Author: Roland Moore
Janet Woods Becomes New President for Savills North America
NEW YORK (May 15, 2024) – Savills has promoted Janet Woods to be the new President for its North American operations. In her new role, Woods will manage key revenue-generating activities, and partner with local, regional, and North American leaders to fulfil the company’s short and long-term goals. Upon announcing the promotion, David Lipson, CEO…
Eviction Orders Soar Past 18,000 Amid Rising Homelessness Concerns
With evictions and home repossessions on the rise, many people are relying on legal aid as a last resort. The Law Society of England and Wales is calling on the UK government to broaden the availability of legal aid urgently. The latest figures from the Ministry of Justice indicate a significant increase in mortgage possession…
Rented Homes Declining: Half of Tenants Moved Out Due to Landlord’s Decision to Sell
Last year, 50% of moving tenants surveyed, said they were forced to leave their homes because their landlords decided to sell the property, indicating that a large number of rental homes are disappearing from the private market. A significant portion of the properties landlords sold, specifically 66.7%, were bought by people owning a home for…
Announcing Sale of Wilmer Place, 50 Armenian Street, Singapore for $26.5M
Wilmer Place, a property under the umbrella of Wilmer and Sons Private Limited, has recently been sold for $26.5 million, reflecting the value for its remaining 22-year tenure. The buyer is Jadeite Properties Pte Ltd, a joint venture equally shared by Coliwoo Holdings Pte. Ltd., part of the LHN Group, and Macritchie Developments Pte. Ltd.,…
Tips for Landlords: Screening Tenants Legally and Effectively
For landlords, screening tenants is key to preventing legal and financial troubles. The process is an essential part of ensuring that tenants can comply with lease terms. Today we’ll look at the best ways to screen tenants, focusing on the legal aspects that landlords need to keep in mind to safeguard their investments and nurture…
Market Appraisals Dip, Propertymark Analysis Reveals
Propertymark’s latest Housing Insight Report shows a 7% drop in the number of market appraisals in March. Additionally, there’s been a 4% rise in the number of potential buyers registering with member agencies. The report also points to a slight increase in property viewings for March 2024, which remain similar to the figures from March…
The Workings of Rental Property Management Companies
Are you curious about what rental property management companies do? They take care of advertising your property, vetting tenants, maintenance, rent collection, and financial reporting. Think of them as the ultimate caretakers for your property, allowing you to relax and not worry about the details. Imagine having someone else find good tenants, market your property,…
For Sale: Retail Spaces and Car Park in Potong Pasir
A portfolio of 11 leased-out restaurant and retail units, including well-known occupants like Springleaf Prata and Ayam Penyet President, are for sale. These units comprise a collective space of 9,537 square feet with individual units ranging from 614 to 3,724 square feet. Additionally, there’s a basement car park spanning 10,775 square feet on offer. The…
Savills Singapore Office Lease Market in Limbo with No Significant Demand Driver
Savills Research reveals that the Singapore office lease market has not seen much excitement recently, with no particular industry filling the void left by tech companies. This has led to stagnant rents, with CBD (Central Business District) Grade A office rents in Savills’s selection remaining at S$9.65 per square foot per month after eight periods…
Savills Netherlands Achieves ISAE 3402 Accreditation
The Dutch branch of Savills has earned the ISAE 3402 Type II accreditation for the seventh year in a row, confirming its commitment to strong internal controls. For the first time, the entire valuation team was subject to evaluation, expanding beyond the limited client scope of previous years. The audit process was conducted by Securance,…
Foxtons Shareholder Says Now is the Right Time for Sale
Could Foxtons, the prominent London real estate firm, be on the market soon? There’s increasing chatter in the media about Foxtons potentially being sold, with Dexters cited as one of the many interested parties. Just last week, Foxtons called on merger and acquisition experts from Rothschild to assist its current brokers – Deutsche Numis and…
European Hotel Investments to Soar in 2024, according to Savills
Spain surpassed the UK as Europe’s primary market for hotel investment in 2022, as noted by the global property advisor. The UK, however, reclaimed the top spot the following year with hotel deals amounting to €2.62 billion, just barely outdoing Spain’s €2.61 billion. There was a considerable uptick in UK hotel market activity towards the…
Cornwall Top in Holiday Rental Earnings
Last summer, property owners in Cornwall made an impressive £40,060,440 in holiday rental earnings, making it the leading area for such investment returns, according to Wealth of Geeks’ research. Despite having a local population of just over half a million, Cornwall welcomed three times that number in visitors. The going rate for accommodation was £84…
Get Ready for a Busy Housing Market in Spring with National Trading Standards’ Plans for 2024
James Munro heads the National Trading Standards Estate and Letting Agency Team. Here he shares his insights for Spring 2024’s busy housing market. Spring is often a favourite time for homebuyers and sellers, thanks to the appealing blooming scenery and longer days. This season traditionally sees a bump in real estate activity, making it an…
UK Property Insights from The Voice of the Agent Survey
The newly published Voice of the Agent Survey 2024 offers a detailed understanding of the UK property market’s present situation and potential future. The survey reflects the perspective of 841 industry professionals, a significant increase from 553 in the prior year, alongside the insights from 2,000 consumers nationwide and a variety of credible studies. Conducted…
More Buy-to-Let Investors Choose HMOs To Expand Their Investment Reach
Specialized lender Shawbrook’s statistics reveal that investors choose HMOs (houses in multiple occupancy) which constitute a growing share of buy-to-let transactions. During 2022 and 2023, HMO properties represented 27% of Shawbrook’s buy-to-let business. In 2024, they have climbed to over a third at 34%, as property owners increasingly seek variety in their investments. HMO activity…
