Tag Archives: Landlord Advice

05Sep 2011

Current property News: Rental increases Figures behind the Facts.

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By Steve Roulstone

Here are some of the facts behind the figures that are being quoted organizations who specialize in collating data for the property market. On their own figures do not always mean much, but placed together in this format and a pattern is emerging!

  • Rents rose for the sixth consecutive month in July, increasing by 0.6% to £705 per calender month and marking a new record high. It means that the average rent is now £29 higher per month than in July 2010. Nevertheless, the level of late of unpaid rents fell slightly from 9.3% to 9%, according to the latest Buy-to-Let Index from LSL Property Services.. The average yield also rose reaching 5.2% in July, up from 4.8% a year ago.
  • The greatest rental increase was in London, where rents increased by 7.1%, hitting a new high of £1,009 per month. This was followed by the North East, where rents increased by 5.5%, and the East and West Midlands, where rents rose by 4.8%. Only in Wales have rents remained flat year-on-year. On a monthly basis, rents increased fastest in the South East, up 1.7%, while in Wales and the East Midlands they increased by 1.4% compared to June. David Newnes, estate agency managing director of LSL Property Services, says: “Rents are on an upward trajectory, and it is unlikely that tenants will gain respite any time soon. Demand from thousands of frustrated buyers each month is underpinning buoyant competition for rental homes, enabling landlords to increase prices.
  • “This is the peak summer season, with more renters on the move, the market will continue to heat up. Such strong demand and high rental incomes has forced lenders to take notice, and more are returning to the sector. As a result of the competition in the buy-to-let market, the range of affordable products is expanding – and lending to investors rose by 21% in the last quarter. Nevertheless, even with squeeze on landlord finance abating, the new supply will not be enough to meet demand from tenants.

 

  • Almost a quarter of landlords are feeling more optimistic about the prospects for their property portfolios, rental income and yields. They are helped by a perception of availability of buy-to-let finance: 22% in the second quarter of this year said that it was reasonably available, compared with 17% in the first quarter. According to Paragon Mortgage’s Q2 Private Rented Sector Trends Report, 23% of landlords feel more optimistic than was the case in Q1, particularly if they are professional landlords, with 30% stating they were more optimistic, compared with 15% of smaller-scale landlords. On average, landlords expect to have 13.1 residential properties in their portfolios in a year’s time, compared with 12.6 properties currently.
  • This is the first time in two years that landlords have predicted an increase in the number of properties in their portfolios. Nearly three out of ten landlords (29%) have increased rents during the second quarter, the majority of whom reported an increase of between 2% and 4%. Landlords are also more optimistic about the net value of their portfolios, with a growing proportion expecting an increase in value (14% in Q2 against 13% in Q1), and fewer are forecasting declining values (12% Q2 vs 19% Q1). The majority of landlords (74%) expect net values to remain the same.
  • Also highlighted in the report is a shift in the types of property that landlords are looking to add to their portfolios during the third quarter. Of those looking to purchase during the quarter, terrace houses are the most popular choice, with more than half of landlords saying they expect to buy this type of property. However, there have also been significant increases in the popularity of semi-detached houses (up from 28% to 41%) and detached (up from 9% to 22%).

All of this confirms what we as Agents have seen and continue to see month on month. The rental market is healthy and from the shop floor it is also noticeable, that we are receiving far more enquiries from would be Landlords. The ‘Buy to Let’ market may not rise to the heights of five years ago again, but the investment Landlord is definitely coming back, the only difference is that the market will give this current trend another ‘name’ soon – let’s wait and see!!

02Sep 2011

Current Property News: Home ownership figures give BBC cause for concern.

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By Steve Roulstone

Well they are at it again, and having listened to the latest report from the BBC on housing in my eyes they have confirmed once again just how they seem to relish putting a negative spin on anything relating to the housing market. Especially as they seem to be the only news agency that have put such a negative spin on the figures behind home ownership! In doing so they have completely ignored two very important  factors, firstly, the right for people to choose how they wish to live and the trends which have been evident for several years and the assumption that the home ownership which has been the UK way for so long is not the natural goal for every family any longer.

The Facts.

Firstly, what I can agree with is the numbers behind the report.  Private Rental Figures have been increasing by three times the normal rate now for at least the last two years and for the first time last year overtook the Public rental sector in the UK The BBC report stated that 64% of housing in the UK is owner occupied. This confirms the trend as currently believed with Public rental at 16.5% – 17% and the Private rental sector at 19% – 19.5%. So the figures are correct, it is the assumption that this is a major cause for concern that is wrong.

