Dylan, our Bengal cat, has just posted his first guest blog, talking about cat-friendly holiday lets.
You can read about his holiday in Camber Sands >>> here. (I did try and cut and paste some of the blog, but it wouldn't copy over ... ). It featured some of these lovely piccies taken by Nick.
Caption: Dylan at Camber Sands.
I have now aggregated this blog via Facebook, Twitter, and various cat forums I am a member of.
Maybe it will generate new bookings, maybe not, but it took me literally 5 minutes to write, it's fun, it's memorable, it's different, and it remains on the web in perpetuity. Story telling on the social web is the best way to get people interested in your product or service so I hope you find this example thought provoking.
I've been speaking to a couple of business colleagues who I met on Property Tribes in the last few days and thought there was enough synergy to meet up and chat in person.
Both people said "Great idea". When I suggested that we put a date in the diary, they both said "Well, no need to make a diary date, just get in touch next time you are in the area".
I find that a bit strange to be honest.
Everything in business starts with a conversation. Meeting off-line is a way to strengthen relationships that have started on-line.
Are you having conversations? Are you making appointments to meet people?
By doing so, you are inviting serendipity into your life. This is one of the benefits of being the leader of a Property Tribes networking event or attending such networkings events. (But do make follow-up appointments with people you meet so that you can get to know them better, and develop those relationships).
Not every meeting will lead to a business transaction but that doesn't matter. It might lead to a business transaction in the future, a referral, or it might be nice just to chew the property cud over a cuppa. Property can be an insular business.
If you are not making appointments to meet with people, then why not? Perhaps you are worried they will try and sell you something, but we all know what happens when people make assumptions. :) Perhaps you will feel obligated if they travel to meet you and they will want something in return? Again, an assumption.
Thanks to a tip from landlady Angela Bryant, I signed up for "Notes from the Universe" - a little byte of inspiration that lands in my InBox every morning and gets my day off to a great start!.
My note today was:
There's always a price to be paid for doing, being, and having more, and it has little to do with working harder or knowing the "right" people.
In as few words as possible... "get out more."
As many of you know, we are fans of Seth Godin, the American thought leader.
Seth came up with the concept of the "purple cow" in business.
"Seth Godin says that the key to success is to find a way to stand out--to be the purple cow in a field of monochrome Holsteins. Godin himself may be the best example of how this theory works: The marketing expert is a demigod on the Web, a best-selling author, highly sought after lecturer, successful entrepreneur, respected pundit and high-profile blogger. He is uniquely respected for his understanding of the Internet, and his essays and opinions are widely read and quoted online and off." ~ Forbes.com.
I thought the tribe could work together to create "purple cow" touches for our holiday lets to help them stand out for the crowd.
Here are mine:
Fluffy towels Dressing Gowns Hairdryers Comfortable mattresses Hotel quality bed linen Tissues Molton Brown toiletries & handwash Beach games BBQ and fire pit Dogs allowed (doggy chew on arrival!) Welcome pack Using local produce and suppliers to support the local economy. Supporting local artisans Guide to local eateries & restaurants with discount vouchers Guide to the house (how to operate AV equipment etc) plus surrounding area and days out ideas. Tea, coffee, sauces, salt, pepper, Ribena included. Picnic basket Beach mattress Somewhere to hang wetsuits Books and mags for a rainy day Flatscreen TV, iPod docking station, surroundsound, DVD, Playstation and Games.
I just came across Walking Books on Twitter and thought these would be a nice addition. (Publisher and online retailer of a wide range of walking guides, maps and books on Britain's best scenic walks.)
Join the discussion and share more "purple cow" ideas on the Property Tribes forum >> here.
This post has been inspired by the comments on a recent blog about tenant referencing services. Some of them were extremely viscious, including one that said that tenants who do not pay their rent are "criminals".
