Booming rental market creates perfect job opportunities
There has never been a better time to pursue a career in the lettings industry.
With rents at an all time high and a soaring demand for rental properties, the industry is booming.
At a time when many other areas of the economy are struggling, the demand for rental property is unprecedented and this is unlikely to alter which makes the lettings industry an extremely attractive sector for those wishing to change career.
Spicerhaart recently instigated an internal training programme for all its lettings division. So now is a really great time to become part of a thriving industry and have an exciting career.
We place a huge emphasis on training and development and have put together a structured career path for all our staff to encourage swift career progression.
The training programme covers three major career stages from Trainee Lettings Negotiator right up to Divisional Lettings Director. Our lettings branch network is currently undergoing major expansion and we have a number of vacancies as many of our existing staff have recently been promoted.
If you have the motivation to succeed and want to work for a dynamic and successful company we would be interested in hearing from you.
Labels: careers, Darlows, Felicity J Lord, Haybrook, lettings, Spicer McColl, Spicerhaart
Rent if you can’t sell
Homeowners struggling to sell their properties in tough market conditions and anxious to move should not feel despondent.
Many property sellers are now deciding that rather than waiting to find a buyer and secure a realistic price for their property, a temporary option is to rent it out.
Before now, it would not have occurred to many sellers that they can actually rent out their property, but many are seeing it as a viable alternative to selling.
The rental market is currently booming and landlords can expect increasingly higher yields with demand outstripping supply. Coupled with this, renting provides flexibility and a source of income, whilst allowing time for the housing market to improve.
Before deciding to rent out your home, it is important to obtain advice from a reputable lettings agent who knows the local area and market well.
Before letting out your home you will have to ensure it is up to market standards, inform your mortgage and insurance companies, and make it compliant with safety regulations and other legal requirements. This is not difficult and, providing you obtain the correct advice from us and our financial services colleagues, everything should be fairly straightforward.
Property is one of the biggest investments anyone ever makes, so it makes sense to ensure that when you do come to sell you do so at the right time and can secure the best price possible.
Labels: buy-to-let, Darlows, Felicity J Lord, haart, letting agent, lettings, property market, Spicer McColl, Spicerhaart, tenants
Google’s new property search helps put your home on the map
Spicerhaart is one of the first estate agencies to sign up to Google’s new property search feature on Google Maps, giving customers a wealth of options when it comes to marketing their property online.
Viewers can search a local area using Google Maps, pinpoint the exact location of a property for sale with us and see what features are offered.
They can search on property price, whether it is for sale or rent, how many bedrooms and bathrooms it has, and whether it is detached, a semi or townhouse/unit.
By being one of the first to partner with Google’s property search, we can offer our customers so much more. Not only do they benefit from exposure on all the existing main property portals to which we subscribe, their properties will be seen by so many more people who search on Google.
As the most popular search engine in the UK, it will be so easy for people to pick the location where they want to live, then see the wealth of properties on offer in that area.
Andrew Foster, product manager for Google, says: "We know that many UK home buyers are already using Google Maps to help with their house-buying and renting decisions, especially driving directions and Street View. By making property listings available in Google Maps we can drive qualified buyers directly to listings.
"It's a simple and free way for property companies to make their listings even more discoverable, and have them seen on an easy-to-navigate map."
Labels: buy-to-let, Darlows, estate agency, estate agent, Felicity J Lord, haart, Haybrook, housing market, lettings, London property market, property market, Spicer McColl, Spicerhaart
Landlords must be aware of new planning rules
Landlords may not realise they need to apply for planning permission to let houses in multiple occupation (HMO) under new rules.
Where a landlord lets or is considering letting a property to three or more sharers, this creates a house in multiple occupation (HMO). As a result, they will need to apply for planning permission for “changing the use” from a family home to a HMO.
The new planning rules have been introduced in response to the growth of “sharer properties” in certain areas predominately occupied by sharers such as students and migrant workers.
This legislation has come into place at very short notice and has not been very well-publicised, so many landlords may not be aware of it.
In effect, it means they need to obtain separate planning approval if they wish to let any property as an HMO. Furthermore, as the planning process takes about two months, landlords need to take this into consideration.
The new rules do not apply to tenancies which are currently in place, but a planning application may need to be made on tenancy renewal.
This will undoubtedly cause a massive increase in the number of planning applications and the number of appeals, as well as an increase in cost to landlords. Inevitably, many will now have to consider whether to let to sharers and what hoops they have to jump through to do so.
