Drewery Property Services

Drewery Property ServicesAddress: 128 Station Road, Sidcup, Kent, DA15 7AF Telephone: 020 8300 6761http://www.drewery.co.uken-gbinfo@drewery.co.ukwww.AcquaintCRM.co.ukSat, 04 Feb 2012 12:00:00 GMThttp://www.acquaintcrm.co.uk/customers/DREW/logo.gifDrewery Property Serviceshttp://www.drewery.co.uk1 Bedroom Flat, Sidcup £134,500.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=486Delightful 1 Bedroom Second Floor Flat in popular residential location ** WALKING DISTANCE TO STATION ** ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Wed, 17 Jun 2009 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=4864 Bedroom House, Sidcup £450,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=1245Substantial 5 Bedroom, 3 Reception, End Of Terrace House Ideal For Large Family or Conversion to Separate Dwellings (STPP)Fri, 31 Jul 2009 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=12454 Bedroom Detached, Wilmington £636,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=483Delightful 4/5 Bedroom Potton Character Detached House Set On Good Size Attractive Mature Plot ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Mon, 21 Jun 2010 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=4834 Bedroom Semi-Detached, Sidcup £335,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=767A Four Bedroom Extended Semi Detached house enjoying a sought after location ** Next to Our Lady of The Rosary Catholic Primary School **Wed, 14 Jul 2010 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=7672 Bedroom Maisonette, Sidcup £175,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=1740Purpose Built 2 Bedroom First Floor Maisonette With Recently Refitted Kitchen & Bathroom And A Short Walk To Sidcup Station IDEAL "BUY TO LET" OPPORTUNITY - CURRENTLY LET ON AN ASSURED SHORTHOLD TENANCY **VIDEO PRESENTATION AVAILABLE ON THIS PROWed, 08 Sep 2010 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=17404 Bedroom Semi-Detached, The Hollies £649,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=1091Superb 4 Bedroomed Semi Detached Edwardian House In Parkland Setting With Onsite Leisure Club And Pool. ** EXCELLENT CONDITION THROUGHOUT **Wed, 15 Sep 2010 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=10913 Bedroom Semi-Detached, Sidcup £289,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2438Situated In A Popular Residential Position, A 3 Bedroom Semi Detached House With Through Lounge, Fitted Kitchen & Bathroom. 75` Rear Garden. Potential to Extend (STPP). ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Tue, 23 Nov 2010 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=24385 Bedroom Semi-Detached, Sidcup £350,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2530A Unique Well Maintained And Re-Modelled 5 Bedroom Semi Detached House Which Offers Plenty Of Living Space With A Spacious Loft Conversion. Must Be Viewed InternallyWed, 11 May 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=25302 Bedroom Apartment, Sidcup £186,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2621Larger Than Average Two Bedroom Ground Floor Purpose Built Flat, Located Directly Opposite Sidcup Place. ** SHARE OF FREEHOLD ** * VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Fri, 20 May 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=26214 Bedroom Detached, The Hollies £450,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=561Recently Refurbished 4 Bedroom Detached House Located In Quiet Cul-De-Sac On The Sought After "Hollies Development. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Tue, 24 May 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=5612 Bedroom Terrace, Sidcup £199,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2609Two Bedroom Terraced House In Need Of Some Modernisation ** CHAIN FREE ** OPEN TO REASONABLE OFFERS ** Wed, 01 Jun 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=26093 Bedroom Semi-Detached, Sidcup £287,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2646Well Presented Brick Fronted 3 Bedroom Victorian House Located In A Sought After Location. Double Glazed. Gas Central Heating. Walking distance to Sidcup Station.Tue, 07 Jun 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=26462 Bedroom Flat, Sidcup £172,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2622A Spacious And Very Well Presented 2 Bedroom Split Level Flat In A Convenient Location, Close To Sidcup Station, Schools And Local Shops. ** SHARE OF FREEHOLD ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Wed, 15 Jun 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=26221 Bedroom Flat, Sidcup £135,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2669** NO CHAIN ** SHARE OF FREEHOLD ** A Purpose Built One Bedroom Ground Floor Flat Located In Convenient Position For Sidcup Station, Shops, Bus Routes & Local Amenities.Thu, 16 Jun 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=26695 Bedroom Detached, Sidcup £479,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2689Well presented five bedroom detached house offering generous sized accommodation and situated within easy reach of stations, shops, bus routes and schools (both primary and secondary). ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Thu, 04 Aug 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=26893 Bedroom Link-Terrace, Sidcup £249,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2743OFFERED CHAIN FREE Modern 3 Bedroom Mid Terrace House, Conveniently Located For Sidcup Station, Shops, Schools & Bus Routes. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Fri, 12 Aug 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27434 Bedroom Detached, Sidcup £1,775.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2161Superb 4 Bedroom Detached House: PART FURNISHEDSat, 13 Aug 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=21614 Bedroom Detached, The Hollies £529,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2747A Spacious 4 Bedroom Detached House Located In A Secluded Cul-de-sac Location In the Popular And Sought After "Hollies" Development ** Offered Chain Free **Fri, 19 Aug 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27474 Bedroom Semi-Detached, Sidcup £349,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=27224 Bedroom Semi Detached House Offering Spacious Living Accommodation In A Convenient Location. Offering Easy Access To Sidcup Station, Local Shops And Schools. * VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Fri, 19 Aug 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27223 Bedroom Terrace, Sidcup £250,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2659Attractive Bay Fronted 3 Bedroom Victorian Mid Terrace House Situated In One Of The Sought After "County Roads" With Easy Access To Sidcup High Street. ** VIDEO PRESENTATION AVAILABLE ON PROPERTY **Thu, 25 Aug 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=26594 Bedroom Detached, Sidcup £695,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2217Located in Christchurch Conservation Area, A Deceptively Spacious 4 Bedroom, 3 Reception Detached House With a 120` Rear Garden And Within Walking Distance Of Sidcup Station. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Mon, 05 Sep 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=22173 Bedroom Bungalow, Bexleyheath £399,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2328Detached 3 Bedroom Bungalow Located In A Quiet Close And Occupying A Large Plot. Offering Great Potential With A Rear Garden Approx 80` x 75`, Double Garage, Lounge 23`0 x 18`3, Kitchen 12`0 x 11`10. Gas Central Heating And Double Glazing.Mon, 05 Sep 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=23283 Bedroom Semi-Detached, Sidcup £249,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2768Extended 3/4 Bedroom Semi Detached House Situated In A Popular Location Just Off Blackfen Road And Convenient For Amenities Including Shops, Schools, Bus Routes & Motorway Networks. **VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY**Fri, 09 Sep 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27683 Bedroom Semi-Detached, Sidcup £279,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2765Extended 3 Bedroom Semi Detached House Located In A Popular And Convenient Location With Easy Access to Local Schools, Shops & Bus Routes. **VIDEO PRESENTATION AVAILABLE FOR THIS PROPERTY**Mon, 12 Sep 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27652 Bedroom Flat, Hextable £1,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2780Superb 2 bedroom penthouse apartment situated in sought after development and with private balcony: UNFURNISHEDWed, 21 Sep 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27803 Bedroom Apartment, Southampton £350,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=1246Split Level 3 Bedroomed Apartment In Sought After Location Situated In Established Gardens, With Extensive Views Over The Yachting Haven Of River Hamble And Countryside BeyondWed, 21 Sep 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=12461 Bedroom Flat, Sidcup £139,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2782A Modern & Recently Refurbished One Bedroom First Floor Conversion Flat Within Walking Distance To Sidcup Station And Shops. ** IMPRESSIVE ATTRACTIVE CHARACTER BUILDING ** ** Chain Free ** ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Tue, 27 Sep 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27822 Bedroom Flat, Sidcup £159,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2767Spacious 2 Bedroom Ground Floor Flat Close To Local Amenities ** IDEAL INVESTMENT ** CHAIN FREE **Mon, 10 Oct 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27672 Bedroom Maisonette, Sidcup £195,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2733Spacious 2 Bedroom Ground Floor Maisonette With Own Gardens To Front & Rear. Situated In A Sought After Location. ** CHAIN FREE ** LONG LEASE ** Fri, 14 Oct 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27335 Bedroom Detached, Bexley Park £729,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2788Modern & Attractive, 5 Bedroom, Double Fronted Detached House, Situated In This Much Sought After Development on Bexley Park. Conveniently Situated For the A2/M25 And With Easy Access to Bexley Village. ** VIDEO PRESENTATION AVAILABLE ON PROPERTY Tue, 18 Oct 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27881 Bedroom Flat, Sidcup £129,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2807Well Presented One Bedroom First Floor Flat Situated Within Walking Distance of Sidcup Station, Shops, Schools And Bus Routes. ** LONG LEASE ** ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Tue, 01 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28072 Bedroom Terrace, Sidcup £228,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2754Charming Two Bedroom Victorian Property Located In A Sought After Location Providing Easy Access To Sidcup Station, Local Shops Including Sidcup High Street And Some Excellent Schools. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY*Tue, 01 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27543 Bedroom Semi-Detached, Albany Park £249,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=28291930`s Built, 3 Bedroom Semi Detached House, Located In A Popular Residential Area Within Easy Reach Of Albany Park Station. Chain Free - Open To Reasonable Offers - Recommended For Early Viewing.Thu, 03 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28293 Bedroom Flat, Sidcup £225,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2559A Luxury 3 Bedroom Top Floor Flat. Spacious And Well Presented, This Purpose Built Flat Is Located In A Sought After Location Providing Easy Access To Sidcup Station, Shops & Schools. ** CHAIN FREE ** ** VIDEO PRESENTATION AVAILABLE **Tue, 08 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=25593 Bedroom Terrace, Sidcup £1,100.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2827Spacious 3 Bedroom Victorian Terrace House: UNFURNISHED:Tue, 08 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28274 Bedroom Semi-Detached, New Eltham £427,500.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=28314/5 Bedroom Extended Chalet Style House Located In A Sought After Residential Area Within Easy Access Of Both Sidcup & New Eltham Stations And Dulverton School Catchment Area. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY**Wed, 09 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28311 Bedroom End Terrace, Crayford £142,500.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2812Rare Opportunity To Purchase A One Bedroom Freehold House. Spacious & Well Presented Accommodation. Private Rear Garden. Two Car Parking Space. ** CHAIN FREE ** ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Wed, 09 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28124 Bedroom Semi-Detached, Bexley £375,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2524Extended Four Bedroom Semi Detached House Situated On Corner Plot. Gas Central Heating. Double Glazing. 30`4 x 12`1 Lounge. Office/Second Lounge. *****LOOKING FOR FAMILY HOME WITH ANNEX/GROUND FLOOR ACCOMMODATION ON CORNER PLOT*****Fri, 11 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=25243 Bedroom End Terrace, Bexley £1,200.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=28663 Bedroom End Of Terrace House: UNFURNISHED 19/12 - BACK ON MARKET - CALL NOW TO BOOK A VIEWING.Fri, 11 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28661 Bedroom Flat, Sidcup £150,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2872A Spacious And Well Presented One Bedroom Top Floor Flat Located In Convenient Position For Sidcup Station, Shops, Bus Routes & Local Amenities. ** NO CHAIN ** SHARE OF FREEHOLD ** ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY** Fri, 11 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28722 Bedroom Terrace, Sidcup £199,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2824Modern And Very Well Presented 2 Bedroom House. Gas Central Heating. Double Glazing. Close To Local Amenities Including Shops, Schools And Good Road Links. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Mon, 14 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28243 Bedroom Semi-Detached, Sidcup £399,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2873Three Bedroom Semi Detached `B` Type Chalet House Located In A Popular Position Within Walking Distance Of Good Secondary Schools, Sidcup Station And Bus Routes. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY**Wed, 16 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28733 Bedroom Detached, Bexley £338,750.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2756Spacious And Well Presented 3 Bedroom Detached House Located In A Sought After Location Providing Easy Access To Local Schools And Amenities. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY ** Fri, 18 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27562 Bedroom Maisonette, Sidcup £159,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=27982 Bedroom Detached Ground Floor Maisonette In Need Of Some Modernisation. Private Rear Garden & Garage En Bloc. **Chain Free**Mon, 21 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27982 Bedroom Apartment, Ingress Park £1,100.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=520A 2 Bed Duplex Apartment: UNFURNISHEDTue, 22 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=5202 Bedroom Flat, Sidcup £850.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=14032 Bedroom First Floor Flat: UNFURNISHED £850PCM - NOW WITH GARAGE.Tue, 29 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=14032 Bedroom Flat, Sidcup £187,500.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2810Large Two Bedroom Split Level Flat With Balcony Offering Views Of The Surrounding Area. Sought After Location Providing Easy Access to Sidcup Station, Shop And Schools. ** LONG LEASE ** **VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Tue, 29 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28105 Bedroom Semi-Detached, Sidcup £1,400.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2889Lovely 5 Bedroom Extended Semi Detached House: UNFURNISHEDWed, 30 Nov 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28891 Bedroom Maisonette, Bexleyheath £125,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2899Victorian One Bedroom Ground Floor Maisonette, Conveniently Located For Easy Access To Bexleyheath Broadway. This Character Property Has The Benefit Of Gas Central Heating & Part Double Glazing * VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Tue, 13 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28993 Bedroom Terrace, Sidcup £235,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2885Well Presented 3 Bedroom Terrace House Located In A Sought After Location, Convenient For Sidcup Station, Shops, Schools & Bus Routes. Gas Central Heating. Double Glazing. **VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Tue, 13 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28854 Bedroom Semi-Detached, Sidcup £340,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2709Spacious Extended 4/5 Bedroom Chalet Style Semi Detached House Offering Easy Access To Sidcup Station, Shops And Sought After Schools, including Chatsworth Primary. Competitively Priced To Allow Further Improvements. ** VIDEO PRESENTATION AVAILABLE *Tue, 13 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27092 Bedroom Terrace, Lee £269,950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2886A 2 Bedroom Period House Requiring Some Updating. Situated In This Convenient & Popular Location Within Easy Access Of Blackheath Village With Its Variety Of Amenities, Including Shops, Bars, Restaurants And Station. **VIDEO PRESENTATION AVAILABLE **Wed, 14 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28864 Bedroom Terrace, Eltham £1,495.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2359Large 3/4 Bedroom Terraced House: UNFURNISHED VIEWINGS SAT 4TH FEB - CALL NOW TO BOOK A VIEWING - 020 83006761Thu, 15 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=23592 Bedroom Flat, Sidcup £875.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=14122 Bedroom Luxury Apartment: UNFURNISHEDSat, 17 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=14123 Bedroom Flat, Sidcup £1,150.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=18423 Bedroom Flat: UNFURNISHED TO INCLUDE ALL UTILITIES - GAS, WATER & ELECTRICITYThu, 22 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=18424 Bedroom Semi-Detached, Sidcup £1,150.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=13874 Bedroom Extended Semi Detached House: UNFURNISHEDWed, 28 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=13872 Bedroom Apartment, Sidcup £825.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=284A unique 2 bed, 2 bathroom conversion flat: UNFURNISHED:Wed, 04 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=2841 Bedroom Bedsit, New Eltham £395.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2794Spacious Bedsit close to station: UNFURNISHEDWed, 04 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=27941 Bedroom Maisonette, Sidcup £675.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2281 Bedroom First Floor Maisonette: UNFURNISHEDThu, 05 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=2282 Bedroom Bungalow, Bucknall £550.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2272Spacious Two Bedroom Bungalow In Quiet Location: UNFURNISHEDFri, 06 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=22721 Bedroom Flat, Sidcup £675.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=12021 Bedroom Ground Floor Flat: UNFURNISHEDMon, 09 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=12023 Bedroom Semi-Detached, Orpington £305,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2911A Lovely Spacious 3 Bedroom Semi Detached House Situated In a Popular Residential Road Close To The Ever Popular Warren Road Primary School And Chelsfield Railway Station. ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Mon, 09 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29113 Bedroom Semi-Detached, Sidcup £294,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2908A Spacious 3 Bedroom Semi Detached House Offering Ample Living Space. Within Eas Access Of Local Shops Including A Convenience Store, Sought After Schools, New Eltham And Sidcup Train Stations And Offers Good Bus Routes. **CHAIN FREE**Tue, 10 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29082 Bedroom Maisonette, Sidcup £850.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=625A Two Bed Ground Floor Maisonette: UNFURNISHED:Wed, 11 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=6253 Bedroom Semi-Detached, Orpington £1,100.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2830Spacious 3 Bedroom House With Easy Access To Orpington High Street: UNFURNISHED: BACK ON MARKET - NOW NEWLY REDECORATED & NEW GAS CENTRAL HEATING.Wed, 11 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=28305 Bedroom Semi-Detached, Sidcup £449,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=1044Extended 5 Bedroom Semi Detached Chalet Style House Occupying A Commanding Corner Plot. Located In One Of The Areas More Desirable Roads Within Easy Reach Of Good Schools, Both Primary & Secondary, And Other Amenities Including Sidcup Station.Fri, 13 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=10442 Bedroom Apartment, Royal Tunbridge Wells £650.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2922Choice of 1 and 2 bed apartments close to station: UNFURNISHEDSat, 14 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29222 Bedroom Apartment, Walworth £300.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2925Spacious 2 bedroom apartment to let in Walworth, London: UNFURNISHEDMon, 16 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29254 Bedroom Semi-Detached, Sidcup £359,995.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2384Well Presented 4/5 Bedroom Extended Chalet Style Semi Detached House. Providing Easy Access For Both New Eltham And Sidcup Train Stations, Local Shops And Sought After Schools. **CHAIN FREE** ** VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY **Mon, 16 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=23842 Bedroom Flat, Sidcup £850.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=506A Spacious 2 Bed Ground Floor Conversion Flat: UNFURNISHED:Wed, 18 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=5062 Bedroom Flat, Sidcup £675.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=383A 2 bed 1st floor flat: UNFURNISHED:Fri, 20 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=3833 Bedroom End Terrace, Sidcup £950.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=7923 Bedroom Terraced House: UNFURNISHED:Fri, 20 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=7922 Bedroom Maisonette, Sidcup £825.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=1141A 2 bed first floor Maisonette: PART FURNISHED:Fri, 20 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=11414 Bedroom Detached, Sidcup £550,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2915Modern 4 Bedroom Detached House Occupying A Superb Position Backing Onto Open Fields, Within A Select Gated Development Of Just Seven Homes. Ideal For The Commuter With Sidcup Station Just 0.3 Miles Away. **VIDEO PRESENTATION AVAILABLE ON THIS PROPERTY*Fri, 20 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29151 Bedroom Flat, Dartford £600.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=180A 1 Bedroom 1st Floor Flat: UNFURNISHED:Mon, 23 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=1802 Bedroom Terrace, Ash Vale £895.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2935Spacious 2 bedroom House for rent close to station: FURNISHEDTue, 24 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29352 Bedroom Semi-Detached, Stoke On Trent £495.