Get to know #Spencer's People! This is Tom! #lettings #Sheffield #hero

1)      Who would you like to share a pint with, either dead or alive?
Louis Theroux and Karl Pilkington.

2)      What is the most embarrassing thing you have done?
Whilst I was at University, I somehow slept walked across campus and ended up in the library in just my boxer shorts and t-shirt. Because I had locked myself out of my room, I had to climb through some randomers window to get back into the building as well. Quite a sight I imagine for all concerned!

3)      What is your Guilty Pleasures?
Horrible Histories (a program on CBBC) and I am quietly fond of Made in Chelsea.

4)      Who is your sporting hero?
AP McCoy – these jump jockeys are incredibly tough and to ride 4300+ winners is something that will not be topped in my lifetime. An unbelievable achievement for someone who has broken every single bone in his body at some point in his career! Made being a jockey look easy. Unbelievable attitude and drive in becoming the best.

5)      Favourite Musical Artist + Film?
Tough one – I would probably opt for The Smiths, but with an honourable mention to The Stone Roses, The Streets and Oasis.  As for film, I would say Dead Man Shoes.

6)      What is your biggest fear?
Balloons. I cannot stand the things. I have to leave the room if someone starts to play with them in front of me. The fear of it randomly popping is too much for me to cope with. I also have a huge hatred for the smell of bleach and feeling dizzy (both alcohol and non-alcohol induced).

7)      What would you sing on a Karaoke night?
I would probably pretend I was Noel Gallagher and sing Don’t Look Back in Anger.

8)      Have you ever had a nickname?
At University, I was called “Asbo”. My second name is Aspinal and I am probably the last person who would ever get an actual “Asbo” so it was quite an ironic one and just stuck. However, being introduced to parents and other people I did not know as “Asbo” might not have given the greatest first impression!

9)      List two pet peeves.
Slow walking pedestrians who walk in front of me & people who put milk in before the hot water when making a brew. 

10)   Do you have any weird celebrity crushes?
Nothing out of the ordinary, but there is something about Alex Polizzi (the hotel inspector) and Lorraine Kelly.

www.spencersestateagents.co.uk 

Avoiding Common Mistakes as a #Property Landlord - #Spencer. #Sheffield

Property Management Avoiding Common Mistakes.

Owning a property and renting it out is a challenge in itself, with the amount of time and effort that needs to go into advertising, viewings and then there’s the management side once a tenant moves in, not to mention all of the additional legal and regulatory processes that need to be followed.  Landlords have a lot to think about.

A good Managing Agent should take care of all of the legal obligations on the landlord’s behalf.  However, landlords should also make sure that they maintain a good relationship with their tenants, as happy tenants will generally pay their rent on time and look after the property.

A few common mistakes that landlords make which can upset their tenants, leading to future unnecessary problems are,

Ignoring property maintenance issues, as a landlord, it is your responsibility to ensure that the fundamental utilities of the property are maintained to a good standard. For example faulty heating or water leaks etc. are up to a landlord to repair and it can be annoying for tenants if landlords take too long to fix these problems.  Not only can this cause friction in the  relationship with the tenant, it can also cause the property to deteriorate, by not repairing the leak can cause bigger problems in the long run, leading to greater costs and at worst can even make the property uninhabitable for a period of time, potentially resulting in a loss of rental income.   If the property management issue is an emergency i.e. it relates to heating, plumbing, gas or electric it is useful to have some type of Home Emergency Cover in place to help with the cost of repairs. 

Not allowing tenants a bit of flexibility, whilst landlords should ensure that the relationship with their tenant remains professional at all times, it is also good to remember that they are also people who are using your property as their home.  As such, offering a bit of flexibility when it comes to decorating etc. This can go a long way in making tenants happy.  It can also add value to your property by increasing the rents if it is modern/desirable for future tenants.

Having the wrong insurance, Standard home insurance is not designed for landlords or rental properties, landlords will need to take out specific landlord insurances that cover their needs.  Specialist buy-to-let insurances can cover buildings and contents policies, as well as public liability insurance is needed as well, which allows a landlord to be covered against all possibilities of claims.  Landlords can also take out rent guarantee insurance, which can cover unpaid rent if a tenant fails to make their rent payments and remains in the property, along with the cost of issuing notices and court costs etc.