Do not forget that the HMO licensing introduced in 2006 is still very much in force, where certain types of HMOs require mandatory licensing. In addition, local authorities are able to create selective licensing for other HMOs by type or area under the licensing regulations. This new requirement for planning permission is an additional requirement to licensing.
Conditions are also likely to be attached to the new planning permissions. These could include an order to carry out a full health and safety assessment or perhaps restrictions on the number of cars allowed at the property.
I suggest landlords check with their local planning authority on their particular situation, or call us for advice.
Labels: ARLA, buy-to-let, Darlows, haart, Haybrook, landlords, letting agencies, lettings, properties, rent property, rental properties, rentals, Spicer McColl, Spicerhaart, tenants
Rental income on the rise
Rising demand for rental properties and an increase in rental income is good news for landlords - heralding the return of a more confident lettings market.
Recent figures have revealed that rents increased by 1.2 per cent in February following two months of decline. It is predicted that they will continue to rise throughout the year due to a shortage of rental properties.
A year ago, the market was flooded with rental properties but the situation is now reversing. A shortage of rental properties is already pushing some rental incomes higher and if this tightening in supply continues, landlords may enjoy a further recovery in rents over the course of the year.
However, it is vital both landlords and tenants receive good advice. We are committed to ensuring our landlords get the very best return on their investment and also that tenants are treated fairly.
As the rental market recovers, it is very important that landlords remain realistic about the sort of rental income they can achieve. This is why we offer extensive advice and guidance on how not only to attract the best tenants, but also what sort of rental income is appropriate in today’s market.
Demand for rental properties is very high, particularly as more people are deciding to rent. Competition for high quality rental properties is strong which is good news for landlords and hopefully signals the return a more buoyant market which will benefit everyone.
Labels: ARLA, buy-to-let, landlords, letting agencies, letting agent, lettings, lettings agencies, rentals, tenants
A successful spring for landlords is predicted
With spring just around the corner, landlords should do everything they can to ensure their properties are in the best possible order and reap the benefits of a predicted rise in rental income.
The rental market has seen greater demand but there are fewer quality properties available. This of course means that tenants no longer have as powerful bargaining power as they once did. However despite this, landlords should do everything they can to ensure their properties are presented in the best possible order to maximise their worth and achieve a quick let.
There are a number of steps landlords can take to make their properties not only more attractive to potential tenants but also to ensure they achieve the highest rental income. The property needs to be spotlessly clean, in good order with all the appliances tested and working and of course the legally required safety checks carried out.
Interiors should be painted in neutral colours to give a light and airy feel to the property, worn carpets and flooring should be professionally cleaned or replaced, windows kept spotless and gardens and external spaces immaculately presented. Adding up-to-date lighting and fixtures can also make a huge difference to the appearance of a property.
Spring is a particularly busy time in the lettings sector and the outlook for 2010 is very promising. However it is always important to remember that whereas a buyer might be happy to purchase a tired property which they can then add value to, a tenant wants a home which is fresh and ready to move into immediately. Our advice to landlords is not to expect anyone to live in a property that they themselves would not live in. Keeping a rental property in good order is good news for everyone as it means that it attracts better tenants, yields a higher rental income, and also maintains its value.
Labels: ARLA, buy-to-let, haart, landlords, letting agencies, letting agent, lettings, lettings agencies, properties, rent property, rental properties, rentals, tenants
Landlords urged not to lose out
Many rental properties are not adequately safeguarded against possible weather damage such as burst or frozen pipes or ill-fitting or broken roof tiles which can lead to major problems.
It can be extremely stressful when problems arise. Many landlords work full-time and have other obligations so making sure their rental property is well maintained, especially during adverse weather conditions, although a very high priority can be difficult. This is why it is so important to choose a lettings agent carefully and to consider how the property will be managed.
For example, something as straightforward as a tile which has blown off the roof, can lead to major problems. Replacing the tile will cost very little but if snow or rain seeps through damaging ceilings and walls it can be very expensive. We advise landlords to always consider a full-management service as in the long-run it can save a lot of money not to mention time and inconvenience.
We offer a full property management service with highly trained staff who visit properties regularly and are also very knowledgeable about developments in the law affecting landlords which gives great peace of mind.
We also advise that landlords should appoint an agent who is registered with the Association of Residential Letting Agents (ARLA) whose members are governed by a strict code of practice.
