LETTINGSnews
PRS Rise in private renting
Savills’ excellent Residential Property Focus, Q2 2011, has just been published. It
examines key trends across the UK property market and reviews the short and mid term outlook. The report says that, “It is becoming increasingly clear that the structure of the market is changing, and we ask what history can tell us about what to expect in the future.” Briefly discussing the Private
Rented Sector (PRS), the report notes that there are now 900,000 more tenants in the PRS than there were in 2005, “Further growth in demand for private rented sector accommodation is an inevitable consequence of falling transactional activity. The English Housing Survey recently reported that the number of households in the private rented sector in England had increased by nearly one million since 2005, with an increase from 3.07 million to
‘There are now 900,000 more tenants in the PRS than 2005.’
3.36 million between 2008/09 and 2009/10.” Download the full report at,
www.savills.co.uk/research/ residential-research.aspx
FRANCHISES Martin & Co celebrate 25 years
Celebrating the 25th birthday of his firm, Richard Martin, Chairman Martin & Co (UK) Ltd, says, “You cannot compromise the values upon which a successful business has been founded. Your good name is everything; in this case my name, because it’s above the door!” Martin & Co celebrated
15 years of franchising in 2010, but 2011 marks the 25th birthday of the Martin & Co brand.
Launched in Yeovil in 1986,
Martin & Co grew quickly. Richard then began offering training courses to prospective letting agents which were quickly over-subscribed. Several attendees were so impressed that they approached Richard with a view to operating his business system under licence. “Having, almost by accident, read ‘Behind the Golden Arches’ –
the story of MacDonald’s extraordinary success through franchising, whilst on holiday in Portugal, it struck me that franchising was the key to growing my business,” he said, and the first franchise was established in 1995.” Martin & Co now has over 170 franchised branches.
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A sign of quality PROPERTYdrum JUNE 2011 59
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