Musings of the Mayfair London Property Finders

A tenant has successully complained about  her Lettings Agents for failing to ensure the Landlord of her flat was registered under an appropriate Tenancy deposit scheme, before handing over her deposit.  This meant that the Tenant has had to pursue the Landlord, so far unsuccessfully, to return her deposit

The agents, Global Realty who have 2 offices in London have been ordered to pay the Tenant’s deposit plus £200 for aggravation by the Property Ombudsman, Christopher Hamer.

Whilst the Ombudsman agreed with the agents that the Landlords actions were not the fault of the agents,  in failing to properly protect the deposit, the agents had disadvantaged the Tenants and led to a situation which could have been avoidable.

In our capacity as residential property finders dealing with both sales and lettings, our contracts include a requirement for Lettings Agents to lodge the deposit with an appropriate scheme and prove they have done so, regardless of the rental value.  At present only rents under £25,000 per year are covered however we insist that Agents acting for our Clients lodge all deposits with such schemes.

After all, no-matter if you’ve paid £6,000 in deposit or £60,000 – all Tenants want their deposits back don’t they?!  

For more information contact the best London Property Finders here

or look online here.

Technorati Tags: London property finders, Mayfair Lettings Agents, Mayfair Property Finders, Property Ombudsman, Tenacy Deposit Scheme

Tags: London property finders, Mayfair Lettings Agents, Mayfair Property Finders, Property Ombudsman, Tenacy Deposit Scheme

Musings of the Mayfair London Property Finders

With the plethora of Winter auctions upon us with another company releasing their catalogue day by day, we were expecting to have seen more larger ticket  houses on the auction market by now, but what there is is few and far between.

Barnard Marcus have a terraced family house in Hurlingham Road just north of Putney Bridge next week and it may be of interest to some.   Houses in that road generally go for £1.1 – £1.2m but the guide on this one is £900K however it needs to be totally refurbished, so there isn’t much room for manoeuvre or profit if it makes it’s guide.

Other than that there is nothing whatsoever in the November auctions for more affluent owner occupiers or developers wanting a bigger ticket project. 

It is however investor and first-time buyer city, with many lots not quite reaching their reserve prices in the room but being snapped up afterwards.  Everything from little flats in St Leonards for £38K to Hampstead period wonders for £500K and in need of work are going and there has been a good supply of stock between £200,000 and £350,000.

In our view as Property Finders, it seems that the big ticket properties are again being offered privately rather than suffering the ignominy of being offered to the world at auction.  Rather like the market as a whole really.  And while some parts of London and the South East are still in the doldrums, other parts are flourishing – and it’s all due to lack of stock.

Technorati Tags: London Property Auctions, London property finders, property auctions

Tags: London Property Auctions, London property finders, property auctions

Musings of the Mayfair London Property Finders

My Osteopath has just qualified and dreams of a small shop with a flat upstairs which he can call home.  A busy-ish road would be good: one with plenty of passing trade during the day and quiet enough for him to be able to sleep at night.

The thing is, after studying for 6 years part-time, he has done well to escape without the mountains of debt most students leave with, nevermind scraping together a deposit.

He lives in Manor House but works in Islington and felt sure that there would be no possibility of being able to afford more than a shoebox, despite my reassurance that actually Islington is a pretty good bet as buyers pretty much dried up overnight during the Northern Rock crisis so confidence fell fast.

As yet, the Osteopath still hasn’t got a deposit but it got me thinking that architects, Natural therapists, Hairdressers and other new small business owners should consider jumping in if they have the funds to buy property.

This small unit recently sold on Newington Green Road for £242,000 – including a shop with basement  and enough room for a small reception area and two decent sized  treatment rooms.  In addition, there’s a one bedroom flat over the ground floor and basement with a garden and separate access from Beresford Road.  According to the auctioneer, Strettons – it was in need of work: read complete refurb.  But considering a one bedroom flat in a reasonable period conversion or new-build in the area costs about £240,000 – £242,000 seems like a good buy considering you get your business premises for free!

It’s not the first small commercial unit to go cheaply either.  One of our Clients turned down a double fronted Victorian 2 storey in Liverpool Road, again in Islington.  Arranged as 2 commercial units and 2 small flats on the first floor, t hey sold for £370,000 earlier this year.  Bargain.

If you are trying but failing to find a bargain property in London or the South East, may we suggest that Manse & Garret might just  be the best Property Finders to call?

Technorati Tags: bargain London property, bargain property, first time buyer property, property for small business owners, small commercial property units

Tags: bargain London property, bargain property, first time buyer property, property for small business owners, small commercial property units