trying the seemingly easy route.

From: Saul Smart 01 March 2021 09:18 AM

I fully agree with the points in the article as in- too much too soon, the ability to shift old housing stock into a C from a D from an E takes very expensive measures such as solar pv, external or internal wall insulation etc costing multi £1000s per property (I've done some already and it ain't cheap!) Also agree- too much too soon when had hell on earth safely accessing properties over the last year for EICR requirements with covid- nightmare that isn't over yet with this 2nd massive covid peak. The funding for grants for energy performance measures is a joke and so far applications I put in in September haven't been 'vouchered' by the government yet. By the way have we forgotten about the white paper to outlaw gas boilers for heating by 2033? Thats a massive corker and needs to be factored in the epc planning now before taking any measures (landlords will need deep pockets!). So clarification on the whole package 'holistically' is necessary not a 'bit at a time' approach. In regard to the above comments I have found the same- in 28 years of landlording with 38 properties since the epc scheme came in (2007ish?) an epc has never been an issue asked for or raised by a tenant. However that still doesn't alter the fact we have to stop pumping megatons of carbon dioxide into the atmosphere for climate change and environmental reasons nothing to do with benefitting tenants heating costs. We have signed up to the Paris agreement which obligates us too. What we need is breathing space and a sensible timescale with proper assistance- like it or not these measures are necessary and at some point soon will go forward regardless of the arguments surrounding 'tenants don't care.' Sorry but thats the harsh reality

From: Saul Smart 21 January 2021 09:40 AM

Lets live in the real world please- in every trade and indeed in every walk of life you are going to find dishonourable people that want to take you for a ride and rip you off if they can get away with it. Lets not be naive

From: Saul Smart 13 January 2021 21:49 PM

All the electrical trades bodys do give regular onerous advice to their members on working in a covid safe manner. I know because as well as being a portfolio landlord I am a regustered sparks. But just like everything else it comes down to the individual. The government gives covid advice to the public but we all see the non compliance. Not sure why you having a go at an organisation thats trying to throw you a lifeline if like me you find your tenants wont allow access?

From: Saul Smart 13 January 2021 21:42 PM

I would agree with every single one of you but..... I seem to read daily in the media that buy to let is still booming?- which quite frankly astounds me!! Why anyone want to enter this 'poison chalice' business in the current climate astounds me??? If I wasn't trapped into my portfolio and my situation were different id be right outa here in a shot. Been in the business 30 years providing a quality service that has been appreciated by 100s, but the daily beatings dolled out by the government, media and authorities are out of control. As it is I've got no choice but to take the daily kick in the b*llocks.

From: Saul Smart 22 December 2020 11:13 AM

To be honest I can't see why we landlords are getting so steamed up about this issue over and over and over again. Don't want to let to dss? Fine no problem. Just dont put 'no dss' in your advert. You then waste a bit more of your time (as well as the unfortunate applicant that has no idea they're a non starter) viewing someone who you know you're not going to give it to along with others you will consider. Dss applicants just get told 'sorry you were unfortunate on this occasion'. Nobody is asking us to justify our decisions when we agree a let as far as I'm aware? We got far bigger things to worry about than this seriously. Let shelter and co believe they have won a battle when actually nothing has changed. Simples! Now time to move on.

From: Saul Smart 21 December 2020 13:04 PM

I'd love to cancel my NRLA membership. Have wanted to for years, maybe jump ship to the RLA but decided they were no better. Of course now we don't have any choices. As much as it pains me I have to admit as poor as they may be its better to be in than out. Just in the same way that as much as I now hate the Conservatives selling us out and despise them I will still vote for them rather than Labour.

From: Saul Smart 04 December 2020 16:28 PM

So true. I have had my share of tenants ask for a 21. Not that we had any problems with each other or the house but sometimes as simple as falling out with neighbours and wanting to move but not having the funding or ability to find a prs property. Got a sec21 and the council moves them quicker than they could possibly do themselves.

From: Saul Smart 04 December 2020 16:23 PM

Not that many I would have thought. My experience is that the councils like to 'milk' their 'cash cows'. This involves recruiting tenants to 'dob in' their landlord even if their landlord is compliant- just in case. All my properties are licensed as required but no thanks to the council. Despite having worked with Nottingham council for 13 years and who are fully aware of my properties, my residential address and my email I didnt receive one communication informing me a licencing scheme was being put in place two years ago. I found out about it through the landlord news otherwise I could have been non compliant by ignorance-kerching for the council!! If I was into conspiracy theories i might be inclined to believe this is what they actually want- but of course I'm not that cynical...?

From: Saul Smart 27 November 2020 17:26 PM

Well I'm in agreement with Mark 100%. Having been in this business since 1990 I can say yes the easy money has been made. It was comparatively easy back then after the Housing Act 1988. Virtually no aggrivation, grateful tenants who had respect, the rent was always paid, my proprties being trashed was unheard of for ten years until my first incident. House prices rose, we had taper relief on CGT and no extrernal grief from the government or the other anti landlord bodies and media that have created an 'adversarial' landlord/tenant relationship that didnt exist intil they waided in. Easy money- relatvely speaking and I look back fondly to those long gone days and wished id exited the business in 2007 at the top of the market and prior to our demonisation. Now- regularly trashed properties that cost well over 10k to put right when arrears taken into account, ars*hole attitude tenants and we all know the rest. Yes comparatively easy money was made. Now its just bloody hard work, daily stress and grief in my experience.

From: Saul Smart 08 October 2020 10:30 AM

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