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2936two bedroom house close to hospital: UNFURNISHEDTue, 24 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29363 Bedroom Terrace, Sidcup £1,100.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2928Refurbished 3 Bedroom Mid Terraced House: UNFURNISHEDWed, 25 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29283 Bedroom Semi-Detached, Sidcup £247,500.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2932A Deceptively Spacious Three Bedroom Extended Semi Detached House, Which In Our Opinion Is Conveniently Located For Local Shops, Bus Routes And Some Sought After Schools. Gas Central Heating. Double Glazing. ** CHAIN FREE **Wed, 25 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29323 Bedroom Semi-Detached, Sidcup £1,200.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=8403 Bed Semi Detached House: UNFURNISHED:Wed, 25 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=8403 Bedroom Terrace, Sidcup £1,000.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=7803 Bed Victorian Mid Terraced House: UNFURNISHED:Wed, 25 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=7803 Bedroom Semi-Detached, Sidcup £1,100.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=24113 Bed Semi Detached House: UNFURNISHEDWed, 25 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=24111 Bedroom Flat, Swanley £595.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=20091 bedroom flat: UNFURNISHEDThu, 26 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=20092 Bedroom Maisonette, Bexleyheath £142,500.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=2917Two Bedroom Ground Floor Maisonette Located In A Close Within Easy Access Of Bexleyheath Town Centre. Requiring Some Updating And Decorating Throughout, We Feel This Property Has Been Competitively Priced. ** CHAIN FREE** GOOD LEASE **Fri, 27 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=29171 Bedroom Flat, Sidcup £700.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=495A 1 Bed Ground Floor Flat: UNFURNISHED:Tue, 31 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=4953 Bedroom Semi-Detached, Sidcup £1,200.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=7603 Bed Semi-Detatched House: UNFURNISHED:Wed, 01 Feb 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=7602 Bedroom Flat, Bexley £900.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=1756A Spacious 2 Bed Apartment: UNFURNISHED:Wed, 01 Feb 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=17562 Bedroom Flat, Bexleyheath £795.00http://www.drewery.co.uk/propertydetails.aspx?PropertyID=642A 2 Bed Top Floor Flat: UNFURNISHEDFri, 03 Feb 2012 12:00:00 GMThttp://www.drewery.co.uk/propertydetails.aspx?PropertyID=642Sidcup Agent Chosen To Trial New `Sales Pack`http://www.drewery.co.uk/newsdetails.aspx?ID=1001DREWERY Property Services are delighted to celebrate their 60th year in Sidcup by announcing an innovative unique service they will be offering to their clients – a free ‘PRE SALES PACK’, designed to offer a speedier transaction for both buyers and sellers. From January 2007 all residential properties must be offered for sale with a Home Information Pack (HIP), and the procedure for selling a property will experience significant changes. In order to be ready for these changes, Drewery have teamed up with LMS, (Legal Marketing Services) - one of the UK’s largest suppliers of outsourced conveyancing and survey services - to provide home buyers and sellers a fast and efficient customer focused service. Drewery are proud to have been chosen by LMS to trial their new ‘PRE SALES PACK’ in preparation for the full HIP service in January 2007. The pack will collate much of the legal information required for the sale of a property at the time the property is offered for sale, and will significantly cut back the time taken for the sale to reach a completion. Drewery’s Sales Manager, Keith Halley, firmly believes this will enhance even more the quality of their customer service, and provide the company with the necessary expertise to offer the full ‘seller`s pack’ when HIP’s come into being middle of 2007. Established in 1945 by Edward Drewery, Drewery Property Services have always strived to offer the highest standard of service, incorporating latest technology and personal service, and are delighted to have been appointed as local representative of a panel of nationwide Estate Agents, approved to offer the pack now. For fuller details of the Pack, and Drewery’s range of services, contact them today on 0208 300 6761 or call into their offices at 128 Station Road, Sidcup. Mon, 12 Dec 2005 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1001Sidcup Agency Offers ‘the Complete Property Service’http://www.drewery.co.uk/newsdetails.aspx?ID=1000DREWERY PROPERTY SERVICES have been established in the Borough of Bexley for nearly 60 years, and their extremely successful Sidcup office, based near Sidcup Station has attracted vendors, purchasers, landlords and tenants for much of that time. Drewery’s offer a very comprehensive package of property related services including residential sales, lettings, property management, conveyancing, surveys, professional valuations, mortgages, financial services and ‘Buy to Let’ advice, and tailor-made insurances for the rental sector. Their aim is for the client to have to look no further for professional property services than their offices, and believe they are now able to offer the ‘complete package’ to vendors, landlords, purchasers and tenants. The company has a team of 18 members of staff, working in individual Departments, each of which has its own Manager, who ensure that all staff offer the high standard of service which the company’s Directors firmly believe their clients have the right to expect. One satisfied property seller recently took the time to inform the company that until he had dealt with Drewery’s, he ‘had no faith in the Estate Agency profession’. The service he received when selling his home has made him change his mind, and he will be looking for the same high standards in the future if he moves again. Drewery’s believe that their attention to their clients and the need for them be kept fully informed of developments is the key to their success. The number of ‘sold’ and ‘let by’ boards in the locality are immediate proof of their success in the Sidcup and surrounding areas. Drewery’s are members of the National Association of Estate Agents and Association of Residential lettings Agents who both have stringent membership requirements and Codes of Conduct. Staff benefit from the training, which these organisations are able to offer their members, and all clients’ monies are fully safeguarded by the ARLA Bonding Scheme, to provide peace of mind to both landlords and tenants. If you are looking for the ‘complete’ property service, and are thinking of selling or letting a property in he near future, do contact Drewery’s staff on 0208 300 6761 or e-mail them at info@drewery.co.uk, or call into their offices at 128 Station Road, Sidcup, Kent DA15 7AF. They will be pleased to provide you with full details of their services, and offer a free ‘market appraisal’ of your property for buying or renting purposes. Thu, 12 Jan 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1000Brand New Image For Sidcup Agenthttp://www.drewery.co.uk/newsdetails.aspx?ID=1002Drewery Property Services celebrated the completion of their 60th year of business in the local area with the launch of a brand new image. With major changes within the Estate Agency industry due to take effect next year, (with the arrival of Home Information Packs – HIPS) Drewery‘s Directors decided to make a major investment into ensuring that not only are they fully prepared for the changes, but that the presentation of their company’s services are reflected by a new, modern professional image. They now have a bright new logo incorporated into their property particulars and stationery. Advertisements have been professionally re-designed and their offices will soon have an impressive new shop front and signage plus the latest computerised window displays. The most important change is their new Web Site (www.drewery.co.uk). A lot of time and has been spent by the company’s Directors to ensure that the site fully describes their services, properties are displayed very quickly after they come onto the market, and purchasers and tenants are able to download and print full particulars of any property. There are links to provide fast competitive mortgage and conveyancing quotations plus a facility to ‘track’ how a sale is progressing. The Drewery Directors have been delighted with the excellent response their new web site has received since it was launched in the new year. Another innovative service they are offering is their ‘Pre Sale legal pack’. This is a free service, which is designed to speed up the sale once a buyer has been found. For details of this and our Sales or Lettings services, do visit the Drewery Web site www.drewery.co.uk or contact them by telephone 0208 300 6761, or call into their office at 128 Station Road, Sidcup. Thu, 23 Feb 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1002Retirement After Nearly 60 Years!http://www.drewery.co.uk/newsdetails.aspx?ID=1003Norma Billings recently retired from Drewery Property Services’ Sidcup office after working there for nearly 60 years! At a special lunch held in her honour, the company’s Directors thanked her for her years of loyalty and wished her a healthy and happy retirement. Having joined as a 17 year old, when Edward Drewery founded the company soon after the Second World War, Norma has seen so many changes over the years, and takes great delight in recalling these. At the age of 65, Norma ‘officially’ retired, and was presented with a watch in acknowledgement of the contribution she had made to the company over the years and her length of service. However, her love of Estate Agency was so great, and she has continued working as a Sunday Negotiator until recently, having clocked up an incredible 57 years with Drewery’s! Thu, 23 Feb 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1003Estate Agent Supports Safety Education For Local Childrenhttp://www.drewery.co.uk/newsdetails.aspx?ID=1004Drewery Property Services in Sidcup are delighted to have been able to support The Children’s Safety Education Foundation (a charitable foundation working in conjunction with the Metropolitan Police) by making a donation to their local child safety initiative. With the assistance of the local business community, the Children’s Safety Education Foundation provide children in the Bexley Borough with access to their educational safety programme. Topics covered include Bullying, Vandalism, First Aid, Fire Safety, Road Safety, Car Crime, Drug, Alcohol and Solvent miss-use and Anti Social Behaviour. The initiative complements their philosophy of being community focussed and utilising partnerships with local businesses to help keep children safe. The money donated by Drewery’s was used to fund the cost of special ‘safety handbooks’ which are presented to local children to underline the issues raised during the in-school safety programme. More information on their work can be found on their website www.csef.net. Thu, 23 Feb 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1004How To Find A Reputable Estate Agenthttp://www.drewery.co.uk/newsdetails.aspx?ID=1005The recent television programmes about disreputable Estate Agents will have put fear in the hearts of people wishing to sell (or buy) a property, and the question they will be asking themselves will be – ARE ALL estate agents dishonest, and HOW do we find a reputable one? With the Government choosing not to license Estate Agents, it is obvious there will be some disreputable Agents whose only aim is to line their pockets by unscrupulous methods. However, the majority of Agents are not in that category, and approximately one third of all UK Agents belong THE NATIONAL ASSOCIATION OF ESTATE AGENTS (NAEA) and/or THE ASSOCIATION OF RESIDENTIAL LETTINGS AGENTS (ARLA) These bodies operate a strict code of professional conduct and insist that agencies have professional indemnity insurance and clients monies are fully protected. Clients’ accounts must be audited by a qualified accountant, and a report issued annually to the Association. Training courses are available to all members and their staff and there are excellent educational facilities to obtain proper professional qualifications in both residential sales and lettings. ARLA Members’ offices are required to have staff with at least the ARLA Level 1 qualification, which is an examination covering the Housing Act, Tenancy agreements, and general knowledge of the lettings industry. Both associations ‘police’ their members, to ensure that only professional honest companies remain in their membership. So, to take some of the stress away from your house sale, purchase or letting, make sure you ask your Agent whether they are members of the NAEA or ARLA. You can find out more about both these associations on their Web sites, or contact Drewery’s Sidcup Office at 128 Station Road, Sidcup (0208 300 6761) who will be pleased to provide further information. Wed, 22 Mar 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1005New ‘ Out Of Hours’ Lettings Servicehttp://www.drewery.co.uk/newsdetails.aspx?ID=1006To satisfy the high demand for Drewery’s Lettings services, the company is now offering an ‘out of hours’ viewing service to enable prospective tenants to book a viewing of any of their rental properties even when the office is closed. A dedicated telephone ‘hotline’ has been provided, so that tenants may arrange to view a property at a time which is convenient to them. Full details and photographs of all available properties can be viewed on Drewery’s Web site, www.drewery.co.uk , and a viewing then booked by telephoning the lettings hotline. Liz Leitch, Drewery’s Lettings Manager, said that because the company has such a good reputation for offering a high standard of service to its Landlords and offers a wide range of good quality properties to Tenants, there is consistent high demand for its services. The new hotline will provide a valuable new tool to enable properties to be tenanted at the earliest opportunity. Liz, and her Lettings team can be contacted on 0208 300 6761. Tenants After Hours Viewing Number: 07702595961. ** Call The HOTLINE number to book a viewing on any of our rental properties when our office is closed. (Please make a note of the property reference number). Mon, 24 Apr 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1006New Legislation To Safeguard Tenants’ Depositshttp://www.drewery.co.uk/newsdetails.aspx?ID=1007New legislation, designed to safeguard tenants deposit money and provide adjudication for deposit disputes, will come into force on 1 October this year. Under the Housing Act 2004, in less than six months time, the use of a tenancy deposit scheme will be mandatory for all landlords. If a rented property falls within the provisions of the Housing Act - effectively, if the rental value is less than £25,000 a year - landlords and their agents will have to be members of a recognised Tenancy Deposit Scheme. Private Landlords will no longer be able to hold their own deposits, and they will either have to lodge them in a custodial scheme, or use a Lettings Agent who is a member of an approved Tenancy Deposit Scheme. The system for Alternative Dispute Resolution will help do away with protracted argument and court procedures and remove unsolvable problems from the agent`s desk and put them where they belong, with an experienced, independent adjudicator. The Tenancy Deposit Scheme came on-stream two years ago, with the backing of the professional bodies active in the private rented sector: ARLA, the Association of Residential Letting Agents, the NAEA, the National Association of Estate Agents and the RICS, the Royal Institution of Chartered Surveyors. It already has well in excess of 1,000 active letting offices in the scheme. It is obvious therefore, that from the 1 October, a wise Landlord will wish to use the services of a member of those professional bodies, who is also a member of an approved Tenancy Deposit Scheme to ensure they comply with the law. Another important requirement will be the preparation of a highly detailed Inventory and schedule of condition of the property and its contents. This will be essential evidence if a deposit dispute is referred to the Tenancy Deposit Scheme adjudicator, and again, a Landlord should seek to use the services of an agent who is able to provide such a detailed inventory, and keep it updated each time the tenancy changes. Tue, 11 Jul 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1007New Health & Safety Regulations For Residential Rental Propertieshttp://www.drewery.co.uk/newsdetails.aspx?ID=1008New legislation which is designed to protect the safety of tenants living in residential rental property came into force on the 6th April this year. The Housing Health and Safety Rating system (HHSRS) is a new risk assessment tool used to asses potential risks to the health and safety of occupants in residential properties and replaced the Housing Fitness Standard set out in the Housing Act 1985. What kinds of Properties Will Be Covered? As before, the HHSRS applies to all buildings (not just those that are let or those which are HM’s). For houses that are not houses in multiple occupation (HMOs), the reason for a property inspection will be if the local council becomes aware that there could be a problem with health and safety. However, all HMOs which need a license will also have to be inspected for hazards within 5 years of an HMO license being granted. So how does it affect a Landlord? - Any property brought to the attention of the Local Authority (for example by a complaint from a tenant or neighbour) can be assessed. Authorities do not have to inspect every property in their area, but will send a environmental inspector to inspect if they have reason to do so. The purpose of the assessment is not to set a standard but to generate objective information in order to determine and inform enforcement decisions. How will it Work? The local authority environmental inspector will now look at the condition of a building and give a score on any one of a long list of potential health and safety hazards. The score will rate (1) how likely a risk (e.g. fire) is to occur within the next 12 months and (2) how likely it is to have a severe impact should it actually happen. Hazards under the new legislation include areas such as fire, damp, overcrowding, poor lighting, pests etc. The score will then be put into bands and categories with the worst being a Category One risk. For houses in multiple occupation inspectors will have to consider if there is an increased risk because the facilities are shared. When assessing a hazard the inspector will have to examine if the property is fit for the widest range of occupants possible. What this means is, even if you let to students, the inspector will have to consider risks on the basis that the occupiers could be elderly people or children instead. What Powers will Inspectors Have? Inspectors will have a wider range of powers than they had under the old system. Once a risk has been identified, the action they can take depends upon how serious the risk is. If it is a Category 1 risk certain enforcement actions must be taken whereas if it’s a Category 2 risk there is more discretion. Firstly, a hazard warning notice could be served. Hazard warning notices have no time scale and there are no penalties, but most good landlords would carry out improvements to stop the problem developing into something more serious . Secondly, an improvement notice could be issued. This would require that certain improvements are carried out. If the work to start the improvement does not start within 28 days or is not completed in a set time fines can then be made. Thirdly, Prohibition orders can stop or limit all or part of the property being used. Again, there are fines for non-compliance. Fourthly, if the problem is so serious that it could cause immediate harm the inspector can issue an Emergency Remedial Action or an Emergency Prohibition Order. Under the Emergency Remedial Action, the local authority can enter the house and do the work, charging the cost back to the owner. In really bad cases, the local authority can make a demolition order or a compulsory purchase order. What should a Landlord do? Landlords are advised to assess their property and determine whether there are hazards that may cause a health or safety risk to tenants. They should then carry out changes to their property to reduce this risk. If your Tenant makes a complaint about anything in need of repair or improvement, which could be a health and safety issue, it is important that works are carried out as quickly as possible. What are the penalties if the owner/landlord or managing agent fails to make improvements? They could face fines of up to £5,000 for not complying with a statutory notice. What should my Agent be doing for me? Your Agent should be suitably knowledgeable and experienced to be able to draw to your attention any apparent health and safety hazards at the time they inspect your property, - either during a periodic visit during a tenancy or when you instruct them to offer the property for letting. For further information about this subject, please contact Drewery Property Consultants on 0208 300 6761 or info@drewery.co.uk Tue, 11 Jul 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1008Where And What To ‘buy To Let’http://www.drewery.co.uk/newsdetails.aspx?ID=1009Location is just as important as the property and price paid for it when considering purchasing a property to let. Many Landlords forget that they are making a purchase for investment and not a home to live in. When considering the location to buy an investment property a prospective Landlord should first speak to their local lettings agency who will be able to advise them on the main type of people looking to rent in the area and the type of property and location in demand. Our Sidcup office for example attracts a large number of tenants looking to benefits from the range of local services and facilities the local areas offer including schools, shops, rail links and easy access to motorways. A large proportion of tenants looking to rent are young professional couples choosing to rent first before purchasing, either because they have not got the large deposit required to buy, have just relocated or just started professional working careers. Larger properties tend to rent to families who have relocated due to a job relocation and want to get to know the local areas before committing to a purchase. It is a good idea to always look at each property before buying as if you were a tenant considering the property to rent, Most tenants for example will now give greater consideration to safety aspects of property when choosing a property to rent. A Landlord should avoid purchasing property in run down areas, places situated next to loud facilities such as pubs, night clubs etc just because the purchase price is less. Other key benefits which a tenant will also consider when choosing a property to rent include parking, type of heating and how modern both bathroom and kitchen facilities are. The type and age of a property tend to be unimportant as long as the property is in good condition and the layout is not unusual or too small. A tenant will normally consider the same factors when choosing a property to rent as would a person looking for a property to buy. It would therefore be advisable to look for property with fairly modern bathrooms and kitchens, decorated to a good standard and modern heating facilities. Most tenants who contact our company are looking for good quality one or two bedroomed flats in well maintained blocks. Larger flats from our experience often produce a lower rate of return and are often more difficult to let. A prospective landlord should also give consideration to the