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What has happened in the world of residential lettings over the last year and what is expected to happen in 2019?
Kellie Marsh, Residential Lettings Manager, shares all:
“We let 80 residential properties in 2018, a 38% increase to 2017 and generally at increased rents. On average we let three bedroom properties for £995 per calendar month which is up by 11% from the year before. Due to this, tenants are expecting houses to be of a higher standard and are therefore viewing a larger selection of properties to ensure they find the right one. Those tenants who do find the right property are staying put for longer, averaging 3-4 years.
In addition to letting properties, we also manage 400 properties on an ongoing basis and have worked with some of our landlords for many years. We have taken on more management properties, particularly due to an increase in regulations which landlords don’t want the hassle of sorting out themselves.
We currently have 21 properties to let, which is a good amount for January, so stock levels are at a high. Viewings are increasing by the week as we get over the January slump so I expect many of these properties won’t hang around for long. Now seems to be a good time to put your property on the market. We have two promotions running at the moment for both new and current landlords.”
To find out more or to discuss how Robinson & Hall can help you, please contact Kellie Marsh.
The Ministry of Housing, Communities and Local Government (MHCLG) has announced that five-year electrical installation checks on private rented housing in England will be mandatory.
The implementation date has not yet been confirmed but MHCLG has stated that it plans to introduce the legislation as soon as possible.
In year one all new private tenancies will be affected and in year two all existing tenancies will come within scope. Properties that already have a valid Electrical Installation Condition Report (EICR) will not need to replace it until five years have passed since it was issued.
Kellie Marsh, Residential Lettings Manager at Robinson & Hall, comments, “We organise five yearly checks on all of our managed properties anyway and those which aren’t managed, we ask landlords to do this, so the new regulations won’t affect our day to day operations.”
Kellie continues “We also ensure that any inspectors hired to issue an EICR hold the correct qualifications and are competent to carry out the inspection.”
We will keep all clients updated on the launch date once the Government announces it.
In the meantime if you have any queries or would like to find out how Robinson & Hall Lettings can help you, please contact Kellie Marsh.
Despite reports of doom and gloom in the property market, the latest Auction House figures suggest that buying and selling through regional auctions has not been affected by Brexit.
Not only has the group – which operates as Auction House Robinson & Hall in Bedfordshire and Buckinghamshire – entered more lots into its first round of auctions than last year (802 compared to 754), but the first six sales of the year delivered an astonishing success rate of over 80%.
Charles Lovell, Head of Auction said: “The very nature of selling property at auction makes it less susceptible to economic uncertainty than other methods of sale. Auction finds buyers quickly and enables sellers to turn property assets into cash without delay. That speed, which can generate an exchange of contracts within 3-4 weeks of instruction, is a solution that sellers love.
“Estate agents may claim that people are biding their time until the UK has left the European Union – but that’s not what we’re seeing in our sales rooms. Our lot numbers are up, our sales rooms are busy, and we seem to be largely unaffected by the Brexit process.”
Charles says that their figures prove that buyers are still buying local properties through regional auction rooms. For sellers, there are six questions that should be asked, to determine whether auction would be right for them
He explained: “Firstly – is the property you want to sell empty? If so, you’ll want to sell it fast and by auction. Secondly – is it mortgageable? If it isn’t, you should definitely choose auction. Thirdly – would it benefit from refurbishment? If so, auction buyers will compete for it and push the price up.
“Fourthly – is the property commercial or mixed use? Both of those categories of property sell better by auction than other methods. Fifthly – is the property a parcel of land, or a building or development project? Again, if so, auction is an ideal method.
“And finally – is your property tenanted? The beauty of auctions is that you can sell it as an investment without needing to empty the property first. That way, you’ll receive rent through to completion, and the purchaser will start receiving rent from the day they take ownership.”
Charles added: “2018 was a year when more sellers chose the auction route and achieved a result when estate agents in the private treaty process had failed them. Yes, buyers will need to have funds in place, but they’ll find auction properties keenly priced, and the process reassuringly quick and certain.
“So our advice is don’t hold back – call us soon because we could sell your property at auction and enable you to move on with your life.”
For further information or to book a free no obligation auction appraisal, please call 01234 362899.
Recent reports show that councils are not taking enough enforcement action against ‘rogue’ landlords. The Housing Minister, Heather Wheeler, has therefore announced that £2 million will go towards tackling this issue.
Councils will be able to bid for funding to step up enforcement action against irresponsible landlords. This is part of the Government action to increase standards in the private rented sector.
Heather Wheeler MP comments “Everyone deserves to live in a home that is safe and secure, and it is vital we crack down on the small minority of landlords who are not giving their tenants this security”.
The funding will help further strengthen councils’ powers and ensure that poor quality homes are improved, making the housing market fairer for all.
Kellie Marsh, Lettings Manager at Robinson & Hall, comments “At last local authorities are able to invest in innovative ways to put a stop to rogue landlords. We carry out thorough checks on both the landlords and properties before searching for high quality tenants. We are also members of a number of respected governing bodies, including The Royal Institution of Chartered Surveyors (RICS), Propertymark and Safe Agent Fully Endorsed (SAFE) adding reassurance that you are dealing with experts who aim to deliver first class customer service.”
If you have a property to let and would like to organise a no obligation lettings appraisal then please contact Kellie Marsh, Lettings Manager.
Lettings fees is a much talked about subject in the House of Lords. So it’s no surprise that the Tenant Fees Bill had its third reading.
