Predictions for the 2010 Property Market

At this time of year, every other question I am asked is "So what do you think will happen in the property market 2010?"

Like you, I don't have a crystal ball, so my predictions are based on my opinion of the trends I have seen growing in 2009 and looking at the medium to long term changes in the industry.

So, SurreyLets Sally predicts....

1) More sales stock will come onto the Market in spring 2010 inspired by the reports of property price increases in Autumn 2009. Expectations will be high.

2) As more "Reluctant Landlords" reach the break clauses in their Agreements, they will be putting the property on the market for sale. The over supply of properties that forced rentals to drop will be no longer and the lettings market could see a shortage of rental stock pushing the prices up, though not to the peaks of 2007

3)The increases we saw in sales prices in the Autumn of 2009 will show this was a blip in statistics and whilst properties will sell, the prices will increase slowly and steadily from the bottom of the market, but the increases from Autumn that were borne out of a shortage of supply will not achieved.

4) Long Term rentals will continue to grow in popularity and be viewed as a sound long term plan as an alternative to home ownership.

5) The Buy to Let market will be a growth area with many first time Landlords entering the arena. Most first time Landlords will be people in their 40's who having sold their home will plough the equity into a small portfolio and opt themselves for a long term rental as part of a wealth management scheme. This should feed the rental market with much needed stick in the flats and family homes market.

6) The Corporate Lettings Market will continue to see a decline in corporate Lets as several companies are paying home allowances instead. Once in charge of their spending families will be more prudent in negotiation for properties and this will continue to affect rental prices down in the 5 - 8K pcm market. Whilst several companies are now recruiting from overseas, the higher budgets are in short supply.

As mentioned at the beginning of the blog - this is just my opinion based on trends I am seeing in the Surrey Market place.

I would love to hear your comments and predictions for 2010..........

SurreyLets December Newsletter

Please Click Here for the DDecember Newsletter
http://archive.constantcontact.com/fs079/1102643164363/archive/1102860749361.html

RENTALS SET TO RISE

Some good news for Landlords - Its looks like rents are set to rise next year as the number of properties put on the rental market droped to levels not seen since 1998.

Rental prices initially dropped due to the influx of property entering the rental market from "Accidental Landlords" who did not want to sell at the bottom of the market combined with many investors simultaneously holding on to their properties.

However with the late summer and autumn increase of sales with several reported price increases some investors and most reluctant landlords are now selling and therefore the over supply in the rental market that initially pushed rents down, is disappearing.

This, of course, is impacting on prices and tenants no longer have as strong a bargaining power as they did."Here at SurreyLets we keep our finger on the pulse and watch local treads carefully thus enabling us to give you realistic relevant advice when it comes to Letting out your property.

If you are thinking of letting or have a property to let, I would be delighted to help you. Please call SurreyLets on 01483 282 470

The Prepared Negotiator

Having worked in the Lettings industry for a long time you realise that on the whole, Letting (and Sales) Negotiators are often ill prepared when conducting a viewing.

It has always been my aim to ensure a Negotiator is sent out with:

a) Business card and set of details
b)The Negotiator Essential Briefcase

Its my opinion that Negotiators should be able to show every property in its best light. This becomes critical as the winter months approach.

A negotiator should always arrive 5 minutes before a viewing, lamps and lights put on, a squirt of air freshener, any external doors you need to go through unlocked and ready for access. Preparing a property to show it at is best potential is key.

Essential Briefcase contents:

Air Freshener - A quick squirt of forest pine can blast away the smells of an empty closed up property, smells entice memories, musty is off putting.

Torch - As night falls there are dark spots that make it difficult to even find the porch light switch. Its essential that in a dark spot an outside light is on before the viewing commences for the Negotiators safety and so a client is not put off because they feel concerned about the dark. This is not limited to rural areas.


Shoe Covers - I am amazed that agents do not insist all staff have these for their Negotiators and their prospective tenants. In the wet weather even a good wipe will leave some debris on the shoe and not everyone wants to take their boots off when its cold. Shoe covers save any embarrassment and more importantly protects the owners carpet from dirty footprints.

WD40 - For the tricky lock or the rusty bolt on the back gate or shed.

A Light Bulb - When you show the property in the day you may not have noticed there was no hall light - a prospective tenant needs to be able to see and dark properties are not as welcoming.

A Compass - For the inevitable "which way is the garden facing?" question.

Box of Tissues - Anyone who has been in this role will know that at some point someone wants to use a loo in a property. If the property is vacant there may not be loo roll. It makes you stand out from other agents if you are prepared.

Camera - If you spot something you think your client needs to be aware of from wasp nests to leaks- a photo now saves another journey later.

Paper, marker pen and sticky tape - maybe leave a note on a communal door if you want to nip up to the flat before hand.

I know this may sound excessive, however being prepared and being able to cope with any situation makes the difference between a poor agent and a good agent. It shows a level of professionalism and that the Negotiator is taking pride in ones job.

Responsible referencing

The Property Ombudsman has reported a surge of complaints relating to tenant references thus indicating that some Letting Agents are failing to meet their obligations under the Property Ombudsman's code of Practice.

Christopher Hamer was recently quoted for an Article in The Negotiator magazine, in which is stated " I am dealing with a significant number of cases bought by landlords who are concerned about the reference details provided to them by Letting Agents. This reinforces the importance for any letting agent to firmly understand what their obligations are under the Code of Practice and what they should see as best practice if they are not members"

Sally Asling, director of SurreyLets agrees that referencing is not always everything it should be in the industry when agents attempt to cut outsourcing costs and take referencing themselves.
"We live in a world now where financial information is all stored and credit history is ever important. Agents not doing credit referencing are missing a hugely important chunk of detail that is essential. In my opinion whist Christopher Hamer stated in his comments in Negotiator magazine that he believes a bank reference is necessary, I would disagree. Money in the bank can be here today and gone tomorrow. What landlords need to know is if the applicant is credit worthy, and for that it needs to be outsourced to a specialist referencing company."

"At SurreyLets we outsource our tenant referencing to Endsleigh who do a full comprehensive check on every tenant. This includes the following:

Affordability Check - Income validation score indicates the degree of confidence in the income stated by the applicant. Affordability of the rental share using the income validated by the income references

Authentication - Incorporates Voters Roll check and Experian's Authentication score

Adverse Data - Public information check for CCJ's, Bankruptcy and voluntary arrangements

Fraud Check - Score of Fraud Potential

Tenancy Score - The score indicates the likelihood of the applicant to default on their rental payments

Income reference - Where the applicant is employed, self employed or retired, income and employment

Landlord reference- Previous Landlord is contacted to establish if there was any payment issues or any dilapidation's were recorded

Decision - An automated decision using sophisticated scoring technology to increase decision speed

Sally Asling further adds "Once a tenant has been referenced and accepted by this procedure, Endsleigh are able to offer the Landlords a rental insurance for a year for under £100.00 (terms apply). I am confident that our references are thorough and that the Landlord is then able to make an informed decision "

Fabulous House in Effingham Junction / East Horsley to rent....

SurreyLets are proud to have on the market a modern, bright and spacious family home situated within a short walk of Effingham Junction Train Station and set in the catchment area for the Lord Howard of Effingham School.

As you walk into the entrance hall of this property you get a sense of space and proportion with oak flooring, high ceilings and doors from the hall that invite you to the rooms beyond.

