LETTINGSnews
RENT GUARANTEES On Time Rent is launched
North West company On Time Rent Limited is launching a nationwide
scheme following record demand from landlords frustrated by late rental payments.
In 2004 On Time Rent was
developed by Jordan’s and now more than 75 per cent of its clients use the scheme. On Time Rent is now launching to agents throughout England and Wales after a surge in enquires from landlords who wanted their rent guaranteed to be paid on the same day each month. In December, total rent
arrears in the PRS rose for the second consecutive month to 11.7 per cent, while ARLA reported that 40 per cent of landlords had noticed an increased in tenants struggling
with payments in Q4. On Time Rent protects
landlords from loss of rent or unforeseen legal costs that could occur, paying landlords rent on the same day every month regardless of whether or not the tenant pays. Robert Jordan, chairman of
Jordan’s said, “Our landlords were finding it difficult to keep up with mortgage payments with an increasing number of tenants paying their rent late. A couple of days can have a real effect on cash flow.” With On Time Rent, agents
can ensure they pay their landlords on the same day every month; landlords don’t fall behind on their mortgage commitments. On Time pays for legal costs up to £50,000. The rent is guaranteed for up to six months if the tenant is in arrears. The minimum rent covered is £400 and the maximum is £500 per month.
ACQUISITIONS Expansion for Spicerhaart
A leading Sheffield’s estate agency is expanding after acquiring a well-known local firm. Butlers Independent Estate Agents Ltd in Mosborough will become part of Haybrook Residential Lettings in Sheffield. The lettings portfolio will be transferred to the Haybrook city centre branch, making it one of the largest lettings and property management companies in the Sheffield area.
Haybrook, which has 10 lettings
and estate agency offices in the north of England, is part of Spicerhaart, whose Lettings MD Andrew Benn said the group was delighted to have acquired Butlers. “Butlers is a very well established
estate agency with a quality managed portfolio. It was set up six years ago by Leanne Butler who has provided a first class service to her clients over the years. She will be working very closely with us to ensure continuity of service and we look forward to welcoming her
Haybrook in Campo Lane team
to the group. “Leanne and the other members
of her team, Tina Peck and Rachel Innocent ,will transfer to our Campo Lane office. This will ensure a smooth transition as the Butlers’ portfolio integrates and merges with Haybrook’s,” he added. “The rental market is very buoyant in Sheffield, so it is a great time to be expanding. We have ambitious plans to grow our business over the next few years and have several further acquisitions earmarked across the country.”
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56 APRIL 2011 PROPERTYdrum Professional Risks Insurance Specialists
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