Category: Uncategorized

Landlord’s Loophole Following Budget Bombshell?

UncategorizedEdward Carter
I fear the fallout continues following the Chancellor’s announcement of a 3% increase in Stamp Duty for buy-to-let properties and second homes in his Autumn Statement. The increase is due to be introduced in April and there is speculation that small landlords will rush to purchase properties to let before that deadline. George Osborne has received much criticism from landlords and letting agents. Landlords provide a valuable service in the property market by providing affordable homes for those unable to afford to buy. Past Conservative governments have valued these entrepreneurs and Osborne appears to be making a risky political gamble by alienating this sector.…

Survey Shows Private Rental Sector Suffering!

UncategorizedEdward Carter
I was interested to read the results of a recent survey by Belvoir, a nationwide franchise operation specialising in letting properties. Of the landlords surveyed, 68% said they had not raised rents in the last twelve months but 88% believed that the increased costs for purchasing buy to let properties introduced by the government would inevitably lead to a general increase in rents. The survey was conducted in December and January and received 1,038 replies, not exclusively from Belvoir clients. Although nearly half of those respondents said they had no plans to increase rents in the coming twelve months, 44% said they would…

Which Properties Are Easiest to Let?

UncategorizedEdward Carter
If you are thinking about buying a property with the intention of letting it out, you are going to want to know which is likely to let quickest and with the least trouble. While nobody can be sure 100% of the time, properties that let quickly are likely to have most of these features: • Convenient location. Good transport connections and being close to shops, schools and parks are important to people. If you are considering student lets then quick and easy access to college or university is essential. • Kitchens and bathrooms. There is no doubt in my mind about the importance of keeping kitchens…

Court Rules Harassing Landlord Must Use Agent

UncategorizedEdward Carter
I was horrified recently to hear of the case of a rogue landlord harassing tenants to such an extent that a court ordered him to appoint a managing agent. In what is believed to be the first case of its kind, a landlord in the Midlands has been issued with a Criminal Behaviour Order requiring him to instruct an agent to manage his portfolio of properties to let. The ruling was made by Wolverhampton Magistrates’ Court and is effective on the landlord, Jaspal Singh Sahota, for ten years. Mr Sahota was found to have harassed his tenants and caused them stress and alarm as a…

Tenants Key Search Engine Phrases!

UncategorizedEdward Carter
A data marketing agency has published a list of the most popular phrases typed into search engines by prospective property purchasers and tenants. The agency, Blueclaw, claims an obvious key phrase such as “houses for sale” will attract an average of 368,000 searches per month. In this internet age Google’s Consumer Barometer Survey has estimated 84% of people say the first place they look for any information in general is online. The figure searching for property or real estate information on the internet is 79%. Estate Agent Today quotes Blueclaw’s top property search phrases: • Houses for sale • Flats to rent…

Rogue Letting Agent Jailed!

UncategorizedEdward Carter
I recently read of a horrific case of fraud in the world of lettings. Martin Marcus has been jailed for four and a half years after admitting five cases of fraud at Harrow Crown Court. Barnet Council Trading Standards carried out a four year investigation into Marcus’ actions and found that he scammed tenants and landlords alike out of some £220,000 in rents and deposits. Music teacher Hannah Casey was one of his victims. She and a friend agreed to rent two rooms in a flat and paid Marcus £800 as a deposit, together with a £150 administration fee. When they visited the…

What About Pets?

UncategorizedEdward Carter
I was asked by a landlord recently what my views were on allowing tenants to keep pets in rented accommodation. My answer? It depends… If you say “definitely no pets allowed” then you will be drastically restricting your market. A gerbil or hamster in a cage is still a pet but unlikely to cause any damage, for example. My general rule is to say ‘pets considered’. This covers you nicely but it does mean there is a judgement call to make. Providing one of the tenants is at home at least part time then I usually have no problem with a cat or dog…

The Case of the Mystery Tenant!

UncategorizedEdward Carter
I heard recently about a landlord who had let a property to three students. He had reason to believe that a fourth person had moved in and wondered whether it would cause problems for him. My most immediate concern would be that it could invalidate the landlord’s insurance policy. If the insurer has been told that there are three students in residence then that is what they expect. The fourth person might be claiming benefits, for instance, and that could create issues. If it happened in one of my properties I would call on the tenants and have a friendly chat. If there is…

The Value of Renting – What we can learn from Europe

UncategorizedEdward Carter
Many things distinguish us Brits from Continental Europe but one of the biggest is our obsession with home ownership. This obsession was fuelled throughout the 20th Century.  When it began, only 23% of the population owned their own homes.  By its end that figure had been turned on its head with just 35% living in rented property. Today, however, home ownership in the UK is falling for the first time in a century.  We find ourselves crammed into the smallest homes in Europe.  Should renting really be so undesirable? The Europeans certainly don’t think so as many nations consider it a vital…
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