Written By Em

Em Morley

Housing Campaigner Running for Mayor of London

Published On: May 19, 2015 at 2:28 pm

Tags: London housing,Mayor of London,Something New political party

Successful housing campaigner Lindsey Garrett, from the New Era estate in Hackney, is running for the Mayor of London position.

Garrett is promising a new era for the city after leading a tenants’ campaign last year. US investors Westbrook Partners purchased the New Era estate in Hoxton, saying that it would double the affordable rents to market rates. This caused accusations of social cleansing.

Westbrook Partners then backed out of the plans and sold the estate to an affordable housing provider.

Garrett is focusing her political efforts on housing rights; however, her draft manifesto includes a range of measures to change who London is governed for. She wishes to build a city that nurtures its residents.

Housing Campaigner Running for Mayor of London

Garrett’s plans include the following:

Rent controls and a mandatory London living wage.

Public housing funded by a tax on private rental sector landlords’ rental income.

Devolution equal to Scotland, votes at 16-years-old and electoral reform for councils by replacing 33 authorities with five boroughs.

Putting the Corporation of London under the control of Parliament.

Approval of Heathrow Airport expansion.

A single, integrated NHS for the city.

An education system that gives Londoners a head start and aids people throughout their careers.

A city tax on hotel stays and funding for free/discounted cultural access for all Londoners.

Better policing and a crackdown on crimes against vulnerable people.

Zero tolerance on police attitudes that damage public trust.

An orbital economy to cut commuting times and mass river transport for a greener economy.

Read the full draft manifesto here: https://d3n8a8pro7vhmx.cloudfront.net/somethingnew/pages/193/attachments/original/1431563684/A_New_Era_for_London.pdf?1431563684.

Garrett says: “This is the city I want to live in; a city that serves its people rather than bleeding them dry. With Labour opposed to both rent controls and building enough homes, and the Conservative Party set to decimate housing associations, someone needs to stand up for Londoners, and it looks like that will have to be me.”¹

Garrett belongs to a new political party, Something New. Recently, lobby group Generation Rent revealed that their director Alex Hilton was stepping down. Read more: /generation-rents-new-director-revealed/. He later announced that he is joining Something New.

¹http://www.landlordtoday.co.uk/breaking-news/2015/5/housing-campaigner-runs-for-london-mayor

Agent rewarded for staying on Zoopla

Published On: May 19, 2015 at 1:01 pm

Author: Em Morley

Categories: Landlord News

Tags: increased leads for agents,selling property online,Zoopla

A letting agent has indicated that his firm is benefiting from staying on property site Zoopla, while others locally have chosen to move away.

Michael Riley, director of Capital and Coastal, said that the launch of OnTheMarket, which comes with a ‘one other portal’ rule, had been highly beneficial to his company. Riley claims that the launch had secured a 300% increase in inquiries for Capital and Coastal homes via Zoopla as a result.

Mr Riley believes that OnTheMarket does not generate adequate enough traffic to its site to move it into a meaningful position. However, he suggests that his own business is benefiting hugely from less competition, with a huge demand of house hunters accessing Capital and Coastal properties through Zoopla. Being one of a handful of South Coast agents still registered with Zoopla is giving the company a big advantage over rivals.

Success

Riley stated that the, ‘success of a website is not just determined by stock but traffic coming to the site to visit that stock. If you are a vendor, you want as many people as possible to be viewing your property to ensure you find the right buyer.’ He continued by warning that there is a, ‘risk to vendors that they will end up not achieving the maximum value for their property, as inquiries via OTM will be fewer and vendors may end up agreeing a price too early just to secure a sale.’[1]

Agent rewarded for staying on Zoopla

In the future, Riley said that he wouldn’t be surprised to see Zoopla changing their business model altogether, to become a direct selling agent. He said that, ‘obviously this would be a bold move for Zoopla, but its worked in the US so there’s no reason why it can’t here too.’[1]

Lawrence Hall of Zoopla Property Group agreed with Riley’s belief that the launch of OnTheMarket has been hurtful for their members. Hall said that the data, ‘clearly shows that since the launch of OTM in January, the average number of listings and new instructions for ZPG members has grow whilst for OTM members it has fallen, which is the clearest sign that OTM members are losing instructions and hurting their businesses.’[1]

[1] http://www.propertyindustryeye.com/agent-says-being-one-of-the-few-locally-to-stay-on-zoopla-has-led-to-300-surge-in-inquiries/

Land Securities post large pre-tax profits

Published On: May 19, 2015 at 11:45 am

Author: Em Morley

Categories: Finance News

Tags: Land Securities post profit,large business returns,London Developments

Hot on the heels from last week’s announcement from British Land on their strong annual performance, another of the UK’s biggest commercial property companies has also reported a strong year.