ARLA Membership is achieved only by agents who demonstrate that they have a thorough knowledge of their profession and conduct their business according to current best management practice. All members are required to have professional indemnity insurance cover and are covered by a bonding scheme which provides financial protection for client monies which have been misappropriated. Appointing an ARLA-approved letting agent means the landlord will receive the professional help he or she needs to realise a rental income without the constant worry that something could go wrong.
All landlords want to safeguard their properties which are extremely important financial assets. Choosing an ARLA member and also undertaking a full management service are simple steps which alleviate unnecessary stress.
Labels: buy-to-let, landlords, letting agencies, letting agent, lettings
Lettings market provides strong career prospects for graduates
Graduates should be looking at the lettings market as a key target area for employment.
With over a million under 25-year-olds predicted to be unemployed by the end of the year, job opportunities are few and far between. However, haart believes that opportunities exist in the residential lettings sector.
September and October heralds the usual scramble for jobs by school leavers, college leavers and graduates. However, this year has been particularly difficult for many because of the recession.
Working in lettings is very different to working in an estate agency. The relationship with a landlord and tenant can last for many years, and our employees have to have the right people skills to ensure that this relationship runs smoothly.
Although the residential sales market has slowed, the lettings industry is booming. Now is an ideal time for jobseekers with the right attributes to launch a fruitful career in property.
haart is a member of the Association of Residential Lettings Agents (ARLA) and offers a two-year structured graduate scheme guiding new recruits from induction to management.
Two years ago we successfully launched our lettings graduate trainee programme. Three members of the first intake are already managing top-performing branches and another is working as a business analyst for the operations team. These successes are a testament to the quality of our training scheme.
Labels: graduate jobs, haart, lettings
Falling rents create a tenants’ market
As the lettings market continues to favour tenants, there are more properties than ever to choose from, forcing rents down.
Because of the increase in choice, we are encouraging landlords to ask for realistic rents which reflect the market, reducing rent by 5-10% in some cases.
In our experience, landlords have been very receptive to this advice. They would rather drop the rent and fill the property than hold out for a higher rent and it remain empty.
The picture does fluctuate across the UK. Where landlords are starting to sell, the pendulum is swinging back, keeping rental income strong where the amount of available stock is reduced. However, for many, renting out property is still a quick-fix solution for private owners who are struggling to sell in the current market or for developers who are waiting for the market to pick up.
Whilst the current market conditions lend themselves to tenants, it is certainly not all doom and gloom for landlords, helped by lower mortgage rates. The key for landlords is to learn how to work with the current conditions and always be one step ahead of the market.
Labels: landlords, lettings, rental properties, tenants
haart launches residential lettings expansion programme
The haart estate agency group has responded to consumer demand for rental properties by expanding 22 sales branches across the UK to include residential lettings.
With the number of lettings increasing, haart has identified areas of the country where there is a strong demand for rental properties and has trained staff to provide a lettings service in addition to sales.
Haart sales branches that now offer lettings include Streatham, Earlsfield, Petersfield, Hayes, Wembley, Woodbridge, East Ham, Norwich, Norwich Golden Triangle, Westcliff on Sea, Torquay, Hornchurch, Harold Wood, Lincoln, Peterborough, Gidea Park, Grayshott, Lowestoft, Maidstone, Romford, Shirehampton and Wadhurst.
Tenants and landlords expect a good level of service, so thorough training has been a key part of the expansion programme. With lettings continuing to be popular, our focus remains on the excellent customer care for which we have become renowned.
Labels: letting agencies, letting agent, lettings
Make your rental a Spring success
At this time of the year the most important thing that any landlord can do is to ‘spring-clean’ their property, ensuring it stays in good shape and attracts the highest rental income possible.
At the moment there are a large number of rental properties on the market so it is vital that your one stands out from the crowd. We strongly recommend that landlords give their properties a thorough clean not just internally but externally too, to gain the best return on their investment.
As a result, we’re advising landlords to carry out any necessary renovation or remedial work over the May bank holiday to ensure they don’t miss out on rental yields during the key summer months.
First impressions count so it is important that landlords ensure that their properties not only look good but are also in good repair.
Now is a good time to check things like roofing, guttering and brickwork, which can all be severely affected during the winter months. This will pay dividends as it will not only make the property attractive to potential tenants but will help to avoid expensive repairs in the future. It is also wise to pay attention to outside spaces such as gardens and patios as these become particularly important to tenants during the summer months.