exterior appearance of the block and quality and upkeep of communal areas. Research should also be made into the cost of maintenance charged by the freeholder or managing agent and details of any soon large maintenance projects to the block. Small modern properties on modern developments are also an ideal investment but might have to mature before greater returns are achieved. Other properties such as larger homes will let but often do not provide the level, of return most investors are looking for. Wed, 09 Aug 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1009Landlord AND Tenant Responsibilitieshttp://www.drewery.co.uk/newsdetails.aspx?ID=1010There are a number of responsibilities that both a Landlord and Tenant have to consider when a residential property is let under an Assured Shorthold tenancy. LANDLORDS must ensure the safety and maintenance of rented property and their contents so that no injury or damage is caused to the occupants, neighbours or the public. The main areas of responsibility for a Landlord are: REPAIRS – A landlord is obliged to keep the property in a good state of repair. A landlord has the final responsibility for ensuring that the following areas are safe and fit for use, as well as effecting repairs when necessary to restore them to a fair condition: o The structure and exterior of the property; o Any hot water installations, as well as the supply of water itself o Basins, sinks, baths and other sanitary or drainage installations. o Ensuring an adequate provision of lighting, heating and ventilation. o Treating any health-threatening damp that occurs o In flats and maisonettes a Landlord must also repair any other areas or installations, which is owned by the landlord and where disrepair would affect the tenant. GAS SAFETY REGULATIONS compliance and FIRE AND FURNISHING REGULATIONS compliance TENANTS also have a number of responsibilities to consider when renting a property on a Shorthold tenancy agreement. The main responsibilities (subject to the terms of the particular tenancy agreement) are: RENT - to pay the rent according to the amount and frequency set out in the tenancy agreement COUNCIL TAX - the Tenant is normally responsible for payment of Council Tax. WATER & SEWAGE RATES – Tenants are usually responsible for water rates if the property is self-contained. UTILITY BILLS – it is usually the tenant’s responsibility to arrange for the services of the major utilities such as gas, electricity, telephone and television. It is important when moving into a property that a tenant informs the relevant authorities that they are now responsible for the paying of the bills and again when they leave the property. MINOR REPAIRS – though it is generally considered that most repairs are the responsibility of the Landlord, small minor repairs such as changing a light bulb or a tap washer for example are considered the responsibility of the tenant. Other responsibilities that tenants will have to be aware of include taking proper care of the property they are living in, keeping it in a good condition and using it in a reasonable way. A tenant has to also consider that the majority of their responsibilities will be highlighted in the tenancy agreement they will have to sign unless these terms are a contravention of the tenant’s rights in law. Fulfilling these responsibilities during a tenancy can often be very time consuming, which is why a landlord should give careful consideration about appointing a property management company to deal with these important matters. Wed, 09 Aug 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1010Office Refurbishmenthttp://www.drewery.co.uk/newsdetails.aspx?ID=1011Drewery Property Consultants in Sidcup are pleased to announce the completion of their office refurbishment. The company was founded just after the second world war 60 years ago by Edward Drewery and the office in Station Road Sidcup was one of the first ‘modern style’ estate Agencies. Times have moved on since the 1940’s and the company is now proud of its ‘state of the art’ technology systems which enable it to offer clients the highest level of service. However, the personal service motto is still of utmost importance to the company and its staff. Members of their Lettings and property Management teams are holders of the ARLA (Association of Residential lettings Agents), competency certificate whilst Property Sales staff adhere strictly to the NAEA (National Association of Estate Agents) code of conduct. The company has 18 members of staff at their Sidcup office, and they now Let and Manage hundreds of rental properties in the Bexley borough and surrounding areas. Their reputation as Estate Agents is evidenced by the number of ‘sold’ boards to be found in the area and they are proud of their reputation and the number of recommendations they receive. The new branding is a result of their desire to show the public that the company (although 60 years old) is a modern forward thinking one, who are keen to embrace modern technology, but not a the expense of losing the personal service their staff can provide. For details of their sales or lettings services, contact Drewery on 020 8300 6761. Mon, 23 Oct 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1011Buy To Let Advicehttp://www.drewery.co.uk/newsdetails.aspx?ID=1012In the past lenders would put high rates of interest on mortgages for second properties bought by private individuals to let out. However, under the Buy to Let scheme lower rates are now available to purchase property to rent out and also under the scheme the rental income will also be considered when assessing a borrowers ability to meet mortgage payments. Buy-to-let mortgages are subject to usual status checks and loans can be arranged for terms of between five and 45 years and usually for 85% of the value of the property. It is always best to speak to a qualified independent financial advisor first as they will be able to provide competitive quotes for buy to let mortgages from all leading lenders. What returns are there from letting a property? Generally the Gross returns available on buy to let properties (the rent received before taking account of cost of letting - such as management fees, maintenance, service charges, ground rents and insurances) varies between 7% and 10%. This figure does however vary depending on other aspects such as original purchase price, deposit and market conditions. The Gross return will also generally drop by up to half for properties at the very top of the scale of values, although the right high priced properties will often show a better capital appreciation. As a rule of thumb it is advised that the gross rents should be between 130% and 150% of the monthly mortgage payment. Other factors that should be taken into account when calculating potential return is the possibility and length of void periods (time scale property is empty between lets), as any length of void periods will make a significant difference in the overall return. Despite some negative publicity surrounding buy to let investments, we have seen increases in average rents in most if not all the local areas covered and the average rental return in Britain today hovers around the 10% mark with experts predicting capital appreciation will match, if not exceed, inflation for the foreseeable future. For further information on rents achieved, returns, voids, viewings per letting, types of investment and supply and demand please view or download the ARLA Review and Index found at www.arla.co.uk. What other costs will have to be considered A number of other costs will have to be considered including letting and management fees, insurances including building, contents, rental and legal expenses cover. Other costs to consider include keeping the property maintained and in a marketable condition, service charges and ground rents if the property is Leasehold. All other costs such as utility bills, council tax and TV licence fee are the responsibility of the tenant. Tax implications It is best that you speak to a qualified accountant to be advised of any tax implications you may have to consider. However, deductions against tax on rents received may be claimed for the costs of maintenance including insurance, cleaning, gardening, agent’s fees and other management expenses. The original cost of furnishing any buy to let property is not allowed to be used against deduction against tax but the actual cost of subsequent replacement of furnishings may be claimed as well as a wear and tear allowance of 10% of the rent received may be deducted. Income Tax The rent after deducting allowable expenses will be subject to income tax at the Landlord’s highest rate. It is advised that you speak to an accountant about possible ways to minimise tax exposures however as a rule of thumb the following are allowable expenses: Maintenance and ground rent charges if the property is Leasehold Mortgage interest Lettings agent’s fees Landlord insurances including buildings, contents and legal and rental guarantee Council tax whilst the property is vacant Any accountant fees Stamp duty paid on tenancy agreement Any legal expenses incurred but not any related to purchase of property Repair and Maintenance of the property and contents but not for improvement Water and sewer rates if charged to landlord The inland revenue will also allow a deduction if the property is furnished. Allowable expenses may only be claimed whilst the property is let or available to be let. Capital Gains Tax Home owners do not incur Capital Gains Tax when selling their own property as there is relief from the capital gains tax in respect of the principal private residence. Any one buying an additional property that is also used to live in can choose which one they wish to be principal residence, but it is important you make the choice within 2 years of the second purchase otherwise the inland revenue will make the decision for you. However, if one of the properties is let, it cannot be chosen as the principal private residence. As a result, whenever a property that is not the main home is sold, any rise in value, subject to indexation, is liable to capital gains tax at the tax payer’s highest rate of tax. Capital gains tax allowances will frequently change and if shared ownership is involved allowances could also differ. It is therefore advised that you seek the advice of a qualified accountant as well. Thu, 16 Nov 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1012Helpful Property Related Websiteshttp://www.drewery.co.uk/newsdetails.aspx?ID=1013House prices are often discussed and may people want to know whether their home has gone up in price since they purchased it. To gain a brief overview on property prices as well as an idea on how the property market if performing our company has compiled a list of useful websites for you to look at: Land Registry: http://www.landreg.gov.uk Nationwide: http://www.nationwide.co.uk/hpi/default.asp Halifax: http://www.hbosplc.com/economy/nationalpressrelease.asp You can also find out which price band a property may be in: Council Tax http://www.voa.gov.uk However, if you live locally, do not hesitate to contact us and we will come to your home and provide you with an up to date valuation of your property. Drewery Property Consultants - 020 8300 6761Thu, 30 Nov 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1013What Is Arlahttp://www.drewery.co.uk/newsdetails.aspx?ID=1014The Association of Residential Letting Agents, ARLA, is the only professional body that is solely concerned with the self-regulation of letting agents and for nearly 25 years has been actively promoting the highest standards across every aspect of residential lettings and management in the Private Rented Sector. ARLA is viewed by government, consumer groups, academia, think tanks and the media as the leading voice in the industry. ARLA member firms are seen as being at the forefront of the Private Rented Sector, ready, willing and able to comply with existing and anticipated government legislation. ARLA member firms successfully create, on average, over a quarter of a million new tenancies a year as well as arranging the renewal or extension of thousands more of existing tenancies every month. Why Should A Landlord Or Tenant Seek Out An ARLA Member Firm? Probity and Protection - ARLA leads the industry in setting and regulating the highest standards in the industry and demands certain levels of professionalism and commitment to customer service from its membership. ARLA member firms are required to work within a robust Code of Practice, which covers the key stages in letting and managing a property. There are comprehensive membership Byelaws which include compliance with such issues as handling and accounting for Clients’ money; the mandatory ARLA Client Money Protection Bonding Scheme; Professional Indemnity Insurance; Dealing with Complaints and Disciplinary Procedures. ARLA member firms are required to employ a minimum of at least one member of staff, in any office, who holds a suitable industry qualification, recognised by the Association. ARLA keeps it members up to date with changes in legislation and provides wide-ranging training and guidance to help members understand and interpret all aspects of letting and managing a property. The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information. Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1014Some Golden Rules For Landlords And Tenants.http://www.drewery.co.uk/newsdetails.aspx?ID=1015Read such important documents as tenancy agreements and terms of business carefully; never sign anything you don’t understand – ask questions – seek advice. Don’t have unreasonable or unrealistic expectations. If in doubt about what to do, or your obligations or responsibilities in any particular circumstances that arise – communicate, seek clarification. Confirm important issues in writing – keep a copy. Are There Any Rules About What Comes With A Property If Its Fully Furnished, Furnished, Part Furnished Or Unfurnished? No, there are no strict rules but both expectations and reality can vary in different areas of the country and even within different niche sectors within the local markets. Generally, a property offered as “fully furnished” would come with all the main fixtures, furnishings and fittings, white goods etc., plus the standard crockery, cutlery, glassware, pots and pans etc., that a reasonable tenant would normally use on a day to day basis. At the other end of the scale, an “unfurnished” property would normally be provided only with such basics as carpets, curtains and light fittings. Clearly, there are infinite variations between these two extremes of what might be included. Therefore, the critical aspect, whether you are a landlord or tenant, is to make sure that everyone clearly understands what main items are, or are not, included before finalising the tenancy agreement. The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information.Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1015What About Safety Regulations For Rented Property?http://www.drewery.co.uk/newsdetails.aspx?ID=1016There are specific legal obligations and responsibilities on a landlord with regard to Fire safety for Furniture & Furnishings; Gas supply and appliances; plus Electrical wiring and appliances; these are more fully explained in the ARLA leaflet “Lets make it Safe”. What About Insurance? Landlords and tenants should take care to review any existing policies when renting or letting a property for the first time as some standard insurance products will either not provide cover, or might place restrictions on cover, for rented property and/or its contents. A failure to inform your insurer that you are renting/letting a property could invalidate any subsequent claim. It is for a landlord to insure the building and his/her contents, fixtures and fittings. The tenants are responsible for insuring any of their own possessions. There are various specialist insurance products designed for landlords and tenants and rented property: - Buildings, Contents, Legal Expenses, Emergency Repair cover, Rental Guarantee cover etc. [After the 14th January 2005 it will be illegal for a letting agent (or anyone else) to advise on or sell such general insurance products unless they are authorised by the Financial Services Authority (FSA), or, directly regulated by a broker registered with the FSA.] The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information.Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1016What About An Inventory/schedule Of Condition?http://www.drewery.co.uk/newsdetails.aspx?ID=1017This is an absolutely essential document that provides a written benchmark, which should be amended, updated and recreated before the beginning of each new tenancy. A properly constructed Inventory/Schedule of Condition details the fixtures and fittings and describes their condition and that of the property generally. Landlord and tenant often share the costs involved in preparing and checking the inventory; such costs should be seen as a necessary investment that helps protect the interests of both landlord and tenant. What Is A Tenancy Agreement? A tenancy agreement is a legally binding contract between a landlord and tenant that sets out both the legal and contractual responsibilities and obligations of the two parties. It should be written in plain and intelligible language (no unnecessary jargon!) and its terms and clauses should be fair and balanced, taking account of the respective positions of the parties and should not mislead about legal rights and responsibilities. Landlord and tenant should take care to individually negotiate any particular terms or conditions that are important to them or especially relevant to the particular let or property. The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information. Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1017What Kind Of Tenancy Agreement Will Be Used?http://www.drewery.co.uk/newsdetails.aspx?ID=1018The most common form of tenancy agreement used is an “Assured Shorthold” (an AST) under the 1988 Housing Act (amended 1996). This type of tenancy offers the most flexibility to both landlord and tenant; has straightforward notice procedures for bringing the tenancy to an end and a special Accelerated Possession court procedure should tenants fail to vacate. If certain specific conditions are met relating to the proposed letting, a “contractual” non-housing act tenancy must be created. One example of this would be what is commonly referred to as a Company Let where the tenant is a bona fide registered company, another would be where the annual rent equates to over £25,000. Very rarely, a prospective tenant may be offered a full “Assured” tenancy that gives very significant and potentially long-term security of tenure to a tenant and, for which a landlord can only get possession in very limited circumstances. Most ARLA member firms will have their own “in-house” agreements which are usually much more comprehensive than ones bought in a local stationers or Post Office etc. Following lengthy consultation with the Office of Fair Trading, ARLA created and now sells a model Assured Shorthold Agreement to both member firms and non-members. Joint And Several – What Does That Mean? Mostly, where there is to be more than one (adult) person living in the property, the tenancy will say they are “jointly and severally” responsible. This expression means that, jointly, the tenants are liable for the payment of all rents and all liabilities falling upon the tenants during the tenancy, as well as any breach of the Agreement. Individually each tenant is responsible for payment of all rent and all liabilities falling upon the tenant, as well as any breach of the Agreement until all payments have been made in full. The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information.Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1018What About The Tenancy Deposit?http://www.drewery.co.uk/newsdetails.aspx?ID=1019It is quite common for a deposit of an amount equivalent to between four to six weeks rent to be required to be held during the tenancy against the satisfactory performance by the tenant of all the various obligations under the tenancy agreement – but mainly, those relating to the cleanliness and condition of the property. The relevant clauses in the tenancy agreement should set out who is to hold the deposit (e.g. agent or landlord), whether interest is to be paid or not, what the deposit can be allocated for and the end of tenancy procedures and timescales for its refund. The best way for a tenancy deposit (bond) to be held during the tenancy is by the ARLA member agent as “stakeholder” between the parties (landlord and tenant). This means that at the end of the tenancy the agent should get the agreement of both sides before making any deductions for damage, cleaning etc. Ideally, the ARLA agent will be signed up to the Tenancy Deposit Scheme for Regulated Agents (TDSRA) which means that in the event of an unresolved dispute or stalemate over the allocation of the deposit, it can be referred to the scheme for a prompt, independent, third party adjudication – so providing a resolution which is fair to both landlord and tenant. What Is A “Break-Clause”? This is a clause sometimes inserted in a fixed term tenancy, typically if the initial fixed term is for a year or more. A break clause will usually be worded in such a way as to allow either landlord or tenant to give two months written notice at any stage after a particular date or period of the tenancy, thus terminating the tenancy earlier than the end of the original fixed term. The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information.Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1019What Happens If Either Party (Landlord Or Tenant) Unexpectedly Want To End An Existing Tenancy Early?http://www.drewery.co.uk/newsdetails.aspx?ID=1020There are only limited ways in which this can happen; the landlord cannot make the tenants move out, nor can the tenants lawfully walk away from their obligations to fulfil the contract. Either party might request of the other that a formal “surrender” of the tenancy be allowed. It would then be up to the parties to agree the terms and conditions of such a surrender. This might include some financial compensation for inconvenience or costs incurred. How Often Can The Rent Be Put Up? In general terms, rent of an existing tenancy can only be increased once every twelve months. Where an assured shorthold tenancy holds over as a statutory periodic tenancy, a specific prescribed form (a section 13 notice) must be used to notify tenants of a proposed increase in the rent. It is usual, if creating a longer fixed term tenancy at the outset (or one with a binding option to renew), to include a clause that allows for an increase of the rent on an annual basis, typically linked to, or as a multiple of, something like the Retail Price Index (RPIX) or similar. What About Rights Of Access To The Property, What Are The Rules? A landlord, or his agent, or someone authorised to act on his behalf has a right to view the property to assess its condition and to carry out necessary repairs or maintenance at reasonable times of the day. The law says that a landlord or agent must give a tenant at least 24 hours prior notice in writing (except in an emergency) of such a visit. Naturally, if the tenant agrees, on specific or odd occasions to allow access without the 24 hours prior written notice, that is acceptable. [A clause in the tenancy agreement which tries to diminish or over-ride a tenant’s rights in this respect would be void and unenforceable.] The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information.Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1020Repairs & Maintenance Issueshttp://www.drewery.co.uk/newsdetails.aspx?ID=1021A landlord, in very general terms, has a legal responsibility to repair the structure and exterior of the property, including drains, gutters and external pipes; to keep in working order the installations for the supply of gas, electricity and water; and, for the installations for the provision of space and water heating. The landlord also has other legal responsibilities relating to the safety of such items as gas, electricity and furnishings as well as the general standard or fitness of the property for habitation. A tenant has an implied covenant to act in a “tenant-like manner”. Broadly, this means to report disrepair promptly; to take reasonable steps to ensure that neither the tenant nor guests damage the property, its fixtures and fittings; to do the minor day to day things any home-occupier would normally do e.g. replace light bulbs, fit a new battery in a smoke or CO2 detector, tighten an odd screw which has come loose on a door handle etc.; to keep the property reasonably warm and aired to help prevent condensation or freezing of pipes; to leave the property secure when absent from it; to keep the garden and other areas reasonably tidy and free from rubbish. Are Tenants Entitled To Know The Name And Address Of Their Landlord? Yes, there are two or three bits of law covering this and it is a criminal offence for an agent (or whoever is collecting the rent) to fail to provide, without reasonable excuse, this information within 21 days of formal written request by the tenants. What About Renewals And Extensions Of A Tenancy? This is a very common situation and the ARLA Agent will normally negotiate between the parties and prepare the necessary formal documentation for a replacement tenancy or fixed term extension. If no further fixed term is created to follow on from the end-date of original term, and assuming notice to end the tenancy has not been served, the tenancy can simply hold over as a “periodic tenancy” e.g. rolling on with basically the same terms and conditions and in line with how the rent is due to be paid. This is usually monthly. The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information.Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1021How Is A Tenancy Terminated?http://www.drewery.co.uk/newsdetails.aspx?ID=1022The law around ending a tenancy is relatively straightforward as long as the right timescales and procedures are followed, along with the use of the correct format of notice. The timescales, procedures and format will vary dependent upon the type, and the status of the tenancy at the time you wish to end the tenancy. Your ARLA agent will be able to provide guidance. What Happens If The Tenant Doesn’t Move Out After The End Of A Tenancy? First, try to quickly establish the reasons why. However, if a tenant does not move out after a tenancy has been lawfully terminated then the landlord can apply to the Courts for a possession order. Under the Accelerated Possession Procedure (which can be used where the tenancy was an Assured Shorthold) the process is usually fairly quick and inexpensive. Agents’ Fees And Charges These will vary dependent upon local market conditions and the particular services being provided by the Agent. However, whether dealing with a landlord or a tenant, an Agent should provide clear information on what costs would be incurred, including any potential future financial liabilities to the agent that are reasonably foreseeable and quantifiable. The Above information has been provided by ARLA (Association of Residential Letting Agents) please visit www.arla.co.uk for further information.Sat, 02 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1022Estate Agency Perceptionhttp://www.drewery.co.uk/newsdetails.aspx?ID=1023Estate agent perception tainted by the actions of a minority Consumers advised to use an NAEA member for peace of mind The National Association of Estate Agents (NAEA) is advising consumers to look for the NAEA logo to ensure peace of mind when choosing an estate agent. Commenting on a survey issued by consumer group Which? today stating that estate agents are the second least trusted profession NAEA President Charles Smailes says: “A large majority of estate agents are professional, trustworthy and proud of the work they do. It is unfortunate that the actions of a minority of rogue agents effect perceptions of the industry as a whole. “As representatives of the estate agency industry, the NAEA is working hard to raise standards. Our members are already regulated by our rules of practice and codes of conduct. We have, however, been calling on the Government to introduce industry- wide regulation in the form of compulsory membership of a professional body for all estate agents. “In the meantime, we have around 10,000 members who are bound by our rules of practice and codes of conduct. We take very strict action against any member who is found to be breaching these rules and codes. We also offer consumers independent redress through the Ombudsman for Estate Agents scheme. By choosing an NAEA agent, consumers can be reassured they are dealing with a trustworthy professional.” Visit www.naea.co.uk for further information on this topic We hope you have found this moths information sheet useful and please do not hesitate to contact us if we can help you in any way. Drewery Property Services Fri, 22 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1023Inheritance Taxhttp://www.drewery.co.uk/newsdetails.aspx?ID=1024PLAN CAREFULLY TO AVOID INHERITANCE TAX The National Association of Estate Agents (NAEA) is advising homeowners to plan carefully in order to protect the future of their properties, particularly when relating to inheritance tax. Attendees at the Association’s recent Residential Forum were given an insight into how families could minimise the amount taken by the Government’s ‘death tax’ as a property passes through the generations. Speaking at the NAEA Forum, John Varley, Chief Executive of estate planning experts, Money Marketplace, advised attendees on the steps they could take: “Planning to avoid inheritance tax is a relatively straightforward process, which involves the use of some simple legal documentation. Everyone is allowed to pass on up to £285,000 (06/07) before being subject to the 40% tax. In a typical family, when one parent dies all their assets are passed to the remaining spouse; their tax free allowance, however, is not. This means that when the second parent dies they are effectively passing on two people’s assets but only using one person’s inheritance tax allowance. By putting the correct legal documents in place the family can ensure that both parents’ allowances are utilised when the second parent passes away. The outcome being that a typical family can save up to £114,000 in potential inheritance tax and in such a way that their own position during their lifetime is not at all compromised. “Inheritance tax is no longer a ‘rich man’s tax’; it now affects around six million homeowners across the UK. If people only plan to make the most of both of their “Tax Free” allowances then the overall amount of inheritance tax paid can be significantly reduced and for the vast majority of those affected it can be removed altogether Charles Smailes, President of the NAEA, comments: “More and more people are falling victim to inheritance tax as rising property prices far outstrip the tax threshold rises. There has been an astonishing 72% increase in estates paying inheritance tax in the last five years and the Government itself predicts this to increase by a further 22% by the end of the current tax year. “It is important for people to feel secure in the knowledge that everything they have worked hard for over the years will be safely passed on to their children. Careful planning is the only way to do this.” Visit www.naea.co.uk for further information on this topic. We hope you have found this months information sheet useful and please do not hesitate to contact us if we can help you in any way. Drewery Property Services Fri, 22 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1024Planning Systemhttp://www.drewery.co.uk/newsdetails.aspx?ID=1025Overhaul of archaic planning systems is long overdue The Kate Barker review of Land Use Planning published today has recommended improvements in responsiveness, efficiency and transparency of the planning system in order for it to fulfil its potential. The National Association of Estate Agents welcomes the findings of the review and the subsequent announcement that provisional payments worth £28.8m have been awarded as part of the planning delivery grant next year. Stewart Lilly, President Elect of the National Association of Estate Agents (NAEA) comments: “I welcome the overhaul of the current planning processes suggested by Kate Barker in her review of Land Use Planning published today. The complexity of the routine matters of planning has resulted in many local authority planning departments coming under undue pressure. Anything that can simplify the procedure and increase transparency within the system, whilst removing the many major obstacles currently obstructing economic development throughout the UK must be seen as a positive step. Bearing in mind we are currently working under a system governed by legislation dating back to 1948, it is not surprising that some of our processes need revising. “By streamlining planning policies Barker has stated the process can be speeded up from the current typical 36-42 to 18-24 months. This would undoubtedly save developers, businesses and local authorities considerable amounts of money and alleviate some of the pressures they face. “I am especially pleased to see the emphasis that the Barker review has placed upon the need for a more positive planning approach, approving plans at the indeterminate stage unless ‘there is good reason to believe the economic, social or environmental costs of development outweigh the benefits’. The ever expanding population and the changing demographics of the UK are placing increasing pressure on our existing infrastructure. A compromise between protecting land that has environmental value and accommodating our needs as a growing economy must be found. “As the review highlights, only 8.3% of the land in the UK can be classified as urban. In comparison a staggering 13.5% is classed as green belt, I would be pleased to see a more strategic approach and support a review of green belt boundaries currently surrounding cities and towns. “I would like to take the opportunity to encourage and remind the Government that the NAEA would be delighted in assisting them in the construction and implementation of any new processes.” Visit www.naea.co.uk for further information on this topic We hope you have found this months information sheet useful and please do not hesitate to contact us if we can help you in any way. Drewery Property Services Fri, 22 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1025Regional Variationshttp://www.drewery.co.uk/newsdetails.aspx?ID=1026Regional variations to characterise housing market in 2007 NAEA predicts a steadier year for house prices Summary: 5% rise in average house prices Marked regional differences for property supply and demand Slow areas will weather difficulties if interest rates remain at 5% Continued rise in consumer confidence Higher lending multiples a possible issue if rates increase HIPs still an unknown factor The National Association of Estate Agents (NAEA) is predicting a steadier year for house prices across the UK in 2007, with regional variation being a key characteristic of the market as property supply continues to be an issue in many places. Interest rates will have a vital role to play in ensuring that struggling areas are able to weather the difficulties. Meanwhile, the proposed HIPs legislation presents huge uncertainty for the market. Average house prices Following a difficult year in 2005, the majority of 2006 has seen a healthy market with average house prices having risen around 9 per cent since January. This positive trend is expected to continue in 2007, but at a slower pace with the NAEA forecasting rises of around 5% over the year. Regional differences in supply and demand While the market has always been subject to regional variations, these are likely to become more pronounced in 2007 as the issue of property supply comes to the fore. The latter part of 2006 has seen the gap between areas struggling to find property and those where supply is not such an issue widen markedly. Shortages in the South East have led to high prices and a high pace of activity, which is distorting figures on a national level. While the overall picture may look positive, a number of areas across the UK have been experiencing a much flatter market. These regions have not been helped by two interest rate rises over the last four months. We hope you have found this months information sheet useful and please do not hesitate to contact us if we can help you in any way. Drewery Property Services Fri, 22 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1026Regional Variations Cont..http://www.drewery.co.uk/newsdetails.aspx?ID=1027Regional variations to characterise housing market in 2007 Contd... Interest rates Following the increase of interest rates to 5% in November, leading economists are now divided over the movement of rates in the early part of next year. While the recent rises may help to calm house price inflation in London and the South East, there are a number of already underperforming areas across the rest of the UK that are likely to suffer further if there is another rate rise. With this in mind, the NAEA is warning the Bank of England not to be governed by the London market when making decisions on interest rates next year. Consumer confidence Consumers have demonstrated a renewed confidence in 2006 and the NAEA expects this to continue into 2007. With many set to take advantage of the higher lending multiples now being offered by banks, some could run into problems if there is a significant rise in interest rates. The NAEA is advising home buyers to plan carefully and be realistic about what they can afford in 2007. First time buyers Although NAEA estate agents have reported an increase in the number of first time buyer sales recently, first timers are likely to continue experiencing difficulties next year if issues such as affordability and stamp duty remain unchecked. The NAEA urges the Chancellor to seriously consider these when looking at his budget for the next financial year. HIPs The proposed HIPs legislation – due to come into effect in June 2007 – looms as an unknown factor when making predictions for the coming year. With June usually a busy time for estate agency, it is uncertain what effect the Packs will have. The usual trends of supply and demand are likely to be severely disrupted with buyer reactions hard to predict. We hope you have found this months information sheet useful and please do not hesitate to contact us if we can help you in any way. Drewery Property Services Fri, 22 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1027Shared Equality Schemehttp://www.drewery.co.uk/newsdetails.aspx?ID=1028NAEA welcomes shared equity scheme extension The National Association of Estate Agents (NAEA) welcomes Gordon Brown’s announcement that the HomeBuy shared equity scheme will be extended in order to assist a further 160,000 low income families onto the property ladder. The Association also welcomes the initiative to encourage ‘carbon-zero’ homes by excluding them from stamp duty requirements, but is disappointed that the Chancellor did not consider it appropriate to raise the threshold across the wider housing market. Charles Smailes, President of the NAEA comments: “On the whole, the housing initiatives in the pre-budget report are encouraging; however it is unfortunately yet another missed opportunity by Gordon Brown to increase the stamp duty thresholds across the housing market, in order to bring it inline with house price inflation. “I was particularly disheartened at Gordon Brown’s failure to increase the inheritance tax threshold. It is shocking to consider the figures release by the Halifax earlier this week, stating that by 2020, over 20% of properties in the UK will be valued above the £285,000 inheritance tax limit. Given this is a tax on previously taxed capital, I would once again ask the Chancellor to consider the injustice of this stealth tax.” Comment on issues raised in the pre-budget report: Shared equity ownership Smailes comments: “I am delighted to hear that the shared equity scheme is to be extended to encourage a further 160,000 families onto the housing ladder. I eagerly await the details of the public and private sector schemes mentioned.” Carbon-zero homes exempt from stamp duty Smailes comments: “This is clearly a positive initiative in improving energy efficiency in homes and I look forward to hearing the details of the code for sustainable homes and tougher building regulations mentioned in the full report. However, it is slightly divisive in that it only applies to the new home sector and I would like to hear how the Government intends to tackle this in the wider property market.” Extension of Landlords Energy Saving Allowance Smailes comments: “It is pleasing to see an extension of the Landlords Energy Saving Allowance (LESA) scheme that will consider allowance applications per property rather than per building, ensuring that landlords of smaller residences will now be eligible for assistance in improving their properties to promote energy efficiency.” We hope you have found this moths information sheet useful and please do not hesitate to contact us if we can help you in any way. Drewery Property Services Fri, 22 Dec 2006 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1028Tenancy Deposit Protectionhttp://www.drewery.co.uk/newsdetails.aspx?ID=1029From 6 April 2007, all deposits taken by landlords for Assured Shorthold Tenancies in England and Wales (this covers the vast majority of tenancies), must be protected by a tenancy deposit protection scheme. From this date, tenants should ask their landlord about the details of the scheme when signing a new tenancy agreement. Why is Tenancy Deposit Protection being introduced? Tenancy Deposit Protection will apply to all assured shorthold tenancies in England and Wales where a deposit is taken. Virtually all new contracts to let a property are assured shorthold tenancies. Tenancy Deposit Protection has been introduced: 1.To ensure good practice in deposit handling, so that when a tenant pays a deposit, and is entitled to get it back, they can be assured that this will happen. 2.To assist with the resolution of disputes by having an Alternative Dispute Resolution service (ADR). It will also encourage tenants and landlords to have in place, from the outset, clear agreement on the condition of the property through best practice, such as the use of inventories, and agreement on the condition of the property. Tenants After 6 April 2007, when you are signing a new tenancy agreement with your landlord, ask how your deposit will be protected. Your landlord can provide you with the contact details of the scheme protecting your deposit. Landlords You will be able to choose between two types of scheme: a single custodial scheme and two insurance-based schemes. However, if you use a reputable Lettings Agent, the Agent will no doubt be approved to hold your deposit for you under one of the insurance based schemes, and you will not have to worry about complying with the legal requirements, as they will deal with these on your behalf. Custodial scheme · The tenant pays the deposit to the landlord; · The landlord then pays the deposit into the scheme; · Within 14 days of receiving a deposit, the landlord must give the tenant the prescribed information (to be set out in secondary legislation) about the scheme being used and the tenancy; · At the end of the tenancy, if the landlord and tenant agree how the deposit should be divided, they will tell the scheme which returns the deposit, divided in the way agreed by both parties; · If there is a dispute, the scheme will hold the amount until the dispute resolution service or courts decide what is fair; · The interest accrued by deposits in the scheme will be used to pay for the running of the scheme and any surplus will used to offer interest to the tenant, or landlord if the tenant isn’t entitled to it. Insurance-based schemes · The tenant pays the deposit to the landlord; · The landlord retains the deposit and pays a premium to the insurer - the key difference to the custodial scheme; · Within 14 days of receiving a deposit, the landlord must give the tenant prescribed information (to be set out in secondary legislation) about the scheme being used and the tenancy; · At the end of the tenancy, if the landlord and tenant agree how the deposit should be divided, the landlord returns all or some of the deposit; · If there is a dispute, the landlord must hand over the disputed amount to the scheme for safekeeping until the dispute is resolved. · If for any reason the landlord fails to comply, the insurance arrangements will ensure the return of the deposit to the tenant if they are entitled to it. Example A tenant pays a deposit of £1000. At the end of the tenancy, the landlord says he wishes to keep £200 to pay for replacing damaged furniture. The remaining £800 will be returned to the tenant. The tenant disagrees, claiming the furniture was damaged when they moved in. Both agree to go to Alternative Dispute Resolution (ADR), so the disputed £200 will be transferred to the scheme administrator until the dispute is settled. In each scheme, the deposit must be returned within ten days of the landlord and tenant agreeing how the deposit should be divided, or within ten days following notification of an ADR/court decision. Landlords and letting agents What sort of tenancies will deposit protection apply to? All deposits taken by landlords in relation to assured shorthold tenancies (AST) - the most common form of new tenancy - in England and Wales. What is the average deposit for an assured shorthold tenancy in England? The most recent Survey of English Housing (05/06) found that the average deposit for an AST in England is £695. Aren`t these provisions unfair on good landlords? No. Most landlords deal fairly with tenancy deposits and are already acting responsibly by safeguarding deposits. However, these provisions need to be put into place to ensure the minority of bad landlords to act responsibly by safeguarding tenancy deposits. TDP puts into place a simple process for all landlords to ensure tenancy deposits are safeguarded. This is in the interests of both landlords and tenants. How will deposit protection work in practice? There are two types of scheme: a custodial scheme and two insurance-based schemes. The landlord – not the tenant – will have the option to choose whether to safeguard the deposit in the custodial or insurance-based scheme. A landlord will have 14 days to safeguard a deposit from the day he receives it. The landlord will have to provide the tenant prescribed information about the scheme safeguarding the deposit within these 14 days. To avoid disputes having to go to the courts, both schemes will be supported by an Alternative Dispute Resolution (ADR) service - although the use of this will not be compulsory. When must deposits be paid back? When the landlord and tenant agree how the deposit should be returned, in full or in part, it must be paid back within 10 days. In the custodial scheme: within ten days of the scheme being notified of agreement between the landlord and tenant or notified of an ADR/court decision. In the insurance-based scheme: within ten days of the tenant requesting that the landlord return his deposit In case of a dispute: within ten days of the scheme being notified of the ADR service`s, or court`s, decision. Can`t it be paid back before then - i.e. on the last day of the tenancy? Yes. Ten days is the maximum. In practice, Communities and Local Government would like to see deposits returned more quickly and will be working with scheme administrators to see how this can best be achieved. Many landlords