The lounge is triple aspect and for me personally has imaginings of a family Christmas as the room with its high ceilings and good proportions scream a real Christmas tree! I don't know why, but many of the applicants I have shown have said the same things. Its a great space. Downstairs houses a modern oak and black granite kitchen with space for a generous proportioned breakfast table - perfect for family living.

Downstairs additionally offers three further rooms and a modern spacious downstairs shower room. The three further rooms could be a playroom, a study and a 4th bedroom -although this generous space is totally flexible and enough to satisfy a variation of uses.

Upstairs the high ceilings are still there so the feeling of space stays with you which is often not the case in a chalet style home. The Master Bedroom is generous in size with a feature window. There is inbuilt storage cupboards that provide practical storage and in the eves storage surrounding the room. The Master Bedroom has an en suite shower room with again is spacious and modern.

Upstairs is a further double bedroom of good proportion and a small single room which is a child's delight due to its in the eves build. The Family Bathroom is well laid out with both a shower cubicle and a bath.

Externally the property has an enclosed rear garden, an integral garage and off road parking for 3 or 4 cars.

At £2500pcm this represents excellent value and is available immediately - if I were looking right now I would be tempted to be in before Christmas (think back to the lounge!!)

If you would like to view this property, please call SurreyLets on 01483 282470 or e-mail us at info@surreyletsonline.co.uk

Lettings

Read the Latest SurreyLets E-News here SurreyLets October E-News

The Importance of Letting Agents holding Client Money Protestion Insurance

Letting Agents once again in the News

September bought Letting Agents once again to the forefront of the news. Geoff Lavery who had a Martin and Co franchise owed close to 100K to landlords and Tenants and it is thought that most of the money being tenants deposits may not have been covered by a tenancy deposit protection scheme. Another agent also owned by Lavery running between May and July also ceased trading. This firm was a member of the National Approved Letting Scheme (NALS) and is the fifth case where problems relating to tenants’ money have been uncovered in the Martin & Co franchise network.

How good is the Letting Agents Regulatory Body?
One can only hope there was client money protection insurance in place for the poor Landlords that will have to contractually repay the tenants their deposit. Martin and Cos CE Ian Wilson was critical of NALS, which he claimed had failed to produce evidence of its client money protection scheme. He also said that NALS had continued to accept Lavery’s membership, but had apparently not examined his accounts. He also said that while NALS had suspended Lavery’s insurance once alerted, it had failed to put notices in the local Chester press to warn landlords and tenants.

Client Money Protection Insurance
SurreyLets is a member of A.R.L.A. To gain membership to A.R.L.A we have to hold Client Money Protection insurance and a valid certificate of this is held by the governing body at all times. In addition to this there is a stringent accounting reporting system in place to ensure the member is following its bye laws that are in place to protect Landlords and Tenants. A.R.L.A are incredibly strict with their members about current valid documentation.

What a prospective Landlord should look for
As a prospective Landlord your agent should be showing you proof of its membership to a Professional Body and evidence that it belongs to The Property Ombudsman – after all, you want to ensure BEFORE a contract starts that there is readdress if you are not happy with the service provided or if you are concerned about the protection of your money.

What deposit scheme should my agent be using? What questions should I as a Landlord be asking?
There are no rules as to which deposit protection company an agent should use. The DPS is a free service to Landlords and Tenants and Landlords and Tenants can check on line to ensure the deposit is protected. The TDS and mydeposits.com work in a similar way, but these schemes are “Insured” which means the Agent may hold onto the deposit. This is where it is crucial to ensure that the Agent is holding full client money protection insurance because if they don’t renew their insurance and hold your money without Client Money Protection, you are putting your money at risk. When monies are sitting in a client account – it only puts temptation in the way if an agent is struggling to pay the bills.

SurreyLets uses the DPS where the money is passed over and held by DPS for the tenancy duration. SurreyLets director Sally Asling believes this demonstrates to the client that there is a degree of transparency as to where the deposit is, and as an agent we are operating best practice in not holding onto deposits longer than necessary as the guideline for dispute are transparently clear”

What is social media and what does it have to do with your business?

Jonnie Jenson wrote this artical on Social Media using SurreyLets as a case study and has been reproduced in my blog with his kind permission. Jonnie Jensen is an internet marketing advisor. He works with businesses to help them match their internet marketing with their business objectives

In case you hadn’t noticed the internet has changed. It is no longer just searching for something and then reading it or buying it. Now we connect with people and companies. We share our pictures on Facebook and our interests on blogs. We comment on other people’s articles and shout about poor customer service. You have probably heard of Facebook, Twitter and YouTube. In actual fact there are many more and today they are defined as social media. But these are just for DJ’s and kids right? You are probably asking “what do they have to do with my business?”

The answer is they are the future of your business success. Nearly 19 million UK residents are on Facebook, 4 million are on Twitter. It has overtaken porn as the No 1 internet activity. Your customers and prospects are using these services. In this article we are going to look at how you can get started using social media and provide insights for your success.

You’ve already got a website – so what?
It is no longer enough to just have a website. Social media platforms build awareness, boost business and serve as low cost/no cost marketing tools. The search engines pull in results from them and are more likely to find content about you there than they are your website. If you want to influence the purchasing decisions of people then you need to be part of the conversation. It is all about establishing trust.

People base their decisions on your reputation and recommendations. When they search your name they will see what you have said and most importantly what others are saying about you. This recession and the backlash against corporations is the chance for start ups and small business to create relationships with customers, provide better more relevant services and beat the big name companies.

That may well explain what it is but why is it important for my business?
There are two main reasons why social media is important for your business. The first is that it supports the promotion of your website on search engines. Google loves social media sites because the content is conversational and therefore rich in everyday words that people use when they search for you. Having your own blog is the best place you can start.Your great content will then be linked to by other people in their blogs and Twitter messages and on bookmarking sites like Digg and Delicious. In basic terms this is how Google works; it finds relevant content and then rates it by how many other sites link to it. The more content you have on the internet, the more you will be found. Better still, your marketing efforts on the internet never die. It all references back to you and will provide a fistful of reasons for someone to choose you over your competitors. This is known as ‘long tail marketing’.

The second is reach. Your network of contacts is no doubt useful to you but it is nothing compared to what your online connections can do for you. Simply explained; if you tell 200 contacts something and they then share it with 200 contacts who then do the same, your message will have reached 800,000 people. That is why it is important for your business.

Case Study - Sally Asling of SurreyLetsSally Asling of SurreyLets came from a corporate background and was sceptical about social media.

Q: What services do you use?
I have my own blog plus I use Twitter Facebook, LinkedIn, Facebook, Flickr, Ecademey and PropertyTribes.

Q: How did you get started?
Started connecting my adverts on GumTree to my Linkedin, Facebook and Twitter accounts. Then I put out strategic messages on Twitter like “I need a one bed flat in Guildford” and the conversations I had with various people led to other referrals.

Q: What kind of business have you generated?
It’s not always first hand. I had a person contact me from Sydney who had been retweeted a message. After checking me out on Google they let a flat from me without even seeing it. It can be very random. Since I started in April I have made about £7,000 directly from Twitter.

Q: What piece of advice would you give anyone just starting out?
Write a personal profile of who you want to be. Think of words to create a catch phrase and then link that into everything you do.
www.surreyletsonline.co.uk
twitter.com/SurreyLets

Let’s Get Started
The single most important thing to remember is that your success will be based on the trust you develop with your community. Share your knowledge and your contacts freely - don't just sell.

