Honest Property Investment with Natasha Collins

Hosted by Natasha Collins

Business

Website RSS feed

Episodes

415

Latest episode

Jun 2026

Language

About the show

Confident investing without shortcuts. The Honest Property Investment Podcast gives UK commercial and mixed-use property investors the expert insight, strategic guidance, and no-fluff support they need to build high-performing portfolios that generate income and hold long-term value. Led by Chartered Surveyor Natasha Collins MRICS, each episode dives into smart commercial property strategies, risk mitigation, leasing, valuations, and the realities of property management — all with honesty, integrity, and innovation at its core. 🎙️ New episodes drop every Tuesday at 7am UK time.

Listen to episodes

60 recent

June 16, 202619 min

How Inflation Really Affects Commercial Property

When inflation rises, most commercial property investors focus on one thing: rent reviews.But inflation impacts far more than rental income.In this episode, I explore how CPI, RPI and wider inflationary pressures affect commercial property tenants, from rising wages and energy costs to increasing service charge budgets and insurance premiums.I discuss why understanding inflation can help investors assess tenant affordability, covenant strength and future risk, and why a successful rent review means very little if the tenant cannot comfortably absorb the increase.Topics covered include:The difference between CPI and RPIWhy landlords often favour index-linked rent reviewsHow inflation affects tenant profitabilityThe impact of rising service charge and occupation costsWhy occupation cost matters more than rent aloneUsing inflation as an indicator of covenant strengthQuestions investors should be asking about tenant affordabilityInflation doesn't just affect rental growth. It affects the businesses paying the rent. Understanding that distinction can help investors make better decisions around acquisitions, asset management and long-term portfolio performance.

June 9, 202616 min

Why Commercial Property Investors Should Care About Gilt Yields

Most commercial property investors never intend to buy a gilt, but understanding gilt yields is one of the keys to understanding what drives property values.In this episode, I break down what a gilt actually is, why gilt yields have risen so dramatically in recent years, and how changes in the wider investment market can affect commercial property values even when nothing has changed about the property itself.Topics covered include:What a gilt is in simple termsWhy gilt yields have become so importantThe relationship between gilt yields and commercial property yieldsWhy property values can change even when rents and tenants remain the sameHow investors compare property against other investment opportunitiesWhy commercial property still offers advantages through leverage, asset management and value creationIf you've ever wondered why valuations move despite no obvious changes at the property, this episode will help explain one of the biggest forces influencing the market today.

May 26, 202622 min

Part 8: Commercial Property Q&A: Lease Renewals, Covenant Risk & The Myth of Passive Income

After seven episodes covering the lifecycle of a commercial property — from lettings and rent reviews through to arrears, lease renewals and dilapidations — this final episode answers listener questions based on real-world situations.This episode focuses on the commercial realities behind investment decisions, lease negotiations, tenant covenant strength, and the operational side of owning commercial property.Commercial property can create exceptional long-term wealth and income — but it is not passive.It is a constant process of:negotiationstrategyproblem solvingand decision-makingAnd often, the most important work happens quietly in the background.Thank you to everyone who submitted questions for this series.If there’s a topic you’d like covered in future podcast episodes, feel free to get in touch.

May 19, 202615 min

Part 7: Dilapidations: Protecting Value at the End (and During) the Lease - The Journey of a Single Commercial Property

Dilapidations are one of the most misunderstood parts of commercial property — but they play a critical role in protecting the value of your asset.They’re not just about repairs.They’re about ensuring a property is returned in the condition agreed in the lease.And if handled incorrectly, they can become time-consuming, expensive, and damaging to landlord-tenant relationships.What You’ll LearnThe difference between interim and terminal dilapidationsWhat dilapidations actually are (and what they’re not)How lease clauses dictate what a tenant is responsible forThe role of building surveyors and solicitors in the processWhat landlords are really trying to achieveHow tenants typically respond (and where issues arise)Why dilapidations can become a negotiation tool — not just a legal processDilapidations are not about making a property perfect.They’re about returning it to a lettable, usable condition — typically a “white box” ready for the next tenant.Got a Question?Next week is the final episode — a Q&A.If there’s anything you’d like me to cover, you can submit your question anonymously here: https://forms.gle/znWTFqF74xguaB21A