The Ministry of Housing, Communities and Local Government has announced that the ban on tenant fees will apply to all tenancies commencing on or after 1st June 2019.
The Bill has passed all legislative stages in the House of Lords and has passed its final hurdle in the House of Commons so will now receive Royal Assent before becoming law.
Kellie Marsh, Lettings Manager at Robinson & Hall, comments “We have always been very clear on the fees we charge both landlords and tenants and we believe our fees are competitive compared to other lettings agents. We are aware that it is an extra cost that some tenants haven’t factored in so the abolishment of them will avoid any surprises”.
We currently have 23 properties to let at Robinson & Hall, from a one bedroom flat to a six bedroom character farmhouse. Please visit our website to see a list of available properties and book a viewing.
For further information or to book a viewing by phone please call Kellie Marsh, Lettings Manager.
The Architecture & Building Surveying department at Robinson & Hall has successfully obtained planning consent for another exciting project in South Bedfordshire.
A detailed building survey was carried out and although the building was generally sound, this identified several essential repairs to address roof leaks. The clients also wanted to use the opportunity to reconfigure some of their internal accommodation.
After a few sketch schemes, we agreed a design for an ‘upside down house’. This provides most of the living accommodation on the first floor, which also takes advantage of the great open countryside views to the rear.
By reconfiguring the roof and internal arrangement, we also managed to create additional floor area which was previously unused loft space. This floor space has been created without increasing the overall footprint of the building, therefore significantly enhancing the property.
The team is currently preparing detailed drawings to submit for building regulations approval as well as obtaining contractors’ quotations for the works. Robert Franklin, Head of Architecture & Building Surveying at Robinson & Hall, comments: “This project has yet again seen our in-house specialists come together to successfully obtain planning permission for our clients and we look forward to project managing the works in 2019.”
If you are looking to reconfigure your property and/or would like Architecture & Building Surveying advice, please contact Robert Franklin, Head of Architecture & Building Surveying.
What did and did not happen in 2018 and what changes are ahead in the world of planning and development in 2019?
2018 saw several changes to the planning system:
The November deadline for publishing a list of offending councils was missed and an announcement is still awaited. In the interim, the Local Plan process remains slow and cumbersome and leads to further uncertainty.
What is to come in 2019?
Robinson & Hall’s Planning and Development teams have had some notable successes with promoting land for development in 2018, achieving consents on predominantly greenfield land for some 3,000 new homes across several sites. There are approximately 2,500 homes in the pipeline in 2019 with a number of our sites being given draft allocations in the emerging Local Plans.
Regardless of the current political upheaval, we anticipate another busy year ahead. Please contact the Planning & Development team if you wish to discuss the implication of the changes outlined in this article.
All land claimed under the Basic Payment Scheme (BPS) is subject to the rules of cross compliance. It is the claimant’s responsibility to ensure they do not breach any of the statutory management requirements or standards for Good Agricultural and Environmental Conditions. The Rural Payment Agency (RPA) penalises claimants who breach these rules. Penalties vary depending on the severity but can be up to 100% of the claimant’s BPS payment.
There is still some confusion over hedge cutting. The three key hedge cutting dates for BPS claimants are:
Guidance defines a hedge as: “…a boundary line of bushes which can include trees.” The guidance specifies a hedge is protected if it is:
Claimants can apply to the RPA for derogation to allow hedges to be cut from 1st August if the hedges in question are in fields being sown with oilseed rape or temporary grassland in August. Applications are usually processed in 15 working days but those considering applying for derogation should do so as soon as they can.
There are exemptions where a hedge can be cut (with permission from the RPA) for safety reasons during the closed period if it is:
For further guidance on cross compliance rules, please refer to the GOV.UK website.
Please keep in mind that between 1st September and the end of February, although hedges may be cut, this must be in accordance with the Hedgerow Regulations 1997.
For further information or to discuss any of these points please contact Bruce Holley, Rural Surveyor.
Leading property auctioneer Auction House – which has a franchise operated by Robinson & Hall – has reported increased sales for 2018 of 6.9%, raising a total of over £455m (£455,131,080), a record amount in the 11 year history of the group.
Last year, Auction House sold 3,680 lots from almost 5,000 lots offered (4,971), representing a success rate of 74%.
Commenting on the latest figures, Charles Lovell, Head of Auction House Robinson & Hall, said: “This is a remarkable result for 2018, especially against such a challenging background, with political uncertainty a significant and ever-present factor. It’s good to add yet another step to our market share staircase – at a time when nearly every one of our competitors has seen volumes falling – and achieve incremental growth for the 11th year in succession.
Last year we offered over 100 lots and sold 75%. Charles added: “Our early listings for 2019 auctions are already looking good too. We currently have 18 lots in our 26th and 28th February auctions which range from bare land to a nine bedroom chalet! You can view our lots available here.”
“Interestingly, many vendors are now telling us that they want to sell this tax year and before Brexit Day. For this reason, we expect entry levels to stay strong in the first quarter.”
“Local knowledge and keen pricing are the key ingredients for successful auctions in a difficult climate, and Auction House, with its 40 auction rooms, is best-positioned to deliver.”
“Looking further ahead, whatever happens with the Brexit process will inevitably have an impact on the market; but the latest figures certainly mark a very positive end to 2018.”
We are now taking lots for our February auctions in Milton Keynes and Luton. Call 01234 362899 to book a free auction appraisal.
