Providing Applicants with an ‘Amazing Service’

"There’s no pressure on us to let a property at any cost, just the drive to get the right person in the property."

“There’s no pressure on us to let a property at any cost, just the drive to get the right person in the property.”

Young London’s focus has always been on providing the best possible customer service experience. As the Senior Property Consultant I know that providing a great experience – from the first moment we’re contacted by an applicant up until the time we pass them on to our colleagues in Contracts and Property Management – not only benefits the customer but also our landlords.

Making a lasting positive impression on an applicant can mean the difference between them staying with us for many years and moving on at the first opportunity.

In this blog I will talk about how my team goes about forging a great relationship with the applicant and thus fulfilling our all-important ‘Amazing Service’ mantra.

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Worrying Lack of Awareness about Redress Schemes

Worrying Lack of Awareness about Redress Schemes

Worrying Lack of Awareness about Redress Schemes

A recent survey has made the claim that only 0.5% of the public are aware of the existence of the three Government approved redress schemes.

Since October 1st, a letting agent must legally be a member of one of these schemes to allow renters a recognised and independent route to take any complaint.

The schemes – the Property Ombudsman, Ombudsman Services Property and the Property Redress Scheme – are there to assess tenant complaints and can award compensation where they believe it to be appropriate.

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Landlords find ‘going it alone’ stressful

Landlords find 'going it alone' stressful (Image by Firesam!)

Landlords find ‘going it alone’ stressful (Image by Firesam!)

A survey of 759 landlords found that 1 in 4 feel the whole experience of letting and managing their rental property was far more stressful than they had expected. A huge 67% of those questioned stated that they felt that their stress levels were higher than they were 12 months ago.

Unsurprisingly, expat landlords felt that they were under the most stress due the distance between them and their property, hampering their ability to properly manage it.

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Operating Institutional Private Rented Sector Assets

David Mackenzie, Director of Asset Management, Young London

David Mackenzie, Director of Asset Management, Young London

With any businesses’ strategic planning, it’s vital to understand what success looks like at the outset. The Private Rented Sector is no different.

When investors are scoping Private Rented Sector investments, the operational aspect is just as important as the investment strategy. How will the assets be managed, the rents set, residents sourced, the homes maintained, refreshed and further down the line, refurbished?

Asking – and answering – these questions at the outset informs the operational strategy, goes some way to informing the costs involved and can provide investors with Key Performance Indicators (KPIs) with which to sense check progress.

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Property Management Guide: Winter Tips

Property Management Guide: Winter Tips

Property Management Guide: Winter Tips

As the mercury begins to drop, signalling the start of Winter proper, it’s a perfect opportunity to remind renters that the cold weather can cause all manner of issues in your home, especially if no action is taken to counter the effects of the adverse weather.

To provide a lending hand the Young London Property Management team put our heads together and came up with some top tips that can help renters protect their home as the cold winter months close in.

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Delivering The Largest Private Rented Sector Scheme

Alan Bates, Executive General Manager Lend Lease Construction

Alan Bates, Executive General Manager at  Lend Lease Construction

Since 2007 Lend Lease has been working on the development, design and delivery of the largest residential project in the UK.

The delivery of East Village for phased occupation from November 2013 builds on the success of delivering the best ever Athletes’ Village, that was occupied by up to 17,000 athletes during the London Olympic and Paralympic Games.

After having completed all pre-Games works in time for LOCOG to apply the finishing touches we returned to the site, after the excitement of the Games, in November 2012.

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In Conversation With… Marnix Elsenaar

Marnix Elsenaar, Partner and Head of Planning at Addleshaw Goddard

Marnix Elsenaar, Partner and Head of Planning at Addleshaw Goddard

We are regularly in conversation with a plethora of leading figures in the property, investment, finance and charity sectors, many of whom are guest authors for PRSupdate. The purpose of this feature is to get them to discuss the topics and issues that are currently affecting the Private Rented Sector.

If you would like to take part in an In Conversation piece then please do get in touch with us.

Today we are in conversation with Marnix Elsenaar, Partner and Head of Planning at Addleshaw Goddard.

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A Smarter Design For A Smarter Home

Todd Lundgren, Regional Practice Group Leader, RTKL

Todd Lundgren, Regional Practice Group Leader, RTKL

Over the last decade, the proportion of households in the Private Rented Sector (PRS) has risen from 10% to over 17%. By 2016 it’s expected that one in five households will be renting privately.