Tips for Successful Commercial Property Management
Commercial Property Management comes with many challenges. It’s important for both experienced property managers and newbies to grasp how to handle tenant relationships, upkeep, finances, and legalities to ensure smooth operations. In this guide, we’ll explore strategies and advice to maintain your commercial property efficiently, satisfy tenants, and improve profits. Key Property Management Strategies Good…
UK Rents Expected to Rise Faster Than Wages for Three Years
Rent increases in Britain are projected to exceed wage growth. This comes after UK rents have already increased at an unprecedented rate following the Covid pandemic and as the cost of living continues to rise. The Resolution Foundation predicts that households will face additional financial strain, with average rents potentially surging by 13% over the…
Average Rent in the UK Surges by 8.3%
The property market is always a hot topic, especially for landlords whose finances are closely linked to its ups and downs. A recent report from Zoopla has highlighted a significant rise in the average rent in the UK, showing an 8.3% jump. This development is particularly important for landlords across the nation as it can…
A Landlord’s Guide to Understanding Wear and Tear in Rental Properties
If you’re a landlord, it’s important to know the difference between normal wear and tear and actual damage within your rental unit. Expect commonplace deterioration such as slight scuff marks and worn paint. Keep detailed records of any damages to help tell them apart. Stay on top of property maintenance and make sure to conduct…
Wasps: A Misunderstood Insect with Human-like Qualities
Wasps are one of my favourite insects, despite my past run-ins with them, such as tumbling into a wasp nest at the age of five. Luckily, the thick sweater my great-aunt had made saved me from a lot of stings. These creatures make an impression and provoke strong feelings, much like marmite—you either love them…
Essential Knowledge for Serviced Accommodation
Interested in becoming an Airbnb host in London? Discover crucial insider tips from property investment experts to excel as a Serviced Accommodation operator. Choosing where to stay during a visit to London can have a significant impact on the quality of the trip. Platforms like Airbnb enable travellers to explore a wide array of lodging…
A Complete Guide to Pigeon-proofing your Solar Panels
As sustainable energy becomes more popular, many people are investing in solar panels not only to meet their power needs but also to lessen their environmental impact. Solar energy can be more cost-effective than traditional electricity, despite the initial investment being quite substantial. To ensure your solar panel investment is protected, it’s important to consider…
The Government May Yield to Pressure Groups, Leading to a Watered-Down Leasehold Overhaul
The National Leasehold Campaign (NLC) has expressed its disappointment upon hearing the news that the government might scale back its efforts for leasehold reform. This concern follows a report in the Sunday Times which suggested the potential reform could reduce the value of pension funds by up to £40 billion. Last night, a spokesperson from…
Property Damage: Distinguishing Between Regular Use and Tenant-Inflicted Damage
It’s important for property maintenance to know the difference between normal wear and tear and excessive tenant property damage. Typical wear and tear is caused by everyday use and ageing, while excessive damage comes from misuse or carelessness. For instance, naturally faded paint is to be expected, but holes in walls are not. Being familiar…
A Comprehensive Guide to Landlord Insurance
If you’re a landlord in the UK, it’s very important to protect your property investment. Our guide will explain the basics of landlord insurance, including what it covers and why it’s so important. This is vital information whether you’re experienced in property ownership or just starting out as a landlord. Knowing about landlord insurance will…
Improving/Renovating Rental Property: Pros and Cons
Upgrading and renovating rental property can increase value, attract better tenants, and lead to higher rent. Features like modern conveniences and energy-saving elements make the property more appealing and competitive in the market. Environmentally friendly improvements can cut down on energy bills and appeal to tenants who prioritize sustainability. But, renovations can face delays and…
Landlord Perspectives for 2024
The private rental sector is always evolving, and knowing what lies ahead is important for both landlords and renters. That’s why we’ve pulled together this article sharing Landlord Perspectives for 2024. This year promises to be an interesting time for the UK rental market. Landlords are sharing their plans and worries for the year, based…
Top 5 Tips for Renovating Rental Properties
Before you start renovating rental properties, it’s crucial to understand what renters want and to budget effectively. Pick contractors carefully, looking at their track records and guarantees. Focus on renovations that will increase the property’s value, like modern kitchen fittings and wooden flooring. Use quality furnishings and make sure the property meets safety standards. Targeting…
Guide to Legal Requirements and Checklist for Landlords
Becoming a landlord in the UK involves a solid grasp of your legal duties to protect both your and your tenants’ interests. We’ll discuss the necessary legal knowledge for owning and renting property in the UK, along with a checklist to help you observe laws and manage your property effectively. Do Landlords Need Specific Qualifications?…
£1.37m Bridging Loan Provided by Recognise Bank for Luxury Residences in Lancashire
“Our expert management team acted promptly to tailor a financing solution that addressed the needs of all stakeholders, ensuring a swift release of funds within a very tight deadline.” – Paul Bagan, Recognise Bank William Thompson Homes, a seasoned developer, successfully completed a development of seven luxury homes in Goosnargh, Preston, and is currently selling…
Understanding Landlord Registration and Its Registration Locations
Renting out property in the UK comes with its set of legal requirements, one of which is registering as a landlord. This comprehensive guide sheds light on what you need to know about landlord registration in England, Scotland, Wales, and Northern Ireland. Explaining Landlord Registration Landlord registration is a legal system set up in parts…