Victor Michael

Photo source: http://bit.ly/2uLUKZ5

New studies show that 82% of property buyers are willing to pay more for a green house. Energy saving improvements can make a substantial difference in the price of the house.

Buyers in the UK would pay more for an environmentally friendly home

Environmental friendliness and sustainability can be targets for anyone thinking a make over of their property. Moreover, as British architect George Clarke puts it, people need to see in their pockets and implement in their home. He actually gave a few tips to The Telegraph from which anyone can get inspired.

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Photo source: http://bit.ly/2w9W8Et

24 June / 31 Oct – RIDE THE SLIDE AT THE ARCELORMITTAL ORBIT.

178m of slide. Ride the world’s tallest and longest tunnel ride.

 

15 Apr / 30 Sept – ABSEILING AT THE ARCELORMITTAL ORBIT.

The U.K’s highest freefall abseil on the U.K’s tallest structure measuring 262 ft.

 

 

 

21July / 2 Sept – BEACH EAST.

25 Rides and attractions. A beach bar. Live entertainment. Beach volleyball. Kids paddling pool.

 

24 July / 3 Sept – ULTIMATE AQUA SPLASH.

UK’s largest indoor inflatable aquatic experience.

 

1 – 31 Aug – ACTIVE AUGUST.

Throughout everyday in August, a variety of activities will take place across the park.

 

19 / 20 Aug – ELROW TOWN.

A festival of surprise complete with a town square, markets, cafes and a bar. The park will become a vibrant festival for 2 days.

 

19 Aug – BASKETBALL.

Great Britain vs. Greece

 

26 Aug – LIVING ART FESTIVAL.

Celebrate arts and culture in the community with a whole day of fun across the North Park.

 

28 Aug – EAST LONDON WATERWAYS.

Join the celebrations for the restoration of the August Bank Holiday Weekend.

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Photo source: Property Reporter

Downsizing on the property market is actually the opposite of climbing on the property ladder. Reducing the size of your home should come as a natural resolution when the house you own is too big for your necessities or too expensive for you.

However, the decision of changing homes can come very difficult, especially within people of a certain age. A recent study showed that most retirees that should downsize choose not to because of a series of reason, the most important being the emotional factor.

Reasons why downsizing is a difficult decision to make:

  • emotional ties like memories created in their family home;
  • not finding the right new property to move in;
  • high moving costs;
  • the high stamp duty that should be paid.

Despite this, advisers and consultants should be prepared and recommend solutions to those who face a hard time choosing to downsize. As the article on Property Reporter mentions, equity release is a solution and should be carefully offered to some of the clients.

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It has been 10 years already since the Electronic Performance Certificate (EPC) is used on the property market as an energy indicator for homes.

Basically, you can find out 3 things from an EPC:

  • a grade for the efficiency of the property (A being the most efficient, and G being the least);
  • suggestions for improving the property’s efficiency;
  • an indication to what rating the property has the potential to achieve based on the suggested improvements.

A complete article upon the EPC and ways to improve your rating can be found at the following link.

April 2018 will bring a new ‘Minimum Energy Efficient Standards’ (MEES). The new legislation will affect landlords which will no longer be able to grant a new tenancy of the property with an Energy Performance Certificate with a rating below an E. This measure actually prepares for a more rough legislation: from April 2020 all rented properties must have an efficiency rating of E or better.

However, the real news is that once with the 10th birthday of the EPC the previous certificates (that date back more that 10 years) are invalid and will not be taken into consideration anymore.

 

Source of the article and photo.

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There have been cases where people have bough leasehold properties on leasehold land, leaving themselves wide open to pay sometimes eye watering rates. While some charges start off reasonable, they very often increase sharply.

There have also been cases where the land beneath the leasehold property has been sold on, with the new contractor then imposing new rules and rates.

Source: Wikimedia.org/ labeled for re-use

Either way, homeowners face huge charges and are unlikely to be able to onward sell their properties for a decent price.

