Archive for the ‘Renting property’ Category

Sally Asling from Surrey Letting Agent, SurreyLets, answer to this heading is “Its time for all agents and all Landlords to use their voice and to speak up but until there is a consultation and until there is an outcome, its business as normal”

“Following today’s Autumn Statement the Chancellor of the Exchequer, Phillip Hammond has confirmed plans  (and note these are plans, not legislation implemented from today!) to ban letting agents’ fees to tenants in England. The details of this important announcement are still very unclear but the Department for Communities and Local Government (DCLG) will consult with ARLA and other associations ahead of bringing forward legislation.So now is the time to speak out”

“The banning of fees will end up hurting the most, the very people the government intends on helping the most.”

Asling continues  “The Letting agents fees should not be abolished, but I agree they need regulating. Some agents charge ridiculous fees, but most agents like ourselves charge a nominal fee for a service. Our tenants pay to be references, they pay 50% of the Tenancy Agreement and a small administration fee and all of this is normally capped at £300.00 per tenancy. I don’t know what service in life you get for “free”, from lending arrangement fees, car hire fees and even banking fees. If these fees are abolished they will be passed directly to a Landlord without question and I know this will impact what the landlord needs to charge through rental increases to make it a viable option. Landlords are not charities, they are investors. Without Landlords in the Private Rental Sector this country has a deeply dire and worsened Housing Crisis – yet instead of the government helping resolve the problem a supply of housing, it is driving Landlords out of buying to let, increasing the number of empty homes and hurting those it is trying to help”

The following article has been taken from the ARLA News Board.

Since the announcement ARLA MD, David Cox has spoken with DCLG who have confirmed that a consultation on banning letting agents’ fees will be launched in the New Year. Details of what the consultation will contain have not been finalised and the Government has asked for ARLA to bring forward the industry’s views. DCLG also confirmed that this will require primary legislation through an Act of Parliament. This will give agents time to plan for the ban to come into force; in whatever form it takes.

So Landlords and Agents please have your say here!

ARLA is extremely disappointed that this announcement has been made without a strong basis of evidence. We’re asking the Chancellor and the Housing Minister for a meeting at the earliest opportunity in order to ensure that they fully understand the damage that this will cause to housing standards and the impact it will have on the cost of renting.

We need the Government to explain why measures have been brought forward without prior consultation which undermine the work that we and other partners are doing as part of the DCLG Affordability and Security Working Group.We do not believe that these measures will tackle rogue landlords who will continue to operate outside the existing boundaries of housing legislation.

On news of this announcement there are a significant number of common concerns – most notably the loss of income to support the vital services that Letting Agents provide. This includes the increased legislation, the burden of which has grown significantly over the last 18 months, with little to no investment in policing these new laws.

Commenting on the decision to ban letting fees to tenants ARLA Managing Director, David Cox said:

“A ban on letting agent fees is a draconian measure, and will have a profoundly negative impact on the rental market. It will be the fourth assault on the sector in just over a year, and do little to help cash poor renters save enough to get on the housing ladder. This decision is a crowd-pleaser, which will not help renters in the long-term. All of the implications need to be taken into account.

Most letting agents do not profit from fees. Our research shows that the average fee charged by ARLA Licenced agents is £202 per tenant, which we think is fair, reasonable and far from exploitative for the service tenants receive.”

“These costs enable agents to carry out various critical checks on tenants before letting a property. If fees are banned, these costs will be passed on to landlords, who will need to recoup the costs elsewhere, inevitably through higher rents.

“The banning of fees will end up hurting the most, the very people the government intends on helping the most.

We are telling our members to continue with business as usual. When the consultation is launched, the industry must present a united voice and all agents need to work with ARLA to make our collective views heard at the very highest levels of government.

We welcome your views on this announcement to help support and inform the arguments that we are making in the media. To make your views known please email communications@arla.co.uk

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rent-increaseAccording to ARLA  (Association of Residential Letting Agents) The supply of rental homes has risen “astronomically”, from the lows seen earlier this year.  The jump in availability is likely to have contributed to average private sector rents remaining unchanged in September, ending a near six year run of rising prices, according to the Office for National Statistics (ONS).

But despite rents being flat month-on-month, they were still 2.3% higher than they had been a year earlier, meaning they are rising at nearly four times the rate of inflation.

Across Surrey, the fact that rents have been holding steady in September is likely to be due to the increase in supply, giving landlords less scope to hike their rents.Its a known fact that if a landlord keeps rentals the same then tenants will stay but they more than often leave when the landlord puts the rental up.