currently pay the deposit back on the last day of the tenancy. In the insurance-based scheme, if the landlord and tenant agree on the amount to be returned, the deposit can be returned on the last day of the tenancy. What happens if a deposit has not been protected? a) Unable to use ‘notice only’ Currently, a landlord can obtain an order for possession of an AST at any point after the first six months of the tenancy providing any fixed term has expired and the landlord gives the tenant at least two months` written notice (Under Section 21 of the Housing Act 1988). This is known as ‘notice-only’. However, under TDP, the landlord is unable to regain possession of the property using the usual `notice only grounds`, if the deposit has not been safeguarded and the prescribed information passed onto the tenant within 14 days of the landlord receiving it. b) Fine Tenants can apply for a court order requiring the deposit to be safeguarded or the prescribed information to be given to him about the scheme in which the deposit is safeguarded. Where the court believes that the landlord has failed to comply with these requirements, or the deposit is not being held in an authorised scheme, the court must either order the landlord within 14 days of the making of the order to repay the deposit; or order the landlord to pay the deposit to the custodial scheme administrator. The court must also order the landlord to pay to the tenant a fine of three times the deposit amount within 14 days of the making of the order. Tenants Why should the Government protect tenants` deposits? So that, when a tenant pays a deposit, and he or she is entitled to get all or part of it back, the tenant can be assured that this will happen. How can tenants find out if their deposit is protected? Within 14 days of receiving a deposit, landlords will have to provide tenants will details of which scheme is protecting the deposit. The scheme will be able to confirm if the deposit is protected. A reputable Letting Agent will inform the Tenant at the onset of the tenancy how and where the deposit is being held. Most Agents will be registered with an Insured Scheme to hold deposits on behalf of the Landlord and Tenant. What if a tenant moves out of their home before realising that their deposit hasn`t been protected? The tenant will need to apply for a court order and the court will order the landlord to repay the deposit amount to the tenant. In order to avoid this situation, tenants should make sure that their landlord has given them the prescribed information relating to the scheme that is safeguarding their deposit, and check that the deposit is safeguarded, within 14 days of paying the deposit. How will this affect deposits paid for ASTs which start before 6 April 2007? The legislation will only apply to new deposits paid for ASTs entered into on or after 6 April 2007. Any deposit paid before this date will not need to be safeguarded by a tenancy deposit scheme. What happens if the tenant renews their contract after 6 April 2007? If the tenant decides to remain in their existing rented property beyond the initial fixed term of six months, how the deposit is treated will depend on how the tenancy is continued: Periodic tenancy - i.e. the tenancy continues with no new agreement – TDP will not apply, as no new AST will have been created. Replacement tenancy - i.e. a new AST is created between the same landlord and tenant for the same property on substantially the same basis, – TDP will apply to the initial deposit that was paid prior to 6 April 2007. Students Will students who pay deposits be subject to tenancy deposit schemes? Where student accommodation is let under an assured shorthold tenancy, the deposit must be safeguarded. Halls of residence are not to be let on an assured shorthold tenancy if they are controlled by the university. However, some universities lease their halls of residence to private companies. These companies may let the accommodation on an assured shorthold tenancy. What happens where a parent pays the deposit on a student tenant`s behalf? Where the deposit is paid for an assured shorthold tenancy, it would still need to be safeguarded in a scheme. How would the deposit be repaid once an overseas student returns home? Schemes will be able to return deposits into foreign bank accounts. There would be a charge for this that would need to be paid by the tenant. Who will run the schemes? Scheme operators The Government has awarded contracts to three companies to run tenancy deposit protection schemes from 6 April 2007. · Computershare Investor Services PLC will run the single custodial deposit scheme, with the Chartered Institute of Arbitrators providing the Alternative Dispute Resolution (ADR) service. · The Dispute Service Limited will run an insurance-based scheme directed primarily at letting agents. It will also run the scheme’s ADR. · The National Landlords Association, in consortium with Hamilton Fraser Insurance, will also run an insurance-based scheme, directed primarily at landlords. The Chartered Institute of Arbitrators will be the principal provider of ADR to the scheme. What happens if there is a dispute? Each scheme will contain an Alternative Dispute Resolution (ADR) service. When a dispute occurs, and if landlord and tenant both agree to use the service, they will also have agreed to be bound by its decision with no recourse to the courts. Disputes will only go to the courts if the landlord and tenant do not agree to use the ADR service. In the custodial scheme, where a landlord or tenant does not co-operate in order to release the deposit, i.e. by not agreeing to the release of full or part of the deposit; and not agreeing to resolve the dispute through ADR or court, ADR will be the default way in which to resolve a dispute. In the insurance-based scheme, where the landlord is contactable by the scheme but is refusing to co-operate with the scheme in terms of choosing ADR or the courts, it will be mandatory for the case to be referred to the scheme for resolution through its ADR service. Will there be a charge for the use of ADR? No, ADR will be free of charge for landlords and tenants. In the event of a dispute in the insurance-based scheme, what happens to the deposit? If there is a dispute and the deposit is safeguarded by an insurance-based scheme, the landlord must hand over the disputed amount to the scheme for safekeeping until the dispute is resolved. The scheme administrator will divide the disputed amount in accordance with the ADR service`s, or court`s, decision. For example, a tenant has paid £1000 as a deposit. At the end of the tenancy the landlord states that he wishes to retain £200 to pay for the replacement of damaged furniture, but the tenant disagrees, claiming the property was already in that condition when he or she moved in. If the landlord only wishes to retain £200, the remainder of the deposit (£800) has therefore been agreed to belong to the tenant and should be returned to him/her. The disputed £200 will then be transferred to the scheme administrator until the dispute is settled. What happens if the landlord fails to transfer the disputed amount into the insurance-based scheme? The scheme itself will pay the amount due to the tenant as a result of the ADR service`s or court`s decision. The scheme will then recover the money from the landlord. In the event of a dispute in the custodial scheme, what happens to the deposit? If there is a dispute, the scheme will continue to hold the amount until the ADR or courts decide what is fair. The scheme administrator will divide the disputed amount as a result of the ADR service`s, or court`s, decision. Thu, 01 Feb 2007 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1029Home Information Packshttp://www.drewery.co.uk/newsdetails.aspx?ID=1030– New Legislation On The Home Buying/selling Process Will Affect You Government plans to phase in Home Information Packs (also known as HIPs) in England & Wales on a mandatory basis from 1st August 2007. This will mean anybody wishing to put a property up for sale must have commissioned a HIP before they can market the property. What’s in a HIP? A HIP will provide information about the property being offered for sale. Its contents will include legal documents such as terms of sale and evidence of title; standard searches; any planning consents, warranties and guarantees relating to the property; and an Energy Performance Certificate (EPC). What does it mean for me? As a seller it will mean that when you agree a sale you can be much more confident that the sale will progress smoothly with less chance of the buyer dropping out. As a buyer it will mean you will be able to make an offer knowing about the property upfront allowing you to make a more informed decision. In essence, HIPs offer greater peace of mind and a quicker, smoother process for all involved. How do I go about getting a HIP? It will be the seller’s responsibility to get a HIP commissioned before putting their property up for sale. Getting a HIP will be straightforward for you as we have put in place a simple and efficient solution. We have partnered with a major HIP provider who can offer a technically innovative and customer focused service that ensures swift fulfilment so you can get your property up for sale without delay. Mon, 30 Apr 2007 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1030Home Information Packs - Latest Newshttp://www.drewery.co.uk/newsdetails.aspx?ID=1031Home Information Packs including Energy Performance Certificates will be implemented on a phased basis from 1 August. From then Packs will be required for the sale of four bedroom properties and larger, with smaller properties being phased in as soon as sufficient energy assessors are fully qualified. Until the end of this year, properties can be marketed as soon as a pack is commissioned, and as a temporary measure Energy Performance Certificates can be up to 12 months old when a property is put up for sale. For more information on Home Information Packs please visit the HM Goverment web site: http://www.homeinformationpacks.gov.uk.Thu, 07 Jun 2007 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1031Next Stage For Home Information Packshttp://www.drewery.co.uk/newsdetails.aspx?ID=1032The Government has today announced that Home Information Packs (HIPs) and Energy Performance Certificates (EPCs) will be rolled out to three bedroom properties from 10 September 2007. HIPs and EPCs are being introduced on a phased basis to ensure a smooth transition in the housing market, and to begin the process of transforming the home buying and selling process in the interests of consumers and the environment at the earliest opportunity. Following the introduction of the packs for homes with four bedrooms and above on 1 August 2007, the Government has today confirmed there will be enough energy assessors, nationally and regionally, to roll out to three bedroom homes next month, having taken into account the operation of HIPs in the market. HIPs and EPCs will give house buyers energy ratings for homes for the first time, from A to G - similar to consumer friendly ratings for fridges, helping to lower fuel bills and reduce carbon emissions. The packs will also help to cut costs for consumers by increasing transparency and competition in the home buying and selling process. A further announcement on rolling out HIPs and EPCs to other properties will be made in due course.Fri, 24 Aug 2007 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1032Final Stage For Home Information Packshttp://www.drewery.co.uk/newsdetails.aspx?ID=1033First time homebuyers will see their upfront costs drop and all home buyers will, for the first time, receive A-G green ratings for their properties which will help cut fuel bills and carbon emissions, with the roll out of Home Information Packs (HIPs) and Energy Performance Certificates (EPCs) announced today. Buyers whose homes score poor energy ratings of F or G (currently around one-fifth of all homes) will receive an offer of a discount or free help with energy efficiency measures from the Green Homes Service which will be established, helping to save hundreds of pounds off fuel bills, as announced by the Prime Minister this week. Sixty per cent of the market is already covered by HIPs. The Government has announced the rollout of HIPs and EPCs to the rest of the market from 14 December this year, as the criteria set out for roll out on 11 June have now been met. House hunters will get detailed information about the energy efficiency of their home with a green rating of A-G, similar to consumer friendly fridge ratings, in an EPC. The final stage of the roll out follows careful analysis of how HIPs and EPCs have been working in order to maintain their smooth introduction into the housing market. The extension of HIPs to all properties will particularly benefit first time buyers through a reduction in their upfront costs by not having to pay for a pack, helping them in getting a foot on the housing ladder. The packs are already beginning to bring benefits to consumers with average property search costs starting to fall with the new competition from HIPs - 85 local authorities have already reduced their charges by £30 on average. Fri, 14 Dec 2007 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1033Buy To Let Landlords Have Not Been Shaken By The Credit Crunchhttp://www.drewery.co.uk/newsdetails.aspx?ID=1034Buy to Let landlords have not been shaken by the credit crunch. Nine out of 10 surveyed during the last quarter of 2007 state they have no intention of selling their properties for nearly 17 years. Four out of 10 of them expect to invest further in the Private Rented Sector this year. These are among the findings of the latest quarterly ARLA Review and Index published today, January 8. `This is good news for the whole of the Private Rented Sector and for the housing market, particularly as it comes from surveys carried out well after the credit crunch had begun to bite,` commented ARLA’s Head of Operations, Ian Potter. `The rental sector is the lynchpin for all our housing requirements and needs continual investment from private individuals as it still suffers from a lack of investment from the institutions.` Buy to Let investors borrowed an average of 70% of the purchase price, down from 74% in the previous quarter. More than one in six borrows less than half. The average life expectancy of these Buy to Let investments is 16.7 years. This figure has been fairly constant for the past three years. Only one in 12 expect the investment to be less than five years and a mere 2% see it as short term, i.e. less than two years. The quarterly ARLA Review and Index is distilled from information provided by investor landlords who subscribe to the ARLA Buy to Let website, as well as member letting agents. The publication of the Review and Index is supported by the ARLA Group of Mortgage Lenders: Bank of Ireland, Cheltenham & Gloucester, GMAC - RFC, Mortgage Express, NatWest and Paragon Mortgages. Although the majority of investors have bought existing properties, in good condition and ready to let, 7.5% reported buying off-plan during the last quarter. `Buying off-plan flies in the face of the continuous warnings given by ARLA and the ARLA Group of Mortgage Lenders that this kind of property investment cannot make for a realistic Buy to Let investment proposition,` said Ian Potter.. `The rental market is too fluid to make judgements on rental values and likely demand months or even years in advance, for property that has yet to be built,` he continued. `We cannot repeat this warning often enough. The potential investor must take local advice from the professionals about the property, the way it is furnished and the realistic market rent.` However, the vast majority of respondents to the survey state that they tend to side with caution and to give themselves a cushion, both in terms of equity and rental income. Well over half are cautious over both considerations. On average, Buy to Let investors have been residential landlords for just over six years. Only two out of ten have been landlords for less than a year, The Review and Index for the last quarter of 2007 shows the average rate of return on a cash purchase of residential investment property at 10.8% and for geared investments, assuming a 75% mortgage, 21.43%. The fourth quarter surveys were carried out too early to judge any possible effect on the proposed changes in Capital Gains Tax from next April. Should tax relief on mortgage interest for residential investment be disallowed, a comparatively high figure, 37%, said that this would not influence them, although a further quarter said they would sell all or some of their property investments. Warned Ian Potter, `Any alteration in the reliefs could seriously damage the Private Rented Sector. It is only with the help of the refinancing by Buy to Let investors that the sector has become properly viable again although, even now, we are still experiencing a severe shortage of property.` Further information on above article available at www.arla.co.uk.Tue, 04 Mar 2008 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1034New Drewery Web Siteshttp://www.drewery.co.uk/newsdetails.aspx?ID=1035Drewery Property Consultants have created a number of new letting web sites to give even more coverage to our properties. Web sites now covering Eltham, Welling, Bexleyheath, Crayford and surrounding areas. go to: www.elthamdrewery.co.uk www.wellingdrewery.co.uk www.bexleyheathdrewery.co.uk www.crayforddrewery.co.uk www.bexleydrewery.co.uk www.sidcupdrewery.co.uk other web sites drewery already own include: www.letting-agents-bexley.co.uk www.letting-agents-dartford.co.uk www.letting-agents-crayford.co.uk www.letting-agents-orpington.co.uk www.letting-agents-eltham.co.uk www.letting-agents-bexleyheath.co.uk www.letting-agents-welling.co.ukSat, 19 Apr 2008 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1035Video Tours Now Available On Drewery Web Sitehttp://www.drewery.co.uk/newsdetails.aspx?ID=1037www.drewery.co.uk is now showing video tours on a selection of properties to rent. Look out for our video tour icon on our full property detail pages. Paul Long (Director) of Drewery Property Consultants says: ``Our new video tour service has been a great success with helping applicants find suitable property faster and Landlords letting their properties quicker`` think Lettings - think Drewery.Sat, 01 Nov 2008 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1037Insurance For Let Properties – Are You Really Insured?http://www.drewery.co.uk/newsdetails.aspx?ID=1038This is an area often overlooked by Landlords when they decide to let a property. We regularly advise our Landlords that the overall risks associated with letting a property are significantly different to owner occupied properties and recommend that any property insurance is taken out with an insurer who is specialised in the lettings sector. Most Landlords are unaware that a standard ‘owner-occupied’ insurance policy may not provide adequate cover if the property is let, and they should also check all policy wording to see if the insurance is valid. It is important that the property is adequately insured, with the sum insured representing the true cost to rebuild the property and not the current market valuation. In may cases property owners will under value the true re-build cost and this will result in the insurer not paying the full amount of the claim to re-build. It is recommend that Landlords obtain a professional re-build cost calculated by a qualified surveyor or speak to the insurer for further advice. It is also important that a Landlord obtains written consent from their mortgage lender, existing insurer and head lease (if a leasehold property). Failure to obtain written consent from these parties may also render their insurance void in the event of a claim. The type of tenant should also be considered, as many insurers will not provide cover if the tenant is considered high risk. These include tenants in receipt of State benefit, students or multiple single sharers. Landlords should also check that any contents policy provides cover in relation to both Employers Liability and Landlords Liability. This cover will protect the Landlord from compensation claims such as injuries to tenants or guests caused by defective cookers, light fittings or loose carpets. We strongly that all Landlords take both minimum contents and liability cover. Mon, 24 Nov 2008 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1038Gas Safe Register Replaces Corgi Gas Registrationhttp://www.drewery.co.uk/newsdetails.aspx?ID=1039WHAT IS GAS SAFE REGISTER?