May 12, 202614 min

Part 6: Lease Renewals: Where Value Is Protected or Lost - The Journey of a Single Commercial Property

Lease renewals are one of the most critical — and most misunderstood — stages in the lifecycle of a commercial property.They don’t start when the lease ends.They start 12–18 months in advance — and what you do in that window can significantly impact both income and asset value.In this episode, I walk through how lease renewals actually work in practice — from legal structure, to negotiation strategy, to the real costs involved.What You’ll LearnWhy lease renewals should start 18 months before expiryThe difference between Inside vs Outside the Landlord & Tenant ActWhy serving a Section 25 notice is critical (and what happens if you don’t)How landlords balance rent, lease length, and capital valueWhat tenants are really trying to achieve during negotiationsWhere lease renewals commonly go wrongThe true cost of a lease renewal (and how costs can escalate)Lease renewals are not just about agreeing a new rent.They are about structuring a deal that balances:Income todaySecurity of income over timeLease renewals are a key moment in the lifecycle of a property.Handled well, they stabilise income and protect value.Handled poorly, they can lead to lost income, increased costs, and unnecessary risk.Got a Question?I’m recording a Q&A episode for this series.If there’s anything you’re unsure about, stuck on, or want me to cover —you can submit your question anonymously here: https://forms.gle/znWTFqF74xguaB21A

May 5, 202614 min

Part 5: Assignment, Subletting & Surrender: Managing Tenant Change - The Journey of a Single Commercial Property

What do you actually do when a tenant can’t perform?In this episode, I break down the four key options available to landlords — assignment, subletting, surrender, and surrender & regrant — and, more importantly, when each one should (and shouldn’t) be used.This is where commercial property moves from process to strategy.Because the structure you choose doesn’t just solve a short-term issue — it directly impacts lease length, income security, and ultimately, asset value.What You’ll LearnThe difference between assignment, subletting, surrender, and surrender & regrantWhy assignment isn’t always the best optionHow lease structure impacts long-term valueWhen to prioritise control over convenienceThe risks and realities of managing tenant changeWhy these decisions should be strategic, not reactiveHave a Question?I’m recording a Q&A episode for this series. If there’s anything you’re unsure about, stuck on, or just curious about, you can ask anonymously here:https://forms.gle/znWTFqF74xguaB21A

April 28, 202617 min

Part 4: Chasing Arrears to Bust: What Happens When Rent Stops - The Journey of a Single Commercial Property

What actually happens when a tenant stops paying rent?In this episode, I walk through the full lifecycle of arrears — from the first missed payment through to breakdown, recovery attempts, and in some cases, tenant failure.This isn’t theory. It’s how it plays out in real time.We cover how to spot early warning signs, when to step in, and the key decisions landlords and property managers have to make when things start to go wrong.What You’ll LearnWhy a missed rent payment isn’t always a problem — but behaviour isThe key red flags that signal a tenant is in financial difficultyHow payment plans work (and when they don’t)The critical decision: forfeit the lease or chase arrearsWhat happens when tenants stop engaging completelyThe role of debt recovery, legal action, and surrender negotiationsThe real cost of arrears beyond just lost rentHave a Question?You can submit your questions anonymously using the link below — I’ll be answering them in an upcoming Q&A episode https://forms.gle/znWTFqF74xguaB21A

