LETTINGSnews
Londoners pay the most rent RESEARCH
New figures released by Endsleigh show that despite the impact of the recession on the property
sector, the lettings market has remained buoyant, with most rental prices in the UK steadily rising in the last two years. The report, which looks at
property rental prices since 2009, shows that the average cost in the UK has risen by 4 per cent, well above the inflation rate in 2010, which fell to as low as 3 per cent. Prices for tenants have gone up
in regions across the UK, however London is the most expensive area, costing double (£1372) the average rental price (£688) per month and tenants in the Capital have experienced an 8 per cent increase in their rents. Living in London costs over a quarter more than it does in Middlesex, the second highest priced region. Surrey is ranked third with the price of a property costing £973. Scotland comes out cheapest,
with a tenant paying just £299 per month for a property, almost half (43 per cent) of the national average. It too has seen an increase in value; last year tenants in Selkirk paid double what they did the previous year. However a tenant will still be paying 4.5 times
SOCIAL TENANTS
Landlords short sighted in shunning LHA tenants
Residential lettings agency Jordan’s is encouraging landlords to consider letting to social
housing tenants as the housing shortage continues. Recent research by the National Landlords Association (NLA) has found that one in five private landlords are now refusing to take on new tenants in receipt of the Local Housing Allowance, in the wake of welfare reforms. William Jordan, MD of North
West based agency Jordan’s said, “We manage many social
58 AUGUST 2011 PROPERTYdrum
housing properties across the North West and landlords are no more likely to face issues than with private tenants. “We safeguard our landlords with our On-Time product, which pays the landlord on the same day every month, regardless of whether the tenant pays. Landlords should also insist that social tenants have a guarantor. Existing claimants who have a track record of claiming benefits can be offer reliable, regular, fixed tenancies. “At a time when rental
properties are needed more than ever, private landlords should always consider social tenants.”
less than a tenant in London. Lincoln, Stirling and Stafford
also came out as good areas for tenants, being second, third and fourth cheapest areas in the UK respectively. Carlos Thompson, Endsleigh’s
Head of Business Development, said, “The increase in cost of renting across the UK shows that despite the recession the lettings market has remained strong, which is great news for landlords and letting agents. Tenants on the other hand may be disconcerted by this news. They shouldn’t be, our survey in April showed that two thirds of landlords won’t be putting up their rents this year. I suspect the increase in rental prices in the last two years has brought rental prices in line with the market value, allowing costs to plateau this year. “However, the very nature of
rented accommodation means there can be unexpected surprises, with the possibility of tenants falling into difficulty, or leaving suddenly. But if landlords protect themselves from lost income through rent guarantee insurance and robust tenant referencing they will be secured against the unexpected, enabling stability in their portfolio of properties.”
SOCIAL RESPONSIBILITY
Barbon’s new homeless initiative With the assistance of the
Property insurance broker Barbon Insurance Group has developed a new Corporate Social Responsibility
(CSR) strategy that will support a number of homeless charities around the country with the equivalent of one per cent of its profits over the next three years. CEO Martin Oliver explains, “As our company continues to grow, we felt that it was important to invest in a strategic CSR policy for a number of reasons. Our individual divisions currently work with a number of charities, and it was felt that we could have a greater impact by combining our efforts for one main underlying cause.”
strategic charity partnership agency The Giving Department, a great deal of research took place prior to choosing homelessness as the core theme underlying Barbon’s approach to charitable investment. As the majority of Barbon’s brands work with property, letting and social housing, the homelessness cause represented a good business fit, while providing a compelling cause for staff to engage with.
Martin continues, “Our aim is to
raise or donate the equivalent of one per cent of our profits within three years towards our chosen homelessness charities – that’s £140,000 as it currently stands. We will do this by sponsorship, fundraising and by our staff giving their time.”
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70