™ Gas Safe Register is the new hallmark for gas safety in Great Britain. From April 1st 2009, Gas Safe Register replaces CORGI gas registration as the official gas safety body. So, from 1st April, by law, only Gas Safe registered engineers should carry out work on gas appliances or installations in your home. Why do I need to use a Gas Safe registered engineer? It’s all about safety. To make sure that gas appliances such as boilers, fires, ovens and hobs are installed, maintained and serviced safely you should employ a Gas Safe registered engineer to carry out the work. If someone other than a Gas Safe registered engineer does the gas work in your home, you could be risking the safety of your family and your property. Why is CORGI gas registration in Great Britain ending? The HSE (Health and Safety Executive) undertook a review of gas safety in 2006. This review concluded that there was a strong case for modernising the gas registration scheme to bring added benefits to gas consumers and gas engineers. The review called for a clearer focus on gas safety, and simple registration and competence requirements for gas engineers without compromising safety or service standards. It was an opportunity to build on the successes of the existing registration scheme, and at the same time introduce innovation and add value to gas consumer safety. What will happen to any existing investigations of registered installers? Any ongoing HSE, LA or police investigations against CORGI registered installers will continue and be unaffected. Any ongoing investigations of consumer complaints against CORGI registered installers in connection with the gas registration scheme will be passed to Gas Safe Register for completion. How do I check my engineer is Gas Safe registered? Always ask for the card. All Gas Safe registered engineers have an ID card with their licence number and a photograph. The licence number is easily verified on the website or by phone and we will get back to you with confirmation of the engineer’s name. If you think your engineer is not registered, just call 0800 408 5500 or let us know via our website. How do I find a Gas Safe registered engineer? To find a Gas Safe registered engineer in your area, just come back to our website www.GasSafeRegister.co.uk on 1 April or call us on 0800 408 5500. Download the consumer leaflet (pdf). DO YOU LET OR RENT A PROPERTY? Are you a landlord or letting agent? Landlords are legally responsible for the safety of tenants. So, to make sure any property you own is safe, all appliances must have a safety check carried out every 12 months by a Gas Safe registered engineer. You must give your tenant a record of that safety check within 28 days or to a new tenant before they move in. Remember you must keep a record of each safety check for two years. All existing gas safety records will be valid until their expiry date (even if that date is later than 1st April 2009). Any gas safety record given to you after 1st April 2009 will only be valid if the engineer is registered with Gas Safe Register. Letting agents need to be sure of exactly who is managing the gas duties at all properties. If it’s contractually your responsibility, then the same conditions apply to you as that of the landlord. Are you living in a rented property? As a tenant, it is important to always check the ID of any gas engineer that comes to do work at your property. From 1 April 2009, the engineer must be a Gas Safe registered engineer. It’s in your best interest to co-operate with the landlord whenever a gas safety check or maintenance needs to be carried out by letting the engineer in to do the work. And don’t forget to make sure your landlord supplies you with a copy of the safety check within 28 days of it being carried out or before you move in. Remember, if you think a gas appliance is faulty turn it off and let your landlord know immediately. Please visit www.gassaferegister.co.uk for further information and full copy of above article.Mon, 23 Feb 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1039Selling Your Home? New Legislation Regarding The Home Information Packshttp://www.drewery.co.uk/newsdetails.aspx?ID=1040From 6th April, if you`re selling your home, there are two key changes you need to know about. The first change is that, from this date, the Home Information Pack will need to be available from the first day your property is put on the market. The second is to the HIP itself, which will now contain a new Property Information Questionnaire. The PIQ, which you will need to complete, will provide a summary of key information about your property in one place. This compulsory one-stop checklist gives buyers information they need to know before making any decision. First-time buyers, with little experience of buying a home, will find this particularly helpful. The PIQ aims to reduce unnecessary delays caused by information coming to light later in the home selling and buying process. By ensuring that common questions are answered at the beginning, and before sellers or buyers invest heavily in a transaction, unwanted surprises can be avoided later on. These changes are being introduced to HIPs so that better information is available from the first day a property is put on the market, helping to inform decisions for sellers and buyers, and helping to make the home selling and buying process more straightforward. For further information visit <A HREF=`http://campaigns.direct.gov.uk/homeselling` target =`blank`>http://campaigns.direct.gov.uk/homeselling</A>Thu, 26 Mar 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1040Buying A Property? New Legislation Regarding The Home Information Packshttp://www.drewery.co.uk/newsdetails.aspx?ID=1041From April 6th, you`ll be able to get a copy of a Home Information Pack for any property you are interested in as soon as it comes on to the market. In addition, the HIP will now contain a new Property Information Questionnaire (PIQ). The PIQ will contain useful information on structural changes / damage, flood, risk, gas and electrical safety, parking arrangements and, for leasehold properties, additional information such as the current service charge. It ensure that common questions are answered at the beginning of the process and before you incur any costs, so you can avoid surprises later on - particularly helpful to first-time buyers with little experience of buying a home. So whether you`re thinking of viewing a property or making an offer, the HIP can help inform your decision and make the home buying process more transparent. As a buyer you can get a copy of the HIP free on any property you`re interested in (although you may be asked to pay copying and postage costs). Always ensure you ask to see the HIP before you view a property. For further information visit <a href=`http://campaigns.direct.gov.uk/homebuying/` target=`blank`>http://campaigns.direct.gov.uk/homebuying/</a>Thu, 26 Mar 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1041We Have Just Sold A House In Parkmead Road, Sidcuphttp://www.drewery.co.uk/newsdetails.aspx?ID=1050Drewery have just sold this 3 bed house in Parkmead Road, Sidcup, Kent. Similar properties are urgently required for waiting buyers. Contact our Sales Department on 0208 300 6761 for a FREE VALUATION. ** SPECIAL SELLING FEES FOR PROPERTIES NEAR PARKMEAD ROAD **Tue, 04 Aug 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1050We Have Just Sold A House In Gloucester Road, Sidcuphttp://www.drewery.co.uk/newsdetails.aspx?ID=1049Drewery have just sold this 3 bed house in Gloucester Road, Sidcup, Kent. Similar properties are urgently required for waiting buyers. Contact our Sales Department on 0208 300 6761 for a FREE VALUATION. ** SPECIAL SELLING FEES FOR PROPERTIES NEAR GLOUCESTER ROAD **Fri, 07 Aug 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1049We Have Just Sold A 4 Bed Detached House In Hemmings Close, Sidcuphttp://www.drewery.co.uk/newsdetails.aspx?ID=1045Drewery have just sold this 3 bed house in Hemmings Close, Sidcup, Kent. Similar properties are urgently required for waiting buyers. Contact our Sales Department on 0208 300 6761 for a FREE VALUATION. ** SPECIAL SELLING FEES FOR PROPERTIES NEAR HEMMINGS CLOSE **Mon, 10 Aug 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1045We Have Just Sold A Retirement Flat In Tudor Court, Sidcuphttp://www.drewery.co.uk/newsdetails.aspx?ID=1046Drewery have just sold this 1 Bed Retirement Flat in Sidcup, Kent. Similar properties are urgently required for waiting buyers. Contact our Sales Department on 0208 300 6761 for a FREE VALUATION. ** SPECIAL SELLING FEES FOR PROPERTIES NEAR TUDOR COURT **Tue, 11 Aug 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1046Demand In Rental Market Returns For The First Time Since Recession Beganhttp://www.drewery.co.uk/newsdetails.aspx?ID=1053Demand in rental market returns for the first time since recession began "It seems that people who delayed setting up home 12 months ago, now feel secure enough to proceed" The residential rental market is beginning to stabilise with property oversupply decreasing across the UK and the number of new tenancies increasing, according to the Association of Residential Letting Agents (ARLA). Results from the latest ARLA survey of its members show that the historical decline in numbers of tenants, which led to a surplus of properties to rent, is coming to an end. • 83% of ARLA members signed up 10 or more tenancies during the last quarter, compared to 79% last quarter. • Each member signed up an average of 36 new tenancies, compared with 32.6 last quarter. • Almost a third of members (33%) surveyed felt that supply and demand of properties is in balance; this compares with just 19% last quarter. Ian Potter, Operations Manager of ARLA, said: `This shift in the balance of supply and demand is extremely significant for the private rented sector. It gives further evidence to suggest that the property market as a whole is getting back on its feet. `This shift also indicates that confidence is rising among prospective tenants; it seems that people who delayed setting up home 12 months ago, now feel secure enough to proceed. Equally, those who historically have shared a rental property seem happy to set out independently.` In addition, the number of members who believe that there are more residential properties available for rent than there are tenants to fill them dropped significantly in the three month period, from 70% to 43%. The number who say that there are more tenants than properties has risen from 10% to 24%. The situation is particularly significant in the rest of the South East, where three times as many members said that there are more tenants than properties (27% compared with 9% last quarter). `This recovery of sorts is still in its infancy and needs as much support as the Government can muster. As we have stated repeatedly, a healthy private rental sector is the only way in which the Government can hope to house future generations. Accordingly, the Government must do all it can to nurture the recovery of the PRS including the implementation of meaningful consumer protection measures,` Mr Potter added. Historically, tenancy rose across all regions of the UK until the recession hit, when properties became harder to let and supply outweighed demand. This trend was felt hardest from late 2008 and into early 2009. This latest ARLA research also showed that the average void period of a rental home has dropped for the first time in more than a year, indicating that properties are being rented more quickly. In the winter of 2008 the average length of time for a property to remain empty was 3.8 weeks across the UK, yet by May 2009 this had risen to 4.3 weeks as homes became harder to rent. Now, the figure has dropped to an average 4 weeks (and 3.8 in the South East), giving further indication that the rental property market is picking up. The data from the third quarter of the ARLA Members’ Survey of the Private Rented Sector is drawn from 639 offices. The survey is supported by mortgage lenders Mortgage Express and Paragon Mortgages. Together with the Survey of landlords, this forms part of the quarterly ARLA Review and Index. All surveys and statistics can be downloaded from www.arla.co.uk. Fri, 09 Oct 2009 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1053Drewery Will Match Your Current Agent’s Fees On A Multi Agency Basis.http://www.drewery.co.uk/newsdetails.aspx?ID=1054Why not get more exposure at no extra cost to you? for a limited period Drewery will match your current agent’s fees on a Multiple Agency basis. If you have not entered into a Sole Agency Agreement or it is coming to an end, then we would be delighted to immediately discuss our services and provide a Free Market Appraisal - We will match your current agent’s fees on a Multi Agency basis. What makes us different to your present agent?: • We currently advertise on over 25 PROPERTY WEB SITES, (including rightmove, primelocation and findaproperty) - which appears to be at least 18 more sites than any other estate agent in the local area; • We are the only estate agent in Sidcup with No.1 position on Google and Bing search engines for our own web site - which receives thousands of hits each month; • Our telephone lines are open longer – applicants can book viewing appointments via our after hours viewing line when other agents are closed; • We have been selling property longer - since 1945, and have a dedicated team of over 13 members of highly experienced staff. In the meantime, you may wish to visit our Selling section on our web site where you will find fuller details of the professional services we are able to offer, and our membership of property ‘professional bodies’ such as NAEA (National Association of Estate Agents) and ARLA (Association or Residential Letting Agents).. Looking forward to hearing from you in due course, Clive Lingard F.N.A.E.A Sales Manager DREWERY PROPERTY CONSULTANTS Thu, 04 Feb 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1054Uk Facing Severe Housing Shortagehttp://www.drewery.co.uk/newsdetails.aspx?ID=1055UK facing severe housing shortage There is not enough rental property to meet consumer demand in the UK – and the situation is worsening, according to Q1 research from the Association of Residential Lettings Agents (ARLA). Insufficient supply of good quality property means that the private rented sector (PRS) is struggling to meet demand. With the PRS picking up the slack from the housing market, ARLA believes that the next Government must focus on averting the sector from crisis. `More than two thirds of our agents have seen demand outstrip supply across the country – there simply isn’t enough housing stock coming onto the rental market. The Government’s move to help first-time buyers by raising the Stamp Duty threshold was a step in the right direction. Now we need to see tangible measures to support the PRS,` said Ian Potter, operations manager of ARLA. `Investors need to be treated as businesses, with proper incentivisation to invest in and refurbish older properties. This will improve standards, help the environment with improving insulation, and encourage much-needed investment to help get the market back on its feet. `Banks need to be told to be more flexible about the provision of finance for the Buy-to-Let sector which has fuelled the supply of good quality homes, and saved this government from an even greater housing shortage. Without these kinds of measures there is a serious risk that a shortage or rentals will create another form of housing crisis.` The research, conducted among UK letting agents and landlords, shows that during Q1 2010, two thirds (59%) of ARLA member agents reported more tenants than properties available. This is a 50% rise on the last quarter (41%) and in Q3 2009 the figure was just 24%. The speed with which tenants are snapping up homes to rent is also telling - properties are vacant for an average period of just 3.6 weeks, which is down from 4.2 weeks at the same point last year. Regional perspectives London Lucy Morton MARLA, Managing Partner – W.A. Ellis LLP: `The lack of stock is almost at crisis point in central London. In a year, it has dropped by about 60%. The upside to this is obviously that rents are rising dramatically and, in some cases, are back to pre-credit crunch levels.` North West – Greater Manchester Robert Jordan FRICS, FARLA Hon. Chairman, Jordan’s: `There is a real shortage of good quality property coming on to the market. Tenants are staying much longer in their rented property so the traditional ‘churn’ in the market has all but dried up. Governments seem not to understand that the PRS is a very important element in the housing supply chain. There is far too much legislation which puts off new landlords entering the market. They need incentives which will help the one million homeless in this country find a decent home to live in.` Scotland – Edinburgh and Glasgow Fiona Docherty, Managing Director, Ryden Lettings: `The position in Edinburgh and Glasgow mirrors that of the UK as a whole with far more tenants than suitable properties. Properties which remain in greatest demand are one and two-bedroomed properties towards the lower end of the market. This underlines the difficulties people are having in being able to buy particularly at the first-time buyer end of the market. `Additionally, landlords are taking their properties from the rental market and placing on the sales market buoyed by reported improvements, whether these translate into sales only time will tell. In the meantime, people need somewhere to stay.` To view the Q1 2010 ARLA Review and Index, visit: http://www.arla.co.uk/q1riSat, 17 Apr 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1055Why Should A Landlord Or Tenant Seek Out An Arla Member?http://www.drewery.co.uk/newsdetails.aspx?ID=1056Probity and Protection - ARLA leads the industry in setting and regulating the highest standards in the industry and demands certain levels of professionalism and commitment to customer service from its membership. ARLA members are required to work within a robust Code of Practice, which covers the key stages in letting and managing a property. There are comprehensive membership Byelaws which include compliance with such issues as handling and accounting for Clients’ money; the mandatory ARLA Client Money Protection Bonding Scheme; Professional Indemnity Insurance; Dealing with Complaints and Disciplinary Procedures. ARLA members are required to employ a minimum of at least one member of staff, in any office, who holds a suitable industry qualification, recognised by the Association. ARLA keeps it members up to date with changes in legislation and provides wide-ranging training and guidance to help members understand and interpret all aspects of letting and managing a property.Sat, 17 Apr 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1056Naea: Spring Shoots Spark Recoveryhttp://www.drewery.co.uk/newsdetails.aspx?ID=1057The number of people selling their homes rose in March to its highest level in six months, according to the National Association of Estate Agents. The average number of properties for sale per branch increased from 56in February to 60 in March. This is the highest figure since September last year. The arrival of Spring also brought an influx of new house hunters to the market. In March, 274 people registered per branch, compared to 258 in February, an increase of seven per cent. The number of sales agreed also increased, from an average of seven per branch to eight. T he percentage of sales to first time buyers (FTBs) decreased slightlyfrom 24 per cent in February to 23 per cent in this month . President of the NAEA, Gary Smith, said: `Spring has finally arrived and brought with it a much needed boost to the housing market, particularly amongst sellers. `This figure has been low in recent months and this is a welcome indication that reflects a growing confidence that the recovery is well underway.`Fri, 30 Apr 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1057Buying A Repossessed Propertyhttp://www.drewery.co.uk/newsdetails.aspx?ID=1058Although the legal requirements when buying a repossessed property are basically the same as when buying any other, there some issues that arise from the fact that the lender has no personal knowledge of the property and that the transfer will be under a power of sale. You can end up with a bargain, but you need to prepare for the fact that the lender’s solicitors will not be able to answer the vast majority of your enquiries, will expect you to do all the legwork (and bear any associated costs) and will set and stick to tight deadlines. Raising Enquiries on a Repossessed House The lender will obviously never have occupied the property and consequently will not be able to answer the usual enquiries that would be raised of an owner-occupier. There should be a Property Information Questionnaire in the Home Information Pack though it may not contain the specific information you are looking for; and in the place of a Property Information Form there will usually be another, much shorter document, which basically points out that you must rely on your own investigations. There will be certain things, such as planning permissions, NHBC certificates, building control completion certificates that you will need but the lender will often not hold. You may ask the lender’s solicitors to obtain copies however they are under a duty to mitigate costs and will usually advise that you must obtain them at your own expense. Although they may suggest indemnity insurance for certain things, most standard policies will require you to confirm certain things that only a person with past knowledge of the property could confirm, for example in respect of lack of planning permission, that the work that has been done is at least 12 months old. You may therefore need to obtain a bespoke policy, which if it can be obtained at all would be more expensive. As the seller won’t be able to give you any information about any disputes, it is worth trying to speak to the neighbours to check if there are any issues, such as access or boundary disputes, that you ought to be aware of. The lender’s tactics when disposing of properties are to do so as quickly and cheaply as possible and limit any liability which it might have following to completion the minimum possible. This can be frustrating for a purchaser but it has to be remembered that they have a duty to the repossessed borrower to act in such a way as to mitigate their loss. The original full article can be found: http://www.hip-consultant.co.ukSat, 08 May 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1058Naea: Spring Shoots Spark Recoveryhttp://www.drewery.co.uk/newsdetails.aspx?ID=1059The number of people selling their homes rose in March to its highest level in six months, according to the National Association of Estate Agents. The average number of properties for sale per branch increased from 56in February to 60 in March. This is the highest figure since September last year. The arrival of Spring also brought an influx of new house hunters to the market. In March, 274 people registered per branch, compared to 258 in February, an increase of seven per cent. The number of sales agreed also increased, from an average of seven per branch to eight. T he percentage of sales to first time buyers (FTBs) decreased slightlyfrom 24 per cent in February to 23 per cent in this month . President of the NAEA, Gary Smith, said: `Spring has finally arrived and brought with it a much needed boost to the housing market, particularly amongst sellers. `This figure has been low in recent months and this is a welcome indication that reflects a growing confidence that the recovery is well underway.`Sat, 08 May 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1059Home Information Packs Have Been Suspendedhttp://www.drewery.co.uk/newsdetails.aspx?ID=1060The Government has announced the suspension of Home Information Packs with immediate effect from 21 May 2010. In an important step at a point of fragile recovery in the housing market, Communities Secretary Eric Pickles and Housing Minister Grant Shapps today announced that with immediate effect, they are suspending the requirement for homeowners to provide a Home Information Pack (HIP) when selling their homes. Mr Pickles today laid an Order suspending HIPs with immediate effect, pending primary legislation for a permanent abolition. The Secretary of State has taken this swift action in order to avoid uncertainty and prevent a slump in an already fragile housing market. Today`s announcement sends a clear message of encouragement to people thinking of selling their home that they can put it on the market with less cost and hassle. HIPs are currently holding back the housing market because sellers are having to fork-out extra cash, sometimes hundreds of pounds, just to be able to put their home up for sale. Suspending HIPs will reduce the cost of selling a home, remove a layer of regulation from the process and provide a welcome help to the housing market during the recovery. It will also mean a saving for consumers to the tune of £870m over ten years, giving sellers more money in their pocket to spend in the wider economy. Mr Pickles and Mr Shapps also said that the Government is determined to help people reduce their energy bills, improve our energy security and tackle climate change by increasing the energy efficiency of their homes. Sellers will therefore still be required to commission, but won`t need to have received, an EPC before marketing their property, and the Government will consider how the EPC can play its part in the new drive for a low carbon and eco-friendly economy. Eric Pickles said: "The expensive and unnecessary Home Information Pack has increased the cost and hassle of selling homes and is stifling a fragile housing market. "That`s why I am taking emergency action to suspend the HIP, bringing down the cost of selling a home and removing unnecessary regulation from the home buying process. "This swift and decisive action will send a strong message to the fragile housing market and prevent uncertainty for both home sellers and buyers. "HIPs are history. This action will encourage sellers back into the market, and help the market as a whole and the economy recover." Today`s move is part of delivering a key manifesto comment made by both parties in the new coalition Government. It will mean that sellers will no longer be told they have to buy a HIP before putting their home on the market, but they will now have the choice to provide one if they want to. Housing Minister Grant Shapps said: "This is a great example of how this new Government is getting straight down to work by cutting away pointless red-tape that is strangling the market. Rather than shelling out hundreds of pounds for nothing in return we`re stripping away bureaucracy and letting home owners sell their properties. "But we`re also showing our commitment to a greener housing market by keeping Energy Performance Certificates and making them more relevant in helping buyers make informed decisions on the energy costs of their new home." Tue, 25 May 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1060Suspension Of Home Information Packs : Questions And Answershttp://www.drewery.co.uk/newsdetails.aspx?ID=1061Please note that the Home Information Pack duties are