Freedom of choice.

For some years now, the average age of a first time buyer has been growing and I do not deny that some of the reason is the inability to be able to afford property at a younger age, but it is also clearly evident that we have a far more mobile work force who are prepared to and expect to move several times as they change jobs or move with jobs as careers develop. This will be confirmed by any Letting agency, as we are the people who see this trend and know for the reasons given by Tenants when initially renting and giving notice to move on again. The BBC chose to ignore this because they will have no knowledge of this trend and do not take time to find out by speaking to our Industry.

Change in pattern.

The other obvious point raised by the two reasons given above, is that firstly, as hard as the fact may be to accept, the housing market in finding its current level as the market dictates is confirming that cost of houses are settling above the affordability of younger couples and is being replaced by the rental market as an affordable choice. Secondly, this choice also suits the fluid lifestyle now being lived and mirrors what is happening across Europe where renting is an accepted way of life and it should not be too much of a mind jump to see that as we develop a cross border larger picture European style of living these changes are moving in line with our European neighbours.

The bigger picture.

But the BBC in reporting this news in the style chosen last night, ignored choice and took as its basis, that home ownership is still what we all strive for. What the BBC need to do, in my opinion is ask itself two very large questions. Why when reporting news from the Housing sector do they always give it a negative spin? and why do they report such news without consideration to the professionals within the market who could confirm what is actually happening in housing in the UK and why, rather than jumping to age old assumptions? My own ‘assumption’ is that what used to be the organisation that gave the world the news, has sunk to a world of sound bites and magazine style articles rather than in depth pure reporting that they used to be known for. That’s a trend that they do know about, but again one that I fear they will also ignore!

12Aug 2011

Current Property News: Letting Agents failing to see the best of increased numbers.

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By Steve Roulstone

Yet another report on the state of the Lettings Industry confirms the increase continues to gather momentum in our industry and unusually, I totally agree with what is being stated. However, because the writer is London / Surrey based, whilst they are seeing the majority of the current growth, I doubt they are also seeing the full effect of the Estate Agents who are now trading in our market.

Same outcome wherever you are!

One thing that does not change is the outcome of untrained or unprofessional people involving themselves in a market they know little about! The dangers are not always so clear and because of the lack of information supporting any Landlord looking for Management services it is not really clear about what they should look for when choosing the right Management Company.  There are many attempts at the moment through Safe Agent and TPO to give Landlords security, but the message is both new and from what we see on the ground, not yet getting through and if I have any complaint about this article, it is that another opportunity to advertise security and professional schemes has not been taken.

Differing degrees across the country.

What is very clear is that the increase in numbers does not always apply as you travel Northward through the Country. I am currently travelling around our offices and not all are benefitting from the increases in opportunities, but it is clear and again confirmed in this article, that a large percentage of this increase is staying with the Estate Agents, who as I have confirmed before, will not wish to walk away from what is fast becoming 20% of the UK housing stock in the Private rental market. Therefore, we need more than ever to get our message across, that there is a reason we are called Letting Agents as opposed to Estate Agents.

Competition.

Nobody should complain about increased competition in the market place; however what we have seen over the last two years can be best described as more of a flood! When I started in 2000 I would have been competing with probably no more than five Agents. Now, this figure has grown four or five fold! It is clear from what I have found that when Landlords do look for a service provider, the offices with a greater profile are the ones who benefit the most. At my Stafford office, we are still seeing five Landlords a week on average, but the smaller offices are not seeing anywhere near the same numbers.

Professional noises.

So every opportunity must be taken to shout loud and clear that there is a very large difference between trained and qualified Letting Agents and anybody listing themselves as a Letting Agent or providing Rental services. You cannot beat time served (real experience) and of course asking what qualifications are held. It is difficult to prove otherwise and at Castle Estates we would not wait to be asked, providing the information from the start! Of course as the writer confirms, one major difference can be the price for the services requested, but as with all things in life you do not get everything for nothing, so I would suggest the question that needs to be asked is what are you getting for next to nothing, because cuts have to be made somewhere and it is important to find out where!

10Aug 2011

Landlord Property Advice: Always Allow for Wear & Tear

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By Craig Smith

When a tenant leaves a property, some Landlords think that they are automatically entitled to have items such as carpets replaced or walls repainted at the tenants’ expense. But this isn’t always the case as Landlords must take into account fair wear and tear.

