Tuesday 9 June 2015

Should you PAT test? by Mick Jackson of MJ PAT Testing

Here's a great article written by Mick Jackson of MJ PAT Testing in St Albans as to why PAT testing of appliances is relevant and important for Landlords.

"I know it’s not the sexiest of subjects and eyes tend to glaze over at the mere mention of Portable Appliance Testing (PAT), but read on, you may save yourself some money and maybe more!

Firstly let me put things straight, PAT is NOT a legal requirement for anyone. It never has been nor is it likely to be.  Secondly its does not have to be carried out every year, both of these things have been put out by the more unscrupulous companies out there touting for your business.
So what is the point in having PAT carried out in the first place? 

There are many rules and regulations that say you are required to maintain electrical appliances under your control to ensure a safe environment. None of the regulations give you guidance as to how you manage this. This is where PAT comes in. It is a standard of inspection and testing of appliances that meets all the requirements of these regulations and allows you to know that, at the time of testing, you are complying with the law. You, as the ‘duty holder’, are responsible for the maintenance of electrical appliances.

The National Landlords Association recommends that PAT testing is carried each time a tenancy changes OR every two to three years. Houses of Multiple Occupation are slightly different and the Local Authority will probably request that you have PAT testing carried out every year in common areas.

The latest H&S guidance note (107) relating to PAT is available on the Health and Safety website. 

Alternatively please visit the faq’s section of my website www.mjpat.co.uk  for more information or call me on 07795185619 for free no obligation advice."

Friday 5 June 2015

What's the big deal with Tenancy deposits? The AIIC tells us...

The AIIC have just released the latest data sourced from the TDS regarding deposit returns at the end of tenancies.

Tenants are the overall winners in the race to claim a deposit at the end of a tenancy. 20.25% of tenants get the whole of their deposit returned as opposed to 18.21% of landlords hoping to claim a whole deposit.

The highest cause for complaint was cleaning which was disputed in 53% of adjudications. Damage claims totalled 46%, redecoration 29% and gardening 14%. The main reason that landlords fail to win their claims is lack of good detailed evidence. This has been a constant problem since the start of the deposit protection schemes in 2007, landlords are slow to learn it seems.

To greatly increase the chance of winning any claim firm evidence must be produced. This will include the tenancy agreement, the check in inventory – preferably signed by the tenant – and a good detailed unbiased check out report.

All the deposit schemes are aware of the problems of inventory documentation being produced by a landlord or an in house clerk since the resulting document “could be perceived to be biased”. The only safe way is to have these documents produced by a professional independent inventory clerk.

All AIIC members are regulated and must adhere to high standards. They must comply with the Code of Practice laid out by the membership organisation and clerks are required to be fully insured. Independent Clerks will produce a clear detailed inventory and check in and out report that will stand as vital evidence in any dispute.


For inventories in St Albans and Harpenden, we outsource all of our work to Busy Bee Inventories who comply fully with the codes of practice but also have been repeatedly lauded as the most detailed and best quality inventories money can buy. Can you afford NOT to use them?

Contact Susan at Busy Bee Inventories by clicking here.

Wednesday 3 June 2015

Most expensive House in St Albans - June

STOP PRESS!

The crown has been taken, the most expensive house in St Albans is no longer the aforementioned eight bedroom monster house on Harpenden Road but now it is this delightful property on Marshal's Drive.


http://www.rightmove.co.uk/property-for-sale/property-34513392.html

Five bedrooms, so less 'sleeping space' than the former top spot property, but you get 0.8 of an acre of land, a prime address in St Albans, bag loads of parking, a cinema room, huge bedrooms with oodles of space and it can be yours for a cool £3,250,000 - speak to our friends over at Winkworth. Martin should be able to point you in the right direction for a viewing.

Recent figures show the average Detached house price in St Albans to be £782,704 so this property sits a whopping 345.99% higher than most detached houses in St Albans and with the UK average for detached homes settling in at £388,415 it is 736.73% higher than most detached properties across the UK as a whole.

St Albans is an absolute hotspot for property, and this is good news for local property owners. Keep an eye on this blog for more stats, figures and updates - you can subscribe to receive updates or keep checking back regularly for more juicy property information.

Monday 1 June 2015

Property in St Albans for under £180,000

Yes!  It's possible!  They do exist!

Fear not, unlike Unicorns, pots of gold at the end of rainbows, and free lunches it is (contrary to popular belief) possible for even those on a budget to buy a property in St Albans.


http://www.rightmove.co.uk/property-for-sale/property-34317696.html

Take this example of a great studio flat in St Albans - about 10-15 minutes walk to town, within striking distance of the park, just a stones throw from Batchwood Golf and Racket club and moments away from the M1 junctions 8 and 9 and the M25 by car, with the A1(M) slightly further away, Redbourn, Hemel Hempstead AND Harpenden easily accessible from this location, a convenience store just yards away and free on street parking, this is an absolute gem for a first time buyer.

Does is stack up investment wise? Yes, in fact it's not too bad considering the average yield in the St Albans area - your capital growth might be a little slower than you might prefer, however if you give it a little leg-up you could ask £695 per calendar month and at this price you'll see a nice return of 4.8% which is above average for St Albans.

Why not try making an offer and see what the owners say - you've got nothing to lose!

It's on with Your Move but I can only see it on Rightmove and not on their website - hurry or it might be gone!!!