Latest News
25th June 2010
We are so Cool.......
OK maybe not as cool as Snoopy but since the installation of our New Air-conditioning Units we think that we are the coolest agents in the Area.
"With the recent hot weather the office would have been unbearable to work in, but with the new Air Con well work is even more of a pleasure than normal. Infact sometimes its a bit too cold (but don't tell Dean I said that)" commented Kerry Morton, who is one of our Property Managers.
so if you need to Cool down this summer just pop in and see us. We'll be the ones in the cool shades!!
16th June 2010
World Cup Fever hits the Streets
For at least as long as England remain a part of this World Party of Football, our tiny Island is gripped analysing every tiny development in the England camp. This coming just after the election and whilst the nation also holds its breath about the contents of the Con Lib Dem's first budget should mean that all is slow in the property market. And this is the case in respect of new listings for Sales and for Lettings. However, demand continues at a frustrating pace....frustrating because agents barely have the supply of properties to meet the demand of our customers. We are really sorry about that people. But a note of warning also, because we all know what Economists tell us happens when demand exceeds supply. Yep upward pressure on prices. Hopefully normal service will resume when England lift the trophy and have done the Open Top Bus Tour! Come on England!!
21st May 2010
Bumper Spring for Sales and Lettings
It has been a bumper market for activity in Sales and Lettings this spring and as we look towards the summer we have pipelines of excited clients anticipating moving into new homes and starting the next chapters in their lives. Lettings stock has been seriously depleted by a throng of applicants securing new properties and quite frankly we are almost SOLD OUT. We would love to here from anyone considering letting their property at the moment.
The sales market is still recovering, with mortgage money available to those with good credit ratings and a sizeable deposit to put down. Confident investors are again eyeing up the Buy to Let Market in the belief of long term stability and reasonable investment returns. First Time Buyers seem resigned to the fact that when prices dropped few could get finance to take advantage of the low prices and now that prices have recovered the asking price is the price they will have to pay to secure that valuable first step on the property escalator.
Dare we say a hint of optimism in the Property market.
20th May 2010
HIPS are DEAD
Con-Lib Dem team deliver on removal of Home Information packs
This will come as a relief to many and certainly the removal of the obstacle of a £300-£400 fee standing in the way of putting your property on the market will be welcome. Whether this is a totally positive step will be seen. After all, the pain of having to comply with the process of obtaining the HIP had been dealt with and customers WERE used to the need, however unwelcome, of commissioning the report (which quite honestly few except for solicitors ever looked at). The number of properties on the market DID reduce and not just because of the recession and the ability of clients to "feel" the market out without financial commitment will put more properties on the market.
A market of (financially) committed and motivated vendors is not a bad thing though and we agents who moaned about HIPS may regret getting what we wished for.
But a thought for a young industry which has died well before its prime and some sympathy I think for the good people who trained (and paid to be trained) to provide this service. Another career change for them and uncertain times for many families. Sincerely we wish them well.
Note: It IS still a legal requirement to have a Energy Performance Certificate (EPC) which we can arrange. Please call us on 0208 515 7929.
13th May 2010
Coalition could spell huges losses to Landlords
The idea of a coalition, a "dream team" if you like, looks like a great idea but we should be cautious to read the small print and make sure that measures proposed will not result in significant disadvantage to the Property Market. Changes proposed to Home Information Packs, Tax changes etc could present a real risk to our clients.
Our first concern is the proposed changes in the calculation of Capital Gains Tax (CGT). If the reported increase from 18% to the investors personal rate of Tax is brought in this will be a major increase in Tax liabilities when investment properties are sold. The answer really is to sell now OR to wait it out and hope for a future relaxation of the regime.
"Interesting Times" indeed, but this could be seen in retrospect as "Expensive Times" and, as always, the Devil is in the Detail. We will wait and see!
If you are considering disposing of your investment (s) please call Dean or Russell (0208 515 7929)
14th April 2010
Open House Viewing a Real Success
The Open House viewing held last weekend at Melodies in Oxhey Lane was an outstanding success resulting in 14 interested parties viewing the property on the day! This is typical of taking a very special property and giving it maximum exposure to generate the best possible interest. A Beautiful day, a fabulous location and lots of interest created a perfect Open House Viewing.....and no one fell in the pool either (thank goodness!!). " We were pleasantly surprised with the amount of interest that we had and we have already received some interesting offers which we are discussing with our client" commented Sales Manager Russell Cox.