What is Classed as Wear & Tear?

As a general rule, wear & tear is usually worn carpets or  a reasonable amount of scuffing to walls in high traffic rooms such as a hallway or stairway. Over time a cooker or hob may start to look a little shabby purely because of the amount of use it has had. Landlords should expect this during a tenancy and need to make reasonable allowances when a tenant vacates.

Certainly staining or deliberate marks are not just wear & tear but can be classed as damage. Yes, everybody has accidents from time to time and the odd drink will be spilt or food dropped at a meal time and replacing a large carpet could be expensive, but don’t forget that tenants can take out insurance for such incidents. (Refer to our previous blog regarding insurance.)

Longer Tenancies Means More Wear

Something that you learn very quickly in this business is that everybody has different standards, one persons ‘filthy dirty’ is another persons luxurious palace. It is very difficult to police how somebody lives in their home which is something that some Landlords forget. Generally speaking, the longer someone lives in a house the more wear is to be expected. For example, a property that has been tenanted for 5 or 6 years should expect more wear than one that has been let for just 6 months. Obviously there are some exceptions where there may be an exceptionally good or bad tenant.

The More Tenants, the Higher the Wear?

Another factor to take into account is the number of tenants who will be occupying a property. Imagine a typical 3 bedroom house, with a tenancy that has run for 3 years. If the tenant was a single person living on their own, you would expect less wear than a family with 2 adults and 3 children.

The same can be said for pets. Most pet owners are responsible people who look after their pets and the property they live in. However, if a Landlord chooses to accept a pet in the home then the Landlord should also expect some additional work at the end. Yes, it is the tenants responsibility to leave the property in the same condition as when they took it on (not forgetting some reasonable wear & tear!) but the Landlord should make some allowances when discussing any costs.

Excuses, Excuses

So we should avoid any tenants with pets? Wrong! If all Landlords avoided these sorts of tenants, there would be an awful lot of homeless people! Don’t forget that obtaining good references before a tenancy commences will help to determine how good the tenant is and, although circumstances can change, will give a Landlord good indications of whether to proceed. The same can be said for gardening, if a tenancy started with a neatly cut and well presented garden but left overgrown and weedy, the tenant cant say that this is because they aren’t gardeners. The property should be left in the same condition and this shouldn’t be used as an excuse! 

09Aug 2011

Property Landlord advice: Landlord Insurance – when fire comes to call.

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By Steve Roulstone

The press is once again full of adverts for Landlord Insurance at the moment and apart from the fact that they mean Building Insurance for Landlords (as opposed to Landlord Insurance for Rent and Legal expenses) when this week a property we manage was involved in a fire for a second time in our Company’s History several important points were raised and although on this second occasion ours was the property next door to the one which caught fire, our systems and practises were put to the test. The fire started in a shed, but spread via the garden fence to the house and subsequently next door.

When Fire strikes.

The important point about any Building Insurance for any Landlord in a Management scenario is that the Managing Agent is aware of all the details and has copies of the policy to hand. This week we were made aware in the middle of Wednesday afternoon that a fire had broken out and quickly established that it was the neighbouring property that was being attended by the Fire Brigade. We visited site straight away, established that our Tenants were OK and started to deal with the problem without delay, because the Fire Brigade had advised us that they were unsure at that moment that they were going to be able to allow the Tenants to return that night for safety reasons. This of course presented several problems and both the Landlord and Tenants were relying on a quick reaction to sort the problem out.

Proper procedure.

This meant that we had to contact the Insurance Company and loss adjusters, confirm the policy, confirm we were able to act on the Landlords behalf, for which with a signed Landlord contract to hand, we were able to do in moments and confirm within under an hour, that should the Tenants need overnight accommodation, they were covered by the policy and made it known that the damage to our Landlords house was added to the inspection and subsequent damage costing by the loss adjuster on day one. Details of who to contact and how were sent in writing and by the end of the day (for which our staff once again have my thanks for staying until all had been dealt with and everybody advised) everybody knew where they stood and how the problem would be dealt with.

Timely reminder.

One of the big issues raised here, is the point emphasised in the current adverts that I mentioned above, because should this not have been a Landlords policy, then the insurers would not have provided accommodation for the Tenants and probably refused to cover the damage because the house was rented without their knowledge. As a Managing Agent, it is therefore important to both advise and ensure that all Landlords are aware of what they should advice their property Insurers and take out the correct policy for a rented property.

