Cambridge Office Promise to Let Property FAST or Let it FREE!!!

August 5th, 2010

Martin & Co Letting Agents in Cambridge announce their new LET it FAST or LET it FREE offer for landlords.

We are so confident of our ability to let properties in Cambridge and the surrounding area, that if we don’t find you suitable tenants in just 3 weeks, we will waive our letting fee and 6 months property management charges.

You are unlikely to find a better offer from another Letting Agent in Cambridge; this is perhaps because no other agent is so confident in its ability to get the job done – fast, effectively, and with client satisfaction as its number one priority.

If you’re struggling to find tenants, want to avoid further void periods on your empty rental property, or are unimpressed by a lack of pro-activity from your current letting agent, Call Martin & Co Cambridge today and accept our challenge!

CONTACT US TODAY!

01223 275 150

cambridge@martinco.com

191 Mill Road, Cambridge, CB1 3AN

No Summer Holiday for Martin

August 5th, 2010

The children may be on their summer holidays and other folk are jetting off to soak up the sun but one place where there’s no respite is at the UK’s leading letting agent Martin & Co. The award winning business has been busier than ever, adding over 4500 properties to its managed portfolio in the last twelve months but also adding 4 new staff to its Head Office team in Bournemouth.

Martin & Co’s in-house recruitment team helped with the placements, taking its tally of staff recruited for to over 100 in the past 12 months! Kevin Davidson-Hall and Gary Winter have joined the brand along with Natasha Lear and James Leigh. Kevin will provide specialist support for Martin & Co offices in the London lettings market and is part of the brand’s plans to expand their operations in the Capital. Gary has joined as Sales Director and will work specifically on optimising enquiries through the website which is already the most visited specialist letting agent website in the UK.

Natasha has been recruited in the new role of Client Liaison Manager. Natasha will add a new dimension to the brand by offering its award winning service to national account clients for the first time. James has been appointed in the position of Marketing Assistant, which is an annual student placement, and will work alongside the Marketing Manager to continue to innovate Martin & Co’s brand reach and penetration, including its new “Student Homes” sub-brand.

On the latest recruitment drive Managing Director Ian Wilson commented “A great strength of franchising is that every single one of our local offices can tap into the expertise of a national class head office team. They don’t need to buy the services of a design agency, a webmaster, a search engine optimisation expert or any of the other specialist skills you need to succeed in the modern business world – they can access all of these through head office. We are very pleased to be adding these talented people to our roster and we look forward to accelerated growth in our group as a result”.

Record Breaking Number of Renewals for Martin & Co

June 15th, 2010

The Martin & Co network have had many reasons to celebrate over the past year, with record breaking results and their domination of the industry’s national awards. However 2010 has given some of the network’s award winning offices an additional reason to toast to the future. Ten Martin & Co offices across the UK have reaffirmed their commitment to the UK’s no.1 letting agent by renewing their franchise agreements for another 5 years.

All these offices are great examples of how a franchise business partnership can achieve outstanding results. The offices may not have to pay a fee to renew, but there are strict criteria that they must meet in order to continue to fly the Martin & Co flag. Part of the renewal process includes the franchise owners visiting and meeting the head office team, as well as having a personal meeting with Group MD Ian Wilson to discuss their business plan, and their vision for the next five years.

“Our rise to the top has been quite remarkable, particularly over the past 5 years. The foundation of our success has been the business partnership with our successful and committed franchise owners, who not only drive their own business locally but who are also vital in developing the brand as a whole. We are delighted to be renewing our partnership with all of the offices, all of whom are a credit to the brand.” commented Ian Wilson.

The offices have certainly seen a number of changes over the past 5 years. A strong brand strategy over the last five years has transformed the group. The Martin & Co website now has more visitors than any other lettings specialist’s website*! The offices have also seen the introduction of the striking Martin & Co cars, a powerful marketing tool utilised by all ten offices. The renewing franchise owners have also seen the size of the group double in the last 5 years.

The future certainly looks bright for Martin & Co and their franchise owners as they continue to invest in the brand and firmly establish themselves as the market leading letting agent in the UK.

