The Deregulation Bill, under which the government is introducing what is effectively a ban on so-called revenge evictions, will be debated in full by the Lords on Wednesday of this week before returning to the Commons for its final reading.
How much would a tenant have to pay to secure a £1,000-a-month flat through estate agents Foxtons? A total of £420, while the landlord would have to pay another £2,448 for Foxtons to find the tenant and manage the property for a year. It is these sorts of extraordinary fees, common across the fast-growing lettings industry, that are (finally) provoking a revolution in new online players, and that will see high street estate and letting agents go the same way as Blockbuster, HMV and Lunn Poly – business models blown apart by the internet.
A landmark ruling could have implications for letting agents and landlords in connection with the behaviour of tenants.
A noise abatement notice was issued by Poole Council in Dorset to letting agent Michele King on April 1 this year.
She appealed it but this week lost her case.
The authority acted after a string of complaints about a property which was managed by her business, Deluxe Holiday Homes.
In order to succeed, OnTheMarket will need to have at least the same number of listings as Zoopla.
And there is a warning that Zoopla could go “direct to the seller”.
None of Britain’s burgeoning number of online estate agents has succeeded in breaking into the Fast Track 100, a barometer of successful private companies.
Zoopla is to go ahead with a flotation on the London Stock Exchange, it was announced this morning.
It will be offering discounted shares to agents and developer subscribers – with the total discount worth almost £20m.
The 20% discount is, said Zoopla, “designed to reward past and future customer loyalty”and will allow each current member to purchase shares now and next year at the discount per branch.
Britain’s largest estate agency chain, Countrywide, has appointed its next group chief executive.
She is Alison Platt, who takes up her role on September 1, subject to the approval of the Financial Conduct Authority. She is Countrywide’s first woman chief, and will be the only female heading up any of the large corporates.
She will instantly become the most powerful woman in the residential property sector, overseeing Countrywide’s wide range of activities from sales and lettings through to mortgages, surveying and conveyancing.
Eric Pickles’s ‘ambitious’ reforms of the private rented sector, which include a Tenants' Charter, completely fail to tackle the problem at the heart of the industry.
Paul Weller, managing director of lettings chain Leaders, said that the only measure that will work is regulation to stop bad agents operating.
The Advertising Standards Authority has provided new rules to clarify non-optional letting fees and client charges for property adverts – in print and online.
A lawyers’ field day looks to be on the horizon after experts disagreed on what needs to be disclosed in property marketing under a legal regime which now dispenses with the Property Misdescriptions Act.
According to the NAEA, difficult and sensitive issues about a property that relate to previous owners should be flagged up, not just before a transaction but before any viewings.