 

Four things you should be able to tell clients about when selling leasehold properties:

 

Ground rent. Usually paid annually to the landlord and may rise over time. How much is it, and what are the terms? i.e. Does it double every year or follow inflation? These costs can quickly spiral out of control.

Service charge. How much is it and what does it cover?

Reserve fund. This is a sum that leaseholders pay to a managing agent for works that may have to be addressed in the future. Is there one, and has it built up? This can be presented as a benefit to a buyer, as potential future repairs may already be covered.

Length of lease remaining. Very often, an add will advertise the lease length as it was at the very beginning of the properties life span. So, this may say 999 years’ lease. Even though only 100 years remain. If the remaining lese length is 85 years or less, be aware. Many lenders will not lend on less than 80 years. The cost of extending a lease after that time also increases dramatically.

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How close are you to the point of reaching that much dreamed moment of buying your own place? If you’re already at the point of searching for a property, it’s time to wake up!

Source: Wikipedia, labeled for reuse

Deciding that you need a home of your own and getting to the point of eventually searching for the right place for you can be quite a long road to walk. You know exactly how your house looks in your dreams, but finding it on the market is a real challenge.

Not necessarily wanting to shatter your dreams, here are some advice you might want to follow when searching for a property.

Stay on the budget. Assuming you already know your limits – how much a financial institution or the bank of ‘Mum and Dad’ can offer you, it is very important to not cross these limits in any way. The temptation is huge when you see those pictures of the perfect house just a little above your price range, but the extra cost will just lead to new extra costs. Remember that it can be just as frustrating to live in an empty house because you might not be able to buy any furniture for it.

Keep it real. Make a plan of exactly what your needs are. You might want to ask yourself from time to time:

Do I really need that enormous kitchen?

Is an extra bedroom going to be of any other use that to deposit things in it?

Will I really use the two bathrooms in this apartment?

Location, location, location. You might search for places around your working place or near your friends. Keep in mind that jobs change and people move so pick a place that has good connections and nice surroundings. Because that is exactly what you are going to be using/ seeing every day.

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A better supplied market does not seem to be the answer for forcing rental prices to go down. At least not around London. 

Latest data showed that in the second quarter of 2017 the rental offer increased by 7% in the areas around London. At the same time, the average rent per month reached £790 – going up by 2.8% in comparison with the previous quarter.

Supply of rental properties rises in UK, but rents still going up too

Inside London, rents dropped by 0.2%, however, with an average rent at £1,934 per month.

To get a clear view of the market, go to the Victor Michael website in the ‘Letting’ section.

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By Mahe Georgio Branch Manager – Victor Michael

I have been in the property industry for over 25 years and, believe me, a good job is hard to find, but every entrepreneur knows that a good employee is even harder to keep.

Over the years I have found it quite easy to keep employees motivated. ‘I provide them with a leader worth following and tasks worth fulfilling’! However, as time goes by, I still look for more ideas to drive my staff forward, keep them motivated and keep them performing to the best of their ability whilst enjoying it at the same time! Here are just a few things that I have tried and tested:

Use food as an incentive. Don’t underestimate the power of having some food around the office! Tell your staff that you are having a breakfast morning one day a week or month… They will be sure to come in early if food is waiting for them.

Making things interesting. Break up the day-to-day routine of the work schedule by shaking things up every now and then.

Reward your employees for hard work. Giving rewards to staff is a great way to motivate them. For example, create competitions to see who can generate the most revenue by the end of the month. I believe any contest will keep your staff motivated to produce solid work. You can reward them with either gift vouchers, tickets for sport venues, time off work or a casual dress day.

Acknowledge individual achievements. Take the time out to tell someone that they have done a great job. If truly exceptional, stand up and make an announcement to praise that person with a round of applause. (It is important to recognize employees’ individual efforts, but it is equally important for the rest of the staff not to feel left out if you are always recognizing the same few employees).

What ideas do you have that you think would motivate you or you staff? We’d love to know!

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