News from Peter Martin (London) Ltd

Below is our latest news

Garden vs Parking

Property extensions are very commonplace in London as owners try to utilise their land with vertical expansion adding an extra storey, side and rear extensions giving space to kitchens or conservatories. One space can be overlooked, the front of the house where a nice garden can be changed into a property value increasing parking space!

Written by: Toby dawson

London Tenant Interest Increase

The upward turn that London landlords have been waiting for, reports for an increase of 17% in interested tenants in April compared with January 2021. While we all love hearing great news in the London lettings market it is good to understand why it is happening.

Written by: Toby Dawson

Queens Speech May 11th

On the 11st of May the Queen will open parliament in which she is expected to confirm in the Queen’s Speech a number of bills covering Police, Courts, Crime, Armed Forces & the environment. Many are expecting during the speech, the confirmation of the Renters Reform Bill which was announced in the Queens previous speech in December 2019. This will be the first time there are visible details to be debated in the House of Commons and the lettings industry to understand what is to come in the post section 21 vacuum.

Written by: Toby Dawson

Pets in Home

The Housing Secretary Robert Jenrick MP called on landlords back on the 4th of January 2020 to enable responsible tenants to have well behaved pets, now with a 84% spike in dog ownership it makes roughly 44% of UK households home to pets. But do Landlords really want pets?

Written by: Toby Dawson

Government Helps Pay Rent

The future of the post Covid rental industry has become a serious topic after the all-party Housing Communities and Local Government Committee has released a 53 page report.

Written by: Toby Dawson

Summer Eviction?

Landlords currently have to give tenants 6 months notice for a section 21 eviction with a few exceptions to the waiting period. The primary issue for forward movement is the eviction ban which is constantly extended and is now due to end on the 31st of May, but considering the consistent extensions it is challenging for anyone to plan around that date.

Written by: Toby Dawson

Budget Announcement Extends Furlough & Stamp Duty

On 3rd of March the Chancellor of the Exchequer, Rishi Sunak released his 2021 budget which will heavily change the direction of the housing market in England.

Written by: Toby Dawson

Client Money Protection

The Client Money Protection Scheme was brought into effect in March 2019, making it compulsory for all agents to belong to a government approved CMP scheme. One of the primary campaigners for the legislation, the Association of Residential Lettings Agents (ARLA) estimated that £2.7 Billion pounds was held with as much as £700,000 not being protected.

Written by: Toby Dawson

London Exodus

London Exodus

Attention has turned over the last month to the population drop of London which has reduced for the first time since 1988. ESCoE estimations put the number at 1.3 million people leaving during the period of the coronavirus pandemic.

Written by: Toby Dawson

Tenant Loan Scheme

When it comes to tenant debt the English government has been debating while Wales and Scotland have been implementing

Written by: Toby Dawson

Featured Properties

Fees

TENANT FEES - NEW ASSURED SHORTHOLD TENANCIES (AST's) SIGNED ON OR AFTER 1 JUNE 2019

Holding Deposit - One week's rent, apportioned to first month's rent

Security Deposit - Five weeks rent if rent per annum below £50,000, six weeks rent if above £50,000

Unpaid Rent - Interest at 3% above the Bank of England Base Rate. Interest will not be applied until the rent is 14 days in arrears.

Lost Keys -  Tenants are liable for the cost of replacing any lost keys and/or security device including the costs of replacing any locks and/or security device if required. 

Changes to the tenancy agreement (Tenant's Request) - £50 inc. VAT (or reasonable costs if higher). 

Early Surrender of tenancy (Tenant's Request) - Should a tenant require an early surrender of their tenancy and should the landlord agree, the tenant will remain liable for the rent due under the tenancy until the date a new tenant takes up occupation of the property. The tenant will be required to cover the landlord's costs in connection with the  surrender of the tenancy and the re-letting the property