The once low-rent status (metaphorically speaking) of paying rent is changing. Suddenly it’s a smart way to sit out the credit crisis. Jane Ingram, director of national lettings at Savills, notes: “We are seeing a new, more glamorous breed of tenant. ”
It pays to rent a property Times Online
Screen capture: princessmichael.com
Prince and Princess Michael of Kent will soon be paying rent for their 5 10-bedroom apartment in Kensington Palace.
The rent is £120,000 a year (about £2,308 per week), and is payable from year 2010. Until then the Queen is covering the costs. The royal couple has been using the Kensington W8 apartment since 1978.
Via: BBC
A Good Year, imdb.com
The Sun reports that actor Russell Crowe is moving to London for the upcoming movie shoot!
He has supposedly rented a large house with a pool in Mayfair for the next six months, for £20 000 per month.
PS! Fans should keep an eye on About Mayfair blog.
© london.gov.uk
Readers from abroad might not know that Conservative Boris Johnson was elected to be the new Mayor of London on 2 May 2008. The previous and legendary position holder Labour Party Ken Livingstone took transportation to another level. Will Johnson do the same in housing?
Of course, the promises given before the election are always exaggerated but you should know what his goals are. Boris’ manifesto on improving the housing conditions can be obtained HERE (*pdf).
Here are the 4 most important promises that affect the rental sector directly:
1. Provide more affordable quality homes for low-income Londoners (50,000 more affordable homes by 2011) - it might be easier for today’s tenants to get a home of their own in the future.
2. Protect private tenants from unscrupulous landlords by publishing an online ‘Fair Rents Guide’ to help Londoners determine whether or not they are getting a fair deal.
3. Explore the possibility of a tenant deposit scheme (for rent paid up to £25 000 a year) with a guaranteed arbitration period of one month - Boris thinks that 1 months rent worth deposit is just way too much.
4. Spend £60 million on renovating empty homes (ca. 84 205 of them in London!) to be used by those in need.
Four years with a budget of a little over £1billion a year to spend on housing - a lot can be done. I do agree with Empty Homes Agency Chief Executive David Ireland, who says that at least the bar is high, and that should be a good sign in itself.
Keep an eye on the Mayor of London website!
Always enjoyed the Homes & Property magazine column “Diary of an Estate Agent” - written by different agents, about their weekly happenings. It must be popular, as I’ve been reading those stories since 2004 already. The last diary, from this past Wednesday edition, was written by Marc von Grundherr, the director of residential lettings at Benham & Reeves.
Remember his odd encounter with an obsessive tenant who wanted to rent his own flat in Earls Court? Apparently he just found a tenant for that place. Another interesting note there for those looking for an apartment in Mayfair, Fulham or Kensington - his diary reveals that he just got a new bunch of rentals in these areas:
MONDAY
On my way to the office, I had a call from a client who wanted me to take on six of her rental apartments, in Mayfair, Fulham and Kensington. One of the Kensington flats has been empty for eight months, and one of the Fulham flats has not been let for more than a year. Both were in a dreadful state. In Fulham, I found broken furniture and filthy carpets. The Kensington flat had not been touched since it was bought 10 years ago, when swirly marble-effect wallpaper was the last word in style. I need to send in decorators — as soon as possible.
(C) Howards Estate Agents
Meet the new President of the Association of Residential Letting Agents (ARLA) - David McMaster (40), who took over Robert Jordan’s job last week. McMaster has nearly 20 years of experience in lettings. Most recently in Howards Estate Agents in Norfolk as a Residential Lettings & Property Management Chief Executive.
McMaster has said that his personal mission in ARLA is to ensure landlords and buy to let investors understand exactly what they should expect from professional letting agents.
What should tenants expect?
Congradulations and good luck!
Daily Star reports that the new head coach of the England national football team Fabio Capello and his wife are looking to rent a house in London:
“Fabio and Laura have instructed several estate agents to look out for a London property.”
Sweat it, agents!
*Image from La Reppublica.it