Having been on the receiving end of delinquent tenants myself on several occassions, I am only too aware of the pain, hurt, and stress they cause by their actions. However, maybe I am a bit daft or something, but, rather than blame the tenants, I have looked to myself to take responsibilty.
You see, every time a tenant turned bad, it was someone who I had a bad "gut reaction" about or someone whose references did not satisfy me. I knew in my heart that something was "not quite right", but went ahead with the tenancy anyway. The only person I can blame in those cases is the person I see in the mirror.
As many people who have been in this game for a long time realise ... the best way to never have a bad tenant is never to let one set foot over the threshold of your property in the first place.
Landlordism is a "people" profession. Humans do not act how we want them to, we cannot control them, and they will do bad things that we struggle to understand. They are not robots who pay their rent on time and look after "your properties". If you are not prepared for that, then perhaps property investing is not for you? (For peace of mind, you could consider a service like Rent On Time, that pays the rent on time, every time, even if the tenant defaults).
When becoming a Landlord, be prepared to experience other sides of life, not your comfy existence where the world is all rosy and you can afford to purchase a property for your pension. Feel priveleged that you are in this position, but it is not a "right", and understand that you may encounter people who will not care about you or your property! Yes, really!
When it comes to dealing with people, it is never black/white in my experience. There always needs to be some degree of flexibility, putting yourself in someone else's shoes, and, dare I say it for fear of retribution .... compassion.
There is not one person reading this who has not experienced unfortunate curve balls thrown at us by life. My general rule is to treat people how I would like to be treated in the hope that this goodwill is passed on and comes back to me somewhere down the line. "There but for the grace of God" ... and all that.
So I have put together three actual situations from my Landlording career with three courses of action, and I would like to hear from the tribe how you would react. I will also give my answers at the bottom of the post as to what I did. You may not agree with me, and if not, that's fine. I'd love to hear your reasons why.
I would also like tribesters to add some of their own mulitple choice questions for others to consider.
Without listening and being open to new ideas, we are not learning, so I hope this could develop into a really valuable and balanced thread.
Here are my scenarios: 1. A professional family tenant has been in your property for three years, being a model family and paying the rent on time every time. Unfortunately, the husband is killed in a motorcycle accident. The wife and two children are left without a bread winner. They go into two month's arrears. Would you:
a) Serve notice on them. Report them to a tenant blacklist. Evict them in due course.
b) Go and meet with the wife. Help her understand how to apply for housing benefit. Help her understand the process of probate. Get her to agree to pay arrears when her husband's estate is settled and she is back on her feet.
c) Something else? Please state. 2. An excellent tenant has been in your property for two years, always paying rent on time. He splits up with his girlfriend, is suddenly made redundant from his high paying city job, and goes into a serious depression. He is American, and has no family, his parents having died 20 years previously. He stops paying the rent and stops communicating with you. He goes into two months arrears. Would you:
a) Serve notice on him. Report him to a tenant blacklist. Evict him asap.
b) Meet him at the property. Discuss his situation and advise him on claiming housing benefit. Agree a payment plan with him for the arrears to be paid when he gets another job. Advise him to seek medical help for his depression.
c) Something else? Please state. 3. A tenant takes your property on, pays the first month's rent, then stops paying. They refuse to communicate with you. Owing two month's rent, they then hand in their notice, and leave the property without paying the back rent. Would you:
a) Chase them via a debt collector & report them to a tenant black list.
b) Be grateful that you got your property back. Put it down to experience, learn from it, and focus on getting a new tenant.
c) Something else? Please state.
My answers are:
1. (b)
2. (b)
3. (b/c) I moved the property to Glenn Ackroyd's National Lettings Group due to their strict due diligence processes including rental guarantors for all tenants, and their superb systems for maintaining properties with an in-house team. I got a new tenant moving in within one week, who was happy with the condition of the property, even though, in my eyes it needed some minor refurbishment.
