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Em

Em Morley

15% of tenants admit to breaking rules

Published On: September 21, 2016 at 10:26 am

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Interesting new research has revealed that one in seven tenants have broken one or more rules outlined in their tenancy agreement.

Data from the report conducted by Direct Line Landlord Insurance shows that around 15% of renters admitted to breaking conditions of their contract. Somewhat alarmingly, 9% said they don’t have a contract at all!

11% said that they were unsure if they had broken any rules or not.

Breaking the rules

Of those renters who admitted to breaching terms of their agreement, the most common was failing to pay rent on time. Next came smoking inside a property and having a pet without permission.

The full list of most common rules flaunted by tenants were found to be:

Activity Percentage of tenants
Failing to pay rent on time (or at all) 25%
Smoking in the property 21%
Keeping a pet in the property 18%
Damaging or making alterations to the premises 17%
Changing the locks 16%
Caused disturbances or a nuisance to neighbouring properties 14%
Sublet a room without notifying the landlord 14%
Failed to clean accessible windows 13%
Redecorated without permission 12%
Failed to check smoke or carbon monoxide alarm 10%

[1]

15% of tenants admit to breaking rules

15% of tenants admit to breaking rules

Sanctions

The most common sanctions for tenants found to be in breach of their agreement include:

  • losing some or the entirety of their deposit (52%)
  • having to pay for damages (22%)
  • being evicted (4%)

However, 21% of tenants say that their landlord hasn’t found out about their actions…yet!

Nick Breton, Head of Direct Line for Business, noted, ‘the relationship a tenant has with their landlord can be crucial in the smooth running of a rented property. It is therefore of utmost importance for tenants to keep in touch with their landlords should anything arise that may be in breach of their rental agreement.’[1]

‘Many landlords may be accommodating of requests to have a pet or to make changes to the property, but it is always safest to ask before doing anything to ensure that you are not breaking your contract in the process. Tenants who break the rules of their contract can face anything from the loss of their deposit to eviction, so for peace of mind, landlords should ensure they have a watertight legal contract in place to fall back on should anything happen to their property,’ he added.[3]

[1] http://www.propertyreporter.co.uk/landlords/1-in-7-bend-tenancy-rules.html

Selling a property most stressful life event

Published On: September 21, 2016 at 9:11 am

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A new survey has revealed that selling a property is the most stressful life event.

The study, conducted in the summer of 2016 by Vivo Property Buyers, found that selling a home is more stressful than having a baby, moving job roles and planning a wedding.

Stressful

Ensuring a guaranteed sale, alongside receiving the highest possible price are two significant factors that were important to house sellers, thus contributed most to their stress levels.

Jantiene Sobry, co-founder of Vivo Property Buyers, agreed with the findings, noting: ‘this is very true and completely understandable. It is the biggest asset most people will ever own and the process is long and daunting. It is the unknowns which make it a stressful event in your life.’[1]

‘This is exactly the reason why we set up Vivo Property Buyers. It seemed that within the property industry, there was only one known way to sell your house: selling on the open market. There is a real niche in the market to create a stress-free guaranteed house sale process without having to jump an endless amount of hoops,’ she added.[1]

Selling a property most stressful life event

Selling a property most stressful life event

Results

Further results from the survey revealed that short-term loan companies are the least trusted in the industry. In addition, the average time people estimate it will take to sell their property is between three and six months.

The most popular choice of selling a home is through a local estate agent.

What’s more, the survey found that there is still a stigma attached to the property buying industry, in comparison to local estate agents. However, Rupert Sobry, husband of Jantiene, remains optimistic.

‘Luckily, organisations such as the Property Ombudsman came into play to regulate the industry and protect consumers. Still, unfamiliarity breeds concern. It’s human nature to be suspicious about new things. Hopefully regulated Fast Property Buyers will soon be seen as equals to estate agents. Sellers can make their choice as to how they would like to sell but at least they have several options as opposed to only one option in the past,’ he observed.[1]

[1] http://www.propertyreporter.co.uk/property/survey-reveals-that-selling-a-house-is-the-most-stressful-life-event.html

 

London Lettings Market “Strongest Ever” Despite Brexit, Reports Estate Agent

Published On: September 21, 2016 at 9:06 am

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The London lettings market has recorded its “strongest ever” month, despite forecasts of a prolonged Brexit slump following June’s referendum result, reports estate agent Douglas & Gordon.

