Latest News
Tuesday 19th July 2011
Landlords' fury as more agents fail
Tenants and landlords of two more failed letting agencies are furious at the alleged loss of their deposits and rents – and the reluctance so far of authorities to take action.
One victim said: “It appears that anyone can set up as a letting agent and take tenants’ and landlords’ money, and the authorities will turn a blind eye to it all.”
One of the agents was in Swansea, Wales, and the other in Glasgow.
In Swansea, ADS Lettings went into liquidation last December An angry tenant who dealt with proprietor Steve Lewis said: “I am still trying to find out what has happened and where in fact my money is.”
In Glasgow, a firm called Access Properties (Scotland) ceased trading about mid-May this year. It was run by Niki Ihle, who is now acting as a consultant for another letting firm, At Home Property Letting. Angry customers claim that they have been told by Glasgow Trading Standards that she has no assets to pay out. One said: “It seems that the authorities won’t help. The police won’t help, as to them it is a civil matter. Trading Standards are ready to give up.” This customer has called for regulation of letting agents, a mediation service for complaints, a requirement to hold tenants’ deposits in separate protected accounts, and a requirement for letting agents to hold insurance.
Colin Dean Residential are ARLA licenced agents and hold specific client money protection insurance to safeguard cleints funds in the event of fraud or business failure. We are also members of the Tenancy Deposit Scheme which protects clients deposits in the event that the business fails and the deposits disappear.
11th January 2011
Luckily we have only had one burst pipe in a client's property during the current winter, but for the poor tenant (and the occupier below) this was at the very least unwelcome. Following a freeze comes a thaw and we have a thought for you to be aware of the consequences of frozen pipes and the subsequent possibilities
We take it for granted that when we turn on a tap, water is going to gush out. When it doesn’t, it can cause headaches for homeowners or landlords who have to fix the problem (and their renters who have to suffer it). There’s no water for washing, cooking, or cleaning; your heating may not work – and you can’t even flush the loo.
Prevention is better than cure, so as the temperature drops, lag outdoor water pipes and know where your stop-tap is located. Keep your home heated during a very cold snap; set your timer to constant or 24 hours and use your thermostat to maintain some warmth through the night and while you're out.
Even so, if the worst happens, and if the problem is not obvious, you may need to call in a professional rather than tackle it yourself. The frozen pipe may need to be exposed and heated; and, as owner, you are generally responsible for your water supply pipe - the pipe that brings fresh water into your home from the street boundary. After freezing has occurred in pipes there's a risk of a burst if heat is applied suddenly. Don't switch on water heating appliances including boilers and immersion heaters until you're sure the system has thawed out.
If in doubt call for professional advice and do not hesitate to call for the Fire Brigade if a trickle turns to a flood10th January 2011
And a word on the mortgage market......
After a challenging 2010 we are expecting the residential mortgage market to continue in the same vain throughout 2011 .
We expect
interest rates to remain low for a considerable amount of time , which will
continue to maintain current affordability levels for homeowners . However first
time buyers are the life blood of a vibrant housing market and we see the lack
of mortgage funding and restrictive lending criteria holding back people on the
bottom rungs of the ladder .
On a positive note low interest rates and an increase in rental yields caused a comeback from buy to let investors during the second half of 2010 . With some new lenders and a number of old lenders returning to the market we believe we will see this trend continuing throughout 2011.
Our advice is free, unbiased and we have access to the whole of the mortgage market. If you would like to discuss your plans please contact
Steve Farley, Practical Mortgage Solutions 0208 424 9013
10th January 2011
HAPPY NEW YEAR
No Snow and busy phones!!
It is a relief to be open and trading without the added complication of snow and freezing temperatures. But it is not just the temperatures that are hotting up! We are finding that after the initial few quiet days immediately after the New Year holiday things are getting busy with many new buyer and tenant enquiries as well as good quality properties coming to the market and being snapped up!!
A good start to 2011 but certainly not getting too excited as we all remember promising starts which have stuttered. However if you have been thinking about making a move perhaps, just perhaps it might be worth crystallising those plans. Please give Ryan or Dean a call to discuss your property intentions in 2011.
3rd December 2010
VAT Changes from 1st January 2011
Following the Budget announcement of the increase in the rate of Value Added Tax (VAT) from the 1st January 2011, we confirm that the VAT chargeable on our services will increase from this date from 17.5% to the new rate of 20%. In some cases we have been able to absorb this increase but for the vast majority of our tariff an increase to reflect this change is unavoidable.
3rd December 2010
Christmas Opening Hours
On behalf of everyone here at Colin Dean Residential I would sincerely like to thank you for your business this year and to wish you and your family a very happy Christmas and a happy healthy and more prosperous year as we enter 2011
For your information our opening hours over the Christmas Period are as follows:
Friday 24 December Christmas Eve Closed
Saturday 25 December Christmas Day Closed
Sunday 26 December Boxing Day Closed
Monday 27 December Bank Holiday Closed
Tuesday 28 December Bank Holiday Closed
Wednesday 29 December Closed
Thursday 30 December Closed
Friday 31 December New Years Eve Closed
Saturday 1 January New Years Day Closed
Sunday 2 January Closed
Monday 3 January Bank Holiday Closed
Tuesday 4 January Open as normal 9am to 6pm
2nd December 2010
Shame......
Despite a great Bid, England have been overlooked as potential hosts for the 2018 World Cup. It would have been a dream come true, especially after the 2012 Olympics but alas it was not to be. Well done to the Bid team who seem to have put together a convincing argument. Its a shame for such fine words to fall on deaf ears.
1st December 2010
"Swatters Rights!"
I honestly did see this sign posted inside the front window of a clients property which was temporarily occupied by some uninvited and unwelcome guests.
This week the Government have hit back by issuing guidance to Landlords on action that they can take to reclaim their home if it is occupied by squatters. Posted on the DCLG website, the idea is to make it as easy to learn how to combat squatters as it is to find out how to be a squatter.
Try this just for fun! Google "squatters rights" and see how quickly you can learn to be a squatter. Its a scandal.
Then use this link to find out what action you can take IF you find a squatter in your home.
www.communities.gov.uk/publications/housing /advicesquatters.
1st December 2010
No Snow here!
Were are open and virtually unaffected by the snow which is creating such difficulties around the Country. A word of warning to property owners though to check that you have heat on in the home if you are leaving it unattended. With reported temperatures reaching - 20 c in Scotland freezing pipes could be real problem in our area over this time. So top tips:
- keep some background heat on preferably all day during the cold spell
- if you cannot do this programme the heating to come on at least 2 x 2 hours per day
- arrange for someone to call into the property from time to time to check all is well
- lag your pipes
- keep the loft hatch open to all some of the heat in the home warm the cold loft area
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.