First time.

The first time we experienced was the actual property e managed and was caused by a chip pan, left unattended because of a phone call. Again thankfully nobody was injured and the correct cover and thankfully fire protection was in place and the Landlords even provided alternative accommodation for the Tenant until the property was re-built, which considering the reason for the fire in the first place, was a very responsible response. I know that the Tenant, who returned to the original home after the work was completed, has never cooked a chip at home, ever again!

Summary.

I trust we have now had our share of fire related incidents for another ten years, because the initial thought of possible injuries or casualties is something nobody wants to have to go through but without a doubt, our systems and practises came to the fore for all concerned in both instances and confirm that there is more to Residential Letting Agents than just finding a Tenant and moving people in and out of houses. Good practise and attention to detail may never be needed for individual properties, but when it is I know which side of the fence I would rather be on!

04Aug 2011

Property Landlord advice: Wooden flooring best advice

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By Michelle Strassburg

Wood flooring is popular in many homes as well as in commercial properties. Landlords often fit wood flooring due to their durability and in an attempt to give the property’s decor a modern touch. We know from speaking with property developers and landlords that in order to reduce costs, those individuals with do-it-yourself skills will often fit the floor on their own.

 As a service to Castle Estates readers we wanted to share first hand the more common mistakes that unless taken into account and corrected could seriously degrade the durability of the floor, resulting in more costs.

 Common DIY Mistakes When Fitting Wood Flooring:

 Selecting The Wrong Thickness – Quality wood flooring allows you to sand and treat the wood if it looks warn, thereby giving it a fresh and new look. Only thick floorboards will react well to such treatment.

 Choosing The Wrong Floor Finish – Different areas require different floor finish. If you are planning on installing the floor in high traffic areas such as halls and entrances, you should look into selecting Lacquered, Varnished or UV oil as they all offer better resistance to stains and spillage and much easier to clean.

 Not Taking Into Account Underfloor Heating – As a rule of thumb, unless the wood flooring you bought specifically mentions that it will cope with underfloor heating, do not fit wood flooring over such heating systems. Otherwise, with time, the wood will expand and erupt.

 Fitting Wood In Damp or Humid Areas – Wood and water do not mix well, and you probably don’t need us to tell you that. Fitting wood flooring in areas with high humidity such as basement or bathroom is ill-advised unless fitting engineered wood flooring. These types of wood flooring are made from a mix of materials (including wood) and are better suited for damp or humid conditions. In any way, it is better to first solve the cause of dump before fitting any flooring.

 Going For Inadequate Underlay – This thin layer which is fitted above the sub-floor is traditionally thought to make the floor more comfortable to walk on, however if your property is in the shape of a flat with downstairs occupants a quality underlay is essential. It will silence the footsteps of the property’s tenets.

 Fitting Over Humid Sub-Floor – Another typical mistake is fitting the floor over a humid surface. The most common humid sub-floor is concrete that has not been allowed to dry sufficiently. When fitting a wood floor, it’s essential that the humidity level of the sub-floor does not exceed 6%.

 Failing To Leave Gaps – Wood is a natural material that can expand in hot temperatures or shrink cold in temperatures. When fitting the floor, it is recommended to leave a gap of 1cm to 2cm between the floorboard and wall to allow this natural reaction to take place without damaging the wood.

29Jul 2011

Property Landlord advice: Professional Letting services cannot be watered down.

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By Steve Roulstone

In a recent release from the NFOPP in the form of an e-mail newsletter, the writer tried to infer that in this difficult market, prices will automatically come under pressure as Agents and Agencies try to compete with an ever increasing number of Letting Agents looking to take a share of what they describe as a ‘diluted market’ As usual when I read these articles (and no doubt just as people see when they read mine) several points jumped to mind, which could both explain the perceived problem and also the manner in which the writer fenced around the reasons why the matter was worthy of a newsletter from the NFOPP when in reality it was an advert for  inventory services!

Industry wide representation.

The main bodies covered under the NFOPP banner are National Association of Estate Agents and the Association of Residential Letting Agents. Therefore, the NFOPP cannot be seen to post a comment which actually states that the majority of new Agents are not from the Lettings Industry, as anybody in Franchising in this market will confirm, rather Estate Agents turning to our market as a way of earning income because of the lack of sales and as I have confirmed before, because the percentage of Private rental Property in the UK is now close to 20% they can no longer ignore what so many Estate Agents have treated as its poorer relation for so many years.

