By Steve Roulstone
I have looked at three pieces of news this morning, all surrounding the property market and I believe all good, proving yet again that the rental property market continues to be positive in a period of time even for the current downturn we are experiencing that has seen nothing but negative news on closures, redundancies and negative forecasts. Other items I read this morning even hinted that ‘savvy’ business people might continue to look to the property market as a better investment than the more traditional stock and finance markets.
The really interesting point about the news released by the Government recently, is the amount of reporting that defends both the action of squatting and the need for squatters making this bad news for the public in general, but I would like to pick on two points that the majority of commentators have missed. Firstly, it is totally inappropriate to say that Squatters in some way make use of empty property and are therefore unlocking living space for those without a home of their own. This is just a way of turning the eye from the reality of the fact that they have no legal standing in occupying any home they choose, empty or not! I am not in disagreement that empty property could be better used, but only with the acceptance, knowledge or permission of the owner. I do not need to point out the damage caused to owners who are unable to utilise their property because of somebody squatting. Secondly, all this does, is continue to take pressure of local Councils. This is where any move to utilise property that is truly left unused, as the Government and therefore local Council need to be the vehicle given the power to unlock property that is left empty long term, and is genuinely available to ease our housing needs. One further point for the writer, it is at least Mr Cameron and the words Prime Minister are suffixed by a capital letter!
There is no doubt that rents are on the increase, but we are not seeing any great evidence of Gazumping outside of major cities, but before anybody starts to jump up and down about Landlords making profit, two points again that need to be confirmed. It is not often that I comment that we are in a similar position to Estate Agents as letting Agents, but it needs to be confirmed, that we are duty bound to advise our Landlords if a better offer for a property is received, just as Estate Agents would do for their customers, even more so because our contract with our Landlords gives us a duty of responsibility to comply with and therefore we have no choice but to both advise and react to our customers wishes. But holdfast! These were the same Landlords who were faceing offers on property below the asking price only two years ago and this current trend is only really redressing the balance from that period of rent reduction.
Renting numbers still increasing.
This is of course good news and confirms that by the end of this year, the percentage of rented property in the Private sector in the UK will have increased to something close to 20% and overtaken the Public sector at the same time. The issue that jumped out of this report at me was the mention of avoiding rogue agents in the links. Sorry to be a bore, but how simple would that job be if the Government were to protect this now significant and continually increasing sector, by introducing licensed Agents! (Now where have I heard that before?) For me, as a Professional who spends most of his time pushing the message that qualified Letting Agents are both the Tenants and Landlords best way of managing and finding property, allow me to add one more reason to the case: One of the main reasons we have an increase at present is because the Sale market is unable to move property for owners who need to move on and the rental market provides the outlet owners need. But by default, the Estate Agents who now have a captive audience are the beneficiaries of this business. My comment to owners is that they should try at least one qualified specialist Letting Agent. By doing so, you should be amazed just how knowledgeable they are and therefore better protected and prepared you will be in the rental market! This is what being trained in our market means and only by speaking with a specialist office will you find out for yourself what that difference means.
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