suspended with immediate effect from 21 May 2010. This means that homes marketed for sale on or after this date will no longer require a Home Information Pack. However, Energy Performance Certificates are still required. I am just about to put my house on the market. Do I still need a HIP? The duty to have a HIP has been suspended from 21 May. This means homes put on the market on or after that date will no longer need a HIP. However, you will need to have commissioned, but not necessarily received an Energy Performance Certificate before marketing can start. What do you mean by "commissioned an EPC"? This means that a seller or a person acting on their behalf i.e.an estate agent must have instructed an accredited Energy Assessor to carry out an energy performance assessment. Who or what is an Energy Assessor? This is someone who is accredited (regulated) to provide energy assessments on buildings. HIP providers may be able to provide this service as long as they are accredited under scheme as an energy assessor. I have ordered a HIP but have not received it yet - what should I do? You should contact your HIP provider as soon as possible. The duty to have a HIP will be suspended on Friday 21 May and homes put on the market on or after that date will not need one, although you will still need to have commissioned but not necessarily received an Energy Performance Certificate before marketing can start. My home is already on the market with a HIP - do I have to do anything? No. Sellers still need to provide an EPC to potential buyers under separate legislation but that should be included in your HIP. Will I still need an EPC after the suspension of HIPs? Yes. Sellers will need to have or to have commissioned but not necessarily received an Energy Performance Certificate before marketing can start. Whose duty is it to provide the EPC? The duty to provide an EPC falls on the seller When does the EPC have to be provided? An EPC has to be available or have been commissioned before a home can be marketed for sale. It should be provided to potential buyers at the earliest opportunity and before entering into a contract to sell the property. What is the penalty for not providing an EPC - who will enforce it? There is a fixed penalty of £200. Enforcement of these requirements is the responsibility of Trading Standards Officers. There are also penalties for not complying with the duty to commission an EPC before putting the property on the market. How do I get a copy of the EPC done on my home - I never received a copy of my HIP? If you have had a HIP prepared on your home, the person who prepared your HIP should be able to provide you with a copy of the EPC. Can I reuse the EPC I received in the HIP when I come to sell my home if it (the EPC) is more than 3 years old? Yes. Following the suspension of HIPs, all EPCs will be valid for 10 years. Can I still rely on the HIP produced for the home I am buying? Yes. There is no reason why a buyer cannot rely on the documents contained in the HIP. I know there was a HIP produced for the house I am buying but the agent is now refusing to provide a copy - is that right? Yes. There is no longer a duty on estate agents to provide a copy of the HIP to potential buyers. Does this mean more expense for first time buyers? First time buyers will still receive an energy performance certificate from the seller but will now have to commission their own searches. These will typically cost in the region of £150 which is a relatively small amount in the context of overall transaction costs. Why hasn`t the Government consulted on this, they promised to do so in opposition? The manifestos of the current Government (Conservatives and Liberal Democrats) promised to abolish HIPs and will do so as soon as primary legislation is available. But the Government believes it needs to act quickly to suspend HIPs to remove unnecessary cost and bureaucracy from the housing market. Supporters of HIPs are of course free to put forward their views on the suspension in the period leading up to the Government seeking powers from Parliament to abolish HIPs. I am a HIP provider - will I get compensation? No. The present Government (Conservatives and Liberal Democrats) have consistently opposed the introduction of HIPs and promised to abolish them in their respective manifestos. Important to note that only requirement to provide a HIP is suspended. Sellers are free to choose to provide information to buyers on a voluntary basis and HIP providers can offer such products. Thousands of people involved in the production of HIPs will now lose their jobs? It is not good enough to carry on with a policy that is both unnecessary and costly, purely on the basis of providing job security. HIPs are not providing value for money for sellers or for buyers, so we should not continue burden to the market with this extra layer of bureaucracy. HIP providers could still have a part to play in the housing market offering as buyers and sellers will still require Energy Performance Certificates (EPCs), evidence of title and local searches. I am a Home Inspector and abolishing HIPs means that there is no possibility of using my qualifications? There is work available to Home Inspectors who are accredited energy assessors in producing domestic EPCs which continue to be required for rental properties and properties marketed for sale. Will the Government compensate Home Inspectors? We appreciate that abolition of HIPs would remove the option of compulsory Home Condition Reports. However, when the Government was in opposition they made it clear that they opposed HIPs and set out in their manifestos plans to abolish them if elected. Will an EPC still be needed after the suspension of HIPs? Yes. Sellers will need to have commissioned but not necessarily received an Energy Performance Certificate before marketing can start. Estate agents cannot start marketing until they are satisfied that an EPC is available or has been commissioned. Agents will also have to include energy information in written particulars, as was the case before the suspension of HIPs. They must do so as soon as the energy information becomes available. Who will be responsible for providing the EPC? The duty to provide an EPC falls on either the seller, in the case of a building being sold, or the landlord, in the case of a building being rented. In the case of new buildings the duty to provide an EPC falls on the builder. When does the EPC have to be provided? An EPC has to be made available at the earliest opportunity and, in any event, no later than exchange of contracts. As soon as the EPC is obtained the energy rating or the EPC must be included with any written particulars. Where is the legislation on EPCs contained? The legislation is contained in the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 (as amended by the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) (Amendment) Regulations 2010). What are the penalties for non-compliance? The penalty for not ensuring that an EPC is available or has been commissioned and failing to include energy information in written particulars is £200. The enforcement of these requirements is the responsibility of Trading Standards Officers. How long will the EPC be valid for if it is not part of a HIP? All EPCs for all buildings are valid for 10 years from the date that they are prepared. What about the requirement to include energy information in written particulars? The duty to include energy information in written particulars has been retained. It arises once an EPC has been obtained. What if the EPC is not available when I prepare the written particulars? Written particulars can still be prepared and made available but the energy information should be added to the written particulars as soon as it is available. Is there a time limit on this? The seller and estate agent must use all reasonable efforts to ensure that the EPC is available within 28 days of the property going on the market. How long will the HIP suspension last - why don`t you just abolish them outright? Outright abolition will need primary legislation and we will do that as soon as practicable. Why not just suspend HIPs and leave it at that? The Government is committed to implementing its policy to abolish HIPs. The power to suspend is therefore an interim measure. Will estate agents have any HIP duties once they are suspended? No but there will be duties under the EPB Regulations for agents to ensure that an EPC has been commissioned before marketing starts and to include the rating in written particulars when available. Am I still obliged to provide a copy of the HIP? No but there is no reason not to do so if it improves the chances of a successful sale. The seller will still have to provide a copy of the EPC to potential buyers at the earliest opportunity and in any event before exchange of contracts. I received a request for a copy of the HIP before the suspension date - am I still obliged to provide it? No but see answer to previous question. Can buyers still rely on a HIP after the suspension date? Yes. If the HIP was compliant with the regulations there is no reason why a buyer should not be able to trust it. Will estate agents still be liable for breaches that occurred before HIPs were suspended? Yes. The suspension of the duties is not retrospective. However, it will be for enforcement authorities to decide whether to pursue the matter. Can personal search companies go back to using insurance in their searches when they can`t get information from local authorities? The rules on the content of searches only applied to searches in the HIP and will not apply to searches provided in other circumstances. Will the CLG be providing guidance on the effect of these changes? Yes, the CLG website and others (DirectGov & Business Link) will be updated as soon as possible. There is evidence that HIPs were beginning to work - why not try and improve them rather that abolish them altogether? And where is the evidence that HIPs were damaging the market? The election manifestos were clear that if elected, the Conservative Party and Liberal Democrat parties would abolish the HIP.Tue, 25 May 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1061Capital Gains Threat To Rental Markethttp://www.drewery.co.uk/newsdetails.aspx?ID=1062A lack of available properties and the proposed increase to the rate of Capital Gains Tax presents a grave threat to the Private Rental Sector (PRS), according to the Association of Residential Lettings Agents (ARLA) The PRS currently represents more than three million homes, and is a crucial component in offsetting the shortage of homes being built to house the growing UK population. ARLA believes that the new CGT policy could create a shortage in rental property supply as investors look to sell off their portfolios and also deter future investors from entering the sector. "Our latest research shows that rent levels are on the rise, indicating a potential market stabilisation, but also highlighting the dearth of available rental properties," said Ian Potter, operations manager of ARLA. "With the anticipated increase in Capital Gains Tax rates for non-business assets, we could potentially see a fire sale situation arise in the buy-to-let market with investors offloading properties. Consequently, the number of available rentals will greatly diminish and the fragile market recovery jeopardised. "There are some potential solutions, one of which is that landlords should be treated as exempt businesses. For example, could the new Government propose taper relief, or rollover relief into the CGT changes? We need clarity before this new Government risks damaging the confidence of the recovering property market." ARLA`s latest research reveals that almost a third of ARLA members (30.8%) felt that achievable rent levels had increased in the last six months. This compares with just 12.5% of members at the end of 2009. In central London the situation is even more prolific, where almost half (46.7%) of members surveyed reporting an increase in achievable rent levels. "As the new government plans its first steps, it is vital that there be a concerted focus on the PRS," continued Mr Potter. "For months we have emphasised that specific measures are needed to encourage the creation and improvement of rental accommodation - to no avail. "Now, we appeal to the new coalition to implement solutions that will ensure the long-term availability of enough affordable rented accommodation. This includes treating landlords as businesses within the fiscal regime. This is the only way to help ease the housing deficit." Other measures ARLA is calling for include: · Removal of VAT on the purchase of materials and labour to improve older property · Introduction of capital allowances for landlords improving older housing stock · Increase the Landlords Energy Saving Allowance (LESA) to include the installation of central heating systems With reports of house prices on the rise once more, ARLA`s research also showed that the value of rented properties is increasing. The average value of a rented house was £422,700 - up from a low of 371,300 in May 2009, while the average value of a rented flat was £260,000 - again, an increase on the 234,900 seen in mid-2009. The research was taken from the Q1 2010 ARLA Review and Index, available at: http://www.arla.co.ukMon, 07 Jun 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1062Arla Reaction To Budgethttp://www.drewery.co.uk/newsdetails.aspx?ID=1063On the Chancellor’s Budget Ian Potter, operations manager of the Association of Residential Lettings Agents (ARLA), said `The planned rise of Capital Gains Tax may not be as extreme as many had anticipated, but it still comes with little consideration for the needs of landlords. Because of this, the Chancellor risks driving those landlords paying the higher rate of tax from an already very fragile housing market, at a time when they should be actively encouraged to stay and, ideally, further invest. `In particular, neglecting to include rollover relief is a big gamble, as many landlords will now be penalised by CGT – and hit by Stamp Duty – when they sell one rental property and purchase another. This may further disincentivise some landlords from remaining in the Private Rented Sector (PRS) and negatively impact the overall supply of rental property. `The PRS represents an extremely important part of the housing market, providing much-needed flexible and affordable housing to the UK. With this rise in CGT, the Government is taking a huge risk in destabilising the future supply of homes to the UK`Thu, 24 Jun 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1063Rental Housing Supply Hits All-Time-Lowhttp://www.drewery.co.uk/newsdetails.aspx?ID=1064Market bucking seasonal trend The dearth in available rental properties is worsening, according to research out today from the Association of Residential Lettings Agents (ARLA). Almost three quarters (70 per cent) of ARLA member offices say that there are more tenants than available properties. This is an increase from 59 per cent last quarter and 24 per cent in September 2009. The situation is particularly pertinent in the South East, where 76 per cent of member offices report more tenants than properties. Ian Potter, operations manager of ARLA, said: `The spring period would usually see a rise in rental properties coming onto the market, and although there is some evidence of landlords considering selling up, it is not enough to counteract the change in supply. `This situation has been deteriorating rapidly in recent months, as the supply and demand of homes to buy is also swinging out of kilter – making the prospect of a severe rental housing shortage ever more likely. `In his Budget, the Chancellor did little to incentivise investment in the Private Rented Sector – in fact, the rise in Capital Gains Tax may actually discourage potential landlords from investing. This, combined with low construction levels and the cap on housing benefits, means that instead of the housing market getting back on its feet, what we may soon see is people going without homes they can afford – something that simply should not be allowed to happen.` To view the Q2 2010 ARLA Review and Index, visit: http://www.arla.co.uk/q2riThu, 12 Aug 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1064Naea: July Bounce-Back Sees Market Recovery Trend Restoredhttp://www.drewery.co.uk/newsdetails.aspx?ID=1065The housing market experienced one of its strongest months of the year so far in July, according to the National Association of Estate Agents (NAEA). The NAEA’s monthly market report found that demand for housing had increased, more sellers were putting property onto the market and the average agent made more sales than in June. The average agent in July had 292 registered house hunters, up from 279 in June. Supply was also up, with agents reporting an average of 68 properties on their books, compared to 59 in June. The percentage of sales being made to first time buyers (FTBs) also increased from 21% to 26%, suggesting that the decision to raise the threshold of Stamp Duty Land Tax to £250,000 is translating into sales. Michael Jones, President of the NAEA, said the market report showed that the fragile recovery that has defined the market in 2010 was continuing. He said: `Demand and supply both increased in July, which is great news for the housing market. `However we should not get carried away – what we are seeing is a slow, steady and patently fragile recovery. One thing which is interesting is that consumer confidence in the market appears to be high, despite apparent uncertainty elsewhere about the future of the economy.` Mr Jones said that agents typically expected a slower month in August, as families put aside housing plans to enjoy the holiday. And he warned that lenders are still being too restrictive. He said: `One message that estate agents throughout the country are giving us is that the market needs more lending.`Thu, 12 Aug 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1065Drewery Welcomes Another New Memberhttp://www.drewery.co.uk/newsdetails.aspx?ID=1066We have welcomed yet another member to our large team, David . He brings further experience and help to our extremely busy lettings department. The addition of another negotiator to our marketing department continues to keep our team as one of the largest and most experienced in the area, David will be the second negotiator to join us in the last few months. Liz Leitch, Lettings Manager of Drewery, said: ‘‘David will be a great asset for our department which continues to get busier every day. It might come to a surprise to a lot of our competitors that whilst they are decreasing their team size we are increasing ours!’’ Other developments with Drewery include further investment in our own web site which is now available on a variety of Smartphone’s. Members of the public can now visit our web site using their iphone, Blackberry, HTC or Samsung Smartphone and will be presented with and optimised ‘app’’ version of our web pages that’s quick and easy to use. Drewery continue to lead the way with internet exposure and have become one of the first agents in the local area to provide an optimised ‘app’’ to the public to view local properties on Smartphone’s. Thu, 21 Oct 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1066Rightmove Announce Unexpected Sales Market Figureshttp://www.drewery.co.uk/newsdetails.aspx?ID=1067The emotional roller-coaster of the volatile property market has taken a fresh, if not entirely unexpected, twist this month. Despite near-record stock levels and deteriorating mortgage availability, the 105,769 new properties added to the rightmove property web site this month are priced at a seemingly illogical 3.1% more than last month. However, bullish pricing is a normal reaction to the start of the autumn selling season after the summer holiday period. New sellers and their estate agents have an inbuilt instinct to increase prices every October – which has happened every year since the inception of Rightmove’s House Price Index in 2001. This is the fourth October since the start of the credit crunch and their behaviour has still not changed, illustrating how firmly rising property prices are embedded in the UK home-owners psyche. The average rise measured in October for the last 10 years is 2.0%. This year’s hike of 3.1% is the highest October rise since 2003 (3.3%). While normal for the season, it is unsupported by market and economic fundamentals except in a few areas of major housing shortages. Family homes are in short supply in parts of the south, especially in London where new sellers put up their average asking prices by 5% this month. This is not dissimilar to the 6.5% jump in the capital this time last year, though London buyers’ lack of choice has now been eased by a 34% year-on-year increase in new stock, rising from an average of 3,455 to 4,624 properties per week. Thu, 21 Oct 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1067Rental Demand Reaches Record High - ‘generation Rent’ Must Be Given Regulatory Protectionhttp://www.drewery.co.uk/newsdetails.aspx?ID=1068The number of tenants seeking rental properties has reached an eight year high, according to research from the Association of Residential Lettings Agents (ARLA). Letting agents from across the UK have reported a significant shortage of available rental properties as tenant demand far exceeds supply. Ian Potter, Operations Director of ARLA, said: `The market has bounced back in a way that no one could have predicted to levels of demand that have not been seen since the last century. `More than 70 per cent of our agents have stated that consumers coming to their offices are being forced to rent because of the pressure exerted on potential home buyers. This is real evidence of a generation forced into renting and the Government must recognise the need for regulatory protection for them. As a minimum this must include consumer redress through an Ombudsman and Client Money Protection similar to an ABTA Bond. Our members offer these benefits to the consumer be it a landlord or tenant.` The levels of demand are the highest since the ARLA survey began nearly a decade ago and are more than double those experienced at the peak of the property boom in 2007. Demand is highest in the south east of England where 81 per cent of agents have stated that there are more tenants than propertiesThu, 21 Oct 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1068Reluctant Landlords Return To Rental Markethttp://www.drewery.co.uk/newsdetails.aspx?ID=1069The ‘reluctant landlord’ – a phenomenon that emerged during the recession as homeowners were forced to let their property rather than sell it – has returned to the rental market, according to the Association of Residential Letting Agents (ARLA). ARLA’s research revealed that 34 per cent of member offices In Q3 2010 have seen an increase in the number of rental properties coming onto market because they can’t be sold. This figure was an increase from 19 per cent in Q2 of this year. There was variation across the UK in the number of agents reporting this trend, with 58 per cent of agents in the North East of England reporting an increase in reluctant landlords, compared to 15 per cent in central London. The number of reluctant landlords peaked during the recession when at the beginning of 2009, some 94 per cent of agents surveyed reported an increase of property coming onto the rental market because it could not be sold. Ian Potter, operations manager at ARLA, said: `The rise of the reluctant landlord seems to reflect wider market uncertainty and instability. There is a dearth in available property either to rent or buy, yet people are holding back from selling, perhaps strategically, to secure the best price; or more likely because they simply can’t find a suitable buyer. `While we welcome new landlords to the market, this trend is not without risks. Letting a property can be full of potential hazards, especially for inexperienced landlords – from material issues, such as a tenant mistreating a property, to financial problems, such as landlord inability to meet mortgage payments. A qualified, licensed agent can help guide both landlord and tenant through the process, to ensure neither party is left out of pocket.