Letting agents will have to join redress scheme

Landlords and tenants are finally being offered better protection from rogue letting agents after the House of Commons approved an eleventh hour amendment to the Enterprise and Regulatory Reform Bill.

Reference: propertydrum.briefyourmarket.com

The coalition government has bowed to pressure from Labour and industry groups by amending the Bill to allow for a system of redress.

All letting and managing agents as well as those agents engaged in leasehold management must now belong to an approved redress scheme, or ombudsman, which will offer landlords and tenants access to an approved redress scheme in order to deal with complaints when they arise.

Peter Bolton King (left), RICS Residential Director, said, “From now on, should a tenant or landlord experience problems due to poor service, they will be able to register their grievance with an independent redress scheme which, if appropriate, will investigate and award compensation.”

The move has been welcomed by various property professionals and industry bodies as a positive step to raise consumer protection by giving access to an independent disputes resolution mechanism and also an opportunity to raise standards across an industry thought to handle £14 billion a year, earning £1 billion for itself in the process.

Property Ombudsman, Christopher Hamer (right), said, “I have been

pressing for such a change for a number of years and I therefore very much welcome the government's approach to this important element of consumer protection.”

However, while many feel that this is a step in the right direction, there is widespread feeling that further action will be needed to remove all rogue letting agents from the sector, after the Government stopped short of backing an amendment introduced in the House of Lords by Baroness Hayter, the Labour peer who has led the campaign for change.

Caroline Kenny (left), UKALA Executive, commented, “Whilst well intentioned, the previous proposals that letting agents to be brought within the scope of the Estate Agents Act 1979 fell short of providing a genuine solution.”

Nevertheless, the Housing Minister’s announcement that the Enterprise and Regulatory Reform Bill will be used to provide a basis for future, specialised regulation of letting agency standards should ensure that landlords and tenants who choose to use professional letting services receive adequate protection.

“The National Landlords Association [NLA] looks forward to working with the Government throughout the forthcoming industry consultation to make sure that any regulation implemented encourages professionalism, provides financial protection and aids the development of a healthy and sustainable private-rented sector,” said Chris Norris, Head of Policy at the NLA. 

Calls for legislation have intensified in the past year or so amid a major shift towards renting in the UK. There are now 3.84 million households privately renting in England, up from 1.9 million in 2001.

Marc Von Grundherr of Benham and Reeves Residential Lettings commented, “Given the increasing move to a renting society with older owner occupiers, we need more rental stock not less and therefore the sector needs to be fully transparent, professional and have redress for all sides. The only way is through regulation.”

The London Coffee Festival 2013

It’s hard to resist temptation when the aroma of rich fresh coffee brew fills your nostrils. It almost gets to your mind!!! If you are one of the millions of coffee lovers in this world then The London Coffee Festival is your celebration. Scheduled from 25th - 28th April 2013 at The Old Truman Brewery, 91 Brick Lane (Spitalfields, London E1 6QL), is the prime event of UK Coffee Week which commemorates the love for this aromatic beverage in London.

http://www.londoncoffeefestival.com/

The anticipated footfall for this year’s event is approximately 15,000 including coffee enthusiasts and gourmets, trained baristas, and cafe owners coming together to make the event promisingly interesting and useful. The onset of the public celebration will be marked by Espresso Martini Launch Party on 26 April (Friday) from 5pm onwards.

You can expect the event to be a wholesome combination of entertainment, knowledge and of course, coffee! There are demonstrations, tasting sessions, brewery tours, live music and a lot of variety of street food. The event emphasizes on good quality coffee being produced all around the world and offers coffee aficionados a chance to know more about this world famous drink.

The event venue, The Old Truman Brewery, is very famous with the residents of Canary Wharf, Shoreditch, etc. particularly on weekends. It is a collective house with 200 small businesses, related by a run of passages and courts across the area. The area is divided into various zones (Soho, Hyde Park, Shoreditch, etc.) for you to figure out which event or stalls do you want to go to.

It’s quite easy to reach there by overground & underground rail network or by bus or on foot. You can take the tube or rail to either of Liverpool Street, Aldgate, Aldgate East or Shoreditch High Street from where The Old Truman Brewery is at a walking distance. The tickets to the event can be purchased either online for £9.50 or you can also buy it from the venue for £12.50.

All other related information and FAQs are there on the event website which can give you a comprehensive insight into the line-up of all the four days. For more information about this festival please click here.

The London International Ska Festival 2013

The London International Ska Festival 2013 from 28th to 31st Mar 2013 includes a star-studded line-up of Ska performing bands and DJs.

