Regal Lettings @ Victory Pier by Berkeley Homes 07/06/2011
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In July 2011, Regal Lettings will be opening their new onsite lettings branch at the Victory Pier development situated in Medway Marina.
Victory Pier is a substantial river front development with over 800 apartments planned over a five year period. There will be regeneration to the quayside and pier as well as commercial units available.
Having researched the area's letting agents, Berkeley Homes have appointed Regal as their sole Letting agent.
Much more news on this to come. |
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Possible changes to Property Energy Efficiency 03/06/2011
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So soon after the introduction of the unpopular energy performance certificates (EPC), it seems that the government is still not satisfied. New proposals are in place to ensure that properties are brought up to a minimum standard. In principle it has noble intentions. However, some older properties, particularly those listed, will perhaps find it hard to meet these standards or at the very least expensive. Below is the latest on the matter from Painsmiths:
On 16 March 2011, the Energy Bill was introduced into the House of Commons with its First Reading. The Second Reading was delivered on 10 May.
The Energy Bill has been designed to provide for a step change in the provision of energy efficiency measures to homes and businesses, and make improvements to enable low carbon energy supplies and fair competition in the energy markets.
The Energy and Climate Change Secretary Chris Huhne announced plans to introduce regulations to ensure that all landlords face minimum energy efficiency standards under the Green Deal.
At the Second Reading the proposals included amongst other things:
. From April 2016 landlords will not be able to refuse reasonable requests from tenants, or local authorities acting on behalf of tenants, to improve their property;
. From April 2018 the government will make it unlawful to rent out a house or business premise which has less than an "E" energy efficiency rating, ensuring at least 682,000 properties will have to be improved.
The Green Deal is the coalition's national plan of home improvements to make houses and businesses cheaper to run through better energy efficiency.
The proposals will help the most vulnerable as more than a quarter of a million of the worst insulated rented homes are classed as fuel poor.
?Energy and Climate Change Secretary Chris Huhne said:
"Our proposals provide a voice for tenants living in poorly insulated, draughty homes. The Green Deal is a win-win opportunity for landlords by removing the upfront cost of work to upgrade the property making it cheaper to run, more environmentally friendly and ultimately more attractive to rent.
For those landlords who don't take up the Green Deal then we will get tough so that by 2018 the poorest performing rented housing stock is brought up to a decent standard."
Measures may include financial support for landlords making the changes and incentives to get the work completed sooner rather than later. However the coalition government has not given any details on this aspect of the Green Deal, which will no doubt mean, many will be reluctant to begin the work until they do. |
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Letting Agent Regulation 05/01/2011
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It is well documented in the media that the new Con/dem government has scrapped plans for mandatory regulation of Letting Agents. Indeed it seems that the new government wants more responsibility taken for self regulation rather than more big brother tactics employed by the government.
In our view this news is fairly academic. Regal Estates does not belong to ARLA, though we send our staff for the training and have members who have successfully passed the relevant exams. We employ standards that significantly outstrip our competitors who are members.
While ARLA are a good association with principles to be admired, it is an expensive option and fails to supply much of a perceivable benefit while membership remains voluntary.
Perhaps the government has missed a trick. Without mandatory licensing, agents will continue to play with client monies. They will continue to offer ridiculous cut price services that are unsustainable and which damage those agents trying to offer a good service to Landlord's and Tenant's alike. |
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What does 2011 bring 05/01/2011
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Well Happy New Year to all our current and future clients. But what does 2011 bring to the Lettings market in Kent?
For existing Landlords the picture is quite a positive one. Uncertain times in the economy will see a larger number of tenants and smaller number of first time buyers. As ever the supply and demand calculation will see rentals increase slightly over the year.
Good news for Letting Agents? Well not really is the honest answer. In the last couple of years the number of agents offering Lettings has increased massively. The product they offer is often inferior but the cut price fees attract in new business. This impacts on the professional Letting Agents and the market share is squeezed. When coupled with a dramatic reduction in new properties coming onto the market, something clearly has to give.
Regal Estates has bucked this trend and actually increased it's business levels in 2010. However, even with our excellent reputation and stock retention, we have noticed a large drop in the number of market appraisals we are asked to attend.
To see the effect this is having on the lettings market, we only need to look at our competitors, many of whom are down to offering around five available properties.
So to summarise, 2011 will be more of the same we have seen for the last three years. |
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Cut Price Agents 29/10/2010
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"But the other agent are offering a fully managed service for 2%, free everything and a daily delivery of freshly cut wild flowers..."
Ok so the above might be exaggerated but not by as much as you might think. Recently a competitor tried to entice new clients by offering free haircuts to new tenants.
Economic conditions are certainly tough at the moment and listings have dropped to an all time low, but too many agents are trying to offer cut price commissions that are simply unsustainable and will end up delivering a cut price service to match.
In the last six months, Regal have seen not a small few Landlords leaving our services to try agents offering significantly lower fees. We are delighted that 90% of all of these clients have now come back to Regal with a better understanding of the quality of service we offer at a price significantly cheaper than the corporate agents in the area.
We are here to help our clients and our fees will always be negotiated upon to try and achieve a fair level. However, we believe that a fair level is based upon the work, service and experience we offer and should not be compared to the fees offered by a new one man band letting agent that has just opened up and is trying to attract new business.
Our Managers feel very strongly about this issue and would be delighted to explain why they think you should use Regal.
For any information on lettings in Rochester, Rainham, Maidstone and Mid Kent, please give us a call. |
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