 

All areas of the UK saw rental increases during the 12 months, with the South East leading the way with a hike of 3.5%. Sally Asling, Lettings Director at online letting agency  SurreyLets comments  “At SurreyLets we are aware of continual rental increases year on year for tenants, however most investor Landlords look at the cost of replacing a tenant which can often offset and rental increases should the tenant leave due to a rental increase. Therefore our rental increases whilst modest are still within, if not more than,  the average increases seen in the South East.”

However despite more stock being available than earlier in the year, there is still an overall shortage of properties available,  therefore potential tenants are likely to face an increase in competition for properties and more rental increases.

Whilst across Surrey,  agents have seen who had been Landlords have been holding off committing to further Buy-To-Let investment following a multitude of tax disadvantages coupled with Brexit  continue to invest. Additionally the fears that  landlords would exit the sector in the face of a wave of tax hikes had not yet come to pass.

Landlords are facing a raft of tax changes including the higher Stamp Duty rate introduced in April, a reshuffle of mortgage interest tax relief next year and an end to the 10% annual ‘wear and tear’ allowance for those letting furnished properties.These tax rises have prompted concerns that the UK could face a significant shortage of rental homes.

The Royal Institution of Chartered Surveyors (RICS) recently warned that 1.8m new rental properties were needed just to keep pace with growing demand. SurreyLets director, Sally Asling concurs.

“Whilst ARLA have reported an increase in stock, there is still a shortfall in stock given the demand. In the key areas we cover which is predominately the affluent commuter belt areas in East and West Horsley, Effingham, Bookham and villages in the Guildford to Leatherhead corridor, we are seeing an increase in rental demand as families looking to secure a home in the areas, to benefit from the  outstanding schooling, are finding themselves priced out of the sales market. In these areas property prices have gone up a further 7% in the last year despite the market being quite stagnant following Brexit. There is no sign of the housing market dropping in value in these sought after villages, and families are struggling to get on the housing ladder. These families often seek employment in the city and need the quick commuter links, but like to live in these affluent villages. Rental is a viable solution but it has put an overwhelming strain on the private rented sector where there is a shortage of property available”

If you are thinking of letting your property in any of the areas above and would like a free, no obligation market appraisal of your property, we would be delighted to assist you. Our experienced staff can discuss all the options available to you and offer as much support as you need to guide you through the lettings process. Please contact Sally Asling, Lettings Director, SurreyLets on 01483 282470 or by email info@surreyletsonline.co.uk

 

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Despite it being a turbulent political year not to mention Brexit (oops I just did)  according
to Zoopla, house prices in Bookham and Effingham have increased in the last 12 months. Sally Asling, director of SurreyLets looks at the sales data.

The Sales market in Bookhamhousing-market

Property in the Bookham area has seen a growth of 7.47% in the last year  (Oct 2015 – Oct 2016)  which for the average Bookham property is an increase of  around £46,571
This is Great News for Bookham homeowners

The current average value is 668K whilst the average sold price is 615K . The average detached property in Bookham in October 2016 is 833K with the average Semi standing at 526K, Terraced homes at 430K and Flats averaging 294K

The Sales market in Effingham

Across the whole market there has been an increase though out the year. However over in Effingham, property prices have performed just a smidgen higher in pounds and pence, but the increase is is the same at 7.47%

Over the past year 24 sales have been agreed in this data catchment. The average value was 815K and the average sold price was £674K.  The average detached property has an average sold price of 981K, with the average Semi standing at 536K, Terraced homes at 525K and Flats at 437K

Rentals in Bookham and Effingham

Sally Asling – Letting Director at  SurreyLets states:  “The  average price for a 4 bedroom rental property in both Bookham and Effingham is in the region of £2500 – 3000pcm with 5 bedrooms reaching up to £3500pcm on average, however there is a severe shortage of stock in the Bookham and Effingham rental markets across all price categories which are effectively pushing rentals up.  Whilst the corporate market has slowed down, the slack is being picked up by the sheer number of people renting as they are self building or extensively renovating their own homes. If you are thinking of renting your property, SurreyLets are confident we can get you the maximum rental for your property in any price range.”

Forecast

Many people are concerned that the prices may dip following Brexit. However there are absolutely no signs of this in this areas of Surrey at the moment.

A trio of data from the NAEA suggests the UK is shrugging off the impact of Brexit with the housing market rebounding to pre-referendum levels.