1. Define your objectives
Establish what you want to achieve and what you want to become known for. This will help you focus on your audience, content and results

2. Start listening
Go out and look for the people who are talking about your products and services. Just search on Google blogsearch, Socialmention.com and Twitter. Start a spreadsheet to note where these conversations are happening and to record info on who is out there. I suggest you add the RSS feed of the search results to a Google Reader account so you can easily revisit all the content.
3. Choose your tools

You don’t need to use every service to start with. Pick a couple and make sure you complete your profile with a good quality picture, honest information, a link to your site and keywords about your service. Chris Brogan (chrisbrogan.com) describes the process as having a Homebase and Outposts. You can find further information at my blog http://tmandi.co.uk/raw

Start with your own blog – home base. This is where you drive people back to. Make sure you update it regularly. I recommend you use Wordpress.org to add a blog to an existing site. If you want an easy web based option go for Wordpress.com or Typepad.
You then use other services – outposts – to interact with people and direct them back to your homebase. There are many to choose from including:
• twitter.com
• facebook.com
• youtube.com
• linkedin.com

4. Make some content
Use your Listening results to see what people are talking about. The articles and discussions with the most amount of comments are popular topics. If a subject is unrepresented then this could help you stand out.
5. Promote your content

Use your Outposts to link to your Homebase content. Update your status and find other blog’s, forums and groups where you could talk about the subject as part of an existing conversation. If you are starting a topic open a discussion that encourages people to debate the subject.

6. Measure results
Social media is measurable. Use all the available metrics and refer back to your original objectives. You can measure:
• Number of followers
• Number of links to your website/blog
• Number of times a message is re-Tweeted
• Views of your video
• Total comments
• Total clicks
• Revenue growth

Any result measured over time will give you an idea of success. If you aren't measuring traffic to your site then set up Google Analytics – it’s free!
Just get started
It doesn’t matter where you start. Just start. Be yourself, add value to others and don’t say anything you might regret in the future.
Follow Jonnie Jensen
• http://tmandi.co.uk/blog• Twitter.com/jonniejensen
• LinkedIn.com/in/jonniejensen
Jonnie Jensen is an internet marketing advisor. He works with businesses to help them match their internet marketing with their business objectives. To kick start your internet marketing email jonniejensen@tmandi.co.uk or call 02032862306
www.tmandi.co.uk

Mini joins the SurreyLets fleet

SurreyLets welcomes the Mini to the companies fleet. The Surreylets mini is distinctively recognisable with the SurreyLets logo displayed.

SurreyLets director comments "Branding is very important. By clearly identifying the company on our vehicles it provides us with constant marketing as the cars and vans drive round the area. Some clients and tenants also welcome the security of being met by someone clearly identifiable by the fact they are in a branded vehicle in addition to which all SurreyLets personal carry ID"

Mini Car - Maximum Service

SurreyLets purchased the Mini through Vines at Guildford. SurreyLets Director, Sally Asling comments.

"The customer service I received from Vines Mini of Guildford was incredible, particularly from sales executive Matt Thoms. The service was second to none from the moment I walked in with my enquiry to the moment the car was received. I have been really impressed, which takes a lot as I have high standards when it comes to expectation in the service industry. I had the pleasure of being greeted by Matt Thoms, one of the sales executives, on my initial visit. I described to Matt what I wished to purchase as a company fleet car and Matt expertly helped navigate through all the car and purchase options. Within three three weeks from purchase to delivery I received e-mails updating me on the progress of the car. Matt even got the mini fully sign written for delivery. Nothing was too much trouble. Upon collection of the car I was given a clear concise run through of all the gadgets, right through to Matt tuning in the phone! In this day and age the service we receive does make a huge influence on what we as a consumer decide to buy and ultimately where we decide to buy it from. Matt and his team were consistently professional, warm and welcoming, helpful, informative and genuine. It has been an absolute pleasure to do business with Vines of Guildford and I will not hesitate to buy further cars from them and recommend them to anyone looking to purchase a mini"

SurreyLets are now ARLA Members

1st September 2009
SurreyLets have now joined ARLA, The Association of Residential Letting Agents.

ARLA members follow a strict code of practice and are leading the campaign to ensure all Letting Agents become licensed. For the consumer this is excellent news, demonstrating the Agent has the right qualifications and knowledge, the right insurances, client money protection and have an independent redress scheme in place.

SurreyLets has joined the Property Ombudsman

SurreyLets is now a member of the Property Ombudsman - (Membership D04077)

Lettings and property management agents who join the TPO subscribe to the Code of Practice for Letting Agents. This is part of the process of becoming a member of ARLA, the Association of Residential Letting Agents.

SurreyLets believe in operating fairly and professionally giving advice and service within codes of best practice. SurreyLets it is behaving in a way which is fair to the consumer by offering transparancy and where the consumer may have a further body to go to if there is a problem.

Sally Asling Director of SurreyLets comments. "I am still amazed by the lack of information a consumer entering the world of becoming a Landlord has. It seems the process is not been fully explained and neither is the service they should expect and what procedures are available. It also seems consumers are not aware of what they should look for in a letting agent and are not aware of there being a benchmark for minimum expectation. I hope that by joining the Ombudsman I am demonstrating to my clients that we do follow a code of practice and what they should expect as a consumer"

Following Text from TPOS website (click link to visit site)

The Property Ombudsman provides a free, fair and independent service for dealing with unresolved disputes between sales and letting agents who have joined the TPO and consumers who are actual or potential buyers or sellers or landlords or tenants of residential property in the UK. The Ombudsman is a member of the British and Irish Ombudsman Association and follows the standards and rules of the Association. The Ombudsman is totally independent of agents and reports directly to the TPO Council which has a majority of non-industry members.

The Ombudsman's role is to reach a resolution of unresolved disputes in full and final settlement and, where appropriate, he will make an appropriate award of financial compensation or other action for example make an apology. Therefore, if you feel that you have been disadvantaged by the actions or inactions of a TPO member, you have access to an independent dispute resolution service and can be certain of receiving a fair and reasonable judgment of your complaint.
A Consumer Guide, available in the offices of all sales and lettings agents who have joined the TPO, informs complainants that:

'Your complaint may be considered by the Ombudsman, if you believe that the agent has:
infringed your legal rights; or
failed to follow the rules and obligations set for agents under any code of practice to which they may subscribe; or
treated you unfairly; or
been guilty of maladministration (including inefficiency or undue delay)
in a way that results in you losing money or suffering avoidable aggravation, distress and/or inconvenience.'
The Ombudsman will not normally review a case until the internal complaints procedure of the agent has been exhausted

SurreyLets Newletter

SurreyLets is making the most of e-marketing through its Monthly Landlords Newsletter and Weekly Available Property Listings for Tenants. With the power of modern technology and the fact that more people use on line resource to find a property than ever before, the newsletter can be circulated direct to all Landlords and Tenants and circulated using social media by posting the newsletter on Twitter and Facebook.

As far as SurreyLets is aware, no other Letting Agency in Surrey are using the power of social media to market its property and generate more awareness in its newsletters

To view a newsletter, please click the following links
Landlords Newsletter: http://bit.ly/Hm0cj
Tenants Newsletter:

Stunning Annexe in East Horsley

SurreyLets are delighted to be marketing a detached Annexe in East Horsley, Surrey. This beautifully presented one bedroom annexe situated in the grounds of the main house beyond electric gates and surrounded by Woodland and sits adjacent to a golf course.

