Me versus My Reluctant Tenants

Property Sourcing Profits Podcast

From 1 June bailiffs are permitted to work again for private landlords and David explains his court proceedings with a reluctant tenant providing great information and advice for landlords

He highlights the importance of being all over your repairs and why following the procedure and ensuring you have the right paperwork in place is key.

This episode is a great opportunity to hear exactly how the process works and about the help that is available.

KEY TAKEAWAYS

• The judge has mandated due to the money arrears it’s not about the condition of the property.
• The duty solicitor did it by the book, checking everything from the dates to the procedure followed
• There was no evidence re the issues the tenant raised in the court on the day
• The solicitor was very professional and took an opinion on what was happening
• If any issues are raised at a hearing the judge will look at;

The value of the repairs

The value of the outstanding rent

Whether the value of the repairs would reduce the rent so it’s below two months outstanding.

• If you’ve got reluctant tenants follow the system
• The NRLA are very helpful and can provide legal advice

BEST MOMENTS

‘Make sure you are all over your repairs’

‘It’s a simple money order’

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

Property Investors podcast

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/