22nd November 2021
What Has The Pandemic Taught Us and How Has The Market Changed?
If you are a solo office or small chain, chances are that up to 40% of your space is taken up by non-fee earning staff. Imagine if all your desks were occupied by fee earners! We all know that having a letting and management arm to an Estate Agency is the way to go. Lettings offers a more stable income than sales; and a regular management income can save an agency, especially in these uncertain times. We offer a fully outsourced property management service, that keeps the profits in your pocket and the hassle off your plate. By outsourcing your property management to Performance Property Management you will be able to offer your clients bespoke property management (which tenants and landlords love) with none of the headaches and more room in your agency for fee earners! PPM has it all, Client Money Protection, Association of Residential Lettings Agents membership, Property Ombudsman Membership, Non-Resident Landlord Registration and Money Laundering Registration. You wouldn’t need anything. Want to learn more? Contact Paul Barnett to discuss how this could work for your agency. ...
The Rental Market In general, the rental market seems to be recovering well with some of the big Portals like Rightmove and Zoopla reporting record high activity levels. However, there is still a lot of available property with central London hardest hit. Stamp Duty Holiday A specialist Buy to Let Mortgage Broker has advised Landlords to take advantage of the new Stamp Duty ‘holiday’ and buy now before it finishes on 31st March 2021. Investors will still pay the extra 3% but with properties under £500,000, but that is all you will have to pay! It’s a great time to add to your portfolio. Capital Gains Tax The Chancellor has ordered a review of CGT and many Landlords are worried that they will once again be a target of the governments need to recoup some of their huge recent pay outs. PropertyMark, which includes the NAEA (National Association of Estate Agents) and ARLA (Association of Residential Lettings Agents), have asked the Government to think very carefully before disincentivising Landlords. Eviction Ban The eviction ban ends in August which will be great news for some Landlords. However, if you started a case before August 3rd, 2019 then you must ‘reactivate’ it. You must inform the courts that you still wish to proceed, or the case will simply be discarded. The courts will have an enormous backlog and will prioritise Domestic Abuse cases and Anti-Social Tenant cases. It always has been PPM’s advice that you try, wherever possible, to resolve a dispute without going through the courts. Please feel free to ask my advice on any tenancy issues you...
TAKING UP SPACE - When desk space in your agency is tight, it’s time to outsource your property management. Small & Medium sized estate agencies who offer letting services face an ongoing battle balancing space between property management staff and fee earning agents. In a typical office of 6 desks, at least two of them will be occupied by property management/admin staff. Dead space in terms of income. It’s true that the letting business is great business for any agency, but the cost of running it (and the headache that comes with it) drastically reduces income. The ideal situation would be to have every single desk in an agency occupied by a fee earner. That’s obvious, but how can you achieve that, and still have a lucrative lettings business? Outsourcing. I’m not talking about taking your support off-shore, I’m talking about having an expert team of property management staff, superb tenant and landlord support, all done in your name, without the cost and hassle, with an increase in profits of up to 40%! Outsourcing in the professional services industry is a well established and supported way of doing business. But it’s relatively new to Property Management. Lettings is historically a very competitive environment with agents vying for properties to add to their portfolio. The problem isn’t necessarily when you first start out, but once you reach a certain level of properties the costs (and headaches) start to increase exponentially. For start-up agencies (or smaller established agencies) the cost of supporting lettings can be prohibitive as it means shelling out for so many things that you didn’t need before. Costs for things like; Client Money Protection Scheme Professional Training ...
What Has The Pandemic Taught Us and How Has The Market Changed?
PPM is the first company to offer Landlords a one-stop-shop for every aspect of property management.
A single, highly experienced, point of contact means you will never have to waste time, or worry, about your property.
From tenancy agreements, to mowing the lawn and everything between, we’ve got you covered
