Tag Archives: london
UK landlords and rental agents unrealistic about wear and tear, it is suggested
Landlords and agents in the UK are still pushing for rental homes to be in a better condition when a tenant leaves and often have unrealistic expectations, new research has found. Whilst the tenant has a duty of care to return the property in the same condition at the end of the tenancy as found at the start and listed on the inventory report with allowance for wear and tear, the law does not allow landlords to claim ‘new for old’ from the tenant’s deposit. Yet the Association of Independent Inventory Clerks (AIIC) has found that many agents and landlords are seemingly unaware of the ‘betterment’ principle which means that if an item was old at check-in, and after a two year tenancy there is some additional damage, the law will not allow a landlord to simply replace this item with a new one. Instead, some sort of compensation is allowable towards future development. The betterment principle applies to cleaning issues as well. If a carpet was badly stained at the time of check-in, a landlord can’t expect the tenant to pay for cleaning at the check-out, no matter how long the tenancy has been. ‘We have seen many cases where the landlord or letting agent has not bothered to read the check-in inventory, so when it comes to the check-out, they are unrealistic over issues, which they believe should be included in the check-out and charged to the tenant,’ said Pat Barber, chair of the AIIC. She gave as an example a case where the landlord demanded that the tenants pay for repainting several rooms following a one year tenancy. The check-in inventory clearly stated that the walls were already well marked and the few additional scuffs and rubs were clearly a normal wear and tear issue due to the length of the tenancy. ‘The key underlying problem is that landlords, agents and tenants have different expectations when it comes to fair wear and tear issues. Obviously, there is a distinct difference between fair wear and tear and actual damage. For example carpet tread will flatten over time where there has been foot traffic, but cigarette burns, stains or soiling will require a charge,’ explained Barber. ‘Normal wear and tear is a fact of life with rental properties, just as it would be at home. The best way to landlords and agents can ensure that the property’s condition is fully recorded, is by having a comprehensive inventory in place at the start of any new tenancy, and that a thorough check-in and check-out report is completed,’ she pointed out. ‘Members of the AIIC are experts in assessing fair wear and tear and have the knowledge and experience to take into account all factors, and make a reasonable judgement as to whether something is fair wear and tear or not,’ she added. Continue reading
Councils in England will help self builders find land, UK govt pledges
Anyone in England who wants to build their own home should be able to turn to their local council for help to find a suitable plot of land under new plans published by the UK’s housing and planning minister. Brandon Lewis unveiled the details of a new Right to Build plan which he said will make custom build a more realistic option for more people. This comes at the same time as a government supported Private Member’s Bill on plans for a Right to Build register is being taken forward through Parliament by the MP for South Norfolk Richard Bacon. Eleven areas are already pioneering the Right to Build scheme, developing a register of prospective custom builders in the area and matching them up to shovel ready sites. The consultation seeks views from local planning authorities, the custom build sector and prospective custom builders about what they would like to see from the Right to Build. ‘Custom build should not be the preserve of a select few but a realistic opportunity for anyone who wants to build their own home and that’s why we’re supporting this Bill. Eleven areas are already leading the way on the Right to Build. And our plans for this Right across England will help more people turn their ambitions into reality and clear the way for a new generation of custom builders,’ said Lewis. He pointed out that it is just one of a range of measures to help aspiring home owners, and to get Britain building, adding that house building levels are at their highest since 2007 and rising. ‘House building is at the heart of the government’s long term economic plan, including supporting people to design and build their own homes which can often be at a lower cost than buying an existing property,’ Lewis explained. ‘This will not be a free for all and those looking to build will still need to go through the normal planning application process,’ he added. Other measures include a £150 million investment fund to support delivery of up to 10,000 serviced plots, making custom builders exempt from paying the community infrastructure levy and scaling back section 106 tariffs. The government also introduced a £30 million Custom Build Homes Fund in October 2012, which has made available repayable finance for larger multi-unit projects and grant funding for community custom builders. Continue reading
African lion starting to roar louder than the Russian bear in prime London market
The Russian bear is roaring less now in the prime London property market as the African lion takes over with rich Africans spending over £600 million on real estate over the last three years. New research suggests that wealthy buyers from just six countries; Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal, are snapping up luxury property in the city. Nigerians are the top buyers in London spending over £250 million and buyers from Africa favour key addresses in Mayfair, Belgravia and Knightsbridge. Overall African oligarchs now account for 5% of all ultra prime residential sales by value, up from 2% 24 months ago, according to the data from top end agents Beauchamp Estates. The top 10% of buyers are spending £30 million upwards on homes while 80% spend £15 million to £25 million on London property and they prefer newly built or newly refurbished properties, the research also shows. They also want a property with parking as trophy cars are a passion amongst wealthy families. They are also renting luxury homes and will spend £10,000 to £15,000 per week on a top London property but tent to seek short term lets of six weeks to three months. There are 15 key addresses favoured by African buyers: Eaton Square, Belgravia, Holland Park, Kensington, Addison Road, Kensington, Charles Street, Mayfair, Grosvenor Square, Mayfair, The Bishops Avenue, Hampstead, Winnington Road, Hampstead, Regents Park (mansions), Compton Avenue, Highgate, Templewood Avenue, Hampstead, Avenue Road, St Johns Wood, Campden Hill Road, Kensington, Kensington Palace Gardens, Kensington, One Hyde Park, 100 Knightsbridge and The Knightsbridge Apartments, Knightsbridge. Prime London residential property is seen as a good, safe, secure and stable investment by wealthy buyers Africa but there are also historic cultural and community ties. There is a 70,000 strong Nigerian community living in London, Ghana has a 56,000 strong community in the capital, whilst the Gabonese London community consists of some 3,000 people. Wealthy Africans are also keen to send their children to top schools in and around London such as King’s School Canterbury, Wycombe Abbey, Cheltenham Ladies College, Eton, Harrow and Bradfield. The Nigerian Embassy in London has estimated that Nigerian nationals now spend over £300 million per annum on fees, study equipment, tutoring and accommodation at British schools and university. ‘It is going to be the African century and these six countries are the standard bearers in the London property market. Continental African buyers or luxury tenants in London are currently where the Russians and Ukrainians were five years ago,’ said Gary Hersham, director at Beauchamp Estates. ‘They have the resources and desire to purchase or rental luxury homes in prime central London, but they have less knowledge of the best properties and addresses and seek our local knowledge and insider advice on where to buy and what makes a good investment. At present virtually all the transactions are for end use, not rental investment, which indicates that the African buyer market in London has significant room for growth… Continue reading
