Welcome to our December 2016 Newsletter
“Chestnuts roasting on an ooopen firrrre…”
Happy Christmas, and Martin & Co wish you all well for New Year 2017!We’ll be continuing our £600 including VAT “No Sale No Fee” offer which has been extremely popular throughout 2016 and will continue in 2017! The rental market next year will continue to be challenging, but as a professional ARLA licensed agent, we will relish competing locally.
If you are thinking of moving next year, or renting out a property call Martin & Co on 01455 636349 or email Hinckley@martinco.com
The majority of sales in Earl Shilton during the last year were semi-detached properties, selling for an average price of £148,686. Terraced properties sold for an average of £116,722, with detached properties fetching £231,552. Last year most property sales in Barwell involved terraced properties which sold for on average £111,899. Semi-detached properties sold for an average price of £146,197, while detached properties fetched £201,033.
The home-buying process is an “imperfect market” that conveyancers must brush up their communication skills. Speaking at the Conveyancing Association conference, Baroness Hayter – a long-time advocate of estate and letting agency licensing – said that as long as there is a possibility of a “nervous breakdown” in the buying process, then there is a problem that needs to be fixed. She said many worries can be placed at the door of estate agents, but warned that conveyancers must improve the way they communicate, so that buyers and sellers understand what is going on. Hayter said: “Purchasing a home is the one area that consumers are least able to engage with.” She said: “Home buying and legal exchange is a market with a problem. There is an asymmetry of information between lawyer and client. “Lawyers know what they are talking about but buyers can feel vulnerable in this situation.” She said conveyancers must consider the changing ways consumers want to be kept informed about, and involved in, decisions. She told delegates: “You should compete on price, speed and efficiency but also on softer skills of client care. She backed the Conveyancing Association’s recent White Paper which called for a move towards a home movers portal where all relevant documents are stored and a form of HIPs-lite provided, but said she would like to see conveyancers display prices more clearly to help people shop around. Hayter added that consumer protection would also be enhanced through the recently announced lettings fee ban and if her campaign for letting agent compulsory Client Money Protection proves successful. She said: “The promised ban on lettings fees and hopefully compulsory CMP will provide enhanced protection for consumers in the housing world, and will alter the culture.”
Five tips to prepare your house TO RENT!
LET GO AND DETACH YOURSELF! Think, “This is no longer my home; it is a new business venture.” The new tenant will quite rightly consider your property to be their home – keep away and let them have “quiet enjoyment”.
THINK SAFETY! Arrange to have an Electrical Safety Certificate, and recommended works completed. Service the boiler and have a Landlord Gas Safety Certificate in place. Check the condition of the structure of the house – think trips and falls (uneven/broken paving slabs, old/loose stair rails etc..). Install smoke alarms and/or carbon monoxide alarms. Don’t leave anything to chance!
INSURE! Obtain Landlord insurance which will include Public Liability Insurance, Contents Insurance, Buildings Insurance, and Rent Guarantee Insurance for the property (in case of fire/flood) and tenant (in case of arrears/damages). Also inform your mortgage provider!
MAKE THE HOUSE SPARKLE! A nice well looked after house should remain so, and will attract tenants who would want to keep it that way. Have a comprehensive ingoing inventory to protect both parties which clarifies the condition at the beginning of the tenancy.
LAST WORD! There’s no doubt that renting out your home can be a smart move, but if you do decide to go this route, make sure you’re prepared for the stress and financial obligations that inevitably go along with being a landlord.
Tenant Fees! Our view…well wouldn’t you believe it! The Conservative Government have relented to the constant lobbying and gone against what they promised in their election manifesto. They’ve announced in the Autumn Statement that they will BAN TENANT FEES – and then have a consultation with the industry…? It doesn’t make sense to us either, but there you go. What is clear is that there is a deep hatred for our industry, which is a shame because the vast majority of agents are professionals. We run businesses, employ staff and contractors and pay tax like any other private concern. Yet, it seems that everyone is an expert and thinks they understand the industry. In reality fees are shared fairly between Landlords and Tenants, and both consider themselves customers of the agent. Rents will rise if the entire cost burden is placed upon the Landlord, which has been proven in Scotland already. We’re not sure what will happen in 2017, but at Martin & Co we will continue to provide great customer service for both Landlords and Tenants, and will take on this ideological challenge with zeal.
As ever we are looking for more housing stock! So, if you are a Seller or Landlord please think of us. We offer excellent customer service for Sales and Lettings, and are a professional licenced ARLA Letting Agent.
Call us on 01455 636349