April 21, 202617 min

Part 3: Rent Reviews - The Journey of a Single Commercial Property

In this episode, I walk through rent reviews — one of the most important, and often misunderstood, stages in the lifecycle of a commercial property.On paper, rent reviews are designed to protect and grow income. In reality, the outcome depends entirely on how the lease is structured and how the process is managed.I explain what should happen during a rent review, the costs involved, and why not all rent reviews are created equal.Using a simple index-linked example, I show how some reviews can be straightforward and predictable — but I also explore the complexity of open market rent reviews, and why we made the decision to stop negotiating them altogether from January 2026.What a structured rent review process looks like in practiceWhy reading and understanding the lease is criticalHow rent is valued and negotiatedThe typical costs involved (and when they escalate)A real example of an index-linked rent reviewThe difference between index-linked and open market reviewsWhy open market rent reviews are becoming increasingly problematicWhy we no longer offer open market rent review negotiationsRent reviews are about protecting income — not gambling on it.The mechanism written into the lease matters more than the review itself, which is why the best outcomes are created at the point of lease negotiation, not years later.Open market rent reviews sound attractive in theory, but in today’s market they are often:Time-consumingExpensiveSubjectiveProne to disputeIn many cases, landlords are better off agreeing simple, structured increases upfront rather than relying on a process that may never deliver a clear outcome.Index-Linked Rent ReviewA simple, mechanical review based on RPI — no negotiation required, but not always reflective of true market conditionsAsk a question anonymously for the Q&A episode:https://forms.gle/znWTFqF74xguaB21AIn the next episode, I’ll be covering arrears — and what happens when income stops coming in.

April 14, 202618 min

Part 2: Lettings - The Journey of a Single Commercial Property

In this episode, I walk through the lettings stage of a commercial property — where income is created, but also where risk is often introduced.I explain what should happen when letting a property, from pre-marketing strategy through to legal completion, and why this process needs to be actively managed rather than left to run.I also break down the real cost of securing a tenant — including agency fees, legal fees, incentives, and the often-overlooked cost of time when a property sits vacant.Using real examples, I show how different approaches can lead to very different outcomes — from a property that sat vacant for 12 months before being successfully repositioned, to a deal that fell through after months in legal and what changed as a result.What a structured lettings process looks like in practiceWhy pre-marketing strategy is criticalThe true cost of securing a tenantWhy headline rent can be misleadingThe importance of tenant quality and covenant strengthWhy Heads of Terms doesn’t mean a deal is doneThe risk of relying on a single tenantHow a pipeline approach reduces void riskLettings is not passive — it’s one of the most important stages in the lifecycle of a commercial property.The difference between a good outcome and a poor one is rarely the asset itself — it’s the strategy, process, and level of control.Liverpool StreetRepositioned after 12 months vacant → fully let in 118 days through improved strategy and targeted marketingKingsmead StreetDeal fell through during legal stage → led to a shift towards a structured leasing model and pipeline approachAsk a question anonymously for the Q&A episode:https://forms.gle/znWTFqF74xguaB21A

April 7, 20269 min

Part 1: The Reality Behind the Numbers - The Journey of a Single Commercial Property

In this first episode of the series, I introduce the full lifecycle of a commercial property — from purchase through to exit — and, more importantly, the reality of what happens in between.Commercial property isn’t just about the numbers on a spreadsheet. It’s about the unexpected costs, shifting market conditions, and the time it takes to manage and negotiate effectively. It’s also about the wins — securing the right tenant, stabilising income, and seeing a strategy come together.This episode sets the foundation for the series by walking through the different stages a property moves through, and highlighting the multiple paths it can take along the way.Key TakeawaysWhy acquisition is only the starting pointThe difference between expectation and reality in commercial propertyHow rental assumptions can change over timeThe operational side of managing a propertyThe emotional highs and lows of asset ownershipAn overview of the full lifecycle — from lettings through to exitCommercial property is not a straight-line investmentIncome, risk, and value are constantly evolvingTime and decision-making are critical to long-term performanceUnderstanding the full lifecycle is key to building a resilient portfolioComing NextIn the next episode, I’ll start at the first real stage of the journey — lettings — and walk through how income is actually created, using a real example.Ask a Question (Anonymous Q&A)I’ll be recording a Q&A episode as part of this series.If there’s anything you’re unsure about, stuck on, or just curious about — you can submit your question anonymously here:https://forms.gle/znWTFqF74xguaB21AAbout the SeriesThe Journey of a Single Commercial Property walks through what actually happens after you buy — covering each stage of the lifecycle using real examples from assets I’ve worked on.