Not familiar with property management & legal requirements, Many landlords choose not to use a managing agent, which can save money in the short term, but often leads to greater costs in the long run, in terms of time and resources as well as financial. By having a good managing agent dealing with the administration and legal obligations the landlord can take a back seat focusing on enjoying the monthly rent coming in.

To speak to Spencer about renting your property, please call us on 0114 268 3682 or have a look through our website: Spencer

Thank you! Spencers Agents #Sheffield - #spencer #wearespencer #estateagentblog

THANK YOU!

Estate agents get a bad reputation. We know that we are not a loved profession but at Spencer, we work hard as a team to change that perception and give people the experience that they deserve from day one to completion and beyond. Be that as a seller, buyer, landlord, tenant, contractor or solicitor, we want you to want to speak to us and to work with us again!

As an established, focused, family run business we pride ourselves on our personal service and that’s reflected by the number of thank you cards & presents that we receive and the reviews that are posted on Facebook and Google.

So many clients come back to us again & again or recommend us to their friends and family, and for that we THANK YOU for supporting us.

#wearespencer  

Does your #investment comply with #EPC changes in time for your next void period? Ask #Spencer #Sheffield

Energy Efficiency Regulation Changes

The government has decided that tenants in low energy-rated rental properties spend significantly more on energy bills than those in high energy-rated properties. According to figures, over 33% of tenants are reportedly unable to afford their fuel costs, this rises to 45% for tenants in F/G rated properties. 

If your rental property already has an energy efficiency rating of E or above, then you are already compliant and can relax FOR NOW.   If not then you need to start to think about what changes you need to make to improve your properties energy efficiency rating.

From 1^st April this year ALL rental properties with new tenancy agreements signed MUST have an EPC rating of at least an E, if you already have a tenant living in your property before this time who is happy to continue without signing a new tenancy agreement then you are safe FOR NOW.    These regulations will be extended to landlords of existing tenancies whether a new tenancy agreement is signed or not by 2020.

Things to do if you have a low rated EPC

1.       Check the recommendation section on your current EPC, this will advise you on what changes can be made to increase the rating. Some may be small others may be more expensive.  

2.       Speak to the assessor who did your original EPC as they may have more in depth advice without spending too much money.

3.       Make the changes in plenty of time of your next void time and have a new EPC generated

4.       BE COMPLIANT to avoid fines of up to £5,000 PER property.

If you need help or advice please contact our team at Spencer so that we can help you make sure you comply before the next void period so that we help to mitigate any losses. 

Call Lynn, Emily, or Ash now on 0114 2683682 

www.spencersestateagents.co.uk 

Tenant Fee Ban - #Blog by Lynn Braha of Spencer's Estate Agents #Sheffield S11

Agency fee ban!

Lynn Braha talks about the tenant reference fee ban that has been suggested. Lynn is a Senior Lettings Manager at Spencer, here on Ecclesall Road, Sheffield.

"How are things going to change you ask? I say for the worse. I’m not convinced this is going to help anyone. 

"The ban is meant to help people afford to rent in the private sector, or so they say but this is debatable. In my opinion part of the problem comes from local councils selling off the bulk of their housing stock and leaving them with less social housing stock for people on a low income. 

"The main suggestion to counter the fee ban is higher agency fees being charged to landlords for tenant finding and property management, in effect the landlords will pay the tenants agency fees instead, but this will no doubt encourage landlords to increase rents to cover this and so in the end it will be tenants who ultimately pay, as rents will go up overall and tenants could be having to pay what they cannot realistically afford.

"Landlords may also stop accepting people on housing benefit, as the rates will not cover the increased rents.  This will cause an increase in homelessness and so defeating the objective.

"Another suggestion is tenants will be expected to pay the whole tenancy rent in advance to reduce the risk to landlords again making it more difficult for people on a low income.

"How is this helping people in the long term, yes it will get them into a rented property initially but will they be able to afford to sustain it?

"In my opinion the fee ban is not the answer, a cap on these fees would have been a better solution.

"Maybe if the government had a register where agents can register bad tenants minimising the checks that agents need to do to reference potential tenants.