London Lettings Market "Strongest Ever" Despite Brexit, Reports Estate Agent

London Lettings Market “Strongest Ever” Despite Brexit, Reports Estate Agent

A 31% annual surge in revenue from lettings in August broke the firm’s record for monthly income. Along with recording a 12% increase in new tenancies, Douglas & Gordon experienced a 20% jump in enquiries from relocation letting agents, working on behalf of large international firms with bases in London.

The sharp growth seen in August suggests that the capital may have avoided a mass exodus of top foreign companies, says the firm.

Douglas & Gordon has also witnessed a marked change in the working patterns of employees from overseas firm. Contrasting to previous years, the majority of corporate lettings enquiries are for properties outside prime central London, with relocation teams preferring the lower rent prices of emerging prime areas, such as Clapham, Southfields and Battersea, where rents range from £650-£1,200 per week.

Overseas workers are also living in flats rather than houses, reports the estate agent, which suggests an end to the traditional package of relocating an entire family.

Rather than renting four-bedroom houses in central London, firms are now offering employees one-bed flats in emerging prime areas, with the option of commuting home for a long weekend.

The Director of Lettings at Douglas & Gordon, Virginia Skilbeck, comments on the data: “The fact we have had a fifth more relocation lettings enquiries this year compared to August last year shows that companies are still moving people in London. We’ve seen some interest from Americans, but it’s mainly Europeans – French, Germans and Italians.

“Landlords who were holding their breath before the referendum are now coming back to the market and the vote initially sparked uncertainty from house sellers too, many of whom are viewing renting as a good stop-gap while they decide what to do.”

She continues: “That’s led to high stock levels in the lettings market, so flexibility is crucial for both landlords and tenants, as both parties may want a six or nine-month break clause to keep their options open.

“Landlords also need to be realistic about rental rates. If a property is priced correctly, then it will see the demand, but if it’s too expensive then tenants have plenty of other properties to choose from.”

This guide will help you set the right rent price for your property: https://www.justlandlords.co.uk/news/setting-perfect-rent-price-property/

With the London lettings market looking strong, will the capital defy expectations from industry professionals and remain robust in the face of Brexit?

Wembley Landlord Mohammed Ali Dealt Final Blow

Published On: September 21, 2016 at 8:27 am

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A rogue Wembley landlord has been fined almost £7,500 for cramming six families into an unlicensed, semi-detached house.

A mother and her two children shared one bedroom

A mother and her two children shared one bedroom

Willesden Magistrates’ Court was told that Mohammed Mehdi Ali, of Barn Hill in Wembley, had not bothered to license his property, which was built as a four-bedroom family home. It now has six bedsit-style rooms and a shared kitchen and bathroom.

A raid by council enforcement officers found that 16 people were living in the house, including at least six children. Each of the rooms were let to a different family or group, with each only having their bedroom as living space, as the living room was being used as another bedroom. The tenants shared just one bathroom and two toilets between them.

The situation was only made worse by Mr. Ali’s blatant disregard of basic fire safety measures. Despite earning at least £2,300 per month in rent from the property, the Wembley landlord had not installed adequate smoke alarms or fire doors.

It also emerged that Mr. Ali lives next door to the rented house, something the court considered to be an aggravating factor in the case, as he would have been fully aware of what was going on in his property.

As he did not attend court, Mr. Ali was convicted in his absence of offences under the Housing Act 2004, and was fined £6,000 and ordered to pay costs of £1,318 and a victim surcharge of £170 – a total of £7,488.

The Wembley landlord had used a letting agent, Easy Let Homes, to collect rent on his behalf. The company pleaded guilty to offences under the Housing Act 2004, and was fined £450 and ordered to pay a victim surcharge of £45. The court said that it had taken the company’s full cooperation into account.

Councillor Harbi Farah, Brent Council’s Lead Member for Housing, comments on the case: “Given the serious overcrowding and poor fire safety in this house, we could easily be reflecting on a much more serious crime here.

“The contempt Mr. Ali has shown for this legal process by not even bothering to turn up for sentencing speaks volumes. The vast majority of landlords and letting agents in Brent are honest and law abiding, but we take a zero tolerance approach to the minority who think they can treat their tenants like this. Failure to license your property could result in an unlimited fine and a criminal record.”