The average age of tenants has also increased, with the fastest growing group of private tenants now between 35 and 44 years old. Of these households, between 25% and 33% are families with children who, broadly speaking, are looking for secure accommodation over a long period of time to lay down roots in the local community.

There is also a growing community of young people – postgraduates from university – who have grown accustomed to the quality of accommodation and service from the purpose built student housing market, and who find the current offer in rented accommodation sorely lacking.

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Designing For The Private Rented Sector

Artur Carulla, Director, Allies and Morrison Architects

Artur Carulla, Director, Allies and Morrison Architects

In recent years, our designs have responded to the increasing housing demand, rising land values, new policies and regulations, changing market preconceptions and influences from overseas. Many of these changes are, to some extent, either the cause or the consequence of an increase in housing development densities and the consequent shift of home building from houses to flats.

While this trend developed long ago, it was only four years ago that the Mayor of London’s Housing Design Guide (LHDG) was first published. This document offered the first spatial criteria for residential developments since the abolition of the Parker Morris standards in 1981.

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Can The Planning System Help Or Hinder The Creation Of A Large Scale Private Rented Sector?

Karen Cooksley, Partner - Head of Planning, Winckworth Sherwood

Karen Cooksley, Partner – Head of Planning, Winckworth Sherwood

Residential developers who build for sale have, for many years, voiced consistent concerns about the length of time it often takes to navigate the planning system and achieve the consent required to build much needed homes. Inefficiencies in the processing and determination of applications can result from a lack of resources or experience at officer level.

There is frequently a lack of political will or leadership to help communities understand the need for more homes to be built in their locality and the wider social and economic benefits which will result. Each local authority has different policies and there is a frequent tendency to apply planning law and national policy in a different way.

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Land Acquisition In The Private Rented Sector

Darryl Flay, Chief Executive Officer, Essential Living

Darryl Flay, Chief Executive Officer, Essential Living

Rising house prices, demographic change and the tight mortgage market have led to a doubling in the number of renters in the UK over the last decade.

While no one doubts the UK’s penchant for ownership is about to change any time soon, there’s a huge opportunity in unlocking the kind of institution-backed sector that supports housing in the US. Replacing the reputation for poor standards underpinning the buy-to-let sector could, however, redefine the way the public approaches renting, while creating an exciting new asset class for institutional and, eventually, retail investors.

A growing number of large investors have been posturing on the sidelines for years and, over recent months, the talk has turned to action with major schemes in development across London and Manchester.

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Consultation on Definitive House Price Index

Office For National Statistics

Office For National Statistics

The Office for National Statistics has launched a consultation seeking input from “users” on the proposal of developing a single definitive house price index.

As I have blogged about previously, there is not a precise house price index as all of the current indexes source their data differently.

The move to a single, UK-wide, index would help end the confusion caused by the contrasting data thrown up by the current indexes.

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Funding Private Rented Sector Housing

Andrew Screen, Managing Director, GVA Financial Consulting

Andrew Screen, CEO, GVA Financial Consulting

The emergence of a significant Private Rented Sector (PRS) development and funding market has been driven initially by the public sector through various initiatives, including the formation of the Government PRS Taskforce and followed closely by investors.

These early investors included M3 Capital Partners, M&G, Apollo, Grainger, AGP, Qatari Diar, Akelius, Oaktree and Sigma, with many following suit in the last 12 months. On a monthly basis new investors are entering this market with c£500m to invest, all seeking PRS developers and suitable investment opportunities in the UK’s top 35 cities.

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Another Successful RESI

Cathy Fuller, Head Of Events at Property Week

Cathy Fuller, Head Of Events at Property Week

On September 10th the property industry’s best and brightest descended upon the Welsh countryside to attend the UK’s biggest property event, RESI 2014.

Once again we had more than 1,000 delegates in attendance networking, discussing the current state of the residential property sector and enjoying a full conference programme of opinion and debate, Chaired by Mark Eason, the BBC’s Home Editor.

Leading developers, researchers, financiers and politicians took to the stage to talk about the key issues facing the sector and I have collated some of the biggest talking points to come out of this year’s conference.

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In Conversation With… Bill Hughes

Bill Hughes, President of the British Property Federation

Bill Hughes, President of the British Property Federation

We are regularly in conversation with a plethora of leading figures in the property, investment, finance and charity sectors, many of whom are guest authors for PRSupdate. The purpose of this feature is to get them to discuss the topics and issues that are currently affecting the Private Rented Sector.

If you would like to take part in an In Conversation piece then please do get in touch with us.

Today we are in conversation with Bill Hughes, President of the British Property Federation.

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