The offices that have renewed are Bath, Belfast, Caterham, Cheltenham, Guildford, Littlehampton, Milton Keynes, Twickenham, Woking and York.

*sourced from impartial web experts Alexa.com

Landlords hit by soaring rent arrears

June 10th, 2010

A quarterly survey of 500 private landlords has shown that rental arrears have reached their highest level since the research began in 2006.

The survey, by market research agency BDRC Continental, found that in the last 12 months, 34% of landlords have had tenants who fell into rental arrears. The amount of tenant debt could reverse a slightly improved trend in buy-to-let landlords’ own debts. According to debt charity Credit Action, the number of buy-to-let landlords who are in arrears of more than 1.5% fell in the first quarter of this year.

At the end of March, the figure stood at 19,300 or 1.56% of all buy-to-let loans, compared with 20,700 (1.69% of loans) at the end of 2009. The number of buy-to-let properties taken into possession in the first quarter was 1,400, up from 1,200 repossessions in the preceding three months, but the same as a year ago. Martin & Co Letting Agents in Hinckley offer rent guarantee insurance free of charge for fully managed tenancies.

Call Steve or Lee for more information on 01455 636349

Tenant Demand ‘Set to Soar’

June 3rd, 2010

New figures revealed by the Royal Institution of Chartered Surveyors indicate that UK landlords are likely to see rental expectations increase as the supply of new properties falls for the second quarter.

The survey found that 23% of chartered surveyors reported a fall rather than a rise in the number of new landlord instructions for this period, up from 18% in the previous quarter, indicating that tenant demand could increase to unprecedented levels.

Eric Milburn, owner of Martin and Co letting agent in Staines said “Here at Martin and Co we are seeing proof that tenant demand is certainly increasing, to the point where we are constantly seeking out new properties in the surrounding areas. Demand is most certainly outweighing supply.”

“We are urgently in need of all types of property after a significant increase in tenant enquiries. We have also seen an increase in activity in the ‘Corporate let’ market and have many more corporate tenants looking for larger property than at this time last year.”

With critics pinpointing the sudden upturn in the housing market as a large factor, many accidental landlords have been tempted away from the lettings market.

First time buyers unable to get a foot on the property ladder are still a major source of increasing demand for good rental properties, causing a supply/demand imbalance which is also helping to increase rental expectations.

Capital Gains Tax and the Buy to Let Market

May 27th, 2010

By Mike White of letting agent Martin & Co in Norwich

“Moves by the Coalition to raise Capital Gains Tax could decimate the buy-to-let market, with fears of a fire sale as landlords rush to dispose of their properties before the hike”. So say the doom and gloom merchants (or perhaps the estate agency fraternity looking for new instructions).

However, it is true the new Government has announced changes to CGT. It is likely to be charged at the same rate that people pay their normal income tax – ie, 20%, 40% or 50%. It means that in most cases, CGT will be paid at 40% rather than the current 18%. The hike is likely to kick in next April, although 9at the tiem of writing) this is not clear.

Commentators in the market are claiming the steep rise would chiefly hit landlords selling buy-to-let properties and people disposing of second homes. And, allegedly, estate agents are already reporting instructions from landlords “desperate” to sell up ahead of the “huge tax hike”, and are warning new investors will stay out of the property market.

Well now, let’s put a bit of logic into the mix and see if these “grave warnings” aren’t just short term hyperbole. First though some facts:-

  • CGT has only been at the historically low rate of 18% since 6th April 2008. Prior to that it was at a variable rate of 20 or 40 % with most people paying 40% on the net gain after allowances. (Remarkably similar to what’s being proposed)
  • The Buy to Let market was at its peak between 1996 and 2006. It has been static at best and in decline at worst since the global financial meltdown first reared its ugly head in late 2006.
  • Property Investment is not (and never has been) a game played over the short term. It has always been optimised over a longer term and measuring success by the total yield achieved (i.e. both income and capital gains).
  • The fundamentals of property are the same as ever they were; namely not enough houses to go round and would be first time buyers unable to get onto the housing ladder.
  • The demand for rental property has continued to grow year on year for at least the last 15 years and given the fundamentals is likely to continue to do so.
  • The new Government is committed to tax reductions over time (but have the small matter of a £156bn deficit to deal with pro tem).

