Letting Your Own Home

One of the features of the 2008/09 market was the rise in owners letting out their home as an alternative to selling it for a potential loss. Lenders are (up to a point) tolerant of letting providing that the rental income will cover mortgage outgoings, and the are no mortgage arrears but it’s worth enquiring what an individual lenders stance would be in hypothetical terms before making a decision. Remember that if your buildings insurance is arranged through your lender then you will need to notify them the property is let or the cover will at the least be inappropriate and may be worthless. If you have insurance arranged elsewhere you will need to check the policy covers damage by tenants, has Public Liability provisions and, crucially, that cover will not lapse during periods when your property is unoccupied.

Other key points to be aware of are:

• In England & Wales any deposit you take must be protected in an approved scheme

• You will need to provide the tenants with an Energy Performance Certificate

• Gas & electrical applicances must be tested for safety, and the tenants provided with a Gas Safety Certificate.

The best advice is to consult a specialist lettings agent such as Martin & Co who will be familiar with all the relevant regulations and can advise on rental demand. If you live in a 2-bed city centre apartment in a modern block in a northern city, you may find that there are plenty of others on the market. If you live in a 3 or 4 bedroom house in a leafy suburb in the South East then you may find your home is much sought after. It’s a simple question of supply and demand – so ask your local specialist lettings agent

Tuesday, 23 June 2009

Martin & Co honoured as Best Letting Agency

Letting agency Martin & Co has just been awarded the UK’s “Best Letting Agent” at the Estate and Letting Agency Awards (or ESTAs) in London this week.

The prestigious award was presented to Martin & Co’s Managing Director Ian Wilson by media personality and journalist Phil Spencer of Channel 4’s “Location, Location, Location”, who said “these awards are particularly special, and a true reflection of excellence in custmoer service as they are the only awards in the industry which are voted for by the landlords and tenants themselves. They are not easily won, and require a letting agency to achieve a consistently high level of service to their clients over a 12 month period.” Over 30,000 questionnaires were sent out to customers across the UK.

On receiving the award, Ian Wilson said “it is a privaledge to win such an award, and it is a tribute to the hard work, dedication and passion of our franchise owners and their staff. We aim only to recruit, and help our francisees recruit only the very best in the business – those who care about giving great service! In a property industry where many sales-based estate agents have recently forayed into lettings out of necessity, this award has clearly demonstrated that landlords and tenants prefer to work with a lettings specialist who will be around next year and the year after. I am especially pleased that it was our customers themselves who voted for us, and I’d like to thank all those who took the trouble by taking part in the independant survey.”

This award comes only months after Martin & Co scooped a Franchisor of the Year award at the end of 2008.

Sunday, 12 April 2009

2009 Landlords Survival Guide Launched by Martin & Co (Newcastle Upon Tyne)

27th February 2009

Local letting agency Martin & Co, with offices in 6a Ashburton Road, Gosforth, Newcastle Upon Tyne, NE3 4XN have just launched their latest update for anyone currently letting, or thinking of letting, a residential property in the area.

The no-nonsense “Survival Guide for Landlords Living in Recessionary Times” offers straight-talking, good advice and is highly relevant for the current market. It certainly pulls no punches and addresses various issues head-on, such as “Do you Own a Disaster?” and “Coping with Voids”. Fortunately it also provides solutions, based on the extensive experience of Martin and Co, gleaned from over 150 offices throughout the UK network.

Commenting on the publication, local Martin & Co Director David Barbour, said, “We trialed a newsletter for our clients last year entitled “What is happening to the UK Housing market?” which was met with an overwhelmingly positive response. It appears that landlords appreciate our head-on approach to the issues of the day, which other commentators possibly avoid as contentious.”

“We are therefore committed to continuing to provide relevant and meaningful advice to anyone with an interest in letting issues. This is a specialist field, and many are jumping on the band-wagon. However, in view of the turmoil in the property market and increasingly complex legislation, we are passionate about ensuring that our clients receive only the very best, up-to-the-minute advice from trained letting professionals who are here for the long term.”

“This newsletter will therefore be updated quarterly, and is available, free of charge, to all landlords in the Newcastle Upon Tyne area.” Please contact us on 0191 213 5603 for your copy.

Friday, 27 February 2009

Let us look after your nest egg

Property ownership combines the benefits of rental income and capital growth but it’s important to choose the right property. Buying a house or flat as an investment is very different from buying a home to live in.

At Martin & Co Newcastle upon Tyne we recognise this. As a landlord your decision should not just be based on emotion but on additional factors such as property type, location, price and condition.

Operating in the local area we can advise landlords on the potential income they can expect to receive from various property types. A landlord can also choose from a range of services including fully managed, rent collection and tenant find.

Despite mixed media reports about the property market, the less romantic world of lettings can take a more relaxed view of such media speculation compared to the more volatile world of house sales.

The lettings market is maturing and at Martin & Co Newcastle upon Tyne we will continue to strive to be at the forefront, developing and delivering exceptional service quality throughout Newcastle upon Tyne and Tyneside.

Monday, 23 February 2009

Martin & Co are ahead of the game with Energy Performance Certificates

As of the October 1st, Martin & Co Newcastle Upon Tyne are working closely with landlords to ensure Energy Performance Certificates (EPC’s) are available for all their properties available for rent with a new tenancy (in England and Wales) starting on or after this date.

As residential lettings are our core business we have to keep up to speed with the changes in legislation. We are used to keeping our landlords briefed on such changes, that is just one of the benefits to a landlord of using an agent.

We are working with local, well established contractors to provide our EPCs and not only to our Fully Managed properties but even if we are just finding you a tenant you can still benefit from this service. We can arrange to carry out the assessment for a fee of £65.00 + VAT with our easy ordering system.

Please call Luke, your Property Manager on 0191 253 5666 or email on whitleybay@martinco.com to discuss or order.

Monday, 23 February 2009