"Only time will tell if this idea is going to work, watch this space!"

If landlords want to talk to us about their investment property or properties we are happy to help. Call us on 0114 268 3682 or email rent@spencersestateagents.co.uk to arrange to meet up on Ecclesall Road. 

Does your agent charge hidden repair commission? WE DO NOT @spencersagents #sheffield

A More Ethical Approach to Property Management

When considering revenue streams and remuneration structures in property management, quality agents will ensure that any put in place support an ethical business culture. An area where this falters in the property management industry is the commission policies on general repairs and maintenance. Some large and well-known agents set company targets for achieving a level of commission income in this area. This creates the conditions for unethical approaches which every agency should seek to rule out.

Take a typical contract which endows the managing agent to undertake any repairs under the value of £300 at their discretion. The managing agent has three different but reliable and well-reviewed contractors on their books who can carry out the works:

·         Contractor A will charge £200.00

·         Contractor B will charge £250.00

·         Contractor C will charge £275.00

It is clear to see that where discretion is permitted the conditions of a commission target would bias the agent towards instructing Contractor C. After all, their contractual obligations are satisfied and another step is taken towards achieving their target income. However this clearly isn’t in the best interests of the client given that they are paying unnecessary costs of works which the agent can have carried out more costs effectively. It is also clear from the above example that although an agents fees may be clear in their contract, this will not shed any light on their internal targets & remuneration structures and the type of decision making they may influence.

Some agents may jump on the archaic view that this approach is perfectly ethical given that it meets all contractual obligations whilst contributing to the company’s bottom line. However ethics begins where the law (or contractual obligations) end. In this scenario it should begin when the agent is considering which instruction is in the best overall interests of the client and, all other things being equal, it is not in the best interests of the client that they incur unnecessary costs. An agent’s claim that it helped them meet their commission target would not break any ice with the paying property owner. It may be argued that such companies can put measures in place to offset the risk such as checks to ensure the most cost effective option was taken. This is not an efficient or effective means of achieving goals for any agency committed to an integrated ethical culture throughout its business.

We at Spencer are committed to encouraging just such a culture and understand that this means meeting maintenance costings with a healthy questioning attitude, free of any general maintenance fees or commissions. This approach works in the client’s best interest by providing practical and cost effective courses of action with an unbiased view of which to take. This is in contrast with the above approach aimed at achieving the highest level of commission in the quickest possible time regardless of whether it really is in the best interests of client.

At a time when agencies income streams are being squeezed it is likely that the types of commission and remuneration mentioned above will be drawn on as a way to bolster revenue. So, when seeking out a quality agent it is worth looking beyond the fees outlined in their contract and asking questions about the practices the company may have in place to achieve their targets. Their answers may shed light on whether their approaches are actually consistent with the interests of their clients and the true costs of their property management.

Speak to Spencer about our ethical stance on zero commission on any repairs on 0114 268 3682

rent@spencersestateagents.co.uk 

www.spencersestateagents.co.uk 

#Landlords - you need us, we need you! Calling #Sheffield #Investors

Calling first time landlords…we are here to help you!

Taking the plunge and letting a property out can be a nerve wracking and daunting experience for a first time landlord, especially if the property was a family home and holds sentimental value, but it doesn’t need to be that way. Of course, there are always going to be horror stories of nightmare tenants who trash houses, and TV programmes such as ‘Can’t pay we’ll take it away’ definitely don’t help this!

But I can assure you that nightmare tenants are a rarity and there are a lot of lovely tenants out there!  At Spencer we have a knack for sussing out these lovely tenants and can guide you through the rental process to make it as easy and pain free as possible from the very beginning. If you are a first time investor we can help and give advice to ensure you purchase a property that will bring you a high yield, and will rent out quickly, or if you are already a home owner we can help you ensure your property is ready to be rented and that you can achieve the maximum rental figure you are wanting.

We will spend time to get to know you and your property, we come out and meet you at a time that suits you, we instruct professional photographers, and carry out floor plans to ensure they look great in all of our marketing material, we offer accompanied viewings, and even offer evening and weekend appointments to suit potential tenants.

