Real Estate

Unless you’re an experienced renter, moving can actually get you in a spot of bother unless you follow the correct protocol. A wrong move can result in unexpected fees, fines and even a driving penalty. Here’s our checklist to help you avoid the worst when moving out of a rental flat.

Photo source: https://bit.ly/2IGxL8P

Inform the right people

There is a long list of institutions to tell that you’re moving, including your employer, your bank, your credit card providers, utility providers and the council.

And then there’s the DVLA, which can often be the forgetful one. Whilst you’re not changing cars, you are changing address, so if you get an unfortunate driving offence, the DVLA will write to your old address and if they don’t get receive a timely response, it can get bad quickly.

Change your postal address

It may be worth investing in the mail redirection service from Royal Mail – charges begin from £33.99 for three months and it takes just 5 days to organise. You can apply online or at your local post office from 3 months before to 6 months after you move.

Don’t forget to clean

According to the Deposit Protection Scheme (DPS), poor cleaning makes up over half the deductions from tenants’ deposits.

The best way to avoid this from happening is to pay for a good end-of-tenancy clean. This may even be a requirement in your contract so be sure to double check.

And when they’ve finished, take plenty of clear photos of their work so if issues do arise, it’ll be easier to dispute it with the cleaning company instead of letting it affect your deposit. If you can, send the same photos to your landlord. Remember that your aim is to return the flat how you found it.

Worried about being charged for pre-existing issues? Resend your check-in photos to your landlord to remind them of the properties condition when you first moved in.

Know about wear and tear

Landlords aren’t allowed to subtract money for ‘reasonable wear and tear’. Examples include worn carpeting, loose wallpaper and faded curtains or drapes.

Also, if you’ve lived in a property for several years, the landlord should expect the property to be more worn than one that’s been occupied for a short period of time (six months and under).

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60 Leytonstone Road is a brand new luxury development of stunningly stylish apartments set in the ever growingly popular setting of Stratford City; providing excellent transport links with Maryland and Stratford part of the Cross rail line opening in late 2018. With stunning city views of London.

Stratford is London’s fastest growing business and leisure district, and a major contributor to the capital’s economic growth, with 125,000 jobs forecast to be created in East London by 2030.

60 Leytonstone Road occupies a prominent corner position fronting Leytonstone Road to the West and Buxton Road to the North, with a small car park located to the East of the property.

Influenced by the creativity, the history and the magic that resonate throughout the neighbouring streets, 60 Leytonstone Road is a new landmark for this cherished heart of London that continues to stimulate and surprise. A spectacular collection of luxurious and limited edition apartments, each with a unique and exceptional design.

The layout of each residence has been individually crafted. Each apartment is finished with a number of fabulous features, such as generous balconies, open plan living spaces and exceptional detailing throughout. Rarely does one find such magnificent living space in the very heart of one of London’s most popular and historical neighborhoods.

The immediate surroundings comprise a mix of both residential and commercial uses, with a number of shops and amenities available on Leytonstone Road. Westfield Stratford shopping centre is located approximately 1.1 miles from the property; the nearest station is Maryland which provides regular services to Central London.

Maryland Station will also operate Cross rail/Elizabeth Line services with Heathrow only 45 minutes away, the West End 17 minutes and Canary Wharf only ten minutes away. Morrison’s, Sainsbury’s and Waitrose are only moments away, making your shopping experience a lot shorter. Close to the property is also Stratford shopping Centre and Westfield Stratford City to enjoy them shop till you drop days. There are a variety of restaurants, cafes and pubs in the area so you are constantly spoilt for choice!

There are three OFSTED rated “good” or “outstanding” schools within 400 metres.

Whether relaxing or entertaining, these spectacular apartments beautifully combine convenience with elegance. This heightened sense of comfort continues where you can unwind, entertain or just watch the world go by.

Set against a backdrop of beautiful neutral colour choices enhanced by integral mood lighting, these apartments have perfectly combined the use of some of the finest materials; creating the perfect blend of public and private spaces rich in luxurious ambiance.

Relax from the outside world in lustrous bedrooms with bespoke fitted wardrobes where there is plenty of storage for your belongings. All bedrooms are fitted with luxury ‘soft touch’ carpets. Also benefits from T.V outlets and Virgin, Sky and BT Broadband outlets to the living room.

This apartment has various benefits like Bicycle storage, lifts to all floors. The video entry system will allow your guests to enter the building at the buzz of a button, ensuring that any unwanted visitors stay on the outside.