So who to believe; the short termist knee jerkers, or someone like me who thinks property investment is quite a good place to be right now. With rents rising again after a two year hiatus and mortgage rates at their lowest levels –EVER-  net income yields are good. Capital gains are not so good but will come back over time; just inflating a property price by annual RPI on a compounded basis will provide a good return. For example, the average house in Norwich costs around £160,000, take a modest inflation rate of 3%, compound it over say 15 years and your property would be valued at just under £250,000 at year 15. That’s a gain of £90,000 without taking into account any rental income over the same period! Let’s say the rent is £650 per month or £7800 per annum and bear in mind that it will go up by inflation over the period, therefore rental income alone will be somewhere in the region of £148,000 over the same timescale. So a total return of £238,000 on an investment of £160,000. That equates to a gross yield of just under 10% per annum. Where else can you get those sort of returns without putting your capital at severe risk of going up in a burst of a bubble? OK, ok, I know I’ve only talked about total yield and not net yield – yes of course there will be costs along the way and the overall net yield will be lower than stated. Equally property inflation could be a lot higher than a modest 3% (it always has been in the past). I’ve simply quoted this example to show some balance to the argument put forward by the Henny Pennys of this world.

Oh, by the way, something all these commentators have failed to mention is that all those would be sellers will incur costs of sale (mostly estate agency fees) and still need to find an alternative place to invest the proceeds which will have costs of entry!

Theres only 3 investment decisions a property investor can make; Buy, Sell or Hold. Trouble is an estate agent doesn’t make any money by advocating a decision to Hold. Trouble is a letting agent does so who on earth do you believe?

For more information, please contact Mike White at Martin & Co Letting Agents in Norwich on 01603 766860.

Give Your Property Maximum Exposure!

May 24th, 2010

Landlords are often heavily targeted by companies looking to make a quick buck out their property but how can a landlord make the right decisions when trying to get the best return on their investment? Well according to the Director of Martin & Co Leeds City, Elizabeth Richardson exposure is just one of the essential factors to maximising your return.

“We regularly speak to landlords who are fed up with being targeted by companies they’ve never heard of trying to the rip them off. However in lots of cases this can lead to the frustrated landlord rejecting all outside help and going it alone. Often we find that the landlord has then lost out overall.” comments Elizabeth.

“The problem is that landlords often can’t get their property the exposure that a specialist letting agent can. We have access to the UK’s number 1 property portal Rightmove and also to the Martin & Co website, which is the most visited UK letting agent’s website.*”

Why is exposure so important?

“The reason exposure is so important is that a property must reach the highest possible audience to ensure that the best return is achieved for the landlord. On Rightmove alone our properties were viewed nearly 80,000 times in one month, this is coverage that even the most resourceful landlord would struggle to get.” adds Elizabeth.

What’s Elizabeth’s advice?

“Reluctance to get outside help can often lead to void periods in a property with landlords picking up the bill. Saving a few pounds in the short term may seem like the appealing option but is often the more costly route to go down.”

“At the very least a landlord should speak to their local lettings specialist. We will always offer expert and impartial advice on how to get the best return on a landlord’s property, totally free and with no obligation to instruct. We recognise that a property is often more than an investment, it can be retirement funding, or even a future home for a relative and our award winning service ensures that the property is let to quality tenants – fast!” concludes Elizabeth.

*statistics from Alexa.com

Property prices in East Oxford due to change following new planning law.

May 20th, 2010

Bob Urwin, franchise owner of Martin & Co letting agents in Oxford shares his views on the recent legislation changes in the property industry:

Mandatory licences have been required in Oxford City since 2006 for certain types of HMO’s (House in Multiple Occupation) – those houses with 3 storeys or more and let to 5 or more unrelated occupants.  To date, around 600 HMO licences have been issued by Oxford City Council but this is only a small percentage of the estimated total of 5,000 HMO’s.

