LETTINGSnews


FranCHIsInG


The keys to a new property business


The property is industry now being hit, says Martin & Co., with an online revolution.


The number of


online searches for lettings has overtaken those for sales for the first time. This combined with 94 per cent of tenants starting their search on the internet (TDPG research), is a shift in consumer behaviour that the industry is reacting to rather than leading. Ian Wilson’s (above) franchise company, Martin & Co., believes that traditional letting agents are threatened by cost of premises, high portal subscriptions and a lack of investment in their own website and e-commerce technology. Now, a low cost online franchise


from Martin & Co enables new businesses to be started – by almost anyone – agents fed up making money for their boss through to property investors wanting the tools to manage their own portfolio. With no need for shop premises, and one of the most visible letting agent websites (Greenlight report, Feb 11) as your own private property portal this online model dramatically cuts the typical high start up costs for your own letting agency.


New agencies must have a


powerful differentiator if they are going to secure new instructions. Currently, Martin & Co offices


have used the brand to gain a 9 per cent market share in some locations and an average 2.5per cent market share aggregate across the network. The Martin & Co. brand has proved capable of winning business from the competition to build market share. By investing in an online sales director, email marketing tools and quality content, an optimised website and scope for offices to run local Google Adword campaigns alongside social media the Martin & Co brand has catapulted into the 21st century. propertyfranchise@martinco.co


Landlords lock out the pets


landlords


Pets are suffering from a raw deal as landlords refuse to allow them to move in to rented homes


with their owners. Letting agents and landlords are experiencing record rents and swarms of tenants chasing fewer properties as the number of homes to let decreases. The increase in tenants is good


news for agents and landlords but many landlords are refusing to let tenants take in their pets as well due to concerns about damage and mess to a property. While the law means that


tenants can keep chickens and rabbits regardless of a landlord’s wishes, other pets are not so lucky. The Battersea Dogs and Cats


Home, London, has cared for almost 400 pets left by their owners who could not take them on to their new rented homes in


InsuranCe 14% increase in home burglaries


Homelet is advising lettings agents to encourage tenants to make sure their possessions are covered following the release of the British Crime Survey for 2010/11. The Survey, released in July,


found a general decrease in crime levels across England and Wales, although highlighted a 14 per cent increase in domestic burglaries since last year. John Boyle, MD, HomeLet,


said, “We can often carry around up to £1,000 worth of belongings with us on a day- to-day basis, including our iPods, laptops, designer sunglasses and cameras, to name but a few. It’s surprising just how easily a thief can relieve you of your possessions whilst you’re sat drinking coffee or surfing the web in a cyber café. And with recent


reports of a rise in burglaries, over the past year, it’s now even more important to ensure you’re securely locking your home and keeping your valuables out of sight when you leave.” Only 12-15 per cent of


tenants are taking up their own insurance to protect their contents. Jewellery, TVs, laptops, DVD


players, iPods, games consoles, bicycles and even clothes are some of the items largely targeted by thieves, but without the right insurance, tenants could find themselves out of pocket. John Boyle added, “HomeLet protects £600 million pounds worth of tenants’ contents and over the years we have covered hundreds of thousands of tenants, on average, paying out over £1500 for theft claims - money that tenants could find themselves paying out if they were not covered.


the past 18 months. The charity expects the numbers to grow and for the animals to wait longer for a new home as many who would like a pet are not allowed to keep them by their landlords. The charity is pressing for landlords to give tenants with pets more leeway.


tenants


Landlords and tenants, good relations


The majority of landlords say they have good relations with their tenants, according to


a survey by the National Landlords Association (NLA). It found that 61 per cent of landlords have “very good” relations with their tenants, while 34 per cents ay “good”. Three per cent say their relationship is “adequate” while less than one per cent say it is “poor”. David Salusbury, NLA Chairman, said, “The private rented sector will play an important part in helping to meet the demand for quality housing in the coming years. So it is pleasing to see that almost all landlords have a good relationship with their tenants and that both parties are content”.


CoMMerCIal landlords Riot damages


The British Property Federation (BPF) and law firm Hogan Lovells have issued a legally drafted letter that allows landlords to defer rent from riot affected businesses: http://www.bpf.org.uk/en/files/ press_release_docs/Riots_rent_ deferral_letter.pdf


Under many leases the tenant is to be liable and could be in breach of contract if they do not continue to pay their rent. The letter shows landlords how to give them the chance to defer rent payment as they get back on their feet. The Local Data Company (LDC)


estimates that 48,804 premises have suffered directly or indirectly in the 28 town centres affected by the disorder. Independent outlets were hit particularly hard. Ian Fletcher, director of policy at the BPF, said: “While some retailers will have the benefit of insurance to cover the riot damage, others do not or may find it takes time to bring a claim and more generally to restock their business, which could leave them with significant cash flow problems.”


PROPERTYdrum SEPTEMBER 2011 55


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