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We’re always trying to find the best tips for raising the value of a home. And if beauty is in the details, there is more that one thing to consider when talking about the bathroom…

Photo source: Futurist Architecture https://bit.ly/2wZnAXw

Considering you’re a homeowner trying to renovate the home before selling it, would you keep the tub or would you change it with a shower? If you’re thinking of simply answering ‘The next owner will figure out what it wants!’ you might be loosing some money while answering.

Most home-buyers are looking to find the perfect home throughout. It should fit their wishes from the key to the… bathtub or shower! So keep in mind the buyer when redecorating.

Now, to ease a bit the process of making up your mind, here are the principles before choosing between a tub and a walk-in shower:

  • usually families use a tub. Children need a tub if only for their rubber duckies if not anything else. 🙂
  • young and active homeowners prefer a shower ‘on the go’, before going out.

If you know who you are targeting, it should be really simple. Your 3-bedroom home with only one bathroom is, most probably, going to be bought by a family. Your studio apartment close to the station will be preferred by a first time buyer.

Photo source: Homestratosphere https://bit.ly/2x2JN70

More info about the types of bathrooms preferred by different targets of people in this insightful article on Elle Decor.

And talking about redecorating a bathroom, we gathered some ideas for either or a tub-bathroom, or a walk-in shower:

81 Wonderful Bathtub Ideas with Modern Design

280 Master Bathrooms with Walk-In Showers for 2018

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Understanding the difference…

Photo source: https://bit.ly/2Go4PME

When searching for the ideal property to buy, aspiring homeowners may be faced with a choice: leasehold vs. freehold. What are the differences?

 

 

Leasehold vs. freehold: the basics

The main difference between leasehold and freehold is that if you buy a leasehold property, you own the property but not the land it stands on. With a freehold property, you own both the building and the land.

In England and Wales, the majority of flats are leasehold, while houses are usually sold as freehold properties.

 

Buying a leasehold property

With leasehold properties, the land the building stands on is owned by a landlord, also known as the freeholder.

You will own the property for the length of a lease agreement with the freeholder. After the lease expires, ownership of the property will revert back to the freeholder.

You’ll pay ground rent to the freeholder, although this usually won’t be very much. The freeholder will also be responsible for maintaining and running the building, so you can expect to pay a service charge to contribute to the cost of this.

 

 

Buying a freehold property

When you buy a freehold property, you’ll own the dwelling and the land it stands on outright.

There will be no time limit on your ownership, so you won’t have to worry about a lease running out.

You’ll be responsible for maintaining the building and any related costs, but this will mean you’ll be free to do whatever you like to the property (subject to planning permission).

 

Leasehold vs. freehold: a summary

Buying a home is an exciting step, but it is very important to understand any impending issues surrounding property ownership.

When it comes to leasehold vs. freehold, the main difference is that as a freeholder you’ll own your property outright from the get go, while as a leaseholder your ownership will be limited to a set length of time.

If you want to know more about buying a home, get in touch with our team today; we are more than happy to help!

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Landlords have been the target of some serious new taxes and regulations. Although these are worrying for some, these measurements are not an end of the rope for most.

For those of you considering investing in properties, keep in mind this:

long-term investments will surely bring you a good profit. New research showed that investing in buy-to-let, but not on an amateur level, will bring the landlord a stable and consistent source of revenue.

More details and a good case analysis in this article on Property Reporter:

How much could an average long term property investment earn you?

If you’re thinking about investing in a buy-to-let here are our property recommendations from the Victor Michael website:

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Photo source: ARLA https://bit.ly/2HOCYH5

The Tenant Fees Bill can soon be a reality for tenants in England. The Government also answered upon the HCLG Select Committee report on the draft Tenant Fees Bill.

The main changes the Tenant Fees Bill can be read here. The most important provisions in the document that are to affect tenants (and landlords) are:

  • Maximum security deposits: six weeks’ rent.
  • The upper limit for holding deposits can be of no more than one week’s rent.
  • The landlords can charge more than £50 for sharer charges only after they prove that the costs were greater than the amount mentioned.
  • Landlords will not be able to issue a Section 21 notice until they have repaid any unlawfully charged fees.
  • Letting agent transparency requirements will be included in The Consumer Rights Act 2015. This will also be applied to websites and portals that do lettings.

Moreover, the Trading Standards should help tenants to recover unlawfully charged fees via the First-tier Tribunal.

To sum up, there are only some limited extra-charges a landlord or an agent can charge the tenant with:

  • a change or early termination of a tenancy when requested by the tenant
  • utilities, communication services and Council Tax
  • payments arising from a default by the tenant such as replacing lost key

What is your opinion upon the bill? Does it help enough tenants? Are landlords and agents too restricted?

