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Periodic Inspection Reports
We would like to bring to the attention of all landlords the necessity for Periodic Inspection Reports (PIR). Electrical faults may result in injury to tenants and are a major cause of fires. Whilst installations appear to be in good condition, with no obvious faults, it is essential to establish procedures that ensure safe electrical installations are maintained through periodic inspections using calibrated equipment. Failure to produce up-to-date inspection certificates could even invalidate your insurance. Landlords have a requirement under law (there is a statutory duty of care under the Electricity at Work Regulations 1989) to ensure the safety of their properties, at the very least a full inspection and test every 5 years or on change of tenant. We would like to offer all our landlords giving new instructions in October, November and December a 50% discount on Periodic Inspection Reports.
Baby News
We are delighted to anounce that Julie Pugh, our Maintenance Manager gave birth to a beautiful baby girl in July.
Ms Hockley becomes Mrs Fisher
We would like to congratulate our Property Manager, Lorraine on the very happy occassion of her wedding in July. Lorraine and her husband had a wonderful day and an amazing honeymoon cruise.
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Recent new instruction in the Docklands
Autumn has arrived and we are pleased to report a steady rise in applicants looking for rental properties. Rents are stabilising and whilst it is not yet time to seek increased rent, we can assure landlords of continuous tenancies with almost no void periods. Renewals continue to be strong. Whilst the corporate market has still not recovered to the levels of 2007, properties with rentals of £400 and less per week are performing very well. In an optimistic sign for buy-to-let landlords, an increasing number of agents expect rents to rise in the coming months.
Jeffersons examines every property and tenant individually, assesses the situation and reports to our landlords. This is still a very competitive rental market and we continue to stress the importance of making sure your properties are well presented and marketed in good condition. Landlords should be flexible; the benefits of a small reduction in rent or a request for some improvement in the property far outweighs a lengthy void period which can equate to a considerable loss in revenue. We also do our part to ensure your property receives maximum exposure and will make relevant recommendations where necessary.
For more information about lettings, please contact Francesca, our Lettings Manager, at francesca@jeffersons.uk.net or on +44 (0) 20 8369 5587.
'Where have all the quality properties gone?'
The first signs of confidence in the London property market that we saw in our last newsletter have grown substantially in the last quarter. At Jeffersons, we have had our busiest sales quarter of the year but are really having to use all of our expertise to match buyer and seller.
There is now a shortage of quality property available for sale in London which has contributed to stabilising property prices and many have predicted that we have seen the end of price falls. Indeed, prices now are still a little higher than they were in May 2009. The number of serious buyers currently outweigh the number of quality properties available. This has made it much more difficult for a buyer to find that 'perfect' property. However, more buyers have taken advantage of easier to obtain financing and serious sellers are now being tempted back to the market.
In this changing market it is more important than ever to choose the right agent to guide you through the sales process and we are confident that at Jeffersons we have the knowledge to do just that.
For more information about sales, please contact Michael, our Sales Manager, at michael@jeffersons.uk.net or on +44 (0) 20 8369 5584.
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