Search Results for: landlords selling
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Features
Picture this
Properties with good photos get the most attention, so isn’t it worth a little attention to detail to make your properties stand out? Marc Da Silva reports.
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Features
The pros and cons of going for IT
Selecting the right lettings software is harder than it sounds, says Nigel Lewis.
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Features
Regional round-up
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Kent, London and the Isle of Wight.
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Software
PropCo PropCo Software, which incorporates a range of leading features for letting, client accounting and property management, aims to reduce admin and stationary costs through eSignatures, secure online portals for landlords to access their property records and documentation, produce bespoke reports from rich data stored in client’s PropCo databases. What’s more, the software’s Core’s Client Accounting functionality is compliant with RICS NFOPP ARLA regulations and Bylaws, while there is a wide range of documents available, including tenancy agreements and legal notices. www.propco.co.uk Reapit Reapit provides a fully integrated ICAEW and NALS accredited RPS software solution across lettings, property management, client accounts and sales, o ffering a number of unique selling points, including its new Landlord Tracker; an online login area accessed through the agent’s website that allows landlords to view key information about their property or portfolio 24/7. This includes scheduled works orders, key documentation and accounts information. www.reapit.com Rentman Rentman letting, management and accounting PC and cloud-based software provides a wide selection of features. These include rent collection, management and let-only statements, record contractor details, monitor and track maintenance jobs, prompt agents to arrange or renew safety certifi cates, HMO licences and insurance premiums, instantly create and send job sheets. The software can also help landlords with their tax returns, issue legal notices, produce legally compliant AST agreements, instantly match applicants to properties, issue property details, track to let boards,…
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Associations & Bodies
Information, reputation, accreditation
Professional industry bodies support their members and act as a kitemark that gives the public peace of mind, as Marc Da Silva reports.
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Regulation & Law
Money laundering legislation – why you must comply
Jeremy Leaf FRICS, reviews the current regulation of estate agents and the need for change.
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Features
Quick guide to: Buy-to-let mortgages
BEST PERFORMING ASSET CLASS Buy-to-let has outperformed every other asset class for investors since lenders launched the first property investment mortgages 18 years ago, with Paragon Mortgages, a specialist landlord lender, revealing an average return on investment of 16 per cent a year during that time. Over the same time, yields from equities hit 6.8 per cent a year; bonds returned 6.5 per cent, and cash in the bank produced 4 per cent. The report also revealed that since 1996, banks, building societies and specialist lenders have agreed mortgages worth almost £175 billion against 1.5 million private rental homes. “Buy-to-let mortgages have become such an integral part of today’s mortgage market,” said Paragon Director, John Heron. With Paragon’s research also projecting that landlords will earn an average yield of around 11 per cent for the foreseeable future, it is easy to understand why so many people are now investing in buy-to-let. RETIREMENT INCOME Some 75 per cent of landlords now view their property as their pension, according to BDRC Continental, with separate research from buy-to-let specialist Platinum Property Partners showing that investors expect income from their rental properties to bolster their annual retirement income by an average of £19,785, or 56 per cent. “A…
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Guest Blogs
How good are you?
The first thing that I ask for when I carry out a business review or meet someone who is thinking of selling their business, is their key performance indicators. It amazes me how many businesses do not know them. Your KPIs can tell you at a glance how your business is doing and where there is the greatest potential for improvement. SALES For a residential sales business, the main KPIs are: The number of valuations Your market share The conversion of valuations to instructions The conversion of instructions to sales The fall through rate The average fee percentage The average selling price The profit margin Different businesses have very different problems. If you only get to see ten per cent of the properties that come to the market in your area, your problem is likely to be poor marketing. You need to look at your online and conventional marketing strategies and compare them to those of your competitors. In other businesses, the problem is a poor conversion ratio of valuations to instructions. If you only convert 20 per cent of your valuations to instructions, you need to review who does the pitches and how they sell the service. Another problem…
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Guest Blogs
So it’s time to sell your business
In my fifty years of business I have bought and sold a number of businesses but, even making the odd mistake along the way, the end result has been positive. There are a number of firms keen to buy in the residential sector if you want to sell your business, and there are even more businesses up for sale. It never ceases to amaze me that when someone decides to sell, they don’t work out the best way to go about it. I hope the following pointers based on a lifetime’s experience will help you prepare for a sale so that when you find a buyer, you are ready and the transaction will go ahead as planned. FIRST THINGS FIRST Now you have decided to sell, the first thing you need to decide on who is going to represent you with regards to the sale. You need an experienced firm of solicitors who are used to buying and selling businesses. The temptation is to go to the firm you have always used, but they hardly ever sell a business. House conveyance, wills, probate and down to earth family lawyers are excellent at what they do, but may not have a specialist…
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Latest property news
Business transfer
Preparing your business for a sale In an ideal world, you should start preparing your business for sale at least 18 months before you put it onto the market. Some simple changes can have a dramatic impact on the sale price that you achieve. For example, the profit that you declare during your last financial year will be a very important factor in determining the sale price. This can be increased by postponing capital expenditure, cutting costs and asking your accountant to prepare the audited accounts in a less tax-efficient way than usual. With a letting business, most buyers will pay more for recurring income than for one-off income. Consequently, persuading your landlords to switch from let-only contracts to management or rent collection contracts can have a significant impact on the price. Another thing that you might consider is transferring your lettings business into a separate limited company. This gives you the option to sell the lettings book and the sales business to different buyers and still qualify for the ten per cent entrepreneurs’ tax rate. However, under HMRC rules, this must be done at least 12 months before the sale. Finally, you need to check that your compliance is 100 per cent perfect. Missing documents, such as gas safety certificates, HMO licences, tenancy agreements or landlords’ signed terms and conditions, can spook a buyer and cost you…
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