The Annexe is immaculate with accommodation comprising of a modern stylish kitchen offering all appliances, with the addition of a utility room situated downstairs for laundry. The open plan lounge and dining area is spacious with a light airy feel. With its wood flooring and neutral decor this space is a place to relax. The double bedroom set in the eves has sleeping space and a walk in dressing area. The Annexe also has a modern shower room. Externally the Annexe offers its own parking space and private garden area

The Annexe is within walking distance of both Effingham Junction train station and East Horsley Train station. The property is a short drive of the A3 which offers connection at Junction 10 to the M25. The village of East Horsley offers a true village feel with strong local community, pleasant shopping parade which includes local library, banks and medical centre as well as grocery shopping, craft shops hairdressers and boutiques. This property is situated adjacent to the Drift Golf Club and is surrounded by Peace and Tranquility. On the doorstep you are surrounded by pleasant country walks in the Drift, Effingham Common and Great Riding's Woodland. This property is a real rare gem and should certainly be viewed to appreciate what it and the area it is situated within has to offer.

Superb 5 bedroom family property for rental in Cobham, Surrey

SurreyLets are proud to be marketing a superb five bedroom property in the lovely Ashcroft Park area of Cobham, Surrey. This unfurnished property comprises of 5 bedrooms, 3 bathrooms and 4 reception rooms and is situated at the end of a quiet cul de sac.

Full property details http://bit.ly/Thbhs

Cobham is a well regarded area, easy accessible for the A3 and M25 road links, is situated between London Heathrow and Gatwick airports and offers a plethora of excellent private and state schooling. The ACS International School is a short drive from the property as is Parkside, Feltonfleet and Notre Dame. Cobham provides a varied shopping centre with boutique dress-wear, craft shops and coffee houses as well as a large Waitrose and Sainsbury's for grocery shopping.

The property offers a family great living space that is both flexible and spacious. A fine example of a family home that works on all levels, from its family space, lovely garden and the fact its located at the end of a quiet cul de sac which means children can play on the ample driveway and front areas within relative safety.

Accommodation comprises of a through living room with marble surround/granite fire place. Double doors into a wood framed “Life” conservatory. Dining room with double doors into the conservatory. The fully tiled conservatory can be used all the year round as comfortable living space as it has the benefit of full underfloor heating which is fully programmable. The conservatory is fully furnished with a dining suite of cane table and four dining chairs. Also a matching 3 seater sofa and 2 large armchairs with associated scatter cushions, together with a coffee table and 3 shelf plant stand in matching cane.The conservatory is fully shaded with Sanderson roof blinds and full length Appeal conservatory roman blinds in Pinoleum at all the windows. Roof vents open automatically when the temperature rises above a set level and close automatically when it rains.

Additionally here is a family room or Study downstairs with a fully fitted shower room/cloakroom next door which make excellent guest facilities.

The kitchen is fully fitted and complete with black granite worktops. A Britannia range cooker and hood is also provided along with other top quality kitchen appliances. A separate utility space provides laundry facilities and access to the double garage which has the benefit of a remotely operated, motor driven, up and over door.

The master bedroom has an en suite bathroom. The en suite bathroom has the benefit of built in Goodwood maple wood storage cabinets finished with a granite surface and basin surround. Villeroy and Boch basin, WC and bath, Grohe bath and power shower fittings and Huppe shower screen. Fully tiled with Villeroy and Boch ceramics.

A further family bathroom with Vernon Tutbury sanitary ware and shower screen, Grohe power shower. Fully Tiled.

4 further bedrooms.

The property is protected by Banham locks throughout and a Banham burglar alarm system.

The well established rear garden has been tastefully landscaped and incorporates a large fully stocked, “natural” pond. To the front the property has a generous driveway that can accommodate several cars.

For more information regarding this property please contact SurreyLets on 01483 282470

A lovely family home in Effingham Junction Available for Let

SurreyLets are pleased to have available an immaculately presented family home situated in Effingham Junction for £3200pcm

Full property details http://bit.ly/4vW0O

Effingham Junction is better known for its train station and fast links into London Waterloo, however Effingham Junction is an ideal location for a family. The areas of East Horsley and Effingham offer excellent private and state schools and is in the catchment of the highly regarded Lord Howard of Effingham, and primary schools in both Effingham and East Horsley. For the commuter the trainlinks to Guildford or London are excellent. By road the A3 / M25 motorways are within a short drive.

Effingham Junction is surrounded by countryside offering country walks over Effingham Common and Great Ridings Woodland. Additionally the shopping centre in the village of East Horsley offers a range of shops including a library, butchers and bakers. Further shopping facilities are located in nearby Cobham.

This property is a 3 / 4 detached family home. The house is just a few years old and retains the feel of a brand new home, offering high ceilings and good sized windows the property feels light bright and airy. The Kitchen is well equipped and stylish with plenty of space for a large table for informal dining with family and friends. The formal lounge is spacious and had doors that open onto the good sized rear garden. Downstairs accommodation offers a further three rooms that could be a formal dining room, study and fourth bedroom though the attraction of this property is that it can be flexible in the way in which the occupant uses the rooms. Additionally the property has a spacious downstairs cloakroom.

Upstairs the property has two double rooms with fitted cupboards and ample storage and a further single bedroom which is an ideal child's rooms as the layout of the beams make it an exciting and interesting space for a child. The master bedroom has an en suite shower room, and there is in addition a well designed family bathroom.

With an integral garage and off road parking, the property can easily accommodate parking for 2 /3 cars.

For a viewing on this property, or similar properties in this area, please call SurreyLets on 01483 282470

Skype SurreyLets

SurreyLet's is now live on Skype and can be connected on Skype using the I.D SurreyLets

In this Internet-savvy age, Skype has come to the forefront in the telephone business. This technology allowing the user to make voice telephone calls over an existing Internet connection.

Skype users can contact SurreyLets anywhere in the world for free Skype calling - which SurreyLets believes is a real benefit to overseas Landlords, making us more approachable and contactable than our competitors.

If you are not already on Skype - a skype account is absolutely free. You only need to download the software from the Web site, hook your computer up to a broadband Internet connection, and attach speakers and a microphone or a headset that combines the two, and you’re ready to go!

Looking forward to speaking / messaging over skype.

The SurreyLets Van is now out and about!

SurreyLets is now more noticable than ever in the Surrey Area thanks to its new vans that are driving around Surrey!

Have you seen it yet?

Udate on the OFT vs Foxtons case

ARLA (The Association of Residential letting Agents) have just sent out the text below to its agents. I wanted to circulate this to all my Landlord clients who have been waiting anxiously for over a month for news. Indeed, it was time a ruling was made.

For the reader of this part of my blog, the text content has been written by ARLA / NFOPP and not by SurreyLets

Text from ARLA

As you may have heard, the Judge in the Office of Fair Trading v Foxtons renewals case, today handed down his judgement. Ian Potter, ARLA Operations Manager, was in court to hear the judgement as was one of our Legal Advisors. Although the Judge stated that clauses in the Foxtons agreement were unfair, this was because they did not make the renewal terms clear.

Contrary to misleading information that has already appeared in the press, the ruling has not stated that renewal fees are unfair but that these fees must be explicitly laid out.