There was a 16% jump in potential buyers in September, pushing numbers back up to levels not seen since June, while sales agreed rose by 12.5%, according to the National Association of Estate Agents (NAEA).Meanwhile, government figures showed the UK’s economy grew by a stronger than expected 0.5% between July and September, providing further support for the housing market.

Buyers and sellers appeared to have adopted a ‘wait and see’ approach immediately following the vote to leave the EU. The interest rate cut in August is thought to have helped boost confidence, as people expect mortgage rates to remain low for longer than previously thought.

Read more here

Data taken from the Zoopla Plus Website current as of 1st November 2016

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This is a  rather technical blog but I hope for some it will give an insight into marketing property via the portals and how we as agent need to lorightmoveok at key data to get the best marketing from the portals for our clients as we can.

 I often spend time with Landlords explaining that its not just about “putting a property on a property portal” but about ensuring your are using the portals marketing to the best advantage. So, I thought Id share a little bit about what we as agents see, and what we do to ensure the properties we are marketing are receiving the fulness of the capabilities in the tools that we have.

Sometimes, we have to throw out the flowery spiel and write attention grabbing headlines to get the desired result. We need to attract the real property seekers from the thousands of viewers out there.

Anyone that doesn’t believe property is a national obsession needs to work with me for a day looking though the “behind the scenes” data that we get from Rightmove and other property portals.

In the last 28 days, the properties that SurreyLets have on the market have been viewed 65,608 times. Really!  Are there that many people looking to move to the area?  Unlikely. We have to understand we are a nation of property obsessed people who constantly browse Rightmove to see what they can get, who is selling what and to seek comparable as to how much their house is worth or how much it might rent for.

Whats important to us as agents is the click through rate, this is what generates us our enquiries.

Out of the 65,000 clicking on SurreyLets  properties we had just over 300 calls and about the same in email leads. Looking through the diary and the applicant register this was around 40 viewings which in real terms is around 6 – 8 actual lets resulting from the advertising. So how did the headline number of 65K mash down?

We can see the “Click though rate” of every property, and if we are doing our job properly we need to be addressing any “lower than average” click though rates. So, if your property is performing poorly,  I may change the initial description weekly.  To improve the click though rate on your property to ensure maximum performance and viewing opportunities I amy do any number of things.   Just changing the front photo can vastly improve the click though rate, as can the headline, the price or just rotating the pictures. Its my job to keep enhancing your property so its performance is at the best it can be.

Leaving the agreed description, agreed photograph and order the pictures are seen in the same, will not help your property get found. It stops standing out.

Who knows what turns someone on or off! A beautiful minimalist modern kitchen may tick someones box, but the shabby chick country cottage may be another persons tick box. If its the first image they see that they don’t like, bang goes the click though – we have lost that persons interest.

At what point do you tune out?  For some its the price, others its the map view of the location, for others its the picture. Many click floorplan first and click out at the square footage. We are all different.

So if one week the click though rate is not good, by simply changing the picture I can change the click through rate. It may not be the “best” picture or the Landlords favourite, but it may pick up the enquiries.

Over the last 10 years, Rightmove has invested in additional search technology to introduce new ways for potential buyers and tenants to view your property listings, for example, via our email alerts and online publications.  This is where we try now to increase the number of extra view details to your report. Its our job to ensure the details are friendly for when they are sent out in the many forms of media.

‘Extra’ detail views

Here’s a list of the features that generate ‘extra’ detail views for your properties. These are things we can do to maximise marketing of your propertyFeatured Property (top of search results page)

Property Email Alerts (email updates)
Twitter
Send to a Friend
New map search
RSS Feeds
Company Edition
Local Edition
Bookmarked properties
The Rightmove Property Widget
IE8 Webslices
IE8 Accelerators
Search Engines
Property links posted on Social Networking sites

Landlords, when you instruct SurreyLets to market your property, you can rest assured that we know how important finding the right tenants to rent your property in the right timeframe is for you. We will be constantly looking at the incoming data to ensure we are reaching the people who are looking. We do not just put your property on the portals and be forevermore reactive – we proactive use all media available to us.

If you are a Landlord and would like to know more about our Letting Services available to Landlords in Surrey then please call for a free, no obligation discussion on 01483 282470 or send us an e-mail info@surreyletsonline.co.uk

 

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A beautifully presented fully refurbished detached 4 bedroom family home situated in a popular and convenient location within the charming village of West Horsley and within a few minutes walk of the highly sought after Raleigh Primary School in West Horsley.

rearThe property is a wonderful example of contemporary and stylish living with a high quality finish, it offers spacious well thought out family living accommodation but also has a purpose built home office attached plus other outbuildings.

