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I had dinner last night with three other landlords who all own tens of property.
We all network together as we all work in the same Post Codes
we share info on bad Tenants by text message and we share thoughts on the BTL in general
Last nights meeting was really interesting we chatted about S24 and its impact and we also talked about company formation
Three out of the four have done the Landlord Shuffle
The general feeling is we are not purchasing more property at present and we are not selling either
we all plan to keep what we have and only buy if a very good high yielding purchase comes along with a yield over 7%
We intend to upgrade the property we own and attract a better customer who are working
The opinion on UC is low and we do not see it as a way forward in the coming years
we have all agreed not to take UC
Our feelings are that if we can give the Council a bigger problem with homeless folk
I would say between us we own around 750 dwellings in the Post code area
I find working with other Landlords works well it has such a lot of advantages
I would urge other Large Landlords to come together in small groups and network and build relations
This is not a formal arrangement its just friends who share the same interests and goals
I think we all depend on the likes of the NLA ect to do our bidding for us
But they have no power
The Power lies with Large Landlords working together in local areas
The council take notice of us and I we are happy to advise the council why we have the policy we have
This message will travel and maybe someone in Govt will realise we have power
To use a Union phrase UNITY IS STRENTH
so my advice is get to know your local landlords and work together
Don't do it formerly you don't need a group name you just need to talk and agree your own policy's
My own guess is larger landlords will become larger and we will have strength if only we channel it in the right direction
Next Mafia Meeting in three months time but we communicate by phone Text and write nothing down
especially when we reference Tenants
You can get a lot more info from a phone call than you can from a Email
we should not see each other as competitors we should see ourselves as friends who share there views and goals
Give it a try and its great meeting over a dinner table for a chat
we have more in common than we realise.
Learn Change and Adapt ?????
HI DL,I agree that networking is very valuable for landlords. One of the things I noticed with the young entrepreneurs that we interviewed this week, is that they were all excellent and natural networkers, having grown up in the digital age.When I started in property in 2004, the thought of networking off and on-line filled me with horror. I did not see the point in attending events and talking to people and I had to force myself to go.No, of course, you can't stop me! Related - Get into the networking groove in 2017! Networking?
Its realy good
we share project stories and rent strategy
Last night I showed the guys Two Projects I had done
Both we ex LHA homes and with a little bit of work how I had achieved 25% increase in rent above the LHA currant rate
Its really nitty gritty stuff which is missed at NLA meeting and I may add I am the only NLA Member there ???
The Tenant Referencing is powerful It has saved us all a lot of time and effort
Our views on UC were all the same we will keep what we have but are not taking LHA unless the tenant is a low paid worker on top ups
I know its going back to the old days before PCs ect but you cant beat meeting others who are renting in the same streets and have such simmer views
The key is keep it off the record and just talk
Your not breeching Data Protection ect and its uncomplicated
we don't need to reinvent the wheel we just need to use it Vanessa to our advantage
The Big NLA meeting just don't cover this sort of thing But we do
we even share names of council dept workers who are helpful and some who are not.
"""The key is keep it off the record and just talk
Your not breeching Data Protection ect and its uncomplicated"""
Aye, right. (Scots example of two positives making a negative).
DL: You've helpfully (to the authorities) provided evidence of you & your chums sharing data unlawfully: You must know the Police & other authorities have ways of getting 'phone records (where 'phone is, what 'phone numbers called, contents of TXTs sent...etc etc..). The mobile 'phone companies have specific suites of programs classified as "Police systems" just for those purposes. You've clearly laid out how you have breached DPA 1998.... "" we share info on bad Tenants by text message """. You've even helpfully described the group as "mafia meeting". And on a public, open to all, forum.
And if required PT would need to give up details of posters on these forums...
Unwise, perhaps. I'm sure the authorities are already alert to this - perhaps, to many - conspiracy.
Dunno about you guys but I wish to have law-abiding tenants of mine: And agents: Landlords blatantly ignoring the laws is a great way to encourage more cracking down on rogue landlords - and many would include law-breakers amongst the rogues: IMHO, wise, well done DS!
you are going over the top
We only share reference info when we talk
If MI5 ect wish to know what we are talking about they can come to our dinner party anytime as long as they pay for there dinner
we do not brake any laws in point of fact we follow them 100%
when we text each other we ask other landlords do you know this Tenant
if the other landlords know the tenant we ring each other and express a view
Its friendly chat with friends
and nothing more your reading a lot more into this than is required
If you were part of our group I am sure you would be grateful to any fellow landlord for info on a bad tenant
would you not
When I have a new Tenant I ask for the old landlords name and number so I can ring them is this not good practice.
Its good to talk . I`ve been talking for a long long time. I`m pretty much talked out these days
My list of landlords is about 200 that I`ve talked to.
My brain buzzes each time. You pick up a gem each time sometimes from the most unlikely source
But DL I`m not sure about calling it a Mafia Meeting! The Mafia is an organised crime syndicate
I think it sends out the wrong message to tenants and the public if you took off and more came along
If the press ran a story on you guys because of your influence collectively it might harm reputations
750 between you carries significant weight and you will have a significant voice
Im sure the intention is good but maybe pick another less controversial softer title
Also Data Protection Act is wide ranging . Check that out
You say off the record but there is no such thing really as off the record
Especially as you are a limited company now.
But keep talking - Much good will I`m sure come of that
Jonathan Clarke. http://www.buytoletmk.com
I think the things we talk about are quite minor
I am quite sure Boardrooms do very similar in large business but just not talked about
If it catches out bad tenants and saves a landlord grief its a job well done in my opinion
The title was eye catching and now its changed
I do feel we have strength in small groups and if more landlords did come together and show unity we may not be such easy targets for govt policy
I think it may be wrong if groups of landlords started rent fixing and that has never been mentioned.
The title has been modified to better reflect the subject matter.
general operations director (aka Colonel Nicaffi) - propertytribes.com
I am sorry for the title but it got attention
Its good to talk
Yea cannae polish a t***....
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