More should not equal less.

 

But no matter who the competition is, the very fact that we are seeing close to three times the normal increase in property coming to the rental market, would not in my book be described as a diluted market! It is my belief and the evidence I see from our National organisation, is that those offices that have a good profile and are readily visible on the High Street, are receiving good prospects and growing business because of this increase in available property. The problems occur because so many new Landlords are a captive audience with the Agent who has failed to secure a sale and stay with the same organisation, or because the Agency who is struggling to compete does not have high street presence.

Smaller can still be good.

 

That does not mean that smaller Agents are poorer Agents, far from it, but I do and would have reason to question any such agent who also pays for services that as a Professional Agent they should be able to undertake themselves, because as the evidence confirms, our potential customers are being very discerning about where they spend their hard earned money! This is why I believe, it is important to have as big a profile as possible and I would suggest that carrying out every aspect of Managing a property through the staff employed by the Agency itself, is important not only to the Agent, but more importantly, to the potential Landlord and cutting prices is not the way to deal with the needs of your Customer.

27Jul 2011

Current Property News: Rental market increases just catching up.

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By Steve Roulstone

I have said before that the Sales market, which when healthy helps to ease finances in the UK market as a whole, would benefit from support for Landlords wishing to feed the demand for rental properties and current reports on rent increases confirm that the market is reacting to the demand in achieving the reported rises. The market (rent) will of course find its own level and whilst that needs to be looked at as a wider picture rather than just what is happening now, there is no doubt that the flicker of easing of availability we saw earlier this year is needed now more than at any other time in the last three years.

Lack of available property.

The report confirms that the demand has continued to increase over the last year and whilst once again the majority of what is reported refers to the market in London, the rest of the Country is also seeing higher demand, for as has been said for many a decade, what happens in London, flows through the whole country in time. But one point I would like to pick up on is that it is unusual for property to be let within one day! Well at my own office, this happens every year and far more often than the reporter would seem to appreciate for it to be worthy of note. Perhaps they have so much property available in London that renting in one day becomes unusual, for the majority of the Country it is not unusual and hopefully helps to explain for the rest of us why the need for more property is greater outside of London.

Rents catching rate of inflation .

One thing that the current increase is confirming is that the rate of inflation for the last ten years matches the increase in rent for the same period. I am of course aware that region by region this will differ, but locally when the average rent for a three bed semi (most common and popular type of property) is viewed for the last ten years, the increase falls just short of inflation, being between 2.25 and 2.5% per year. Therefore Landlords are not taking advantage of the situation financially, by charging more than is justified, rather the increases are placing rents where they would expect to be in line with inflation. The only area where they perform better, is when set against other methods of investment, for whilst value of property may have declined recently, increased rents, especially for those with flexible mortgage rates, have continued to repay Landlords for their investment.

Is anybody watching?

To return to my initial point in this Blog, if those in a position of influence are looking at this demand and increase in rents closely, then hopefully Buy to Let Mortgages will show signs of being more readily available again. Last time I made the same call, the financial situation was not as poor as it currently stands, with European Country after Country struggling to maintain its own economy without being bailed out and the possible fall out to our own markets should our exports be badly hit. Add this to the effects of our own stringent financial measures starting to take effect, especially in the public sector and it is difficult to be positive, so any request for easier terms would be matched by more demands for care. However, I am sure that there is room for some movement and as heard on a report earlier this week (cannot confirm where as I was passing a radio in the middle of Oxford supposedly on Holiday!) Buy to Let mortgage applications are on the increase and the return is increasing and by ignoring this improving market again, I believe another opportunity to kick start the sales market will have been lost!

22Jul 2011

Current Property News: BBC Ignore the law – again!

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By Steve Roulstone

There are times when you just cannot avoid reports on TV that paint a totally false picture, even when you are not looking for it and last Saturday morning as a crowning example of just one of these times. All I was doing was enjoying my breakfast at the start of a long weekend’s holiday and as is my usual routine, catching up with the early news at the same time.  So I was watching BBC Breakfast news (although I do see this programme becoming more of a magazine than a true news programme) when once again an ‘expert’ was being asked for his opinion on this month’s attack at the rental market, increasing rents and the effect on the Tenant under contract.

 Same old same old!

