TPP273: 6 Things Your Letting Agent Might Not Be Telling You

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.8 • 2K Ratings

🗓️ 7 June 2018

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

We came across this really interesting article at the very excellent landlordlawblog.co.uk and knew we had to talk about it. We can’t stress enough how important it is to have the right people in your team. The people who look after your building work, do your conveyancing and provide you with finance options. The people who manage the properties in your portfolio are no exception. There are some truly fantastic letting agents out there who do exceptional work. But this is the type of sector that attracts sharks and we want to make sure you know what to look out for, so you don’t get bitten. NEWS THIS WEEK This week we look at an article from propertywire.co.uk with the intriguing headline: “The value of flats have increased the most in the UK over last five years”. Has the time come to give up on houses and focus solely on flats? JOIN THE CONVERSATION OVER IN THE FORUM Share your stories with us - Join the conversation in the forum. IF YOU ENJOYED THE PROPERTY PODCAST, PLEASE LEAVE A REVIEW ON ITUNES Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hey Robbie here with Rob D and you are listening to the property podcast
0:05.8	It's episode 273 and this week we're going to look at six things that your
0:10.5	letting agent may not be telling you.
0:13.0	I promise you that everyone who listens to this podcast at some point
0:16.8	be astonished at what they're going to hear today. Yes, welcome to the property podcast where every week property investors come together to be informed and inspired.
0:31.0	Now by listening to this podcast you are of course a fine
0:34.0	upstanding individual but it will not surprise you in the slightest to hear that
0:38.0	not everybody in the property industry is the same. We've talked about sharks in the property industry in the past and one area
0:44.8	where lots of those sharks are swimming are in Letting Agency. The right agent can make your
0:48.9	investing life a breeze. The wrong one can cause you all manner of trouble.
0:52.8	Today we're going to open your eyes to some very dodgy practices and we're going to help you to avoid them.
0:57.8	Okay a new story this week comes from Property Wire and it's going to help us put to bed a really
1:03.4	prominent property myth. So the headline is the value of flats have increased
1:07.2	the most in the UK over the last five years by which it means have increased
1:10.4	more than houses and it goes on to say that over the last five years
1:13.4	flats have increased in value by 48% compared to 39% for all properties as a whole.
1:19.6	So everybody comes out ahead but flats have done better. They certainly have and there's probably reason behind that.
1:25.9	Where do flats get built right now? Well they get built in city centres and during this part of the cycle
1:32.1	cities and city centres are doing better.
1:34.8	The data shows us that and because apartments tend to be built in city centres
1:39.0	they are doing really well.
1:40.4	Also another point to bear in mind is that outside of city centers not many developers are building
	...

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