Set out below are a Press Release, links to the Judgement and most importantly, a Practice Note which sets out our initial thoughts and help to Members.


ARLA has sent out the following Press Statement.

FRIDAY JULY 10 2009

In response to the High Court judgement on the case of the OFT vs. Foxtons, Ian Potter, Operations Manager, of the Association of Residential Letting Agents (ARLA) states as follows:

“We welcome Mr. Justice Mann’s clarification on the issue of contract transparency in relation to letting agent fees. Contrary to misleading information that has already appeared in the press, the ruling has not stated that renewal fees are unfair but that these fees must be explicitly laid out. ARLA strongly supports the need for transparency and our members adhere to this premise though a strict code of practice, which binds them to ensuring all fees and charges are made clear and are reasonable.

“The lettings market has changed irrevocably in recent times. ARLA’s members have recognised this change by launching the licensing campaign for lettings agents which is founded on the need for improved standards, best practice and redress for consumers. Today’s ruling will serve, therefore, as another building block in our aim to create strong foundations for the lettings market as we re-assess the provision of our services and how we communicate them.

“To quote the clause E.III of the Code of Practice: “ The Terms of Business used by a Member Firm must be clearly presented and written in plain and intelligible language and endeavour, where appropriate, to take account of the Unfair Terms in Consumer Contract Regulations .”

“In effect ARLA members have always been encouraged to follow industry best practice and to provide information on fees and charges in clear and transparent manner.

“The letting of a residential property is, by its nature, a complex transaction centred on the emotive subject of people’s homes. A key element of ARLA’s licensing campaign to professionalise the sector is to increase consumer understanding of this complex process. We once again encourage landlords and tenants to only choose ARLA members. This is because they are advised to make all fees and charges clear and reasonable and are subject to a consumer complaint scheme if they are not.”



2. PRACTICE NOTE

OFT v Foxtons- Practice Note

Prepared by PainSmith Solicitors for NFOPP

This is a short practice note to assist members in dealing with potential changes in the way they seek fees as a result of today's decision in OFT v Foxtons. Agents who wish to understand the background of the case in more detail should await a separate communication from ARLA and NAEA which will deal with this.

Background

The OFT has been involved in legal proceedings against Foxtons Ltd in relation to 3 particular parts of their standard terms of business:

1. The charging of commission on renewal or extension of a tenancy even if Foxtons have no involvement in negotiating or dealing with the renewal;

2. The charging of commission where the landlord has sold the property with the tenant in situ and the tenant renews or extends the tenancy with the new landlord;

3. The charging of a commission where the landlord sells the property to the tenant.

The OFT has contended that the clauses giving effect to these charges are unfair and are also not written in 'plain and intelligible language' contrary to the provisions of the Unfair Terms in Consumer Contract Regulations.


Mann J has today given judgement on this contention. He has made a declaration of unfairness in relation to some aspects of Foxtons terms but has not made any further order.


The Ruling

Mann J has stated that Foxtons' clauses relating to commission on sale of property to a tenant or occupier are unfair. The ruling makes clear that these clauses will generally always be unfair where they are included within a lettings terms of business at the outset of a letting. Any effort to charge commission on sale to tenants would need to be done by way of a sales agreement at the time of sale and would therefore really require the agent to have involvement in the negotiation or arrangement of the sale.

Mann J has stated that Foxtons' clauses which seek to charge commission on renewal where the landlord has already sold the property to another landlord are probably unfair.

Finally, Mann J has stated that renewal commission clauses are unfair where they are not expressed in plain and intelligible language and not brought directly to the landlord's attention at the time they enter into the terms of business. He has stated that Foxtons terms are unfair as they are not expressed in plain and intelligible language.


Mann J has not stated that all renewal commission clauses are unfair and nor has he stated that nobody can rely on them. He has not made any injunction against Foxtons or anyone else stating that these clauses must be withdrawn or that cases based on them cannot be taken. His ruling does mean that County Courts must follow the principles set down in his ruling. Members should take legal advice before seeking to rely on any of these clauses or those of similar type in the Courts.

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Testimonials

SurreyLets is always proud and pleased to get a positive testimonial from my Clients. Here are just a few on the ones I have had recently...


It has been a genuine pleasure to have Surrey Lets as one of our service providers. Sally has tremendous experience in the lettings arena, and is truly committed to offering exceptional service to both Landlords and tenants. She offers a highly personal and professional service which is what makes her stand out in the over-crowded lettings world.
Vanessa Warwick / 4wallsandaceiling

Surrey Lets provided an excellent service and took away all the worries of letting my property. They went to great lengths to find tenants, and once they found them, they did everything to sort out any problems however big or small.
Mr Heard - Landlord

Every time I called Surrey Lets they went the extra mile, even out of hours. Refreshingly good service. Mine was a complicated home move; Surrey Lets made it simple.
Mr Poulton – Tenant

"This time I failed to let my Guildford studio flat through the usual channels, and then I found Sally at SurreyLets. She introduced excellent tenants and handled the whole business with courtesy and efficiency."
Mrs M - Guildford Landlord

We would like to thank you for the efficient, personal and friendly service that you provided with finding us a suitable tenants.(they are amazing!!)
From completion to our first tenant was less than a week, therefore this worked out to be very cost effective and profitable. We have been very impressed and would recommend you way above any high street agency. We wish you all the best for SurreyLets

Mr M & Mrs J Smith, Guildford

The Green Green Grass of home. Cannabis Farming in the Private Rental Sector.

I have written a few blogs on the rise in Cannabis Farms in private rental accommodation. However this week I received a call from a Landlord in Surrey who had been alerted by neighbours (not his managing agent!) of their suspicions. As the police attended, the remaining tenant was seen rushing away from the scene. Upon entering, it was plain to see, that the property was indeed another statistic of Cannabis Farming in the Private Rental Sector. It seems to be happening more nd more in Surrey.

I do not use the word devastation or devastated lightly. The former being the state of the property the latter the state of the Landlord. What choked him was entering his child's bedroom that still had all the trappings of a nursery in its decor had been vandalised beyond most of our comprehension.

A beautiful, normal family home, turned into something that felt somehow corrupt.

In the pictures in this blog you will see the ducts that the tenants have installed to vent the property, these go up the chimney. You will see the holes in the walls that have been butchered to accommodate these vents. Floors covered in plastic with mounds of soil that had leaked and penetrated the wooden floors and carpets beneath. The bolt holes across the ceilings where high voltage heat lamps had hung, and a mountain of wiring. Every room demonstrating tens of plug sockets overloaded as the tenants had bypassed the meter and tapped into the mains, bhich has since been cut of by the supplier.

The stench of cannabis, or soil and of damp hung in the air and penetrated the very fabric of the building.

It begged one question to me. How on earth did these people get to rent this property?

Times are tough in the lettings market. Landlords are keen to get empty properties occupied, agents desperate for the deals. Does this make our vision a little less clear, do we take slight risks. Is the temptation of cash just too much?

In this case not. The references, I am told, seemed OK. There was a bank account and rental was being paid. However this is common, after all, no criminal actually wants to appear as one!

In my experience, there are warning signs to watch out for.

1) Potential Cannabis tenants like properties to be a little more secluded, but with access to main road links. (This property had open fields in front of it and was detached, this is not unusual)

2) Properties are often in communities where comings and goings are not going to be questioned. However the property needs a degree of privacy. Often drive in garages are a plus as are older style properties with a chimney

3) One of the first things the tenants do on a viewing is look at the electricity meter. They are looking to see if it can be over ridden.

