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Maskells Estate Agents Ltd
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http://www.maskells.co.uk
http://www.maskells.co.uk

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Housing was always going to be central to todays Budget announcement. Here we have our thoughts on the property market and stamp duty.

#stampduty #budget2017 #budgetday #housing

https://lnkd.in/dHqdfHB
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Below is our latest article on our Pre-Budget Thoughts for Housing in the UK. Including comment on how new homes are needed, targets are being amended, renewed calls for ways to deal with housing shortage but no consensus. How cutting SDLT for first time buyers is going to be unpopular once HMRC have better defined what a first time buyer is, and if qualified what does a first time buyer want ?

https://lnkd.in/d4JW_vv
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Jamie Hope, Managing Director here at Maskells talks about the prevalence of gazumping in the Prime Central London property market. http://ht.ly/jY5Q30fP6kq by Deborah Battsek PR.
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“We’ve Never Seen a Rate Rise!” – First Time buyer quoted by the Daily Mail....
Well, At 25 basis points, I think we can argue that you have not really seen one yet, particularly as this was simply a correction to the 2016 rate and we are still in the lowest interest rate environment in history. In any event the language from the MPC was hawkish (just) calling for slow and sustained rises to 1% over the next couple of years. Sterling fell by 1% against the Dollar as investors showed disappointment at the proposed pace given the inflationary pressures in the UK.

To continue reading our month end commentary, click the following link...
https://lnkd.in/dYRc9FV
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Our new website is available now.

Established in 1965, Maskells Estate Agents is the specialist in property in #Kensington, #Chelsea, #Knightsbridge & #Belgravia.

Please do visit our website to learn more about our services, and to view available properties.
http://www.maskells.co.uk/

#EstateAgents

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Maskells Estate Agents are the proud sponsors of Carols by Candlelight in support of the Alice Martineau Appeal for the Cystic Fibrosis Trust

Where: St Luke's Church, Sydney Street, Chelsea, SW3 on the 18th December 2014.

Alice Martineau died from Cystic Fibrosis 10 years ago, aged 30, having achieved her goal of signing a record deal.  The release of her album Daydreams in November 2002 and a BBC documentary about the nature of her illness and her determination to overcome it are testament to an extraordinary individual who achieved so much in such a short life.
The Alice Martineau Appeal was established by her close friends and family to raise money for the crucial gene therapy research funded by the Cystic Fibrosis Trust.
Maskells Estate Agents is delighted to sponsor this event and this charity after Maskells Director Charles Curran attended the CF Trust 50th Birthday (NO) celebration dinner (they have a policy of not celebrating being 50 until every CF sufferer can)  and learned first hand of the difficulties faced by sufferers and of their courage from the very moving speeches on the night.
At Maskells, we are very much looking forward to this event which attracts over 700 people each year and in helping the Carols by Candlelight committee members in every way we can.

Tickets for the event will shortly be on sale at Maskells, 71 Walton Street, London, SW3 2HT or you can order your by phone by contacting the CF Trust's special events team on 0300 373 1100

In order to further help the Trust, Maskells Estate Agents are
pledging 25% of any fee to the Cystic Fibrosis Trust they earn from Vendors, who are CF Trust supporters, when instructed to sell their homes on a sole agency basis.  Naturally there are certain terms and conditions but as this is for a very good cause, we are keeping them as short as possible.

Please help us support this very worthwhile cause and pop in to buy a concert ticket or call the CF Trust order line - the number again is 0300 373 1100
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Hidden Charges in Lettings Contracts for Landlords

A competitor's client just called in a furious rage...  He had just spotted in this Landlord contract that the large national agency he had hired to let and manage his property were taking kick-backs from their suppliers!!!!  He ordered a new washing machine for his Tenants and was quoted £900+vat for overnight delivery.  Having checked this against the internet price, he ordered the machine himself and is having it delivered for £470 inc vat, fitting, 2 year warranty and disposal of the old machine!!!  Why the huge price difference?  Large corporate agencies use specific suppliers who provide them with a commission on the amount of business they do  and this is in the small print of the Landlord contract.  If you are a Landlord, we urge you to check your contract and see if you are getting the value you expect.