Ska, the music genre that blends facets of Calypso and Caribbean Mento amid American jazz and rhythm & blues, is all set to be celebrated yet again in this four-day long festival - The London International Ska Festival 2013. Rejoicing the essence of Ska, this year marks the 25th anniversary of the London International Ska Festival and features over 40 acts to be performed across various venues in London.

As per music enthusiasts, Ska is typically categorised into three epochs - the First Wave original Jamaican from the 1960s, the Second Wave English 2 Tone Ska revival of the late 1970s, and the Third Wave ska movement, which occurred between 1980s and 1990s. Scheduled to take place on 28th, 29th, 30th and 31st Mar 2013 at Clapham Grand in Wandsworth, Clapham, the festival promises to bring another splash of Ska from all these eras like every year.

The star-studded line-up has a number of Jamaican legends spanning different eras of ska with names like The Sidewalk Doctors, Rico Rodriguez, Lynval Golding from The Specials, and USA Ska initiators The Toasters. Silver Musgrave award winner Rico will be performing his classic Man from Wareika album on Day 1 of festival at The Jazz Cafe, in Camden Town. Other performing Bands include Ken Boothe, Freddie Notes (Montego Bay), Owen Gray, Vin Gordon Aka Don Drummond Jnr, Pama International, Intensified, Buster Shuffle, The Sidewalk Doctors, and many more.

The audiences can expect music influenced by the original American rhythm and blues and The Specials 2 Tone era and Madness as well. This platter full of 60s Jamaica through to the 70s and 80s resurgence is sure to be a delight for Ska fanatics. Various DJs like Jerry Dammers (The Specials), Gladdy Wax, Ras Digby (Sir Jesus), Jumbo (Java Hi-Power), Metro & Eddie Regal (Metro Downbeat), Chris Peckings (Peckings Studio1 shop), Tighten Up Crew, etc. will add to the fun with their excellent music mixes.

The events at Clapham Grand include an exciting array of pop and dance evenings from the resident DJs, along with various glamour and comedy carnivals also taking place at the same venue. If you are attending the London International Ska Festival you could also check out these other ongoing performances to complete the fun element.

Reaching to the venue is convenient with the Clapham Junction Railway Station or Wandsworth Town Railway Station located only a short walk away. You could also take the underground to Clapham South Tube Station and Clapham Common Tube Station situated in close proximity.

What Should a Rental Property Look Like?

If you are out there in the market trying to let out your property, then you must have already decided what kind of tenants you are looking to hand over the keys to. Although typically a rental property should look attractive, well maintained, and presentable, but the decision largely depends upon target market segment for your property.

A studio apartment or a smaller unit of residence is more suitable for a bachelor (working or student) or a couple. So depending upon the size of your property and your preference, you can decorate your home to make it eye-catching for the market segment. For instance, a school student looking to renting an apartment in London may like something bright, beautiful and decorative. Whereas, if a family moves into a home, they would prefer neutrally decorated interiors so as to give a sophisticated look to the house. Anyhow, you should bear in mind that the overall appearance should be pleasing, neither too stark nor too dull.

When you want to let your property and put it up in the market, you are obviously looking for maximum rental amount from the property. But in order to make the most of a deal, it is therefore very important for you to pay attention to the overall rent potential of the house apart from just the count of bedrooms.

Apart from interior decoration, there are various other things that tenants like to see in their new home. For example, a smart newly done kitchen is quite an attraction for tenants. So you could consider investing into redoing the kitchen to increase the asking price. Also, nowadays majority of the home seekers are looking for a kitchen fitted with good quality appliances. So make sure you keep that in mind.

Even modern smart bathrooms are important to tenants of every age. Even if your property has 3 bedrooms and is located at a great spot, a shabby washroom could be a total put off for a prospective tenant. You need to pay special attention to kitchen and bathroom especially if you are letting an ex-council property which is usually not in a fancy condition. Also, the overall look and feel of a house includes the exteriors as well, which includes the external paint, window panes, garden, outdoor lighting, etc.

As such, there is a market for every kind of property to let but how much do you want to invest into the appearance of the property depends upon how much rental do you want to get from the property. The cleaner, well maintained and crisp the property, the higher are the chances for a quicker and more profitable rental.

Guide to Renting Flats or Apartments in London

London is one of the world’s most prominent commercial and cultural hubs. Finding flats for rent in London could be a huge hassle if one doesn’t know where to look. Often first time buyers land in to deals which they would much rather have avoided or find out after making it official that they’re not getting all that they had bargained for. Rent prices have soared in recent years and looking up a place in the city has become harder than it was ever before.

In the face of such rising monetary considerations and daunting financial restrictions a growing trend has emerged, particularly amongst young professionals, of flat sharing. Although finding London flats to rent would nominally be considered a rather easy thing to do considering the wide reach of the internet and the classifieds available on it. However, the reality is rather different.