4)The tenants typically seem to have a beauty business of fast food business and the property is for either staff or them with a large extended family.

My advice of Letting a home to combat this?

Agents need to be absolutely aware of who it is renting a property. Take NI number, driving licence number and a copy of a passport, these are "traceable" Ids. A 6 week deposit does not touch the surface of this sort of damage.

Landlords ensure you have good insurance that would cover you for this eventuality.

Don't be tempted by cash deals unless you know the circumstances in which you are accepting it. Cash over good reference checking and ensuring the agents see genuine ID a false economy.

Lastly, trust your instinct. Its normally right.

Canabis farming in the private rental sector is alarming and can be avoided. Look out for some of the behaviours listed above and please ensure the checking is thorough and there is tracable ID taken.

For any advice about Letting your home and how to avoid the pitfalls, please call SurreyLets

OFT vs Foxtons - Update 8th May 2009

I have spoken to David Oliver at the National Federation of Property Professionals this morning who has advised that the Foxtons / OFT case was heard on 27th April and the Judge has asked for time for the case to be considered before making a verdict. The decision is thought to be expected at the end of May. Watch this space!

Avoid an empty property creating you a void period

Excess supply and falling rents is a ‘pattern replicated over most of the UK’ according to the FindaProperty rental index. There is an increase in properties being let by “Accidental Landlords” who have decided not to sell and let and as a global recession is stronger in Europe than the UK there has been a decline in Corporate Relocation, there has been more empty stock in the upper end of the rental scale, all of which has contributed to the falling rents.

So as a Landlord - what do you have to do to ensure your property is the one that is getting the viewing's and most importantly, securing a tenant?

SurreyLets are keen to explain to Surrey Landlords that in your property needs to stick out from the crowd. If the property is furnished, it should be staged to best demonstrate what rooms are used for and what space is available. Property should be sparkling clean and neutrally decorated. Externally the property should have kerb appeal, clearly identifiable with a number or a name and the front looking really smart and well cared for.

Once you are satisfied the price is right and the presentation perfect and the property is still untenanted, SurreyLets suggest you try some tenant incentives like a "rent free" period (after all - if the property is going to sit empty for another month two weeks free is irrespective if your tenants move quickly) or a "cash back" upon checkout at the end of the tenancy. I know of one Landlord at the moment who has a holiday let that's sitting empty, so she is advertising a weekend away to her tenants, another Landlord in Cobham offered 2 weeks rent free and within days the property was let above others in it price range - do anything to stand out and attract prospective tenants to your property.

The way we do business is changing......

The way in which we do business is changing. As a nation we have gone from the cottage industries where we shopped locally and knew the name of the bank manager and only did business with those who we knew and trusted, to the 90’s world of overseas call centres and automated calling. The world wide web offering making the world a contactable smaller place, the rise of the large and faceless corporation and the relief when we heard we were only 5th in the queue to now, 2009, the last part of the first decade in the third millennium. The phrase “Third millennium business” is becoming more frequent, but what actually is it and why is a Letting Agent writing about it?

Third Millennium business will bring together the era of Web2 and the rise of social media. As we are more conversant in technology than ever before we will use the web to upload and share more. Facebook was one of the largest rising social network groups amongst middle aged people. We use the web to find businesses and services and to find and share information with other people. We use people in our friend groups and contact lists on social media sites to link into business and products. The faces and contributions of people on these sites become people we trust and want to do business with. Third Millennium business cuts out the larger corporations because people buy people first and gravitate to do business through people they trust. We no longer automatically trust the suited corporate bankers, the hard sales person and the politician. This form of Authority is not what it once was, we want to do business with people we trust, people with a profile, we want honesty, transparency, accountability, communication. We want to deal with people

SurreyLets uses these principles in its marketing as an online virtual company. It offers a complete lettings and property management service, corporate and private relocation, home search services and add on products like rental guarantee. You deal with the director, Sally Asling, who is a Fellow member of ARLA and been in Lettings for 18 years has an impressive CV covering all aspects of the industry. SurreyLets is the vision of Sally Asling who wanted to offer a more personal and professional service to Landlords and Property Investors. Recognising the changing pace of third millennium business SurreyLets can be found on Twitter and posts current and relevant information and industry news via the means of blogging. SurreyLets deals in real time internet mediums so that wherever you are in the world, contact is easy quick and simple.

Why is SurreyLets Different?

I am often asked why SurreyLets is different. To answer this, I need to explain a little letting's history first!

Having worked in this industry most of my working life, over 18 years I have seen the industry go through dramatic change. In the early 1990's when letting for the first time commercially was gaining a momentum and "Buy To Let" was leading the market through to today where we have an industry that is very different. I recall that there was not that much legislation to hand back in the early 1990's, and certainly very little regulation for Agents. Estate Agents were suffering in the Housing Slump of the late 1980's and were turning to letting's to be the new "Cash Cow" - after all, anyone could let a house!

This may have been around 18 years ago - but there is some argument to state that these patterns are happening again. But has the industry learnt its lesson? There well may be lots of legislative change, but is it being implemented by the masses of small start ups and who is regulating it? Or is it only discovered when its too late?

I also recall that when the sales market picked up in the mid 1990's when letting's legislation started creeping in that several Agents who were starting to again do well with Sales, dropped letting's like a stone. Suddenly all those management queries were too much trouble, all available staff were resourced back into sales and Letting's firmly had the place of the poor relation. Who suffered? The agents existing client Landlords. There were stories also in the 1990's of companies who did lettings closing, leaving clients stranded and in some scenarios taking the money held on deposit with them. Lets be under no illusion that with the rate of Lettings Agents opening, could these trends be repeated?

For many larger organisations in the realisation that letting's would provide a steady income stream, they began to invest in the Lettings side of the business. These companies invested in their staff and put them through courses offered by The Association of Residential Letting Agents who formed in 1981. ARLA became a voice to support letting agents and Landlords and to communicate, and make sense of, the legislation that came in fast and thick as the country saw the problems that had been created by the lack of regulation. The industry was without doubt improving.

However, for many larger corporate companies, it is my opinion that the balance at some point tipped and Letting's became a little too much focused on front line sales.It became a money making machine and less of an ongoing dedication to service and support. Companies separated the paperwork from the sales people and created letting's negotiators who were target driven, but knew little about the legislation or contract law. The back office staff often great administrators, but lacked in expertise. I spent considerable time in my career dealing with "Customer Service Issues" and top of the list of faults was internal communication. The offer was not always put through correctly, details were missing that became a problem further into the tenancy. As ARLA courses became more expensive, not everyone did them. Many branch staff would have no industry qualifications, sometimes each branch with just one member with a basic foundation knowledge. As the industry grew further some companies departmentalised accounts / property management / renewals etc and clients had several numbers to call for points of contact often spanning the length of the UK if not overseas! Whilst sales soared, service slipped. The administration centre roles employed untrained people often starting a career and placed them in charge of managing clients property. This is not the case with every agent, there are some agents that are larger and have retained the balance, there are some who have not.

Over 18 years the way a property is marketed has changed totally. I recall 18 years ago newspaper adverts were the only media used. Now, very little is gained from the paper and the main portals quote as many as 95 -97% of tenants are finding a home via the Internet. More recently mediums such as Facebook and Twitter are working as this deals in realtime. However, the corporate world for the majority holds is, in terms of its marketing, restrictive and the staff in branches are dictated to following the "same old" methods, that are rapidly becoming outdated.

