Tuesday, February 25, 2014

Lost Keys - Where's that key?



How often do you lose a key or hear of somebody locked out of a car, hotel bedroom, conference room or their own house. I've had two tenants in my block of flats locked out, somebody locked out nearly every time I go to a large conference hotel. Gym locker room keys cause constant trouble with forgotten numbers, or lost keys.  
   Many hotels have a system where the key is kept near the door of a hotel bedroom. In fire or darkness, as your right hand reaches for the door handle - (to check it's not hot - meaning fire outside - go back towards window) your left hand reaches to brace yourself against the wall and grab the key. If your escape is blocked, there's smoke, or unknown persons outside, you might need to get back in. You can also see at a glance whether you have the key before allowing the door to slam shut behind you!
   My dream is to have every key in my own house and my own family properties with a hook by each window and door and a neatly labelled and colour coded key.
   Two sets of keys in your own house is enough to cause confusion - the back door and the front door - then the shed and side gate. Add on your rental property set of keys.
   Then the sets of spare keys you take to copy. Best to copy the original, not the copy.
    Label each set, one, two, three. Then if you are missing a set you know whether you or the tenant lost it. You know to phone them, or search your own bags and pockets, or your colleague's car or desk.

DATE AND NUMBER ORDER
   You may wish to not have the address of the keys on the keys in case they are dropped in the street. Another solution is to follow the photographer's system. Label each key (or photo) with the number of the date it was made or acquired. Keep this master list in a big hard-backed book. (If necessary photocopy a page.) Then each key has simply a date or number on it. If a key turns up under a car seat or in a pocket years later, the clue is in the date. That must be the flat we lived in during such and such a year.

COLOURS
   Another system is to colour code each property's keys. You cn buy sets of colours to fit over some Yale keys. And coloured key or suitcase tags.  For example: The green keys are your house and garden. The red keys are the first rental property. The blue keys are the third property.
   You can even tell a child, can you see a key with a blue label anywhere in the house? With dozens of sets of keys and a child or foreigner, the colour system could be faster than trying to describe a bunch with a a Yale or Chubb lock when you have several.

LABELLED HOOKS
   Another system for keys kept in an office, as opposed to jumbled in your pocket or bag, is to label the hooks. For example, front door key on far right, back door in centre, garage or gate or postbox or shed key is always on the far left.

HOOKS NEAR PATIO DOORS & WINDOWS
   To escape a fire in less than five minutes in an emergency, you don't want to have to go into the hall in the dark looking for the keys to the patio door. Police and security services may suggest it's safer not to leave keys visible in doors. The reason is that a person outside can break the glass and then unlock the door with the handy key. or a person sneaking in through the front can sneak out of the back.
   However, to escape in a fire, and not have to hunt through a  dozen keys in the dark, it's good to have vital keys near the door or window. One solution is to have them on a hook near the door, hidden from outside view by whatever object is nearby, but visible or known to everybody likely to live in the house, sleep over or babysit.

PHOTOS OF KEYS
   Take a photo of the keys. Then, if you are missing a key and your colleague has several, you can email the picture and ask, 'This is what I'm missing - have you got it?'

   If your tenant/colleague rings to say the key won't operate the lock, you can email the photo and ask, 'Are you sure you are using the building key and not the flat's front/back door key?'

CABINETS & Their Keys
You can tape a key to the cabinet. The duplicate key can be kept by somebody else at another address - labelled.

CABINETS STORING KEYS
   On line and in stores you can find key cabinets, and shelves with hooks below. You have to decide whether your priority is to hide the keys or make them easily visible and 'a place for everything and everything in its place'.



KEYS FOR CLEANERS/GARDENERS
  A company called Rottner makes key boxes for keys for cleaners and carers. The key is never taken off the premises, so it can't disappear if the person using it changes jobs, falls ill, goes away on business or holiday, but it is replaced every time for the owner or the next cleaner/carer. If you are using a key box for which the only access is via a code, the code can be changed regularly and given to the user on the day they need it.

These are simply my ideas. If safety suggests otherwise, or you have better ideas, I'd be glad to know. This information is simply so that you can assess the problem and find your own best solution for safety, security and convenience.
Useful websites

Confirm rates in writing at moment of agreement




As a landlord you agree a good rate with an agent. He promises to agree in writing. By the time you drive home you and your colleague can't agree on which rate you agreed. Two days later You are negotiating with two other agents. By this time you can't be sure what you agreed with the first agent, nor that he won't change his mind or forget.
   One solution is to text your colleague and copy the agent, or vice versa, immediately.
If there's any disagreement, they must get back to you at once.

Monday, February 24, 2014

Helping agents help you



Should the letting agent also manage the property? Do you live nearby? Do you want to be called out in the evening and weekends? Is the property of sentimental value? How's your budget?
   How much should they charge? Just the letting fee? For the year one only? For years one to three?
How much are they doing for you? Are they charging an annual fee with unlimited callouts covered? Or a maximum of three callouts? Or three per month - average. Or three in any one month? Or a management fee just for adding your name to their list and doing nothing, then a fee for every callout?

How much should you pay?
   10% 8% 6%. Nothing when the contract is renewed? The same charge every year? Or half for the second year. Another landlord might complain - 'what for - they have done no more work!'
Are they charging for renewal and also charging charge for renegotiating the contract? On the other hand you have a second year's rental, no hassle. Half the first year's fee. Compare with other agents. Negotiate.
   Is the money to the agent spread over the months, or do they take the first month's rent? Can you afford this - first month with no rent. How's your cash flow? What if the tenant moves out after two months and the agency goes out of business?