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Photo source: https://bit.ly/2HBT7iT

Moving house can be a long and tedious process, but the day that you finally wake up and realise you’re moving into a new property can be incredibly exciting. A new house comes with new adventures, new possibilities and a new place to put down roots, but depending on your situation it can be weeks or months after buying a property before you finally get to move in.

 

Moving day can be quite complicated, and there is a lot to get done. Delays can only add to any potential stress, so it is important to make sure your move goes as smoothly as possible. Here are some tips to avoid any moving house delays:

 

Communication

 

You will speak to many different people while moving house, including estate agents, solicitors. surveyors, removal companies, and more. Filling out any paperwork quickly and replying to any enquiries can really speed up the process of moving.

 

Make sure you have copies of your ID, bank statements and any planning permission needed throughout the process, so you can be ready to hand anything over when needed. Keeping everyone updated throughout your move means any problems or concerns should be quickly fixed and the whole move should go smoothly.

 

Book in Advance

 

Ideally you should start arranging a removals van around four weeks before your moving day. Contact three or four companies and get a consultation with each. They will all provide you with quotes and you can decide which one works best for you.

 

Once you have that booked you can make any other arrangements you need, such as parking. If you are moving to a house that only has road-side parking, you will have to give notice to anyone it may affect, and let them know a removals van will be parking up for a few hours.

 

Avoid Exchanging and Completing on the Same Day

 

Although it may seem like an obvious option and a good thing to do, exchanging and completing on the same day can actually cause problems if you are part of a chain – it only takes one person to be unable to complete for the whole chain to break.

 

Try and leave a week or two between exchanging and completing, as this should give you enough time to resolve any potential complications that could come up. It’s good to have a bit of breathing space when moving house, as you never know what might happen.

 

Packing Preparation

 

One of the key things that will prevent delays on moving day is to have everything packed up and organised. The last thing you want is to be rushing around packing up some last minute items when you have a hundred other things to think about.

 

Start a month or so before you move, and keep everything as orderly as possible. Chuck out any clutter or take it to a charity shop, and pack a few boxes each night, carefully labelling them and wrapping anything delicate in bubble wrap. Having everything packed and ready to go will be a huge time saver when you get round to moving.

 

Arrange Child/Pet Care

 

Even though they are moving with you, children and pets can be quite distracting on moving day, and it can be quite an unsafe environment for them to be in with heavy boxes being carried back and forth to your new home.

Try and arrange for someone to look after them while you move, as this will allow you to concentrate fully on the task at hand and allow them to move into a new house afterwards with all their belongings in place. If you have older children you can find age appropriate tasks to enable them to help out with the move.

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Animal lovers change habits on the lettings market. Since this is a growing characteristic of tenants that choose long-term solutions, landlords are starting to be more flexible.

Latest study suggest that ‘Lets with Pets are the Homes of the Future’, how Property Reporter puts it.

And it’s easy to see why people are more considerate and loving towards animals. Any animal lover/ owner knows the first-hand benefit of pets: lowering the stress level. Dogs, cats, or fish – name your animal friend, have the power to make us feel more relaxed after work. Knowing we’ll find them at home when we arrive, practically makes the home more welcoming.

If your landlord doesn’t want to be as flexible as the new-age landlords you have two solutions:

  1. Choose one that allows pets.
  2. Try to make him change his mind.

You can start with the argument above, and find more inspiration to be persuasive in the following article:

How to Convince Your Landlord to Allow Pets

Are you an animal owner? How did you convince your landlords to rent their houses?

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Renting will cut your monthly income by a almost a quarter. Taking that into consideration, it is only natural to choose wisely when it comes to places to rent. However, a recent study found that there are some common interests between London renters.

Major concerns and interests for renters:

-> saving money: discounts and offers that help saving money daily.

-> the rising cost of living.

-> saving money on transport costs.

Despite all the eagerness to save money, 74% of renters questioned would pay a higher rent if this means saving money on daily necessities (groceries, household bills, and transport).

For more insights, read the entire article on Property Reporter.

Where do you find yourself? A big spender or a cautious cost planner?

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Awards for the Victor Michael team at the 2018 ESTAS

Last night was a very important night for Victor Michael. The team at Victor Michael was awarded two gold awards at the Estate Agent of the Year Awards (ESTAS) 2018.

The two gold prizes received by Victor Michael were for:

  • Best Estate Agents Group in London
  • Best Agent in London East

The ESTAS awards 2018 happened under the tagline “Because Service Matters” and it highlighted regional and nationally services like real estate agents, brokers, conveyancers, home-builders for the excellent standard of customer service they deliver throughout the year.

You can watch the moment of the announcement of the Gold Winner on our Facebook page.

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