The most important thing with regard to looking for rental flats in London is being assured of the authenticity of the offer. This goes for both - landlords and tenants. Given the huge number of confidence tricks and other scams which are devised by illicit companies and dubious letting agents, particularly on the internet, knowing ones way around the real estate scene of the city would require either good insight or good guidance.

This also goes for flat owners looking to rent London flats. In such scenarios it can sometimes happen that the tenant is not trustworthy or may misuse the letting space. Subsequently they may also cause problems when the flat or apartment needs to be cleared. Therefore, in my opinion, it is best to approach a veritable residential letting agency when looking to rent flats or to put flats up for rent.

Ideally such agencies ought to have their headquarters based in London and must have been operating for at least a decade or more. Individuals looking for London flats to rent need to be assisted in acquiring residences according to their particular needs. Every person has a different requirement for their particular accommodation. These can be based upon location, price, time of lease, spacing etc.

To cater to the demand for renting apartments in London such letting agencies sometimes have particular parameters which make you find the required kind of flat much easier as compared to the effort which would be required to scour the entire real estate scene.

Landlords who wish to put up stylish flats for rent in London and want to do so in a secure and hassle free manner should also contact such letting agents. The number of contacts that such agents and agencies have would allow for the finding of trustworthy tenants much quicker than what one would be able to do on ones’ own.

One very useful feature of such agencies is that they divide lettings based upon duration so that only those parties on both tenant and owner side approach relevant persons. Also several of these agencies may also provide additional furnishing services which can be very advantageous to both parties. Also, the legal factors such as drawing up a contract, ensuring its adherence etc. are also done by them making the entire process of renting flats in London easy and uncomplicated.

A Helping Hand for Landlords & Tenants - London’s Lettings Agent

In the past few decades, London has become a prime international real estate destination. With more and more investors entering the real estate market, property values have risen exponentially as well as the number of London letting agents. Real estate developers in London state that this is the right time to make an investment, as the market is set to boom.

Real estate can be a very complicated industry to enter, for first time investors. There are a large number of scams and tricksters operating in this domain who can readily exploit unsuspecting novices. Therefore, investing in the wrong place, with the wrong London letting agents can be potentially disastrous.

Therefore it is advisable for first time investors to enter the market through London letting agents and real estate specialists. While approaching letting agencies in London it is also important of the authenticity of the ones which one is approaching. It is advisable to approach only the most well-known and experienced letting agents.

What this ensures is that the prospective tenants or landlords would get the best services available in renting, selling and buying real estate properties. Also, the older the letting agency, greater its web of connections and subsequently information relating to fats for rent.

Letting agents in London of such agencies would be spread out in almost all the residential areas throughout the city and therefore would be competently able to provide the exact sort of residential accommodation that their clients would require. Some of these London letting agencies also have offices in other countries whereby people from those nations could seek to purchase property in London and neighbouring areas.

It is most prudent, therefore, to approach letting agents when looking for a flat to rent as this would not only speed up the entire process while minimizing the amount of effort required at ones end, and at the same time ensuring that all parties get what they pay for and are not duped in any way.

Find Affordable Properties in London

London is an extremely sought after place to live and with so many relocations happening everywhere, London is becoming home to many people from within the UK, Europe and across the world. The cost of living in London is believed to be higher compared to other parts of UK, but this is not always true. The costs vary from apartment to apartment depending upon a number of factors. If you are looking for affordable flats to rent in London, the following pointers could help you find the accommodation of your choice:

1.    Location – When you shortlist a location for your apartment in London, opt for a region which does not fall under the purview of prime property in London. It is obvious that very well-off areas like Hampstead, Notting Hill, or Kensington would certainly provide beautiful and luxurious apartments to rent, but at the same time they could be comparatively pricier than other areas. So choose a location which offers affordable flats to rent, as the cost of renting can significantly vary from area to area.

2.    Transport links – Finding an affordable location does not mean that you opt for the remotest locations. That way you will only end up spending more on transportation!!! So make sure that the location you choose to live in has good and easy transport links around so that you do not have to spend your money on long travelling.

3.    Refurbished homes – Most often, new developments are cost more than the older constructions. This is not only true in London but almost everywhere else across the world. So perhaps recently refurbished buildings that have been don up to good standards could be more affordable for you.

4.    Letting agent – Finally, if you are unable to find yourself that prefect residential rental apartment, then a letting agent in London can come to your rescue. You can find good regulated letting agents in all areas of London such as Canary Wharf, Highgate, Hyde Park, and many more. These are the experts that know every part of London and know exactly which areas and accomodation can fit into your budget and suit all your requirements.

Affordable properties in London are not difficult to find. You just need to do a bit of research you will definitely find a home for yourself. All the best!!!