I must say I do get entirely sick of the way the BBC constantly appear to ‘have a go’ at our market, not just because I am over protective, which would be true anyway, but because they never tell the whole story and always leave these sound bites (because that is what they, not a subject debated, just two minutes of perceived problems) with the impression where our market is concerned that it is unfair, badly managed and led by greedy property owners!

Ignoring the law.

The impression left for those who are not aware, is that rents are increasing in many areas of the Country and Tenants already in property are being asked to pay ever increasing rents or being thrown out! Of course this is just not the case. The Housing Acts of the last thirty years have ensured that a legal framework exists to allow increases and to protect the Tenant from ever increasing rents. This is because Landlords are only allowed to increase rents once every twelve months and then by notice, ensuring that if the rent is too high for the sitting Tenant (something that every Landlord I know tries to avoid, because as was equally ignored by the report, Landlords do not like down times when property sits empty) they have sufficient notice to find an alternative. This way Landlords can ensure the rent received is in line with current rates (Thought; if increases were not allowed, would the BBC bother to report on how Landlords are trapped when Mortgage rates increase? Somehow I doubt it!!) and Tenants know they have twelve months between increases. It is worth pointing out, that this notice period is longer than home owners get when mortgage rates increase!

Does the BBC care?

I have to wonder just how many other industries are treated in the same manner, because the damage done by such powerful organisations in this type of reporting is immeasurable. I would like to feel that through the pages of this Blog I can put the record straight but I could never hope to reach the same numbers as the BBC, even in my wildest dreams! No doubt other industries get treated in the same way, but what really put the top hat on this item was that the ‘expert’ was nothing to do with either our industry or the housing market, rather their own in house financial advisor. Now this to me just confirms that they do not care, for if they had done the right thing and actually spoken to someone who knew the industry, the whole article would have been thrown out, as the actual methods as highlighted above would have thrown the whole concept of ill-treated tenants out of the water! So in conclusion, to me at least, it is obvious that the BBC actually do not care, as long as they have what they believe to be a ‘story’ with a point, truth, facts and of course by default ‘The Law’ are not important to the BBC!

15Jul 2011

Property Landlord advice: Accidental Landlords need to understand the difference!

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By Steve Roulstone

I have just read a report in the Daily Telegraph, about the rise in Accidental Landlords over the current year and the reasons why so many are looking at the Lettings Industry as a viable method of allowing them to ‘move on’ during this period of inactivity in the property sales market. The reason given for the lack of sales is the locked position of seller and buyer not wishing to negotiate on price, but fails to point out the reason why there is an impasse, which is the difficulty potential buyers have in either amassing the deposit or affording a mortgage. This points more to buyers being unable to negotiate any further and therefore the actual need is for sellers to lower their expectations, or indeed, turn to the rental market!

And why not!

Because this is a very viable alternative and one that is continuing to increase year on year (Let’s face it,  Estate Agents up and down the Country should be praising its growth, because without it, many more would have been in grave danger of closing their doors) and a market which offers many professional Letting Agents, who, because of the manner that Accidental Landlords come to the market place, never actually speak to Professional Letting Agents, rather sticking with the Estate Agent who has been unable to find a buyer, without the knowledge that (I would suggest) there is another layer of services available from our industry which when visited, would open the eyes of these new Landlords to what our market is about and how property can be looked after.

Registered by Law?

Now that does not mean that all Estate Agents do a bad job in the rental market, of course not. No more than all Letting Agents are perfect, far from it. But an interesting statement is made in the article about all Estate Agents needing to be registered by Law, because this does not apply when they all started to manage property in the rental market (if you read my pages often you know what is coming now!) because no registration is needed for a Letting Agent and it is something that we have been asking the Government to address for many years now. But I feel it is somewhat short of the mark to suggest in this statement that Estate Agents are better able because of registration, because if Letting Agents were asked to prove that they were professional, many of the Estate Agents who fell on our industry as a lifeline two years ago, would not be able to qualify.

So the difference!

This is really what my point about this article is, it proves something that I have seen all over the Country, that sellers who turn to the Letting Industry and rent their property instead, should make sure they speak to an agent for advice and judge the difference for themselves. The Letting Agent they choose should be a member of a professional body and registered with Safe Agent, the Industries latest attempt at providing re-assurances for its customers. I believe that no matter what the local market charges (because not all of the country is able to charge 15% (London?)) they will not only have price competition, but knowledge, experience, training and service competition as well. vive la différence!!