In 1 & 2, I got my money back through the payment plan. In 3, I lost about £500 and put it down to experience.
What would you do? Join the discussion on Property Tribes >>> here.
In this short video, Vanessa talks to Paul Pearce, Business Development Director of Rent on Time, about their innovative new product that, you guessed it, pays the rent on time every month!
The Rent On Time brand was established in 2008 and is one of the fastest growing companies in the UK private residential property rental sector.
It is insurance backed by Das.
The cost of this service is 6% plus VAT of the monthly rental income.
Rent on Time also offers a "Tenant Find" service for £75.00. As a special offer to PT members, if you use the Tenant Find service and then move onto Rent On Time, you will be refunded £50.00.
Please watch the video in full to understand the offering.
Letting agents can also "white label" the service and use it as a value add for Tenant Find services.
Any questions for Rent on Time, please post them here or email info@rentontime .
Landlords with 15 or more properties are invited to contact Paul direct.
Illegitimate is not the same as "creative". A deal can be legitmate and creative. A deal can be creative and illegitimate.
BMV is not mutually exclusive to NMD. You can have BMV without NMD. You can have NMD without BMV.
Creative finance can mean that rules are being bent or loop holes exploited, or it can mean that you are just being creative and the deal is fully disclosed to all parties.
Just because you bought a property NMD doesn't automatically make it a good deal. Just because you bought a property at the net price and put in a 25% deposit doesn't automatically make it a good deal.
Being realistic about what is achieveable is not the same as being a dream-stealer.
Being unrealistic about what is achieveable could lead to someone's dreams being stolen.
Bring realistic about the challenges of property investment is not the same a being negative.
Everything is possible in theory. The practical application might be extremely difficult.
Property is not a case of "one size fits all ... ".
Warning people about the possible pitfalls in any particular investment strategy is warning people about the possible pitfalls in any investment strategy.
Commenting on forums, sharing opinions and knowledge is one of the best ways of helping and supporting new investors. Respect that people are intelligent enough to make up their own minds.
Open, random, and supportive is always going to gain more traction on-line than closed, selective, and controlling. It is almost certainly more healthy.
You can never please all of the people all of the time, and you shouldn't try to.
It's dangerous to make assumptions.
Most people want you to fit in, so that they can ignore you.
Beware of the half truth. You may have got hold of the wrong half. It is hard to believe that a man is telling the truth when you know that you would lie if you were in his place. ~Henry Louis Mencken
Everyone has a choice of how they run their property business. It is up to the individual. Live and let live.
House prices might go up. They might go down. They might go sideways. Who knows?
The number of properties you own is vanity. Cash flow is sanity. Cash in the bank is reality.
Your mind is like a parachute. It only works when it's open.
You can never learn less.
Robust and healthy debate = wanting and willing to learn.
Argumentative = I'm right and you are wrong.
Making things personal only reflects badly on you. Let's remember that we don't know everything about everyone around us and that putting our ego away can help us see things differently.
Let's just get over ourselves.
You might think this post is dumb and doesn't matter. You could be right. I won't mind. Thank you for reading it.
You might think this post is really insightful and does matter. You could be right. Thank you for reading it.
Either way your attention is appreciated and all comments are welcome. :)
P.S. This post was inspired by this video. I hope you enjoy it.
In this video, Vanessa talks to Tom Evans - mentor, catalyst, and unblocker about moving forwards in 2011. Tom is a great sounding board if you feel you are "stuck" in business and he shares his thoughts here about how you can become "unstuck"!
Recommended that you follow Tom on Twitter @thebookwright.
Join the discussion on the Property Tribes forum >>> here.
In the interests of transparency, please note that we do not have any affiliate links or commission payments with anyone we interview for PT TV.
If you are a regular contributor to PT, and would like to share information via a video interview, please do get in touch.
Flickr: badgerproductions
LinkedIn: nick tadd
Pownce: nick tadd
Skype: badgerproductions
