Monday 28 March 2016

Our new eBook and a landlords hat-trick

We have just competed the last part of a hat-trick for prospective landlords, particularly those near our office in Bromley in South-East London.

A little while ago we made public on You Tube our new video offering advice to people looking to become landlords and to let out one or more properties, below.


We followed this up with a blog post on the same subject, here.

Now, we have the hat-trick for new landlords completed with our new eBook, entitled So you want to be a Bromley landlord?

If you would like to receive a copy of this unique eBook and future similarly helpful emails, just email us at sam@edwardashdale.co.uk to receive it.

We won't be publishing our eBook anywhere else, though we will invite people to subscribe via email on our Facebook, Twitter and website.

We hope you enjoy it and if you have any questions or would like us to cover any additional points in this or any future communication, just let us know. We are, as always, here to help.

Best of all, why not drop by and ask us any questions you have in person? Our address is:

Edward Ashdale Estate Agents
58 Beckenham Lane
Bromley
BR2 0DQ

Or call: 0208 466 8445.




You can view our earlier posts in our Index here. 

Saturday 27 February 2016

Kevin's Property Blog - February 2016


Kevin Spires, Senior Sales Executive at Edward Ashdale estate agents, shares his latest thoughts on the property market.

December saw the rate of annual house price rises increase from 11.2% in November to 12.4%. The average house price in London is now £514,097.

An average property in London now costs a staggering ten times the average salary, according to the London Housing Commission.

What rise will we see for London house prices in 2016?  The range of forecasts suggests prices will rise on average of 3%-6%.  We predict property prices property in Bromley will increase by an average 6%-8%. 

The London Housing Commission report for the Institute for Public Policy Research shows 500,000 new homes need to be built in the capital over the next 10 years to keep up with demand, but in the past 10 years only 194,000 were built. 

So with the lack of new homes being built and it looks like interest rates will stay unchanged for 2016 these are two strong indicators why house prices could rise at an average of 5% this year.

But a good argument against a continuous rise in house prices is that they cost a staggering eight to ten times (earnings) the average salary. Looks like we have a very interesting year ahead.

Kevin Spires, Senior Sales Executive, Edward Ashdale, February 2016

Please call 020 8466 8445 to book your FREE MARKET APPRAISAL

You can view our earlier posts in our Index here.

Wednesday 24 February 2016

New landlord? Don't be nervous

We recently published a short video offering advice to new and prospective landlords. Sam Samuel talked about some considerations of importance to new landlords, from considering what property to purchase in the first place, to property maintenance and dealing with tenants.


After going over general points and potential risks, such as nuisance behaviour and rent arrears, Sam concludes that, with or without a managing agent such as Edward Ashdale, being a landlord can be a smooth-running and rewarding experience. 

However, Edward Ashdale are ready to help if an intermediary between landlord and tenant is needed to apply expertise and experience to ensure the letting out goes well and any emergencies are dealt with. In the case of a landlord with multiple tenants, such an arrangement could be even more valuable to ensure that the landlord has peace of mind that, whatever happens, any issues with his or her properties that arise are routinely dealt with effectively and efficiently.

You can view our earlier posts in our Index here.



Friday 29 January 2016

Sam's Word 11: In the news again... and why shouldn't you be?

Sam's Word
We have blogged before about our being featured in the media as estate agents. Raising awareness of our brand and what we do, and getting people to understand that we are property experts who can be trusted, are important. That has taken us to appear in print, radio, online, and in social media in recent months.

This time, we have been featured by a leading property portal, OnTheMarket.com, when using our expertise to offer our view on a distressing topic, 'What to do when you’ve found a dream home and your buyer walks away'

So, if you have found your dream home - perhaps via our section on OnTheMarket.com - now you have some advice to deal with one of the many unfortunate situations a property move can produce. 

We were listening to a broadcast this week, and an estate agent was asked, 'Why use a high street estate agent and not one of the new online services?' They answered, 'Because these online services don't have the people with the experience to cope if things go wrong.' Food for thought. Yes, it is good to use the innovations and open access facilities such as Facebook (see below), but having your chosen, local property experts to conduct, guide or help at need during your property transactions is as important as it has ever been.

