Just Do It

 

Newsletter No: 6 - 17th September 2001

Non payment of rent:

If any of you have any horror stories concerning non payment of rent, we would like to hear them.  We are currently putting together an article which we hope will assist you in getting your property back.  We realise that it can be a long drawn out affair and we have also come across one or two landlords who have gone about things in completely the wrong manner.  You must follow the book when a tenant is either late paying the rent or does not pay at all.  As you can appreciate this topic will be welcome by many a landlord, current and future, so please contribute - no names will be mentioned I hasten to add, but you could help us help landlords escape the trap!

Advertising your property with us:

As mentioned previously, our tenants site is getting more and more popular - www.lettings-tenants.co.uk with tenants who are not particularly keen to pay some exhorbitant fees charged by some agencies.  They are also realising that we can provide them with a wide range of properties from all over the particular area they are looking in.  To this end we are keen to establish more properties to advertise to keep the tenants coming back for more!  It is a simple method, you e-mail us the details of your property and we will place a small advertisement on the tenants site with your e-mail address.  Then when a tenant wishes to view your property they can e-mail you or if you supply a telephone number, they can call you - a bit like the corner shop advertisements but covering a far greater area.  However, I must point out that I would not rely completely on this site to find you a tenant - yes, I know I should have a little more faith in a site that I have designed and run, but until we get the financing to start advertising throughout the country bit by bit, I can truthfully say that it is going to take a while yet to get the volume of tenants coming through to ensure there are enquiries about your property.  Alas though until the landlords start giving us more and more properties and the word starts to spread through the rings of tenants it will take a while to get off the ground - but please spare a minute to fill in the details at www.do-it.org.uk/advertising.htm 

Lettings market down turn?

In light of the current financial situation throughout the world, it is possible that there may be a down turn in tenants looking to rent property.  However, despite these rumours we suggest that you hang fast and that there will always be people looking to rent property no matter where you are.  You have to ensure that your property is in excellent condition and is good value for money.  As part of our investment club, we are searching for properties that fall into this category and whilst there may be a down turn, it will not last forever.  Besides it could also be a good time to snap up some bargains and sit on them until the market perks up.  Realising that the lettings market can be split into many different segments, we are currently less dependent on the corporate market and more dependent on the student market and the market for first time jobbers!  This is always a fairly sound bet!

But do not panic, monitor your tenants payments and you should be able to see if they are starting to struggle.  As with many companies that we deal with on behalf of landlords, we monitor the payment of rent.  If they have always paid within 14 days of a rent demand there is rarely a problem.  If they start to take longer and longer one has to be wary and it could be in yur best interests to give them a ring to check that everything is okay. Admittedly they are unlikely to tell you that the company is in financial straits, but they may hint that they would be obliged if you were a little lenient on the rental payment.  They may even suggest that a compromise could be met and they would really like to pull the tenant out of the property altogether and that they will give you a bit of compensation for your troubles - it has been known - watch carefully, but at no time hassle them or become impatient - this could lead to more than you bargained for.  Remember also that your property should be viewed as a long term investment and these can go down as well as up.

Investment Club:

As stated above, this really is quite an exciting time to start thinking about putting some disposable income to one side with a view to creating an investment portfolio as a pension etc.  Repossessions are starting to come back to haunt us and they can be snapped up at quite a bargain.  I believe that we have discovered the best way to get hold of property with a minimum of risk - we all club together with small amounts that we can afford.  To this end we have a minimum stake of 500.  However, with a little encouragement from quite a lot of you we have decided to lower this to 100.00.  All you have to do is pledge this amount to us and when we have a property we want to purchase on behalf of our landlords, we will circulate the details and those who want to see the property can do so and those of you who want to be a part of the investment can do so as well.  Read more at www.do-it.org.uk/investmentclub.htm

Developers Club:

An outstanding success this one - no sooner do we get given a property than we are able to sell it on to someone who wants to turn it into an investment.  Hence why there is so little being advertised.  Anyone who wants to be sent details about development projects should e-mail us with their registration form and we will include them on our mailing list.  bsltd@do-it.org.uk

Shares:

Not shares as such - more of a partnership.  For 1.00 you will be given 1 unit.  1 unit = 1 unit of the profits on an annual basis - (may not be a profit in the short term!).  Worth a shot, even for 1.00.  Beats the lottery!

New York:

As stated previously, we have landlords all over the world including no fewer than 5 in New York - to all those I hope you get this e-mail purely from a compassionate view - I forward all our thoughts and best wishes to you all.

More articles:

Please forward ideas that you would like to be written about - concerning the lettings market, legalities etc and we will do our best to comply.  bsltd@do-it.org.uk

Mortgages and loans:

Your home is at risk if you fail to keep up repayments of a mortgage or other loan secured on your property.  I am pleased to say that to date since we started introducing this mortgage company to you all we have been instrumental in getting finance for our landlords which amounts to in excess of 500,000.  Not bad for a couple of weeks!  We shall have a huge party for you all when we reach the 50,000,000 mark, that I can promise you.

Property Auction News:

This is a splendid newsletter sent out to it's members by our friends at booksender.com It is full of advice, meetings, do's and don'ts and with a bundle of useful contacts it really is a must for all of you who are interested in property auctions.  Go to booksender.com and you will be delighted with the publication.

Contractors:

This part of the site is growing and thanks to all of you who have supplied names and addresses of contractors who have helped you.  We are desperately trying to get them listed but there are not nearly enough hours in the day.

 

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