Land Securities announced that its pre-tax profits had double in the 2014/15 financial year to £2,416.5m. Additionally, the company reported that its total annual business returns had risen to 30.7%.[1]

Perfect timing

Chief Executive of Land Securities Robert Noel was understandably delighted by the results. He commented that, ‘our programme has been sized and timed to deliver highly efficient and technically resilient office space into a supply-constrained market.’ As such, Noel believes that, ‘the success of the programme is increasingly evident. At 20 Fenchurch Street, the amazing Sky Garden opened to the public and the development is now 92% let.’[1]

Additionally, Land Securities has pre-let all of another of its development sites at 1 New Street Square, more than a year ahead of its scheduled completion. With a further 1.1 million square feet of development scheduled, the company is well-placed to reap the rewards of the lack of supply currently evident in London.

In regards to retail, Land Securities plans to change its shopping centre portfolio, which includes the acclaimed Trinity Leeds. In addition, the company has taken full control of the Buchanan Galleries in Glasgow and a 30% stake in the Bluewater shopping centre in Kent.

Land Securities post large pre-tax profits

Bright Future

Noel believes that his company is investing in a programme designed to increase future opportunities. He said that, ‘our strategy is delivering for our customers, our communities and our shareholders. Crucially, it is a strategy which recognises the cyclicality of the market we operate in, ensuring we build a sustainable business for the long term.’[1]

Looking to the future, Noel is confident that Land Securities has, ‘a robust balance sheet,’ and have portfolios that are, ‘well-matched to customer demand.’[1]

[1] http://www.movehut.co.uk/news/london-developments-contribute-to-bumper-year-for-land-securities-29772/

Fine of £7,000 for Woking Landlord

Published On: May 19, 2015 at 11:40 am

Author: Em Morley

Categories: Landlord News

Tags: HMO licencing,landlord fined,landlord fines

A landlord in Woking, Surrey has received a £7,000 fine and been ordered to conduct 200 hours of unpaid work after his property did not have the required House in Multiple Occupation (HMO) licence.

Fine of £7,000 for Woking Landlord

The rental property, owned by Pervez Akhtar, also breached fire safety regulations.

Akhtar put his tenants at risk due to the lack of safety precautions, including not having a suitable fire alarm system, Redhill Magistrates’ Court was told.

The three-storey home was rented to individual tenants and therefore must have an HMO licence from the council.

Akhtar had been contacted by the council of several occasions, but did not apply for the licence. He provided the council with false tenancy agreements, meaning he could avoid licencing.

Woking Borough Council’s Housing Standards Manager, Neil Coles, says: “Woking Borough Council will not tolerate the actions of private landlords who put their tenants at risk or think they can provide us with false documentation.

“They should not underestimate the seriousness of failing to comply with their legal obligations, which, as in this case, could lead to a significant fine.”¹

¹http://www.landlordtoday.co.uk/breaking-news/2015/5/woking-landlord-fined-%C27-000

Council Offers Landlord Scheme at £150

Published On: May 19, 2015 at 10:46 am

Author: Em Morley

Categories: Landlord News

Tags: landlord accreditation scheme,landlords in County Durham,renting in County Durham

Council Offers Landlord Scheme at £150

Private landlords are being offered a new local authority accreditation scheme from Durham County Council, at a cost of at least £150.

The voluntary Private Landlord Accreditation Scheme will provide advice and support, and is being rolled out across the county after a six-month pilot in one area.

The scheme will require landlords to meet a code of practice. This will ensure tenants and prospective renters know their landlord provides a good quality service and high standard accommodation.

Landlords who enter the scheme will receive guidance and access to a tenant referencing service. They will also be supported in cases of anti-social behaviour, among other benefits.

Those that meet the code of practice will be added to the Council’s Durham Key Options website, named the “main gateway for people seeking social housing” and for “tenants looking for rental properties in the county.”¹

For this, landlords must pay £150 if they own one to ten rental properties, and up to £500 for over 100 properties.

A Council spokesperson says: “The Private Landlord Accreditation Scheme is a win-win situation for the rental market in County Durham.”¹

¹http://www.lettingagenttoday.co.uk/breaking-news/2015/5/council-wants-landlords-in-voluntary-scheme–at-a-cost-of-%C2150

Written By Em

Em Morley

Housing Campaigner Running for Mayor of London

Agent rewarded for staying on Zoopla

Land Securities post large pre-tax profits

Fine of £7,000 for Woking Landlord

Tenant Evictions at Record High

Council Offers Landlord Scheme at £150