Among the things you can do to help yourself is, for example, raising awareness that you have a property for sale or to let. We use Facebook and Twitter and other social media to promote ourselves and our clients, but more is, well, more. You can use these yourself, if you feel confident to do so.

One word of warning, though. Don't make the mistake of indicating when your property is unoccupied, which could be an invitation to burglars or worse. You could share that you have a property for sale or to be let out and create a page with photo's and text. Using images from our brochure, taken by professional photographers, would be a sensible step. Your friends will see your page, and they may well share it with others, and a potential buyer or tenant might soon be knocking on your door enquiring. Even then, however, having a professional friend, such as Edward Ashdale, to ensure the correct sale or let process is followed, is important. A tenant should be vetted; a buyer's seriousness probed (nicely). 



You can also simply tell people you know that your property is for sale or to let and spread the word that way. Though an Edward Ashdale sign (or more than one) is a bit of a give away, and so it should be. 

Such word of mouth is, of course, very important, and it is a major way we pick up new clients. We're worth talking about and getting in the news, after all.

Sam Samuel, MNAEA CRLM,  January 2015

You can view our earlier posts in our Index here.


Thursday 17 December 2015

Kevin's Property Blog - December 2015

Kevin Spires, Senior Sales Executive at Edward Ashdale estate agents, shares his latest thoughts on the property market.

London & Bromley

Average price increases accelerated to 9.6% in the year to September. Annual prices are now once again rising faster in London than in any other region of the country, and the average house price in the capital is now £499,995.

The majority of sales in Bromley during the last year were flats, selling for an average price of £277,772. Terraced properties sold for an average of £360,075, with semi-detached properties fetching £483,235.

Overall sold prices in Bromley over the last year were 7% up on the previous year and 27% up on the 2012 level of £320,659.

National

House prices rose across the UK in September, rising by 5.3% compared to 4.2% in August. Outside of London, the South East saw house prices rise the most at 8.5% in the year to September.

Excluding London, property prices in the countryside are, on average, 22% higher than in urban areas Despite this, the gap between “town” and “country” prices is narrowing as prices are rising more quickly in urban areas. Between 2010 and 2015, the average price of a home in the countryside rose by 13%, compared with an average increase of 23% in towns and cities.

The relative shortage of houses for sale means there are many more prospective home-owners than houses to buy. Prices will probably rise fastest in the entry level bracket with high demand from first-time buyers. In the short term there may be a rush from buy to let investors or second home buyers seeking to make a purchase before Stamp Duty rises by a further 3% from April 2016.

Kevin Spires, Senior Sales Executive, Edward Ashdale, for your free valuation call 020 8 466 8445.

You can view our earlier posts in our Index here.

Sunday 29 November 2015

Topical tips for Landlords 1 – New energy regulation is coming


The Energy Act 2011 gave the government powers to set a minimum energy efficiency standard for the private rented sector to help meet carbon reduction targets and address fuel poverty.

Therefore, a Minimum Energy Performance Standard for the private rented sector is being introduced. The Private Rented Sector Energy Efficiency Regulations (Domestic) sets out:

  • Tenant's energy efficiency improvements
  • Minimum energy efficiency standards
Minimum energy efficiency  standard regulations will require eligible properties in the sector to be improved to a specified minimum standard. These regulations must be in force by April 2018.

Landlords will face a penalty charge of up to a maximum of £5000 for non-compliance.

Until recently, Lewisham Council, in partnership with Osborne Energy, set up an offer to help improve the energy efficiency of rental properties with up to £7200 grant funding by property. Funding was available to landlords with rental property in Lewisham, Bexley, or Bromley.

Whether or not further offers are made available from these or other sources, landlords clearly need to be investing in this area going forward.


You can view our earlier posts in our Index here. 


Thursday 29 October 2015

A Baptism of Fire for my first letting agreement

By Liam Embleton, Negotiator at Edward Ashdale

"I’ve recently started working as a Negotiator for Edward Ashdale. My first role in the lettings industry.

"After an initial period of training I was out conducting viewings, a process of filtering the good applicants from the bad. My first successful let was a three bedroom ground floor flat in Shortlands and it didn’t go as smoothly as I expected it to. Apparently, not even the Lettings Manager had experienced anything like it before. Problems occurred through the process of moving tenants on the planned date.