24th March 2010
BUDGET NEWS!!
Is this what first time buyers have been waiting for?
It certainly can't hurt to remove the burden of Stamp Duty on purchases of up to £250,000 as the Chancellor has announced today. But...every silver lining has a cloud!
First time buyers are still as rare as honest Estate Agents (present company excepted) and the Government could easily have given this concession to investors also if they really wanted to revive the market. They have also succeeded in accentuating the difference in Stamp duty between those properties just under and those just over the threshold making a sale between £250001 and around £270,000 "very challenging" shall we say.
Don't get me wrong for those first time buyers who CAN get a Deposit and CAN get a mortgage this will give them a valuable saving but more could have been done. I'll bet Mr Darling is telling his wife "some people are never satisfied!", and he would be right!
12th March 2010
ARLA Conference "the best ever!"
This year's ARLA conference has been heralded and the best ever by many attendees. With a varied programme of speakers and content varying from very entertaining to rather worrying (legal update!!), the conference also featured a packed exhibition with suppliers to the lettings industry showing off the latest developments designed to make the life of a letting agency easier (if a bit more expensive).
Clearly we were very proud to have Dean Ayling on the stage debating the future of the Private Rented Sector and supporting the role of the Independent Letting Agent.
3rd March 2010
2nd new staff member in a Week!!
Newcomer Bradley Broch is the second new member of staff to join Colin Dean's professional team this week as we continue to look to a brighter future and a revival in the fortunes of the property market. Bradley is joining us specifically to enable more applicants to view property when it is most convenient to them. Working two evening a week and all day on Saturday Bradley is going to be a VERY busy young man!!
1st March 2010
Welcome to Chris Gair
We are delighted to welcome Chris Gair to our Sales and Lettings Team from today. Chris brings a wealth of experience in retail and customer service and is excited to be joining our experienced team. " I cannot wait to get involved in helping Colin Dean's customers realise their ambitions and dreams. Helping someone top find their new home, whether they are buying or renting, is a real privilege." commented Chris.
25th February 2010
DEAN AYLING to be a principal speaker at this year's ARLA Conference
Being held at the Novotel in Hammersmith, London W6 for the second year running our own Director, Dean Ayling has been invited to address Conference on the subject of the Future of the Lettings Industry, giving the view of the Independent Letting Agent. In a debate considering the future threats and opportunities to our market, a number of expert commentators will outline their views on how the Private Rented Sector will fair in a changing legislative and technological landscape.
Dean is looking forward to giving Conference his own personal "Crystal Ball" reading!!!
5th December 2009
CHRISTMAS OPENING
Please note that we will be closed over the Christmas and New Year Period. We will be closing on 23rd December 2009 and re-open on 2nd January 2010.
Merry Christmas and Happy New Year to you all!
10th July 2009
WERE HERE NOW!!
350 Pinner Road, Harrow, Middlesex HA1 4LB
Great to have the move behind us and now looking forward to settling into our new surroundings. Its going to feel strange but the locals are VERY friendly.
Only 2 weeks to go until WE MOVE!!!
Its only 2 weeks until Colin Dean Residential move premises to our new office at Bank House.
Located in the heart of North Harrow's shopping area our new office is more central, bigger and more prominent.
We will be closed over the weekend of 26th to 29th June for the actual move to take place.
If you have any queries or concerns about our move please contact us immediately.
And we hope that you will soon come in to see us in our new surroundings
15th May 2009
ARLA launches new licensing scheme to protect consumer interests
Hundreds of thousands of pounds of consumers’ money is lost each year to unprotected, unprofessional and unethical letting agents. In a survey by ARLA, 95% of consumers revealed that they believe letting agents should be licensed and it is a shock for many to learn that there is currently no scheme in place at all.
A growing number of tenants and landlords are losing out to cowboy agents in the following ways:
• Loss of funds through a lack of client money protection • No professional indemnity insurance in place to protect a consumer from a serious error;
• Loss of monies due to the unlicensed agency holding the funds going into administration;
• Poor advice to landlords, for example about their legally-required deposit protection responsibilities, which can result in loss of the deposit for tenants and/or a fine for landlords;
• No commitment to best practice or any form of independent redress scheme for when things go wrong.
