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01276 64881 Luff Associates |
News
Welcome to our improved News section. This will be updated every month with details on market conditions, rental guidelines, legislation updates, and various statistics based on our business throughout the month. If there is anything you would like to see in this section, please send us an email or call 01276 64881, and we will try to incorporate any suggestions put forward.
Luff Associates would like to wish everyone a very Happy New Year!
Despite history showing that Christmas is a very quiet time for the property market, Lettings boomed throughout the whole of December 2008 and has continued along the same trend into January 2009.
With the economy still struggling, more and more people are deciding to rent instead of buying, with the majority of these looking to rent long term. This is excellent news for landlords as it shows the market is still very bouyant.
We had 41 properties go under offer in December 2008 and over 200 new applicants registered their details. These figures show that Luff Associates and Lettings are still very busy.
If you have a home to let, or perhaps you are trying to sell your home and things aren't moving as quick as you would like, we offer a non pressured and free discussion at your home, our office or even over the telephone. If you are interested, please do not hesitate to call Jon Pepper on 01276 64881 or click here to send an email.
Luff Associates 15th Anniversary is a success!
CLICK HERE TO VIEW PHOTOS OF THE EVENING
Luff Associates' 15th Anniversary on the 27th November 2008 proved to be a huge success. We were joined by nearly 130 people to help celebrate our milestone event, and benefitted from the knowledge and experience of our Guest Speakers.
We were delighted to have the following people speak:
Ian Potter - Operations Director for ARLA (Association of Residential Letting Agents)
John Socha - Vice Chairman of the National Landlords Association
Paul Yarrow - From the property portal Propertyfinder.com
Mark Evans - From PG Inventory Services
Jerry Abraham - Director of ThermaDetect on Energy Performance Certificates
Mark Wilson - From 360 Mortgages
We were also proud to have the Mayor and the Deputy Mayor join us in this fantastic event.
Luff Associates would like to formally thank everyone who joined us to celebrate our Anniversary and if we can ever be of service to you in the future, please do not hesitate to contact us on 01276 64881, or click here to send us an email.
Rental Market Exceeds Expectations
October proved an amazing month for Luff Associates. We had 65 properties go under offer throughout the month, making over 120 people very happy! It is showing no signs of slowing down as we approach Christmas, and if anything, it is getting busier.
Despite this, there are more and more properties becoming available to rent due to the slowdown in the sales market. This has pushed the supply/demand ratio into the favour of tenants in some aspects of the market. All this means is that prices are having to remain competitive to ensure a consistent tenancy. The days of prices rising from the beginning of this year appear to be finishing.
For further details, or for a free, no obligation discussion, please telephone us on 01276 64881 and we would be delighted to help in any way.
EPC ALERT!
From the 1st October 2008, all rental properties must have an Energy Performance Certificate in place. This is only for new properties and re-available properties that have a tenant moving in after this date. If there is already a tenant in residence before this date, then it will not be required until that tenant moves out.
Please click here to find out more.
September was an incredible month for us with 42 tenants moving into their new property. However, we have seen a drastic drop in some rental prices as more and more properties come onto the market that aren't able to sell. Competition is now high and some landlords are having to remain realistic to attract tenants.
Despite this, the market is still extremely bouyant with a huge number of prospective tenants registering their details. If you are having trouble letting or even selling your property, please call Luff Associates on 01276 64881.
We are proud to announce it is our 15th Anniversary this year, and to celebrate, we are holding a special event in honour of this.
On the 27th November 2008, we would like to cordially invite prospective landlords to join us at the Frimley Hall Hotel from 6.30pm onwards, to gain an insight in what it is to become an investment landlord.
The evening will be made up of a series of short talks from Ian Potter of ARLA on the world of lettings, Paul Yarrow from Propertyfinder.com, Mark Wilson from 360 Mortgages on buy to let mortgages, Jerry Abraham of ThermaDetect on the newly required EPC reports and what purpose they serve, The Mayor and the local press, to name but a few.
There will also be prize draws being held throughout the evening including the top prize of an HD ready Flat Screen Television, as well as food and drink being provided.
If you would like to join us in this special event, please call us asap on 01276 64881 to book your space, as places are limited. Every prospective landlord present at the event will automatically be entered into the prize draw.
August saw a huge increase in properties becoming available, which has led to properties having to take lower offers in order to compete. Although the number of prospective tenants has tripled over the last few months, supply/demand ratio has generally gone back in the favour of the tenant due to more choice.
The number of properties letting is still going up, but prices must be kept realistic in order to remain competitive.
• Average number of properties available in August was 98, with 65 properties coming onto the market.
The market has continued to soar over the last 4 weeks with more and more rental properties coming onto the market. The majority of these are houses and apartments that have been unfortunately hit by the downturn in property sales. This has meant that tenants are starting to have more and more choice.
• 68 Properties came onto the books in July with the average number of available properties reaching approximately 80.
The credit crisis is hitting everyone, and tenants budgets have started to come down slightly. However, properties are still renting very quickly and regularly, proving that letting a property is the right thing to do.
Like May, June has been a fantastic month for Luff Associates and the Lettings Market is showing no signs of slowing.
• 55 new properties came onto the market in June, and our average available number of properties came to 64, which is a 110% increase from March/April 2008.
• 45 new tenants happily moved into a property in June which is a 40% increase on this time last year, with 96% of available properties being let within 10 days of being marketed.
The credit crisis has hit the property industry hard, and huge numbers of people are turning to the rental market for various reasons. This means that properties are being let faster than any time in the last decade, and this has caused prices to rise. More and more tenants are seeking Letting Agents who belong to ARLA (Association of Residential Letting Agents), as well as a reputable Tenancy Deposit Scheme. Luff Associates belong to both ARLA and the TDS (Tenancy Deposit Scheme), which is run by The Dispute Service. This ensures tenants feel relaxed when using us to rent a property due to the strict guidelines we must adhere to.
Call us today on 01276 64881 for a free, no obligation discussion.
The month of May has taken the Letting Industry by storm with more and more people seeking the rental route as selling homes has been getting harder and harder. The search for good quality agents is high with 95% of prospective landlords looking for ARLA registered Letting Agents.
This continues to keep Luff Associates at the forefront of the market; as we are not only governed by ARLA, but we are in our 15th year of business and going stronger than ever. There are very few Independent Letting Agents in the UK that can make that claim. This is down to the high quality of service we provide tenants and landlords alike - we even have previous tenants coming back to us when they become landlords themselves!
• 69 new and re-available properties came onto the market during the month of May.
• 42 new tenants were moved into properties, with 92% of properties being let within 10 days of being marketed.
• 95% of New Instructions in May came from recommendations.
If you would like to be part of the Luff Associates success story, why not give us a call on 01276 64881 for a free discussion without any obligation to use our services, or send us an email by clicking here.