Should you give your keys to the letting agent?
   Is it safe to do so? How easy will it be to get a key back, if they are not managing or another agent lets the property. (With one agent still holding a key, you might need to have the lock changed and only get two new sets of keys, for about £150 - plus the cost of every extra set off keys. What does the insurance company say? Will the building insurance or management association allow various tenants to have keys. One agent will complain that the first agent would not give them the key, with the reason/excuse that their member of staff was out for the day showing tenants around properties.
More answers soon!

Useful Websites
https://www.propertymark.co.uk/

Clearing and Cleaning Your/Their Flat/House For New Tenants - Ten tips



Clearing a flat - now is your chance to repaint without the nuisance of moving furniture. (Some decorators and carpet layers refuse to move furniture or will move only three items.) It also reduced the risk of damage if you paint a room with no furniture, then put down fresh carpet.
    If the carpet is old, you can clean to remove stains and carpet beetles or insects which might infect furniture. Dust, get in the corners, remove mould. Paint with mould-resistant paint, allow the paint smell to disappear.
   Before or after this you may need to remove your own or the previous tenants' leftovers. Dust the tops of high shelves and cupboards. Down comes dust (which otherwise upsets your skin, or lands on new paint). You may find small items, CDs, packaging, rolled up posters, items you'd lost or forgotten. Also look behind shelves, bookcases, sideboards. Out come lost bills, library tickets, Xmas cards and more.
   Check wardrobes and cupboards. Identify screws and tubes. Save them. A day later you'll notice the loose shelf and wish you still had that bracket and screw you found on the floor and chucked out.
   Check behind, beside, and inside in all the white goods. The bathroom cabinet will have old toothbrushes and q-tips. The tumbler and washing machine are hiding the odd socks.
   I've lived overseas, moving there and back. Even with professional packers items get left behind - such as the post in the postbox, the washing in the washing machine.
    Inside the washing machine and tumbler are old clothes which started dirty, or went mouldy because they were left damp. The dishwasher may have dirty items starting to smell. Or clean ones - the fourth, sixth or tenth or twelfth item missing from the set of cups or plates or cutlery.
   If there's a postbox, check that. Oops - council tax. That's for you.
Departed tenants' medical records - your local doctor in the UK is still claiming the NHS payment for the year and maybe turning away new patients, whilst your ex tenant has missed the call for a checkup or who knows what vital test result.  Tesco card coupons, Xmas catalogues, National Trust membership, and vital bank statement, bills, court demands, unknown documents, labelled urgent, which you must return to sender because you are not allowed to open them.
    Before throwing away packing, check boxes for guarantees, and proof of delivery and proof purchase for tax.
    Finally empty the fridge of the milk you took for your tea and coffee while waiting for the removal men or the letting agent.
   And the fridge! You need a cool bag to transport all frozen food. And it keeps open bottles away from your Or time to dump unwanted or defrosted items in bins as you leave.
   When you reach your destination unpack as soon as you can. otherwise 24 hours later you find wilted plants, milk going sour, frozen food which must be eaten now and can't be re-frozen.

Tips
1 The size of items you need to transport mysteriously doubles.
2 The van your hire or borrow is dirty so everything must be covered.
3 If you life anything from the top, the top comes off, or the bottom falls off. The bottom breaks. (We carried a simple white painted board bookshelf, base, middle, top. The top came off, fell and broke.)
4 Plastic bags are shredded by anything with a corner - even a lightweight half empty box of Cling film.
5 Large sheets of thin card, bubble wrap, or blankets or car rugs are needed to protect large items such as mirrors, posters.
6 Boxes not needed for the original items will be handy for grouping other items.
7 Keep a large clipboard with vital information such as the address you are going to.
8 Check you have all keys before going to destination. This includes: Key to the building's communal front door. Yale key to the front door.  Key to the other Chubb or mortice dead bolt lock - even if you don't usually use it because somebody else such as your work colleague, letting agent or tenant might have thought it wise to use the additional lock. Key/instructions to turn off the fire alarm you might set off as you open the door.
Key to the back door. Keys to windows. Keys to postboxes. Spare keys for the letting agent.
9 Phone number of letting agent / porter /neighbour, other keyholder in case you are locked out. Ideally vista your property during the keyholder's office hours in case of emergency and needing the spare key. If you are delayed in traffic, the other key holder can let in removal men, painters, new tenants, whoever.
10 Charger for your phone in case you stay longer than intended and need it.
Lastly, or firstly, light bulbs.
   Yes, I've arrived missing the vital key, seen my bookshelf split when carried, missed catching the china vase out of the car boot, broken the table lamp, and needed a ladder/chair to replace light bulbs ... 
   Yes, lastly light bulbs. Never mind being too thin or rich. You can never have too many light bulbs, except when you are short of the spare plastic bags, already packed, the chairs and ladder, already gone, the last light bulb goes pop, and hands full of surplus light bulbs,  you crash out through the front door ....

Why buy to let? Or keep inherited property to let?


How do you get the best income? If you can save, where do you put your savings?


Inherited property
 If you inherit a property, should you sell it and invest the money or keep it and rent it out.
   When your income from other sources is low or high, property is one of the options. If you have lots of money, you are advised to spread it in several directions so that you can minimise losses and maximise your chance of having some investment in the rising or jackpot area.
   My late father advised me to get out of property and put money in a building society or shares. His reasoning was that managing property is a nuisance. In his grandparents day you put your money into property to use the rents as a pension, even if you rented your own home. But during their lifetime my parents experienced various problems with property.
    However, when the banks and building societies are threatening to lose all your money and interest rates sink, property again seems a safer income or investment.