I recently posted a video to my YouTube channel explaining all the issues with legal compliance when it comes to deals sourcing and rent-to-rent businesses. There are so many different things you need to do before you get started and if you mess it up, you could end up paying huge fines or even end up in jail! Until now, this has often acted as a barrier to entry for people starting out in the industry.
While this has been a big problem for many newer investors, there is now a solution. I have worked with my lawyers, and we have something revolutionary for deal sourcing and rent-to-rent entrepreneurs. Make sure to read until the end to learn what it is and how you can take advantage of this unique opportunity. Also, please watch the full video (above) as it contains even more important information.
1. The Problem
If you have rent-to-rents or you do deal sourcing, you can find your work falling under all sorts of legislation. You will often need to register under anti-money laundering requirements, register with the information commissioner and more. This all costs money and requires a lot of time.
On top of this, you will also need to register with a redress scheme. The anecdotal evidence I have got from my students is that there is a bias against deal sourcing and rent-to-rent business models with these organisations. One redress scheme even owns a property blog that often posts negative articles about rent-to-rent businesses!
2. The Solution
The first part of the solution is to learn how to do rent-to-rent and deal sourcing without being classified as an estate agent in law. This can remove some of the regulatory burden if done correctly. You have to understand what is, and what is not, allowed. Once you understand the law, you can comply in the right way.
Next, you need a mediation service that understands rent-to-rent and deal sourcing. An organisation that can deal with complaints fairly and that wants the industry to do well. So I have started just such an organisation!
3. The PIMS
Introducing the Property Investors Mediation Service (PIMS), a business to business mediation service for deal sourcing and rent-to-rent businesses. We will teach you how to run your business so it does not require registration with a redress scheme. We will mediate your customer complaints at no extra charge. Finally, we will give you all the contracts you need to get started!
If you are looking to get started, then this is the way to do it. You can sign up, follow the training and get going. You can potentially start trading immediately without going through lengthy and time-consuming processes. It is also something that you can use if you have an existing business and would like to simplify compliance and use mediators that truly care about, and understand, your business.
The annual membership fee is just £1995, but for anybody registering in April 2023 you will receive a £1,000 discount. Given the savings you will make and the hassles you will avoid, this is an amazing deal. You can sign up for, or learn more about, the scheme on the Property Investors Mediation Service website.