"On Friday 18th September, I had organised two very good applicants, Pawel and Lukasz, an early afternoon appointment to show them around the property. They both work for a large company in the local area and were looking to rent a flat in the Bromley area. Pawel and Lukas showed immediate interest as this flat was exactly what they were looking for. The flat was empty at this time as the Landlord had vacated. We had in fact managed the property two years ago, so the Landlord was no stranger to us and the process. The property was available to be moved into as soon as possible, which was ideal for Pawel and Lukasz as they needed to be out of their current property within two weeks. They requested permission from the owner to redecorate in the same colours as they planned to remain long term. 

"Everything was agreed and a reservation deposit was paid by the tenants. I confirmed with the Landlord the property was now let on the terms agreed and proceeded to carry out the referencing process. The landlord confirmed he was happy to take on these tenants and was looking forward to them occupying the property in two weeks. The proposed tenants were excited and the date for occupation was set with a date of Friday 2nd October which was perfect for all as they needed to be out of their current property that they were renting by that date. 

"During the week coming up to Friday 2nd, I had no contact with the landlord despite my attempts to make contact. I couldn’t get hold of him: he was not responding to any of my calls or e-mails. I had to apologise to Pawel and Lukasz, explaining that despite having signed contracts returned from the Landlord-client, he had not authorized the references we had obtained, despite them being rendered ‘good’ and ‘acceptable for the tenancy’. They were not able to collect the keys on the Friday 2nd, as we had no response from the landlord.

"When I finally got contact from the landlord three days after the agreed move in date, he said that his wife had changed her mind on the proposed tenants and that he now no longer agreed with them moving in. Pawel and Lukasz was not happy with this late decision, not to mention the grief they were having from their existing Landlord. They were telling me they were about to be homeless because new tenants were pressing to move in their own property. 

"My manager in the office became involved and tried to learn from the owner what the delay was or if there were any concerns. Luckily, later on that day the landlord phoned again and told us he had had a further discussion with his wife and agreed to the tenants moving in.
The new date for occupation was Saturday 10th October, which was going to be a definite! I had to politely speak to Pawel and Lukasz and explain to them the reasons why we had to change the date.

"During that week I made sure everything was prepared, including organizing the inventory and gas safety testing. I could not believe it when we received a telephone call from the gas engineer advising there was no seal on the oven door and no chain on the gas cooking appliance, so he had to fail the gas check. I immediately conveyed this to the Landlord, who refused to accept the gas check had failed and assured me there was nothing wrong with the appliance. We obtained quotes for supplying and fitting a new gas cooker and oven appliance, but the Landlord refused. This ran into a few days, with the tenant continuously chasing to find out what was going on and the Landlord reluctant to do anything. He wanted a second opinion and the same result was found. This meant the tenants were not allowed to move in the next day until the landlord had replaced the cooker, which ultimately delayed the move in date once again by another three days. This caused big problems for Pawel and Lukasz and there was nothing I could do but apologise for the inconvenience of being delayed once again. The Landlord finally conceded after reading the gas engineer’s reports, but decided he wanted to arrange the new appliance, which he did through a local store who were offering an installation deal too, ensuring it met current regulations.

"Finally, on Tuesday 13thOctober, we finally got Pawel and Lukasz happily moved into the property with all the problems solved. Yet the story didn’t finish there. The Landlord contacted my Manager, saying he had been talking to his wife and after everything that had happened, had decided not to let the property to the tenants. They were going to sell the property instead! 

"The Landlord had signed and returned his contracts. 

"All of the associated tenancy obligations were complete.

"The tenants had signed the Tenancy Agreement and here we were with a Landlord saying we needed to tell them to move out. I was quite amazed, but I was assured the Landlord could not get the tenants out. It was a horrible feeling for me, after all my efforts. Fearing having to tell the tenants and a possible legal battle, the Landlord telephoned later in the day and apologized, saying it was his wife and that he himself was quite happy to proceed!

"I’ve been told to expect many more unusual experiences, which I suppose is part of the job when you are dealing with people that have different agendas."

You can view our earlier posts in our Index here.