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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.
Just 9 days until Christmas now and upon reflection of 2009, what an unbelievable year it has been. Despite reports that the sales market picked up towards the last quarter of this year, we have not seen any impact on our business. In fact, the last three months have been the busiest of the year. Luff Associates actually increased business by almost 25% compared to 2008 which is a phenomenal result anytime, but especially during a recession. With VAT going back up to 17.5% in January 2010 and the stamp duty threshold reverting back to £125,000 at the same time, who knows what 2010 will bring! Judging by the fact we already have a large number of tenants lined up to move in during January, it looks to follow the path of 2009.
Why not become part of the Luff Associates success story and call us on 01276 64881. If you are thinking of renting a property out and wanted some advice on the procedures or even what kind of property you should be looking to invest in; or maybe you have a property that is already on the market and want to instruct a pro-active agent to find you tenants, we would be delighted to talk to you without obligation.
We would like to wish all of our clients a very Merry Christmas and a Happy and Prosperous New Year.
What a great month June was. The weather was amazing and even Wimbledon is staying on course without rain stopping play! The rental market was also on a high with 42 properties going under offer during June. Prices have remained at a good level but have not gone up, despite the demand for properties.
We did see a huge increase in feedback from tenants looking for agents belonging to ARLA. Tenants are wanting more peace of mind when it comes to dealing with agents and their deposit. We are full members of ARLA and the Tenancy Deposit Scheme so we are constantly monitored to ensure we provide the highest of standards. For more information on ARLA, click here or telephone 01276 64881.
May has continued the trend of bouyancy with another 45 properties going under offer. We also received 49 instructions during May which prove excellent results for Luff Associates. The majority of these properties that we took on were let within 10 days of going onto the market.
We are also pleased to welcome James Stone to our negotiating team. James has come to us with over 5 years experience in the property market. We are certain he will be a huge asset to our company.
April was busier than February and March together with 47 properties going under offer! There has been an even sharper increase in the number of prospective tenants looking for properties between £1500 and £3000 pcm. This is great news for landlords as there are many people who have been unable to sell that are using the rental market.
February and March were a slower months than January with 44 properties going under offer in total. That isn't as high as we expected it to be, but compared to the same time last year, it was a similar result.
The buying market is seeing more people coming back, which is having a slight impact on number of people looking to rent, but has to be expected. Despite this, there are still many prospective tenants registering their details every day so the rental market is still very bouyant.
What an incredible month January turned out to be! The lettings market was as busy as ever from the moment January came, all the way through to the end. Despite there being more buyers out there looking for deals on purchasing a property, there are more tenants than ever before.
We have also seen a huge increase in the average budget, with larger houses starting to rent much easier than the last 6 months of 2008. Prices have also come down in most areas of the market due to the volume of properties available. Landlords are having to do even more to attract tenants as there is much more competition than usual, therefore properties have to be as up to date and neutral as possible. Regular redecoration is highly recommended as it is a cost effective way of bringing a home back to life, and instantly attracts tenants.
We offer free, no obligation discussions where we can give you our professional advice on what you may need to do, or even not do to your home to get you the best rental income possible. Please telephone Jon Pepper on 01276 64881 or click here to send an email, and we will be delighted to offer our advice.
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.