To prevent the practices listed above, and offer assurance to consumers, ARLA is today launching a Licensing Scheme for its members, thereby establishing the highest standards for letting agents in the UK. Housing Minister Iain Wright speaking at the launch of the scheme in the House of Commons, said that the establishment of competency and qualification standards will have wide-ranging benefits for consumers.
Ruth Lilley, Head of Membership and Professional Development of ARLA, said: “ARLA has lobbied the Government for 10 years to assist us in establishing higher industry standards. For too long the rental sector has been seen as the black sheep of the property market with a lack of regulation of and a requirement for redress to protect the consumer when the agent’s failings are to the financial detriment of that consumer.
“The ARLA Licensing Scheme will create the gold standard for letting agents in the UK, offering consumers best practice service and advice – as well as a commitment to the protection of their money.”
As of today, all ARLA members will need to be licensed as part of their membership, which includes the following implications:
• Each individual member will hold a gold standard professional qualification relating to lettings;
• All members must undertake Continuing Professional Development
• Agents must ensure they have client money protection schemes in place to protect all tenant and landlord funds held by their office;
• All clients funds require to have an annual independent audit
• Agents must have professional indemnity insurance in place;
• Agents must sign up to an independent redress scheme;
• Agents must abide by a strict code of practice.
None of the above is compulsory for letting agents as standard at the moment.
Letting agent and ARLA President David McMaster commented: “As an agent, this is something I have been campaigning for for years. Having a license helps me to set my business apart from all the unscrupulous, untrained and unethical agents who I hope will one day be ousted from the market because of this scheme.”
Paul Ramsden, Deputy Chief Executive, Trading Standards Institute, commented: “The absence of Government regulation of letting agents has long been a concern for TSI. We have in the past, and continue to, call for tighter controls of this sector. In general, but even more so during these difficult times, people will leave themselves vulnerable to letting agents intent on reaping the benefits of the regulatory gap in which they operate.
“Though sometimes difficult, consumers, be they tenants or landlords, should seek out letting agents backed by bodies operating OFT-approved codes of conduct to give themselves some level of protection. Whilst it is gratifying to see this increase of self-regulation amongst some sector operators, persons will continue to fall prey to unscrupulous letting agents until such time that a compulsory and robust system of regulations is introduced.”
16th April 2009
New Chief Exec of TDS visits Colin Dean for "Training"
Debra Rymer, the new chief executive of the Tenancy Deposit Scheme spent a busy day with Kerry Morton and Russell Cox both Property Managers at Colin Dean to get a first hand view of the issues and problems encountered by Agents when dealing with management issues and particularly in respect of dealing with the Tenant's deposit.
A variety of interesting events occured during the day, however this was just a normal working day for Kerry and Russell.However, it was an eye opening experience for Debra.
Ms Rymer has just taken up her new role to head up the largest of the 3 Deposit Schemes which currently protects over £800,000,000 of tenants deposits held by professional letting agents.
"It was a real pleasure to be able to show Debra lettings best practise in action, and to give her a practical insight into the various issues that we consider to be routine but would be extremely challenging for someone who was unqualified or lacked the extensive experience that my team possess" commented Dean Ayling.
15 April 2009
More protection for tenants and urgent aid to address housing shortage needed says ARLA
The Association of Residential Letting Agents (ARLA) has put pressure on Chancellor Alistair Darling to take radical action in his April 22 budget including:
-Greater protection for private sector tenants during the economic downturn;
-Incentivisation for private sector landlords to improve the quality of housing stock
-Reform to mitigate the adverse impact of Stamp Duty on larger investor landlords.
On the issue of greater tenant protection, Ian Potter comments: “ARLA calls on the Government to ensure lenders give tenants at least two months notice of an eviction after a repossession order has been granted. “This would rest the issue of blame with the landlord if the mortgage is defaulted provided that the tenant has kept up to date with their rental payments. It will also allow the tenant more time to find alternative accommodation.”
On the issue of UK housing stock quality, Ian Potter comments: “A quarter of the accommodation provided in the private rented sector is in dire need of improvement. The Government should incentivise landlords to improve the quality of UK housing stock.
