We've Moved!

At last we have a new office on the historic High Street. We are now based at 18 High Street - almost opposite Cafe Nero (not such a good thing!) The move should substantially increase 'passing traffic' and will certainly make us easier to find

The tightening credit squeeze

A recent survey by AXA found that 13% of tenants have gone into arrears with their rent in the past 12 months, and over half of these have done so in the past 3 months. That is why rent guarantee insurance is even more important in today's market; it is specifically designed to take the risk out of renting for landlords. And, if you let your property through Chamberlain Ltd it's absolutely free for the initial term of the tenancy!*

The hidden cost of being a 'Let Only landlord

A survey from property lettings website ezylet.co.uk has revealed that, on average, landlords are called out to four property maintenance incidents per property, per year. In extreme cases this number can rise to be as high as 20 - meaning landlords must be prepared to devote significant time and effort into managing and maintaining their properties.

The report, 'Challenges for the Great British Landlord' suggests that a typical residential letting property takes up to 72 working hours per year, or 9 full '8 hour' working days of the landlord's time. With the average landlord owning and managing five properties, this means almost a full day is needed to be given over to property management every week of the year. For new investors this can come as a real shock. It seems good Agents are worth their weight in gold. Based on an average rent of £800 per month 72 hours work over the course of a year works out as £13.88 per hour!

Energy Performance Certificates and the Private Rented Sector

From 1st October 2008, all buildings, whether residential, commercial or industrial, will be required to have an Energy Performance Certificate (EPC) that is no more than 10 years old, for every occassion when they are bought, sold or RENTED. It will be illegal to advertise a property to rent unless it has a valid EPC which must include cost effective recommendations to improve the energy performance of the property. The fine for non-compliance will be £200!

Tenancy Deposit Protection Law….calling all landlords

On 6th April 07 (typically daft Government ‘thinking’ – a law becoming effective on Good Friday!) it became mandatory that anyone taking a deposit on an Assured Shorthold Tenancy (AST) must either protect the deposit in one of 2 insurance based schemes or hand the money over to the Governments’ own Custodial Scheme.The penalties for non-compliance are:
1. the use of the ‘fast track’ possession procedure (Section 21 Notice) is prohibited; 2. a fine equal to 3 times the original deposit.
Not sure now how to deal with this? Pop in or give us a call, we offer free advice and a low cost solution.

Tenancy Deposit Protection Law…. Calling all ‘sharers’

Did you know that if you are planning to share a house together, you will have to choose one person from amongst you - called the Lead Tenant - to deal with return of your deposit? Possibly not an enviable task for the nominated person so make sure you work together to guarantee the ‘Check-Out’ goes smoothly. Oh, and confirm that the Agent you are planning to rent through has an independent Inventory made and uses an independent Clerk to do the check out. (We do!)

* Conditions apply

© Chamberlain Ltd
Registered in England | Registered Office:
c/o Griffith Williams & Co. 36 High Street, Pwllheli. Gwynedd LL53 5RT
Company Number: 04597727 | VAT Registration: 725148147