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Hi just a question , to see if other landlords/landladys have your own small office as I currently work for my husband at home in are small bedroom.
i have 6 btl and manage all myself through to arranging all paper work through residential landlord association.
i have to say it’s getting quite busy in my little room. Just wanted to ask if anyone else as a small office space and if so at want point did you move to a small office was it more than 10 houses.
also think it’s more professional for my husbands business if we have a small office, I think he might get bigger contracts.
found office space for just £200 pcm, with the house’s I feel it’s kind of hard having tenants coming to your house as I do all checks.
what are your thoughts
Yes I use one of my rooms for an office.I also make claim against tax for use. I never have the tenant come to my home
I arrange to meet them at their own abode or at the property they are interested in.
You could always build a garden room as your office if space allows at home?
I thought about renting office space but most of the time I wouldn't be there so thought it would be a waste. There are some people who feel the need to go to an office to get into work mode though, so whatever works for you.
Home is best if there is room and doesn't intrude too much on family life
And I got more than 10
Home working had a stigma attached to it 25 years ago - Dodgy business people thought
Nowadays that attitude has changed and people understand we are in a laptop / mobile phone age
People are a little envious if anything if you work from home
No travelling time or expense . No ice scraping the windows on the car
No shirt and tie - just a dressing gown
And Sky has a pause button when work interrupts your fave programme
Jonathan Clarke. http://www.buytoletmk.com
I think this sums up most what I like being a LL - you can be doing all the above at whatever time of day you like!
If you're JC you're probably up at 6am to start cracking the whip/drinking coffee/catching up on Sky TV ;->I don't like leaving the house to go to the properties until at least 10am when the frost etc. has gone.
Regus / WeWork etc. are the type of serviced office you're looking for, I used to use Regus and they did what it said on the tin !
At £200 PCM, You'll probably only get co-working space which doesn't solve your problem of meeting with tenants as you'd get a single desk in a room shared with a number of other small businesses, no privacy, to get self contained space, pricing normally starts from £600 PCM.
My longer term ambition personally is to buy a mixed use commercial freehold, then the rental income from the flats above will pay for my office in the shop front at street level.
I agree with Jonathan that as a landlord it doesn't really matter if you work from home, I only used Regus because I find I concentrate better in a different location i.e. I like home to be home and work to be work, separating the two allows me to switch off and relax better.
I have just moved into a serviced office, it is the best thing that I have done. I think it very much depends on your own circumstances and whether you feel you will gain something from it.
I have now developed multiple businesses. My main business is BTS, we than added our own BTL's. In the new year we also started our lettings agency and sourcing business. I personally found that working from home meant that the lines were too blurred. I had paperwork on the dining room table that the Mrs would just "move somewhere safe" and my business wasn't being treated like a business. 2 weeks ago I just made the decision and got on with it and have now completed my first week. I love it. I feel that I have structure to my life, I have a proper working routine and I feel like I am going to my job, rather than dropping the kids off at school and coming home and working from my living room chair or my dining room table. My business involves me meeting lots of clients. Before this it meant we met in coffee shops and cafe's, which although at the start was suitable it isn't a true reflection of my businesses and how they are developing. My dedicated work-space is large enough to have a couple of couches for meeting with clients, and we have already had 2 meetings in the last few days.
Personally, if you can spare the £200PCM then give it a go for 12 months. If you find it doesn't benefit you then you have lost a few quid this year. If you find that it makes you more productive and stops you working whilst the family are at home then you have achieved something.
I love my own space, it costs me £600PCM all in which is a huge chunk of change, but if it generates me an additional £50k this year with me having a better attitude then its a drop in the ocean. Worst case is that I go back to working from home in 12 months time. I have put the cost for the office to one side so do not have to worry about the fees for the rest of this year.
Hope this help, personally I say go for it!