Friday, 29 April 2016

Cleaning Disputes Up Almost 50% Over The Last Five Years

According to the latest data from the Tenant Deposit Scheme, cleaning continues to take the lion’s share of deposit disputes, up almost 50% over the last five years.


In fact cleaning has consistently been the commonest dispute in cases brought to the TDS and arises in around half of the cases they deal with (58%).  In 2015, the proportion of disputes involving cleaning claims climbed again and is now at its highest level since the start of the scheme.


The second most common cause of disputes is damage to property (52%), followed by redecoration (32%), gardening (17%) and rent arrears (10%).


According to Imfuna Let, landlords and agents are increasingly faced with dirty properties at the check-out stage. Jax Kneppers, Founder and CEO of Imfuna Let comments: “Many tenants fail to leave their property in the same condition at check-out and are often very surprised when they are told that professional cleaning is required.


“Some tenants claim that cleaning is just normal ‘wear & tear’. If an area or item was clean at check in, it should be left clean at check-out. The most common cleaning issues centre around stained and marked carpets; ovens – which cause the most problems; heavy lime scale to kitchen and bathroom fittings – the response of tenants is often 'it’s not my fault, this is a hard water area'; grease deposits throughout the kitchen, surfaces and cupboards may look clean, but will feel sticky to touch; thick dust & cobwebs, particularly around furniture and on the ceilings; and dirty windows that have obviously not been cleaned during the whole tenancy.


“It is so important that landlords and agents do a thorough check-in and check-out, so they have the right proof of condition at the start and end of a new tenancy agreement.  If agents and landlords wish to make deductions for cleaning costs, they need to be careful to record the cleanliness of the property in sufficient detail, at the start and end of the tenancy.


“At the check-out stage, the tenant should be made aware of the areas requiring cleaning and the potential costs involved. Landlords and agents need to ensure any charges they claim, are a fair reflection of the property’s condition at the start of the tenancy.


“We know that landlords and agents using Imfuna Let have seen a 60% drop in cleaning disputes.  We work with many landlords and agents and the majority have seen a vast improvement in the condition of their properties handed back at the end of the tenancy.  This has in turn driven down the post-tenancy cleaning bills and reduced the number of disputes over cleaning.”


Howard Lester, Director of Balgores Property Group comments: “The checkout is such an important part of the process, but is totally dependent on the quality and accuracy of the Inventory carried out at the start - not all inventories are equal!


“A detailed inventory and checkout with both words and pictures provides ultimate proof of condition, including cleanliness. Additionally, the fact that we visit tenants two weeks prior to the checkout and advise of likely deductions, has meant that we have reduced our disputes over cleanliness by over 85%.”


Imfuna Let produces a bullet-proof inventory that records property check-in condition status and can also be used for mid-term property inspections. Imfuna Let is the complete digital property inspection system automating the reporting process, reducing the overall process from property data capture to report generation by up to 75%. Imfuna Let can be used on current Apple or Android devices. Embrace the ‘Power of Digital’ in 2016 : Free Trial at  www.imfuna.co.uk

Friday, 22 April 2016

House Prices in Brentwood Up 15% Year on Year

House prices in Brentwood have risen by 15% in the first quarter of 2016, compared with the same time period in 2015, ahead of London’s average price rise of 13.5%* recorded in February 2016, according to a new report from Balgores Property Group, leading estate agents in Essex. (*Source: Land Registry House Price Index, February 2016).

The average house price in Brentwood is now standing at £481,375, following close behind London, which is sitting at £530,368, but well above the average house price value of £190,275 for England and Wales.

Paul Hayes, Director of Balgores Hayes, part of Balgores Property Group, commented: “Brentwood offers commuters a great work-life thanks to its two lovely country parks and excellent road and rail links. Located just outside the M25, Brentwood is equidistant from central London, Stansted and Southend. Liverpool Street is 40 minutes by train from Brentwood, while a faster service from Shenfield station, north of the town, takes 10 minutes off the journey time.


“Transport in the town will get a boost when Crossrail starts running in 2018. Brentwood and Shenfield are the final two stations in the north-east section, and passengers will be able to travel right into the West End without having use the Tube.

“Demand for property in the town is increasing and this is pushing up prices.  As an affluent and star-studded town, thanks to TOWIE, it is attracting East Londoners who are snapping up two and three-bed Victorian and Edwardian cottages, modern family homes and luxury apartments.

“We have recently opened a new office at Ongar, so that we can provide our award-winning service to buyers, sellers and landlords in the town and local vicinity. We bring together a unique and unparalleled dedication to complete customer service, expertise in local property and lifestyle and an exceptional approach to marketing and communication.

“Homeowners and landlords with property in Brentwood or Ongar, will be offered advertising across both offices, creating maximum exposure, within one fee.  We believe our agency will be the most effective in Ongar, for those looking to sell, or let their home.”

