The Progressive Property Podcast Property News: Market Update & Landlords Covid Break Clauses
Tune in to a brand new podcast series covering everything hot in property right now! Hear from Progressive Property’s expert trainers each week as they cover the most up to date property news, strategies and tactics in short, informative and educational episodes.
Today, Kevin weighs in on the debate between landlords, students and proposed COVID break clauses, shares his thoughts on the growth of medium-term lets and gives you an insight into the 2021 property market.
Let us know in the Progressive Property Community what your thoughts are on the COVID break clauses debate between landlords and student.
KEY TAKEAWAYS
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Should landlords consider COVID break clauses? Current proposals state that the landlord should let the student (tenant) out of their contract or provide a rent-free break whilst the students are not staying in the property.
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Student accommodation platforms are stating that landlord and academic authorities have to consider break clauses and premature tenancy end for student lets with students studying online and lectures being held virtually.
- There has been a huge growth in medium-term lets such as Airbnb’s or up to 6-month rentals. Flatio has acquired digital housing marketplace NomadX in an acquisition worth over £3.6 million to expand medium-term lets into the UK marketplace. As investors, we should be looking at what the bigger players are doing and Serviced Accommodation and medium-term let’s are growing.
- As a property investor, you should aim to follow the successful. There is going to be a boom in serviced accommodation so piggie back on it. Get in early ahead of the masses and you will get more money from your property as short-term let than a long term let.
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2021 Predictions: With Furlough and stamp duty incentives coming to an end in early 2021 we’re likely to see a mirror image of the market crash in 2007/2008. Money will slow down and banks will stop lending but professional property investors will scale their business.
BEST MOMENTS
“If you look at what the top of the food chain is doing you can replicate it”
“This might be the time to start doing some deals in medium-term lets”
“Flatio aims to have thousands of UK property lets in its inventory in the next few years”
“Those that push forward with their property investments will make significant income over the next few years”
VALUABLE RESOURCES
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
https://www.facebook.com/kevinMcDonnellProperty/