` To view the Q3 2010 ARLA Review and Index, visit: http://www.arla.co.uk/q3riThu, 04 Nov 2010 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1069Uk Changing Attitude To Rentinghttp://www.drewery.co.uk/newsdetails.aspx?ID=1070Renting is becoming increasingly popular, according to research by the Association of Residential Letting Agents. UK changing attitude to renting Renting is becoming increasingly popular, according to research by the Association of Residential Letting Agents. In ARLA’s survey of Q4 2010, 71% of landlords asked said they felt renting was more popular now than a year ago. In Q4 2009, the figure was just 35%. And, when asked about attitudes to renting and whether consumers would rather buy than rent, the majority of respondents (67.2%) felt that people were being forced to rent – a slight drop on the previous quarter (71.6%), but still up on Q4 2009 (54.2%). Ian Potter, operations manager of ARLA, said: `Our research suggests that, while more and more people seem to be renting post-recession, for many this is through need rather than choice – a trend that will likely continue as long as the demand for homes outstrips supply. `Further, with the average age to buy a first home now reported to be 35, it’s also possible that renting will become the norm for more people than ever before. `What is important for both ‘reluctant tenants’ and those who rent by choice, is to conduct thorough research before making a move. While there are many benefits to renting or letting a property, as there is no Government-led regulation, things can and do go wrong. `If you’re letting or renting a property through an agent, check that the agent is a member of an organisation such as ARLA, which ensures landlord and tenant money is protected by a client money protection scheme.* ARLA agents are also required to be members of an ombudsman scheme which can offer redress if things to go wrong."Fri, 28 Jan 2011 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1070January Jump Creates A Happy New Year For Housing Markethttp://www.drewery.co.uk/newsdetails.aspx?ID=1071THE UK housing market saw a surge in the level of enquires, both for buyers and sellers in the first two weeks of January, according to estate agents. The buoyant start to the year was recorded in a poll of almost 700 estate agents conducted by the National Association of Estate Agents (NAEA). Almost two thirds (59 per cent) of those surveyed said that the number of house hunters registering with them during the first two weeks of January was higher than they would normally expect for this time of year. A quarter (26 per cent) said that levels were consistent with the average for January. Just 14 per cent said things were worse than expected. Similarly, the level of enquiries from potential sellers went up with 45 per cent of NAEA members reporting an increase over the same period. Over a third, 36 per cent of agents questioned said that figures remained steady. NAEA President Mike Jones said: `The results of this latest survey would seem to indicate a renewed confidence in the housing market as we begin 2011. It is encouraging to see that the majority of our agents are noting an upturn on both the buyer and seller sides and those that didn’t are still reporting steady figures consistent with January of last year. `The market appears to have experienced a jump start to 2011. We are hopeful that this strong start to the year will continue into February.`Fri, 28 Jan 2011 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1071Shortage Of New Sellers Helps Push Up London Asking Priceshttp://www.drewery.co.uk/newsdetails.aspx?ID=1072While nationally new sellers average asking prices increased by just 0.3% (£711), they were again outperformed by the confidence of the capital’s sellers who pushed theirs up by 1.1% (£4,470). This is the first increase in London new sellers’ average asking prices for three months, and is a timely positive sign for new sellers as it breaks the downward spiral of falls seen in the previous two months when prices fell by a total of 2.4%. Miles Shipside, director of Rightmove comments: `This month’s price rise will come as a welcome respite to prospective sellers in the London area as they had witnessed falls in both November and December. Sellers in the run up to Christmas normally have a pressing reason to sell so chopped back their prices, while sellers launching to the market in the New Year are traditionally more optimistic.` Rightmove have recorded rises in new London sellers’ asking prices in January for seven of the last nine years. This year’s increase has been assisted by upward price pressure resulting from a shortage of fresh property coming to market. Newly marketed properties in recorded in the January House Price Index were 5.4% down on the same period last year, and remain well-below pre-credit crunch levels of around 14,000. The heavy snow will have played some role in the low listing numbers, and it will be important to see to see to what extent figures bounce back in the next few weeks. Shipside adds: `The market remains thin and open to some monthly price volatility. On the upside we have the shortage of fresh property stock that helps push prices upwards in the more desirable areas. Less popular locations and property types may find prices under pressure due to the deposit requirements of lenders limiting the budgets of buyers. As London has an international audience who rely less on mortgage finance to buy, we predict it will outperform the rest of the country yet again in 2011`. As well as the rise in new sellers’ asking prices, there have been signs of pent-up buyer demand in January with Rightmove recording record levels of internet traffic. For the past three successive Monday’s Rightmove have had their busiest ever day, starting on Monday 10th January with 28.3m pages, which was toppled on Monday 17th with 29m pages and finally Monday 24th which saw a staggering 30m web pages of property served. This activity pushed Rightmove up to as high as 7th in terms of most used websites by UK users. The better value buys may well prove to be in lower priced areas where current mortgage restrictions affect the number of buyers most. All four of the cheapest boroughs have seen year-on-year price falls. Barking and Dagenham (-0.6%), Bexley (-3.1%), Havering (-3.1%) and Newham (-7.3%) have seen new seller asking prices down compared to a year ago. Shipside adds: `Those areas hardest hit in a downturn often rebound strongest, and these four lowest priced boroughs all show prices even cheaper than a year ago. Affordability has improved, which tends to be a fairly rare event in the history of London property. While there is a flight to quality in less certain times, when markets bounce back it is the less favoured areas that often see the biggest percentage gains.`Sat, 05 Feb 2011 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1072Arla`s Top Tips For `Holiday-Proofing` Rental Properties This Winter Are:http://www.drewery.co.uk/newsdetails.aspx?ID=1073ARLA`s top tips for `holiday-proofing` rental properties this winter are: 1. Don`t ignore the small print Find out what your tenancy agreement requires you to do when leaving a property vacant, as this can make a difference to your liability. Most agreements will reference a tenant requirement to take adequate measures to protect the property from issues like frozen pipes in colder weather. 2. Decide on responsibilities If all of the tenants will be leaving the property vacant for any period of time, ensure that the last person to leave prepares the house for the unoccupied duration. Simple tasks like clearing out fridges/freezers and turning off electric devices at the wall can help prevent problems while you`re away. As most deposit repayments will be shared evenly at the end of a rental term, it is well worth ensuring everyone knows what needs to be done. This will reduce the chance of deposits being held due to a lack of preparedness. 3. Heating can be key While the most effective way of heating a home will vary from property to property, tenants planning extended periods away should always remember to leave heating on at a low level. This will ensure pipes do not freeze and helps to prevent internal damp spreading within the property. In addition to this, if you have a loft, leave the hatch open to allow some warmer air to circulate around the tank. If you do not leave heating on you may be well advised to turn off the water and drain the system. If this is your preferred course of action you are likely to need to get a qualified tradesman to carry this out. 4. Get to know your neighbours It can be worthwhile to share an emergency contact phone number with a neighbour should something go wrong - either your number, or that of the property`s managing agent, if there is one. This will speed up access to the property in the event of something like a pipe leak and is particularly important in flatted properties, where an issue in one flat could rapidly cause problems for other homes in the block. 5. Secure your property If you will be away for a period of time over the winter months, make sure your rented home is fully secure before you leave. Simple measures such as ensuring all windows and doors are locked will deter opportunist thieves, while setting a light on a timer within the property can be an effective additional security measure. Guidance on these issues could reasonably be expected if you were renting through an ARLA licensed agent. They would be aware of your tenancy conditions and in many cases would be able to provide details of the landlord`s insurance requirementsSat, 03 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1073What Happened In Brussels And What Does It Mean For Uk Business?http://www.drewery.co.uk/newsdetails.aspx?ID=1074A great Briefing Papaer to update you all on what is going on and what it all means...... http://www.naea.co.uk/media/133694/What-happened-overnight-in-Brussels.pdf Sat, 10 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1074Letting Your Family Home Rather Than Sellinghttp://www.drewery.co.uk/newsdetails.aspx?ID=1075Downsizing has become common practice in freeing up capital, but selling off the family home may not be the only way to subsidise hard-hit pensions. "With many potential buyers struggling to secure a mortgage, letting your family home rather than selling offers a strong alternative," said ARLA`s President, Tim Hyatt. "Rental returns stand at an average of 6.1 per cent this year, according to research from Knight Frank. This substantially beats the returns on many other current investment opportunities. "ARLA members also report that achievable rent levels are increasing, while demand for good quality rental properties remains high. While market conditions remain so inclined, it could be prudent to let out the family home, and use the monthly rental income to invest in renting a smaller retirement home."* According to ARLA research, `renting to retire` is also a key motivating factor in the buy-to-let market. For example, more than two fifths (42%) of today`s landlords originally invested with a view to creating a retirement `nest-egg`. **Thu, 22 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1075Arla`s Tips For Anyone "down-Letting" A Property To Rent For The First Time Are:http://www.drewery.co.uk/newsdetails.aspx?ID=1076According to ARLA research, `renting to retire` is also a key motivating factor in the buy-to-let market. For example, more than two fifths (42%) of today`s landlords originally invested with a view to creating a retirement `nest-egg`. * ARLA`s tips for anyone "down-letting" a property to rent for the first time are: Notify your mortgage and insurance providers:letting out a property requires a different form of mortgage from owner-occupation so consulting your mortgage lender on their terms. The same applies to insurance, as your buildings and contents may not be covered unless you discuss this change with your provider first. Taking out insurance to protect against a tenant defaulting on rent is also a sound investment in a tough economic climate. Sign up to Deposit Protection:this has been mandatory for all landlords since April 2007. Deposit protection legislation requires deposits on all Assured Shorthold Tenancies to be protected under a scheme licensed by the Government. For more information, visit the Communities and Local Government website, www.communities.gov.uk. To furnish or not to furnish: It is possible to charge more for a furnished property. However, a home furnished with second-hand or `leftover` furniture may deter prospective tenants and may even contravene Furniture and Furnishing Regulations. There are also regulations governing the installation of electrical equipment in rental properties - ensure that these are being followed and that any equipment in the property is regularly tested, as you will need to prove your property is safe. The same is also true for gas appliances, which must be certified and checked annually. Hands-on: Enlisting a managing agent to oversee the property can be of great assistance, especially if you are moving away from the area. At the very least, working with a lettings agent to advertise and fill your home should make the process smoother. Select the agent carefully, always use a regulated agents (such as ARLA members) to ensure client money protection, thereby securing both your money - and that of your tenants` - and access to a redress scheme should it be required. Let go: Finally, in all the decisions you make about letting out your home, remember that it is no longer your home - no matter how much you love it, it is now a home for someone else and, hopefully, an income stream for you. The chances are that accidental damage or wear-and-tearwillhappen, and tenantswillcomplain - so try and keep a clear, detached head when dealing with those kinds of issues, and don`t take it personally. Thu, 22 Dec 2011 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1076Uk Property Market Will See `Gradual` Recovery In 2012http://www.drewery.co.uk/newsdetails.aspx?ID=1077The National Association of Estate Agents (NAEA) today revealed its predictions for the UK property market over the next 12 months. NAEA chief executive Peter Bolton King said 2012 will see a `gradual` recovery for the UK property market, as it continues to bounce along the bottom - with no "great upturn" to mark a change from the previous 12 months. Mr Bolton King said: "I don`t believe that we will see a significant fall in house prices over the next 12 months as some have feared. But equally, it is unlikely we will see any great upturn to help the market back to full capacity. It is likely that property transactions will remain at a similar level to that in 2011." However, a lack of available finance will remain the biggest barrier to would-be home buyers in 2012 warns Mr Bolton King, with first time buyers in particular struggling to access mortgage finance from many major lenders. He said: "Next year will see a continued lending barrier facing those entering the housing market for the first time, with major lenders sticking to tight mortgage policies. Clearly, when the Stamp Duty holiday disappears in the second quarter of 2012 it will become even more difficult for first time buyers to access the market." Commenting on regional variations, he said: "What we will see in 2012 is a continued increase in `micro-markets` across the country. Demand for property in some areas fuels a healthy market while other, less desirable areas, are in danger of being left behind. Even within the same town we see some types of property proving more popular than others. "Pressure for housing will increase in London and the South East throughout 2012. The top end of this market will also remain very resilient, and we believe that purchases from overseas investors will continue apace." Overall Mr Bolton King believes that house prices, on average, will see little change. "Confidence in 2012 will be a key factor and this, to some extent, will be driven by the media."Tue, 03 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1077First Time Buyers Must Act Quickly To Avoid Paying Stamp Dutyhttp://www.drewery.co.uk/newsdetails.aspx?ID=1078THE HOLIDAY IS OVER: FIRST TIME BUYERS MUST ACT QUICKLY TO AVOID PAYING STAMP DUTY With only three months of the stamp duty `tax holiday` remaining, first time buyers must act quickly to avoid paying Stamp Duty Land Tax on their home purchase, warns the National Association of Estate Agents today as it releases its new advice for FTBs. Peter Bolton King, Chief Executive of the NAEA said: "From March 2012 the holiday is well and truly over for first time buyers. Once the Government ends the tax exemption, FTBs will face a tax of three per cent on all home purchases over £250,000. "With many first time buyers trying to purchase their first home before the tax exemption deadline, our members will be working closely with those first time buyers who are able to purchase before March 2012 to guide them through a difficult and challenging market place." With three months remaining until the Stamp Duty Land Tax exemption for FTBs comes to an end, the NAEA has today issued new advice for FTBs: Stay affordable: The key word for lender is affordability, and it should be for you as well. The amount you can borrow from a lender should depend on how much you can afford to repay each month. But when deciding on your budget, remember that what seems affordable at the time of purchase might not be so affordable once interest rates move or your employment situation changes. Don`t forget about fees: Experienced home buyers will remember to include professional costs in their budget, but when buying your first home it can be easy to forget the need to set aside cash for fees to lenders, insurers, surveyors, and other professionals. Choose the professionals: When buying your first home remember to think about who is selling it to you. Buying your first home can often be a stressful experience, as well as the biggest financial transaction of a person`s life. Choose an NAEA Member and make this process as stress free as possible. More and more NAEA members are becoming licensed, in order to protect buyers and sellers and raise standards in the industry. The NAEA licence is also supported by the Government, and so you should always look for the NAEA licence logo when buying your home. Keep a paper trail There can be a lot of paper to keep track of when buying a home, but it`s important to keep an organised file with all your documents associated with the purchase in it. For FTBs it is also sensible to keep detailed notes about the properties that you`ve viewed including important information such as possible repairs needed to the kitchen or bathroom as these can eat significantly into your budget if urgent work is required. Know your maximum offer: When you`ve made your mind up, and it is time to put in an offer, always remember what your maximum offer is. The amount you decide to open with is vital, so work out what your absolute maximum purchase price, and then work backwards. If your first bid is turned down, then be flexible where possible with your second offer, but don`t automatically jump to your maximum affordability. Meeting the buyer half-way can be a good response to show you are serious.Tue, 03 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1078Two Months To Go: First Time Buyers Stamp Duty Holiday Expires On 24th Marchhttp://www.drewery.co.uk/newsdetails.aspx?ID=1079Estate agents today issued a reminder to all first time buyers that the Government`s holiday on Stamp Duty Land Tax will come to an end in two months` time, on Saturday 24th March 2012. Wendy Evans Scott, President of the NAEA said: "With only two months remaining, first time buyers must act quickly to avoid paying Stamp Duty Land Tax on their first home purchase. If you`re currently in a chain and waiting to complete your purchase then make sure that others in the chain know about the end of the tax holiday too. Good communication with your solicitor can help move the process forward, helping you beat the 24th March cut-off." After the tax exemption has come to an end FTBs will face a tax of one per cent on house purchases between £125,000 and £250,000, and a three per cent tax on purchases over £250,000. The NAEA`s recent figures show that the number of sales to FTBs edged up during November and December from 19 per cent to 21 per cent of sales per branch. However FTBs still represent a low percentage of overall property sales, and NAEA data shows the number of first time buyers getting on to the housing ladder hit a three-year low in October, at just 16 per cent of sales. Mrs Evans Scott continued: "First time buyers are key to a healthy property market. We hope to see the number of people completing the purchase of their first home continuing to increase through February and March, as many FTBs are keen to purchase their first home before the tax exemption deadline. "However, it is impossible to predict what impact the end of the tax exemption will have on first time buyers, particularly those on very tight budgets of under £250,000 for whom the one per cent tax could be disastrous. The Government will need to monitor sales closely and consider other action to support the fragile first time buyer market."Tue, 24 Jan 2012 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1079Research Suggests Tide Is Turning In Rental Sectorhttp://www.drewery.co.uk/newsdetails.aspx?ID=1080An easing in the demand for rental property and a rise in the numbers of tenants struggling to meet their monthly rent payments signals that the rental market may be softening, new research suggests. According to ARLA`s latest research, in Q4 2011 just over half (55%) of ARLA members reported more tenants than properties available. While this indicates that demand is still robust, the figure is sharply down on Q3, when three quarters (74%) of members noted that trend. The number of consumers actually signing a new tenancy was consistent with Q3, with an average 34 new tenancies signed per ARLA member office during each quarter. The figure was lowest in Central London, where an average 26 tenancies were signed per branch during October - December, compared with an average 31 in Q3. Over the same period, 39.2% of members reported an increase in tenants struggling to pay their rent; up from 36.7% the previous quarter. Tim Hyatt, president of ARLA, said: "The apparent drop in demand for rental properties could be due to the traditionally quite pre-Christmas period. At the same time, it could indicate a reversal of the surge of new tenants who turned to the PRS when they could not afford to buy. "With household income decreasing and job uncertainty prevailing, it could be that increasing rental arrears is a sign that the wider economic malaise is having a tangible impact on personal finance - some consumers may have reached the limit of their access to finance, while others may be cutting back as many commentators have predicted. "We are reassured by the fact that the number of new tenancies is stable, but we will be watching the market closely in the coming months to determine how significant these latest figures will prove to be. "In tough economic conditions both landlords and tenants can find themselves struggling to keep up with rent or mortgage payments. It is therefore more critical than ever to take references and conduct thorough research before signing a tenancy agreement. Seeking advice from a professional, licensed letting agent is the best way to ensure tenants and landlords` rights are protected."Fri, 03 Feb 2012 12:00:00 GMThttp://www.drewery.co.uk/newsdetails.aspx?ID=1080