At Maskells there are no hidden fees - we search for the best value deals for our Landlords  when supplying white goods and we DO NOT ACCEPT any form of kick-back from any of our suppliers.  
Call us on 0207 581 2216 to find out how we can help you!   
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Maskells Landlord Discount

For Landlords with properties to rent in Kensington, Chelsea, Knightsbridge, South Kensington, Belgravia
The Team as Maskells are here to help make your investment work for you.  We already have an industry beating 30 working day average between first putting a property on the market and that property going under offer,  but we want to do more for you:
For a limited time we are only charging 10% to let AND manage your property for the first year.  In a low rental yield environment, we know that every bit you can save is important.  Our let only service is offered at 8%.
For full terms and details please contact Peter Hermon-Taylor on 0207 581 2216 or peter@maskells.co.uk
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Maskells Estate Agent comment on Lettings Charges.

We are very open with our fees for both Tenants and Landlords but why do these extra charges exist?  There is a great deal of work to be done prior to the tenancy start date and we incur costs.
When an applicant contacts us, the team will spend time with the applicant to show them various suitable properties and help inform them about current rental market prices. This could involve one or two days when a member of staff is out of the office focusing solely on one applicant.  The team will negotiate with landlords in order to help secure an agreement between the two parties.  Whilst we act for our Landlords, ARLA requires us to have a duty of care to our Applicants.
So far the team’s service has been free – if either the landlord or the applicant withdraw, we earn nothing.  We don’t charge the landlord for marketing their property (including the cost of professional photographs, floor-plans and advertising) in any event and our fees are only due once contracts have been signed by both parties.
If the two parties agree on terms and a price, prior to the start of the tenancy:
For the landlord, the team will:
1)Create the tenancy related documents, including the Tenancy Agreement.
2)Organise a Gas Safety and Electrical Inspection Certificate
3)Organise the professional cleaning of the property.
4)Organise an inventory of the property by a professional third party inventory company
5)Organise pre-tenancy maintenance works if necessary.
For the Applicant the team will:
1)Organise reference checks by a professional third party referencing company.
2)Create, explain and negotiate the Tenancy Agreement for the Applicant
3)Hold the Deposit in a ring-fenced client bank account
4)Register the deposit under a Tenancy Deposit Scheme
5)Write to all utility providers and local Council to transfer services to Tenants name.
As an ARLA Licensed Agent, we disclose ALL of our fees upfront.  There are no hidden charges.  Why do we have these fees?  Simply put - we incur costs.  Each Agency has different costs based on their overheads and ours are calculated to ensure we do not lose money on a transaction.
Looking at the Sales market, the role of producing documents is usually undertaken by a solicitor. If we were no longer able to charge a modest fee for the documentation and our service, landlords and applicants would be faced with using solicitors to create documentation for lettings transactions and the costs would spiral upwards.
As to our ongoing fees, as part of the rental agreement with the Landlord, we provide additional services. For example monthly invoicing and accounts reconciliation on rent – for foreign landlords we even have an obligation to HMRC.  If a Landlord has chosen our Fully Managed Service, which is a fixed monthly charge (as a percentage of the rent) we also look after the property.
As a business we also have fixed costs including bank charges for lettings deposits, TDS membership fees, ARLA Membership fees and a charge per deposit we register.  We have Professional indemnity insurance and Liability insurance for the business we run.
By removing the ability of Estate Agents to charge these fees, Applicants would face increased costs in using solicitors to draw up their short-hold tenancy agreements and Landlords would seek to increase their rent to cover additional charges billed to them.   
This topic has been in the press a great deal recently as the Opposition was seeking to ban fees Estate Agents charged.  Our applicants tell us that they would prefer a small charge and deal with a professional ARLA licensed agent than pay no fees, engage their own solicitor and deal with the landlord directly.
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