“It is ARLA’s opinion that the Government should implement the following initiatives:
1)Remove VAT on the purchase of materials and labour for capital expenditure to improve older property brought into the rental market;
2)Introduce capital allowances for landlords improving housing stock over a certain age;
3)Increase the Landlords Energy Saving Allowance (LESA) to include the installation of central heating systems.”
On the issue of stamp duty, Ian Potter comments: “Larger investor landlords can be put off buying blocks of property as Stamp Duty is based on the total value of the transaction, rather than value of individual properties within the block. This almost always has the effect of the duty being at the highest rate. Government incentives could be provided to purchasers of older property where a survey report and an Energy Performance Certificate show a property is likely to benefit from investment.
He continues “Where this is the case, and the landlord completes the work within a period of, 12 months from purchase, the stamp duty could be refundable. There could also be a “clawback” facility whereby the Government could claim back the refunded stamp duty if the property was not kept for a given period, say 10 years, as a rental property.”
We can only wait to see if Government agrees with ARLA's view in the Budget announcement
8 April 2009
Research Reveals Britain’s “Reluctant Landlords”
Frustrated sellers are turning to the lettings market creating a glut of inexperienced landlords, according to the Association of Residential Lettings Agents (ARLA).
94 per cent of lettings agent respondents to the ARLA Members’ Survey of the Private Rented Sector reported an increase of property coming onto the rental market because it could not be sold.
ARLA’s members believe that these figures confirm a trend that has been much discussed but thus far unproven other than through anecdotal evidence.
The trend was reported countrywide with even 92.2 per cent of landlords in “prime” Central London locations reporting an upsurge in rentals coming onto the market.
Ian Potter, Operations Manager of ARLA, said: “Sellers have been left with little option but to resort to renting out their property. These reluctant landlords need to understand the obligations of a landlord to their tenants, and the need to choose a regulated and qualified letting agent.”
Semi-detached houses appear the most common type of property succumbing to reluctant letting: This was followed by detached houses (67 per cent), terraced houses (52 per cent), with flats (29 per cent) and studios (11 per cent).
Ian Potter explained: “These figures confirm the trends we have been hearing from ARLA’s members that sellers looking to downsize are turning to the lettings market after being unable to sell.
“Detached and semi-detached houses are always traditionally harder to rent, but in this market there is now a glut of un-sellable properties coming onto the market. It is another sad indication of the work that the Government must take to free up the sales market and the need to regulate a lettings market that is becoming increasingly competitive.”
Mr Potter said: “For those landlords new to renting, it’s crucial that they look for a local lettings agent who is both regulated and abides by a code of practice.
“The agent will also have received the necessary training and qualifications, and consumers can be confident that any funds being held by them on your behalf are protected under client money protection schemes.”
According to ARLA’s members, the increase in new landlords has led to tenants taking extra measures to gain assurances on the security of the property. According to Lucy Morton, managing partner and head of lettings at W A Ellis, and president-elect of ARLA, there is a growing trend for tenants to be asking for references on landlords.
She explained: "Tenants are increasingly nervous about the security of landlords, we are also seeing tenants asking for assurances that the landlord will be able to cover his mortgage payments throughout their Tenancy."
6th April 2009
Bye - Bye to CORGI
CORGI who have been synonymous with Gas Safety for years, have lost the contract to run the Gas Safety Awareness Scheme. From 6th April 2009 anyone installing or working on Gas Appliances will need to be registered with a new scheme called "The Gas Safe Register" which is being run by CAPITA. This means that contractors who were formally registered with CORGI as Gas fitters must now be registered with the new Gas Safe scheme or risk loosing business.
Please be assured that Colin Dean Residential will only be working with Contractors who can prove that they are registered on the Gas Safe Register.
1st April 2009
Who Needs an EPC?
EPC's or energy performance certificates are a fantastic tool for those of us who want to do our bit to help save the planet....and to help us save money too!
Now a requirement in any property being Let or Sold, any Agent offering a property which is being advertised on the market must be able to supply an up to date EPC Certificate or report on the property.
With this you will be able to compare which property is the most energy efficient and will cost the least to run. Obviously the running costs may not the most important feature to you, but this is a really useful method of comparing similar properties. Ask for an EPC on each property you view.