Are you a Wembley landlord? Remember that most private landlords in Brent are legally required to obtain a license for their properties from the council. Find out more at www.brent.gov.uk/prslicensing.

London Living Rent to help renters save for a deposit

Published On: September 20, 2016 at 11:32 am

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Details of plans for a new type of tenancy for new build, affordable homes in London have been confirmed by the new Mayor, Sadiq Khan.

The programme-London Living Rent-has been proposed in order to assist average earners in the capital save for a tenancy deposit. This is through offering them a below market rent, based on a third of average household incomes in each London borough.

Savings

These homes will be offered to both low and middle-income households, earning between £35,000 and £45,000 per year and currently renting. It is forecasted that in London, this will see rents for a two bed flat fall below £1,000, in comparison to average rents of £1,450.

In addition, Mr Khan has put forwards his intention to protect the capital’s stock of social housing for people in low incomes. Khan has pledged to work closely with housing associations and boroughs to deliver these homes.

‘We know that fixing London’s housing crisis won’t happen overnight and we need to do everything we can to help Londoners who are struggling to pay their rents. That’s why I’m working with housing associations and councils to build new homes for London Living Rent, homes that will offer hard working, low and middle income families an alternative to renting privately so they can get by and save for a deposit.’[1]

London Living Rent to help renters save for a deposit

London Living Rent to help renters save for a deposit

Committed

David Montague, chief executive of L&Q and chair of G15, believes firms are committed to working with Mr Khan to make London more affordable for renters.

Montague said, ‘we want to provide new homes in a way which doesn’t involve setting rents beyond the reach of ordinary Londoners. This can be achieved as part of a mainstream grant funded affordable housing and regeneration programme in which housing associations retain flexibility over rents and asset management. A new agreement could include a move away from rent conversions on existing social rented homes where we agree that these homes are fit for purpose.’[1]

The new Mayor of Hackney, Phil Glanville, said he has already made a pledge that Hackney will be the first borough to build 500 homes for London Living Rent. He noted: ‘Hackney is already building more social housing than anywhere else in the capital, but it’s also vital that there are more homes which Londoners on middle incomes can afford to rent and buy.’[1]

‘The London Living Rent will help people who work hard but are getting priced out of our city, which is why I’m proud that my first act as Mayor is to pledge that Hackney will be the first borough to see 500 homes built at this affordable level. We must make sure that all the people who make London the world’s greatest city, whatever their background can afford to live here and take advantage of its opportunities, so I’m delighted to be working with Sadiq Khan to help make that happen,’ he added.[1]

[1] http://www.propertywire.com/news/europe/new-tenancy-scheme-launch-london-help-renters-save-home-deposit/

 

Harry Potter House Now Up For Sale

Published On: September 20, 2016 at 10:29 am

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The Harry Potter house that was the boy wizard’s home before he moved to Hogwarts in the popular film series is now up for sale.

The fictional 4 Privet Drive, which is actually located in Martins Heron, Bracknell, has gone on the market for £475,000.

Fans of the books and film series can follow in the wizard’s footsteps by seeking out the infamous cupboard-under-the-stairs in the three-bedroom home.

Harry Potter, played by Daniel Radcliffe in the film franchise, lived in the makeshift bedroom while staying with his terrible aunt and uncle, the Dursleys.

Fortunately, the buyer of the house will have three bedrooms to choose from, before they’re forced to retreat to the cupboard, referred to as the cloakroom in the property listing.

The detached family home was picked from hundreds to be used as the iconic film set in the fictional Little Whinging town in 2001.

The advertisement from Chancellors estate agent says that the property is “situated in a quiet cul-de-sac location” and has “recently undergone complete renovation to an extremely high standard”.

The property went on the market back in May 2010, when it sold for £290,000. Is it its Potter credentials or the booming property market that has pushed 4 Privet Drive’s value up to £475,000?

If you decide to snap up this famous house, you may also be interested to know that filming for the film series also took place in Bracknell’s Swinley Forest, as a 10-year-old boy discovered when he was walking his dogs in 2009.

However, as the Harry Potter house is not quite big enough for all fans of the franchise, those that can’t move in can instead head to the Warner Bros. Studio Tour in London, where you can see a life-size version of the same home, and even take a look inside.

Would you be interested in buying this little piece of movie history?