Corporations in the mainstream are closed, controlling and selective. We are now seeing the rise of the Individual, the consumer is demanding that personal service is bought back, they want to know who they are dealing with and they want that person to be an expert in their field, not a one trick pony. They don't want to be "sold to", they want to have information so they can make informed decisions, they want to form a relationship with a person who they trust and have a mutually beneficial relationship.

So, why is SurreyLets different? Its different because I have experienced and lived through the changes in the industry. There are over 100 pieces of legislation that have been digested into everyday speak and even more invaluable are the thousands of scenarios I have practically dealt with. Anyone can learn, experience has to be gained. I can see what is wrong with the industry, and therefore have built my business on what I believe is right. I am an individual member of ARLA and SurreyLets is in the process of becoming a member body, because I believe that the industry should be regulated and the consumer should know that their agent has client money protection, insurance and are conforming to a code of conduct.

Above all I believe that we have to bring back good, honest personal service, we need to bring back the basics of being available and caring about what we do and caring about each other as people first and foremost. Its not solely about doing lots of deals without a second thought and most of all, not running away when things go wrong. This industry has its pitfalls that are sometimes unavoidable, but being able to help my clients through that is something I will do. I may not have a magic wand, but my knowledge, experience willingness to listen and help is what makes Surreylets different.

SurreyLets - this is the name
Understanding People, Understanding Property thats its aim!

Testimonial kindly provided by Vanessa Warick of 4Wallsandaceiling. 4walls are an inspirational property company embracing social media and inspiring people in property.

"It has been a genuine pleasure to have Surrey Lets as one of our service providers. Sally has tremendous experience in the lettings arena, and is truly committed to offering exceptional service to both Landlords and tenants. She offers a highly personal and professional service which is what makes her stand out in the over-crowded lettings world"

NLA reporting high rental arrears, SurreyLets advise Landlords to take rental insurance

SurreyLets are advising Landlords strongly to take out rental insurance on their new tenancies in the light of recent data from the National Landlords Association.

According to research from the National Landlords Association (NLA), 37 per cent of landlords currently have tenants in arrears.

• Over the last six months, 44 per cent of Landlords have experienced rental arrears. The NLA says this explains, in part, the increased number of repossessions and why a growing number of landlords are having problems meeting their mortgage repayments.

• When faced with arrears, the NLA's research showed that only 50 per cent of landlords attempted to recover the loss of earnings through the courts. This was because, while most landlords found the court system straightforward, many reported waiting times of over three months before their case was even heard.

SurreyLets Director, Sally Asling comments: "These statistics are worrying, Many Landlords have a tight margin between rental payments in and mortgage payments out, a month or two or arrears could present serious problems for a Landlord, and I am amazed that for approx £100pa Landlords are still not taking out a rental guarantee insurance, which is widely available"

Sally Asling further comments "SurreyLets have noticed a considerable number of Landlords trying to Let through the private ads and not re marketing through Agents. When questioned, Landlords are explaining that as rents have gone down, there is no margin to pay Agents fees, so they are trying to do it themselves. This is leaving them exposed as the quality of referencing is generally not so good, and the quality of tenants normally not so good as they are avoiding using an agent for a reason, and in my experience this is to avoid stringent reference checks that good agents undertake"

SurreyLets, offer via Endsleigh Insurance, several options for Landlords to purchase Rental Guarantee Insurance once the tenants have passed reference checks through Endsleigh. The cost can be from as little as £55pa on a single occupancy tenancy and from £99 for a property - quotes are available on request.

Sally Asling states "Here at SurreyLets we appreciate times are tough and money is tight. We appreciate the importance of letting a property quickly at a rental that can be viable, and above all we believe in putting the right tenant into a property where the tenant has undergone stringent vetting and we advise all Landlords to take out rental protection - for peace of mind. No agent Guarantees the rental, despite what service they offer, only an insurance product will do this. The statistics speak for themselves, so for a small amount of premium, it could be a saving grace."

For more information about SurreyLets please visit the website www.surreylettingsandpropertymanagement.co.uk or call 01483 282 470

SurreyLets - Interested in the outcome of the Foxtons VS OFT case

Following much criticism from Landlords about Unfair Terms in Letting Agents contracts, the Office of Fair Trading this week has welcomed a Court of Appeal judgement (OFT vs Foxtons) which is due to be heard on 27th April 2009

Foxtons, like many Letting Agents charge a renewal fee, normally equivalent to the Tenant Finding Fee, when a contract is renewed by the existing tenants. Landlords for many years have felt that a "Tenant Finding" or "Tenant Introduction Fee" should be a fee charged once for the service of introducing / finding a tenant. Indeed, at the end of that initial period, a Landlord is right to ask " why am I paying this again? I have paid it once". The agents argument is that the fee is calculated on "The gross monthly rental for the duration of the Let" - therefore if a Landlord is enjoying the benefit of that tenant that the agent introduced, they should have the right to the fee "for the duration" from the tenant.

The OFT issued the proceedings under the Unfair Terms in Consumer Contract Regulations 1999 in the early stages it appealed against a ruling by Mr Justice Morgan that any injunction on unfair terms could only apply to future Foxtons’ contracts - opposed to current existing contacts. The Court of Appeal has now overturned this ruling, confirming the OFT’s long-held view that it can take enforcement action in relation to both existing and future contracts.

The OFT issued the proceedings under the Unfair Terms in Consumer Contract Regulations 1999 in the early stages it appealed against a ruling by Mr Justice Morgan that any injunction on unfair terms could only apply to future Foxtons’ contracts - opposed to current existing contacts. The Court of Appeal has now overturned this ruling, confirming the OFT’s long-held view that it can take enforcement action in relation to both existing and future contracts.

However, what is interesting in this is if the OFT is successful in its case against Foxtons, then it will impact contracts issued by every letting agent the length and width of the UK. All contracts will be required to follow the ruling - which could have an overwhelming impact on the letting's industry. One firm of solicitors are already poised to help Landlords wishing to challenge their letting agents over renewal fees paid over the last several years. If the court agree that renewal fees could be paid back to Landlords on exisiting contracts - I question how many agents in the current climate will have the funds to survive this. One can only hope the court are sensible in the judgement to take into consideration the affect on all parties

There is also the question of Rent Collection and Management Fees being placed under scrutiny. Agents "typically" charge 10% for Let Only, 12.5% for Rent Managed and 15%+ for Full Managed. The latter two are normally collected monthly as an ongoing fee. However, it is clear that there is an element of the Let Only fee that is built into this, so it will call to question the ongoing % charging at 12.5 or 15% for the term.

The way I see it, the industy will have to adapt a different fee structure, with a % or Fixed Letting Only Fee payable once the tenants move in and a % taken monthly for ongoing services such as rent collection or management. This is a policy that SurreyLets use as it belives itself to be transparent and fair.

Complaints against Estate agents will shift to Lettings as Estate Agents venture into Lettings with little experience....

Complaints against Estate Agents have increased despite the property market slump state the Ombudsman for Estate Agents with one trade body reporting that they expect the majority of complaints to shift toward letting's in coming months.

ARLA - the Association of Residential Agents has sites that one of the reason for this is that many Estate Agents are shifting their business into lettings as house sales have been low. ARLA aslo stated that in their survey amongst its members as many as 76% reported that Estate Agents in their area had started to do lettings.