  • Oxford City Council intends to introduce an additional licensing scheme.  They are proposing to licence every HMO in the city within 3 years and introduce an annual licensing scheme for an estimated 4,000 HMO’s.
  • These new HMO’s will be any size of property which is let to between 3 and 6 unrelated sharers, with some exceptions.
  • From April of this year, The Town & Country Planning Act “Use of Class Order” was amended and a new class – C4 HMO – was introduced.  This now requires landlords to obtain planning permission where a material change of use has occurred.  For example, where the intention is to let a family occupied home to between 3 and 6 unrelated sharers.  One and 2 storey properties are included.
  • Oxford City Council has already stated that there are now certain parts of the city where planning permission will be refused.

During a question and answer session at a public meeting held in Oxford Town Hall on 13 May and arranged by Oxford City Council to discuss these new proposals, one East Oxford home owner suddenly found himself in a predicament.  He told the meeting he wanted to move to Dubai, where his daughter was living.  He had made arrangements, through an agent, to let out his home in Stanley Street to students for the next academic year.  A tenancy contract had been drawn up and signed ahead of the new legislation but the students were not due to move in until after Summer.  The property would now need planning permission as the use had changed from C3 (family residence) to C4 HMO.  However, because the property was in an area were already more than 25% of all housing was classed as HMO, planning officers present said they would refuse planning permission.

For further advice speak to your local Martin & Co letting agent.

Dates for your Diary: National Landlord Buy-to-Let Shows Dates Announced

May 18th, 2010

Martin & Co, the UK’s no. 1 letting agent and award winning franchise, are exhibiting at The National Landlord & Buy-to-Let shows in London (Olympia) on the 9th and 10th of September and in Birmingham (NEC) on the 17th and 18th of November.

Martin & Co had a record breaking year last year and opened a record number of new offices, expanding their UK-wide reach even further.

“We are the UK’s number one letting agent and have had great feedback from landlords when we have attended last year’s exhibitions.” comments Ian Wilson, Martin & Co’s Managing Director.

Wilson adds, “We are the leading lettings specialist in the UK and landlords looking for impartial, expert advice should come along to the show and speak to us. The last two years have been a tricky one for the property industry but with the right advice landlords have been able to get a good return on their investment, despite the recession.”

The Buy-to-Let market has struggled to expand in recent years due to the lack of availability of buy-to-let mortgages. However this year is set to see a boom in the buy-to-let market with many mortgage companies easing their strict criteria.

Landlords wishing to attend the exhibition can get free tickets from the events’ websites and with such fantastic advice on offer for free it looks like this year’s event is going to be the best one yet!

The London Olympia show

The Birmingham NEC show

Martin & Co Franchise Owner Nominated for National Award

May 18th, 2010

Business-savvy women are defying the recession, with their hard work and determination, according to the National Landlords Association (NLA), which today announced the finalists in the NLA Property Women Awards 2010.

The Awards highlight the most dedicated women in the private-rented sector, who have weathered a difficult market and continue to go above and beyond the call of duty. Judged on their property portfolio, financial success and personal achievements in the sector, the following female landlords are now down to the final three in their respective regions:

The list of finalists included Martin & Co franchise owner Nora Rojas-Sinclair. Nora runs the Fie and Kirkcaldy offices with her husband Iain.

On the announcement of the finalists Martin & Co Managing Director Ian Wilson commented “Our offices pride themselves on giving the best service and expert advice in the lettings industry. Nora and Iain are shining examples of what our franchise owners can, and do, achieve.”

The three finalists in the Scotland region are; Mhairi Noble, Nora Rojas-Sinclair and Elaine Stenson.

All of the finalists have their own remarkable stories to tell and each stands a chance of winning the biggest accolade of all: NLA Property Woman of the Year 2010, at the prestigious Awards ceremony in Central London on Thursday 24 June 2010.

For the second year running, the Awards will be hosted by Melissa Porter, the respected property entrepreneur, interior designer and television star.  Melissa has once again been “blown away” by the quality of this year’s entrants. She comments: “The calibre of entries has been amazing. All those that have been shortlisted should be extremely proud. Their determination and desire to succeed despite adversity is an inspiration to us all.”

David Salusbury, Chairman, NLA added: “We have received some outstanding nominations which is even more remarkable when you consider how turbulent the market has been. The fact that these women have still prospered is testament to their hard work and dedication.  This year’s awards promise to be the most competitive yet.”

Visit letting agent Martin & Co’s website