Launched in 2002, Balgores Property Group has quickly become established as one of the dynamic, successful and iconic estate agents in Essex and Kent, with nine offices across the two counties.

Tuesday, 19 April 2016

Huge Increase in Buyers Looking to Purchase a Property in Essex

Over the last 12 months*, Basildon has seen a huge surge in demand for property, up by 298% followed by Romford, up by 89%, Upminster up by 70% and Chelmsford up by 29%. (* Source: Balgores data - March 2015 March with February 2016).
The numbers of buyers chasing each property has also increased in parts of Essex, with Romford recording the greatest demand, with an average of 26 buyers chasing each property. Romford is also seeing record demand for its property - it is taking just six days on average for properties to be snapped up by eager buyers.
Martin Gibbon a Fellow of the National Association of Estate Agents and Group Director of Balgores Property Group commented: “Demand for property in Essex is continuing to boom and this is down to a number of factors. Without doubt, rising London house prices are driving large numbers of professional couples and families to Essex, where they can find more affordable accommodation, within just a short commute of Central London.
“Crossrail is another driver in demand, particularly for property in Brentwood, Chelmsford and Romford. In 2018, Shenfield will become the terminus of Crossrail. Trains run via Brentwood and Shenfield every 10 minutes to Liverpool Street (40 minutes) and it is just a 40-minute drive to Stansted airport.

“Many families and young professionals are attracted to Brentwood and demand for property is up by 29% year on year. The town offers plentiful green space, good schools and very low unemployment rates.
“Romford is seeing record demand for property, thanks to the excellent transport links into London, enabling commuters to reach the City within 20 minutes. Many professional couples are moving from East London, because they are priced out of the market. By relocating to Romford, commuters can save tens of thousands of pounds purchasing their home.
“The average cost of a 2-3 bedroomed house within walking distance of the train station in Romford has leapt by 63% since 2008 and is now sitting at £335,625. Basildon has recorded the largest surge in property demand over the last 12 months, up by a massive 298%. House prices have risen sharply too, up by 21% year on year, with the average home now worth £262,395. Many homeowners have been outpriced in other areas, so they have settled in Basildon.
“There has been a massive regeneration of Basildon and it offers a great choice of affordable property including older, character properties, as well as new housing developments in the area, including Acacia Park in Gloucester Park and Morello Quarter in Cherrydown East, which are attracting young families and professional couples to the town.
“Properties in Hornchurch are selling very quickly – just an average of 11 days to sell, thanks to the high number of buyers who are looking to purchase a home within a cost effective commutable distance to London. Hornchurch boasts a huge variety of different property styles and a vibrant town centre.
“People who are selling property in London are now achieving very high prices, which allows them to pay more than ever for properties in Hornchurch. This, coupled with the fact that mortgage rates are still low, means that people are now more likely to pay the asking price, or a higher price to secure their dream home. This in turn is constantly driving up property values.”

Wednesday, 6 April 2016

Never Been A Better Time To Secure A Mortgage

According to Balgores Property Group, leading estate agents in Essex, there has never been a better time to secure a mortgage, with an increasing range of products for buyers and record low costs for two and three year fixed mortgage deals.

Data from the Mortgage Advice Bureau (MAB) shows that the total number of mortgage products rose by 3% in February to 17,654 – a big leap of more than a third from the 12,940 available in February 2015. 

There is also good news on interest rates. Analysis of Moneyfacts Average Mortgage Rate data shows the average two-year fixed rate mortgage fell to 2.54% in February, down January’s 2.56%. Meanwhile the average three-year fixed rate mortgage rate fell to less than 3% for the first time, down to 2.92% from 3.01% over the same period.

Martin Gibbon a Fellow of the National Association of Estate Agents and Group Director of Balgores Property Group commented: “There is such a wide choice of low interest rate mortgages on offer for buyers and it’s just getting better and better.  Lenders are keen to lend, house prices are rising and a first rate rise won’t be for a good while yet.


“The Bank of England is unlikely to raise the base rate soon following the Monetary Policy Committee’s recent unanimous decision to keep it at 0.5% for an 84th consecutive month.  It looks like buyers will be enjoying these very low interest rates for a few more months.

“All these conditions in the housing market make it a great time to buy. Throughout the whole of Essex, properties are selling very quickly and we haven’t seen anything like this in many years. For example in Romford, 26 buyers are chasing each property on average.

“Unless buyers are in a good position to purchase a property, they will not be able to compete with those that are.  In this current market, most vendors are accepting offers from buyers who have already sold their home and are financially and legally prepared. 

“My advice to buyers is make sure they are in a good position to move with an agreed sale on their property, a mortgage agreed in principle and a conveyancer instructed.  If buyers are to secure their dream home, they must have a mortgage agreed.”