SurreyLets Director, Sally Asling comments " Its hardly surprising to hear that complaints are increasing, to be a good letting's agent you need to know a lot more than just negotiating an agreed rental price, which is what many Estate Agents think is involved. I hear many negotiators in the industry who have been roped into letting's to boost business think it really is as easy as getting an offer and agreeing a rental. One only hopes that their is a great deal of expertise in the branch to follow the let through correctly"

Ian Potter from ARLA states, "This is a big concern for Landlords and Consumers.....In order to make the transition from an Estate Agent to a Letting Agent, they need to have studied more than 100 different pieces of Lettings Legislation, and pass a minimum competency test to ensure their ability to advise clients to the required standards"

Sally Asling, SurreyLets comments " I agree 100% with Ian Potter. Estate Agents who do not have the required competency could be doing a huge dis-service to their clients and may not protect them because they do not have the right knowledge. Historically, I have seen Estate Agents issue the wrong tenancy agreements, not serve correct notices and not advice clients of the correct legislation leaving them with the problems further down the line."

Sally Asling is also keen to points out that Landlords who are most vulnerable are first time Landlords. As many homeowners cannot or do not want to sell in the downturn, they look at lettings instead. However the Letting's Market has undergone total transformation in the last decade and Estate Agents who are not trained in Letting's may not be equip to ensure they are able to service Landlords who will not be aware of legislation regarding the Law and Letting's or knowledgeable in issuing correct advice about Tax, Management, Notices etc. Letting's is an ongoing client relationship, and Landlords should look for expertise in their Letting Agent.

SurreyLets Director, Sally Asling has 18 years experience in Residential Letting's and Property Management and is a Fellow member of the Association of Residential Letting Agents. SurreyLets are dedicated to ensuring their clients receive the very best advice so they may make informed decisions.

Rental Insurance?

Rental Insurance? The sheer title sounds too good to be true. However it is difficult to predict whether your tenants circumstance will change at any point in the tenancy, and whether these changes will leave them unable to pay their rent in the future - even more so in the current economic climate.

Despite tenants passing referencing - and at SurreyLets we use Endsleigh Credit Referencing - where we have A1 references from the previous Landlord or Agent, reliable employment references, no adverse credit and the affordability check comes back fine - this to all intent an purpose is a snap shot of "here and now"
But circumstances change, sometimes without the tenant being at fault and hard times come. Not many tenants will want to lose their job and home in one month, they have to keep alive and as costs mount up with no income - the rent is the first to go.

As understanding as we may be. Letting out a property is a business. Most Landlords are dependent on the rental income for one reason or another. Whilst the agent or Landlord can start court proceedings on the grounds of no rent or persistently late rent, this takes time, and money.

This is why I am so amazed that Landlords turn down the opportunity of getting a good Rent Guarantee Insurance. For example, If I reference a single occupant through Endsleigh Insurance, and providing they fully pass the reference criteria, a Landlord could, through SurreyLets, take out a policy for 12 months from just £60 pa, or for more than one person from £99pa going direct to Ensleigh with satisfactory Endsleigh references. The policy covers Landlords for the rental payments (there is one month as the excess, but you can claim this from the deposit) until vacant possession or up to 8m on a 12m policy - and includes legal and expenses of up to 25K for repossession and rent recovery proceedings.

It certainly takes the sting (not to mention cost) out a problematic tenancy. For more information visit Surreylets or call us on 01483 282470

Twittering on!

SurreyLets is on Twitter - you can follow me, tweet me and get updates to your phone or PC about properties on the market or new tenant demands. Twitter is the best social media platform for business use to be put online so far - its benefits are endless. Its easy to use, its "Instant and real time" and what more you can pick it up on your phone or computer.

You may be wondering how Twitter is benefiting SurreyLets, because when I was told about twitter, I have to say I was rather skeptical. So I started to Tweet (That's what you do when you send out a message of 140 characters) I tweeted about the new properties I had on the market, about interesting property news and about what I was looking for to support my business. So far, I have had tenants through Twitter and contractors offer me their services too. Its early days - I have been twittering for only 14 days, but its a medium that is one of the fastest growing sites I have ever seen.

On twitter, I can send direct messages - these fall under the www. radar and are private to the sender, or I can tell the world about something! Its that simple. I can communicate with potential Landlords and Tenants at the click of a button.

Time will tell if this is the new medium for a Lettings Agency in Surrey! In the meantime - if you want to get regular updates about the lettings market then be sure to follow me on Twitter. @SurreyLets

SurreyLets discuss Letting a Room in your home.

Making the decision to rent out a room in your home is quite a big one, and one all occupants in the home should talk through. However, with more and more families feeling the pinch as the economy tightens, more and more people are looking at taking in a lodger. There are certain incentives too, you can earn up to £4250per year tax free from the income your room generates.

The price of the room vary from area to area. Typically the room will be furnished, minimally with bed, desk and wardrobe space. A double room may have a single or a double bed. The room should be let inclusive of the council tax, water rates, TV licence, gas and electric bills. Rents in Surrey are normally IRO 65 - 100 per week and varies from area to area and its facilities in a given locality. It is normal for the lodger to share your kitchen and space should be provided on shelves and in the fridge for their things. Bathrooms can be shared and an ensuite will command a higher rental. Use of other rooms is an agreement between you.

Whilst many homeowners advertise the room in the private ads, some letting agents will charge a small fixed fee for introducing a tenant, though viewing's are normally conducted by the property owners as its important that you like the prospective lodger and you get a good gut feeling. Once you are happy with your prospective lodger you should look at taking references. A previous Landlord to call is reasonable and an employment reference. Its important to build a picture of who your lodger is. An agent can carry out credit checks, employment checks and affordability checks through referencing agents to ensure the person is employed and can afford the rent and have no adverse credit history. After all, you don't want a lodger registering bad debt at your home address, or not paying the rent because they have numerous obligations eating into their income. Its certainly worth getting an Agent to conduct the tenant referencing.

If you have children in your home or vulnerable adults, you may want to go one step further and have a CRB check, but regretfully these are harder to have carried out. I spoke at length today with the CRB on why Letting Agents are not allowed to apply for these on the Landlords behalf as when you are letting a lodger stay in your home (where all your personal data is stored),especially if you have children, you want to ensure the person has not previous convictions. Fortunately, Surrey County Council have assured me today that in the forthcoming months, this may change and whilst the cost of such a check will be £50-70 - it may give added piece of mind. Surrey County Council are at least showing a proactive reaction to the dilemma and are offering assistance, though it may still take a few weeks to get a check through. Watch this space as I will update with news of this, but for many this may be very welcome.

Homeowners often make the mistake of not getting a solid and water tight agreement in place. The Tenancy Agreement should be a common law agreement, and it falls outside of the Housing Act. Basically, both parties need to mutually agree its contents and sign. A period should be agreed as should notice periods and rent due date and how rent should be paid. However, that's the basics, and a good agent will advise you on essential contents. Food for thought - you may have excluded dogs and cats - but what about fish? If the fish tank bursts and the carpet is destroyed, does you tenants room insurance cover this, or will it be down to you to claim? Avoid the problem by ensuring your agreement excludes anything that may be a risk.

For more information on how to go about Letting a Room in your home, please contact SurreyLets. Our advice is free and there is no obligation.