Marketed for rental though local agent SurreyLets, Sally Asling, Lettings Director comments  “This property is a really lovely family home inside and out, ideal for families who wish to get their child into the highly sought after Raleigh School, or for families with children already attending. The location is  an easy walk from the village of East Horsley with its fast trains into London Waterloo, an array of local shops including a coffee shop, butchers, bakers and convenience stores and the medial centre village hall and playing fields, this property is incredibly well situated. Priced at just £2995 this property represents excellent value. It is available immediately for a medium to long term let.”

The accommodation comprises of: A spacious open plan Kitchen / dining room, a family snug complete with log burning stove, Utility room and downstairs WC, formal spacious double aspect lounge with views to the garden, small study room or home office, downstairs double bedroom with en-suite shower room ideal for guest accommodation or an au pair.Upstairs the property offers a further spacious double bedroom with ensuite bathroom, two further double bedrooms and a family bathroom.

Externally the property offers wonderful outbuildings consisting of a further utility / laundry room, specially designed worship, a purpose built home office and a double open car barn. The grounds that surround the property lend themselves beautifully to family living and entertaining with an enclosed private rear garden and a paved courtyard.

FEATURES

Beautifully Presented Detached Family Home
Wonderful Quiet Location
Four Bedrooms
Three Bathrooms
Beautifully Fitted Open Plan Kitchen / Dining area
Family Snug with Log Burning Stove
Double Aspect Lounge
Study
Purpose Built External Home Office
Laundry / Utility Room
Workshop and Double Car Barn
Superb Location for The Raleigh School

For viewings please contact SurreyLets on 01483 282470 or mail info@surreyletsonline.co.uk

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Live Active Property Search

propsearchSurreyLets work  continually with Relocation Agents to secure properties for corporate clients in the areas of East and West Horsley, Leatherhead, Guildford, Cobham, Clandon, Booking and Effingham areas of Surrey and currently have a live property search we are currently unable to assist with due to a shortage of property.

Our Relocation Agent is seeking the following for a Colpal client relocating from New York. 

  • Max Budget £6500pcm
  • Children will be attending ACS Cobham so the closer to this the better
  • Furnished or Unfurnished
  • Good Sized Garden
  • 5-6 bedrooms with 3-4 bathrooms
  • Must be moderns with refurbished kitchens and bathrooms
  • Garage and parking for 2-3 cars
  • Gardener must be inclusive

The Relocation agent is looking to view prospective properties with him in 13th & 14th October and they are looking to occupy the property before 21st November 2016

If you have a property that you are looking to let that meets the above criteria we would be delighted to show this to this particular applicant. 

If your have a property to let but it does not meet the requirements of this search, please do contact us as we have many searches from corporate relocation agencies on a weekly basis. 

SurreyLets are an independent Lettings and Property Management company covering the Guildford – Leathered area of Surrey specialising in offering a tailor made service to all Landlords. Being an on line agent we are able to offer competitive fees without any compromise to service. Do view some of our client testimonials here. 

Our advice is free and without obligation, so for a free market appraisal of your home or investment property please don’t hesitate to contact us on 01483 282470 or by email at info@surreyletsonline.co.uk

 

 

 

 

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SurreyLets are pleased to be able to offer a three bedroom detached family home situated scfronton the boundaries of Ockham, Cobham and Effingham Junction.

The property is available for a Long Term let, is pet friendly and offers generous living accommodation and is on the market for £1275pcm

Lounge with wood burning stove, Dining Room, Fitted Kitchen, Utility Room and Downstairs Cloakroom, access to the single garage, Two double bedrooms, Generous Single Bedroom and a Family Bathroom.

The only appliance let with the property is the cooker which is electric as the property is not connected to mains gas. The heating is by electric radiators which do increase running costs, but is reflective in the rental being charged.

Externally the property has ample room for off road car parking, an enclosed garden area and is within a  woodland setting with no close neighbours.

Properties like this rarely come to market that offer excellent value for money and a long term prospect so early viewing is recommended.  Please call SurreyLets, the Letting Specialists on 01483 282470 or send us a mail to info@surreyletsonline.co.uk

SurreyLets are members of ARLA and the Property Ombudsman

 

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