We are always on hand to advise landlords on how they can maximise their investment and are firm believers that the way to ensure tenants respect and look after your property is for you to look after your tenants.
In the current competitive climate the most valuable thing landlords can do is ensure rental properties are presented in immaculate condition to boost their appeal and attract a high rental income.
Internally, landlords should consider giving their properties a lick of fresh, neutral coloured paint and ensure that things such as light fittings, curtain rails and carpets are in good order.
Labels: letting agent, lettings
Healthy returns forecast on buy-to-let properties
With interest rates at rock bottom, one of the best ways of making profit on a nest egg is to look to the buy-to-let property market.
Competitive mortgage rates, increased demand for cheaper properties at the lower end of the market and falling house prices have become attractive propositions for potential new landlords.
Buying property to let is an excellent investment. You can now get yields in excess of 6%, and in some cases up to 8% and 9%, which is more than you would get from investing in a savings scheme. For example, a property worth £100,000 would provide a yield of 6.6% if you charged rent at £550 per month over a 12-month period. It is certainly a great way of capitalising on the current downturn - if you have funds to invest.
Investing in a buy-to-let property can potentially provide landlords with much higher returns than traditional forms of investment. However, to get the best yields, investors will need to use an experienced agent like ours, which is fully insured so the landlord’s interests will always be protected. We also know the local rental market, which ensures investors who are looking to buy a property, will purchase one that is in demand.
haart is a member of the Association of Residential Lettings Agents (ARLA), offering peace and mind to tenants and landlords alike.
Labels: haart, letting agent, lettings, lettings agencies
New refurbishment service offered to local landlords
Haart is offering a new advisory service to help landlords keep their rental portfolios in top condition.
As well as providing information, we can also manage improvements, from arranging a change of carpet to a total refurbishment, by instructing bona fide contractors on behalf of the landlord to complete works. We can also advise on safety issues such as gas and electric, and fire and furnishing regulations.
There is greater supply of property on the rental market now and better equipped and presented properties are likely to rent out more quickly.
Our service takes the worry away from landlords and our national database of people looking to rent and excellent marketing means that no one works harder to let landlords properties.
Our one stop approach is designed to cover all aspects of landlord needs. Property maintenance is a key part of maximising income for landlords, which has never been more important than in the current economic climate. Our advice to landlords would always be that if you want long term reliable tenants then invest in the accommodation you provide.
Labels: haart, landlords, lettings, properties, rentals
Tenants staying longer
We have noticed at haart lettings that Increasing numbers of tenants are choosing to rent their properties for longer periods because of the credit crunch.
We have seen average rental periods increase from nine months to around 14 months, with tenants staying for longer and opting for security and stability.
The number of people terminating their leases has greatly reduced as people are staying where they are, no doubt concerned about their employment prospects and the squeeze on credit.
Many would-be first-time buyers are opting to rent, even though property prices have come down significantly, preferring to see what happens to the market during the coming months.
As an experienced lettings agent, we are able to give plenty of help and advice to people choosing to rent, particularly if it is their first time. It is important they choose an agent like ours which is a member of the Association of Residential Lettings Agents, ARLA, to give them the peace of mind they require.
At the same time, we need to ensure that landlords’ rights are also protected, and while they are benefiting from having tenants stay for longer periods, we are also advising landlords they should include a break clause in case their tenants’ personal circumstances do change.
Labels: letting agent, lettings, lettings agencies, rent property
Landlords advised to choose regulated letting agent for peace of mind
As the credit crunch continues to bite, increasing numbers of estate agents are diversifying into lettings, without the necessary experience or training. In addition, more investors are putting their money into property over traditional stocks and shares, creating a higher demand for such services.
Getting it right the first time is always the best policy. Engaging the services of an ARLA-approved letting agent means the landlord will receive the professional help he or she needs to realise an income from their asset without the constant worry that something could go wrong.
Choosing a non-ARLA letting agent or going it alone may leave the landlord with a reduced financial return or hefty legal costs.
Potential pitfalls also include health and safety laws covering fire safety, gas and wiring, and Energy Performance Certificates. Breaches of the legislation can mean a big fine, or even losing the property to local authority control. Recent changes to tenancy deposit legislation require the deposit to be held in a protected account; if it isn’t, the landlord may have to pay three times the deposit to the tenant.
Landlords are invited to contact Spicerhaart if they have any queries, or would like to find out more about renting their property out. For more information, log on to www.spicerhaart.co.uk
Labels: haart, letting agent, lettings, lettings agencies
