Category Archives for "Property Investing"

May 07

Is the LHA Allowance stopping you renting HMO’s to the less well-off?

By Matthew Moody | Property Investing

This is just a quick one as I only just saw this but there’s an online petition being put together to complain about the current state of the Local Housing Allowance and its impact upon both tenants and landlords.

Fancy renting out to a person receiving LHA only for them NOT to pay you?  I didn’t think so.

For the full details of the petition, take a look here:

http://landlordsactiongroup.blogspot.com/

Even Shelter are getting in on the act so watch this spare and lets see if anything is changed?

After having 4 tenants now go through LHA, I can say that I’m not impressed and as ALL of them have been late in paying, I’ve had to revert to getting the rent paid directly to me.  Had they had done this in the first place, we’d all have been better off.

Mar 20

HMO Plan launched in Belfast

By Matthew Moody | Property Investing

Short-sighted government ministers have launched a plan to limit HMO’s to 10% in most of Belfast and up to 30% in certain concentrated areas.

Rather than addressing the issues over why HMO’s are situated in the areas they are found; they are tackling the apparent endemic social issues over-spilling from HMO’s through a new planning regime.

The largest indication that points towards the fact that people are actually CHOOSING to live in HMO’s lies in note 3 to the editors:

“Lifestyle choice and increases in house prices have led to a significant increase in multiple occupation. It tends to occur in larger and older properties closer to the city, eg South Belfast. Students, young singles and migrant workers are attracted to this market.”

So why not work with landlords to provide BETTER quality accomodation, self-regulation and clearer guidelines upfront then manage it through a bureacratic planning regime that could end up decreasing the value of HMO’s – and making them even MORE difficult to secure finance on?

Mar 17

New HMO Expert podcast now out

By Matthew Moody | Property Investing

This is a great little podcast I recorded in December which somehow got lost on my hard-drive.

Ignoring the finance section (well at least the lenders who were still lending at the time) the rest of the podcast is still bang up-to-date and you can use all the other tactics here today.

I cover:

  • finance
  • rent-to-rent options
  • updates to HMO regulations
  • why accredition is good for you

Hope you enjoy – leave me a comment please 🙂

[audio:http://yourhmoexpert.com/wp-audio/Your%20HMO%20Expert%20Podcast%20121008.mp3]
Mar 17

“Not in my back yard” property investing

By Matthew Moody | Property Investing

There comes a time when people need to stand and be counted, yet often a lot of what seems to come across from the media is talk about how the vunerable in society are being used and that we should all stand against the vultures of capitalism.

A case in point merits further explanation on a place dear to many seasides visitors, Southend.

Apparently developers are moving in on large victorian houses which front the sea, trying to buy them and then converting them into flats or worse still – multiple-occupancy homes. (I clearly say that tongue in cheek as this blog is all about HMO’s and more!).

An MP bemoans a company that leaflet drops targetting these areas (one elderly gentleman threw his in the bin), a local says – why don’t they refurbish the high street and the office blocks that have been left standing – lets have a moratorium on new-buildings.

Alas, I fear that none of these folks in their misguided attempts to do “the right thing” fully understands the meaning of “not in my back yard” and here is where it shall be explained.

Not in my back yard actually stands for:

  • No progress
  • Idiotic decisions based on emotion or money; not fact nor reason
  • Many cooks poking their noses in, getting paid and moving on
  • Bureacratic planning laws impeding progress
  • Yesterday’s property left to rot whilst tomorrow’s property is yet to be dreamt up – at the expense of today’s property being under lock and key.

Everywhere you see it – whether it be a new block of flats, a neighbours garage, a schook, a runway or even a wind-farm.  The people that extoll the “not in my back yard” mantra are the people that are impacting the rest of society – not the other way around.

Harsh words perhaps but lets face the facts.

  • councils approve planning applications based on their own “local” plan.  This is often put together by “professionals” and “amateurs” who have no overall strategic overview over what they are agreeing too.
  • the grants offered to turn empty derelict buildings into modern tenanted buildings are infrequent and often poor.  And even if you do get them, they often come with many onerous terms and conditions which hampers, rather than helps.
  • the focus on a quick buck is always the media angle on this but why would a development company enter into a development that lost them money?  That just wouldn’t be good business sense.
  • the British-way seems to be more and more to be jealous, suspicious or plan envious at anybody who is running a successful business.  Why is that?  If somebody has taken massive action, then all credit to them.

So, lets all look to the future and work together to figure out what needs to be done at a local and national level to turn this once great country of ours, back into the bastion of civilization and respect that it used to be. 

Rather than “opposition” groups, lets have “co-operation” groups; rather than “not in my back yard” groups, lets have “change for the better” groups.