Last night Jim Haliburton was the guest speaker at the London pin monthly evening seminar. Instead of speaking about his usual favourite subject of HMO’s Jim shared with us his advice about “How to be a successful Landlord”.
Jim shared a wealth of information with us in his amusing presentation with only the occasional subtle references to his contempt for local authority bureaucracy. Jim is often controversial in his views but always entertaining and very knowledgeable.
After explaining some of the legal obligations of landlords, such as the new Energy Efficiency Certificates required on all rental properties by 1st October 2008, Jim made it very clear about his view on the tenancy deposit scheme and his approach of opting out by not taking a deposit, but instead charging a non refundable admin fee instead. More in his article here
There was a short debate about right of entry and I learnt that if the tenant refuses admission then there is nothing the landlord can do about it even if they have provided 24hrs notice. We learn something new every day.
After giving us a great tip on how to get cheaper landlord insurance and the different ways to evict bad tenants, Jim could not help but go on to mention HMOs and reminded us that properties with 5 or more tenants on 3 or more floors require mandatory licensing. This is actually a very simple process of completing the application forms and sending in a cheque and then waiting for the local authority to tell you what they want you to do. You will be given a certain amount of time to make required changes but the important thing is to make sure you apply in the first place.
Throughout the seminar Jim answered numerous questions from the audience of over 50 investors. In summary we all enjoyed an entertaining and informative seminar, so many thanks for that Jim.
Jim will be repeating this seminar at the pin meetings next month in Birmingham (Tuesday 15th July) and Manchester (Wednesday 16th July). We can also confirm that Jim will be back at our pin meeting later in the year sharing his practical advice about houses of multiple occupation.
Next month at the pin evening seminar in London, our guest speaker is Glen Callow who will explain how you can keep more of the money you earn through long term asset protection. This is critical for anyone who intends to own lots of property. You can reserve you place here now.