Throughout the process we are only a phone call away and will provide you with regular honest feedback from any viewings, once we have (hopefully very quickly) found you a tenant, we arrange for them to be financially verified, credit checked, and their previous landlord references obtained, this is to ensure that the tenant can afford the property and limits the possibility of their being any problems down the line. Before the tenant moves in we take a deposit in case of any issues, and offer an inventory service so that the condition of the property is recorded, this helps should there be any deposit disputes or damage when the tenants do move out. 

Our work however doesn’t always stop there; we do offer a fully managed service in which we deal with all of the communication with your tenants so you don’t have to! This includes us arranging any maintenance work required & completing regular inspections to ensure the property is looked after, we can contact you only in emergencies if that suits you or can update you when issues arise.  

So If you are a landlord looking to rent out your property, please contact us so we can make the process as enjoyable for you as possible! 

Emily Rumsby is our Lettings and Block Management expert here at Spencer. Please call us to come in and have an informal chat about your management requirements and any lettings advice you need. We are at 469 Ecclesall Road, and you can reach us on 0114 268 3682 or by emailing rent@spencersestateagents.co.uk 

Property Market Forecast for 2018 - #Sheffield #EstateAgent #Blog

Property Market Forecast for 2018 

No one dare say the words “strong and stable” anymore in the same sentence but, if we were to, it would pretty much describe the current property market conditions in Sheffield. Over the last few years, the market has slowly limped towards Christmas with us hoping for little snow, and praying that the New Year would fast approach, whereas the end of 2017 saw a strong level of interest and a high level of property instructions right to the end of the year. There’s no doubt that the very top end of the market is still the slowest to move but with realistic expectations there are no reasons why it isn’t a good time to sell or buy.

We are yet to work out whether the stamp duty changes will make any real inroads to the first time buyer market but hopefully it helps to counter the interest rate increases, and we have been rather pleased to see that, although the press aren’t making too much noise about it, the Help to Buy scheme is definitely helping to make life easier for many.

In Sheffield, because prices are solid, we aren’t able to say that any one particular area is “up and coming” but there are many areas that are seeing good results in suburban districts particularly Walkley, Woodseats, Hillsborough, Meersbrook, and Abbeydale, where they may have, not so long ago, been quoted as the areas to buy for better value. The city centre is the one to watch in Sheffield though, and our only advice there is to BUY WISELY, there are many developments shooting up all aiming a similar markets so quality and position have to go hand in hand to ensure a decent long term investment. 

www.spencersestateagents.co.uk 

Please call us for any advice on 0114 268 3682

Buy off market, market off market! Don't miss out! #Spencer #Sheffield #Estateagent

Are you missing out on properties by not talking to the local estate agents? 

We regularly speak to people who are gutted that they have missed out on a property and yet don't want to be put on our mailing list because they search Rightmove & Zoopla regularly or get alerts from them. 

What a mistake!

If you register with us not only do we send an email out to our applicants first when a house comes to market, we also send out a seasonal newsletter about the Sheffield housing market including houses which are coming soon and let people know about properties that are not being actively marketed online. Recently we dealt with a £1.5 million stunner of a house but we hadn't even taken the photos, let alone put it online, when it sold! This is because we know a handful of people looking for their perfect home at that price bracket so we called them, booked in viewings for them and then worked with the buyers, sellers & solicitors to get the sale through to exchange of contracts & completion.  

This isn't just the case for private buyers but for developers too. We regularly get calls from sellers of blocks of apartments, land, and tenanted properties that they want to sell without the hassle of tons of viewings... you could be missing out on a great investment opportunity if we don't already have your details. 

If you'd like to register, it takes two minutes to call and speak to one of the lovely members of the Spencer team to register your details and to be added to the mailing list so give us a call on 0114 2683682 in office hours or email your details to us at Sales@SpencersEstateAgents.co.uk and make sure you don't miss out on your dream home! 

Don't forget to check us out on social media, you'll be the first to know about new houses and lust over some amazing interiors too. 

www.spencersestateagents.co.uk 

Estate Agents - are they all the same? #Sheffield #Spencer #Blog #SpencersAgents

"They’re all the same!"

Blog by Chris Spooner, our Senior Valuer at Spencer

I was in a well-known coffee shop last week when I happened to over-hear a conversation where two people were discussing a recent experience of choosing an estate agent. "I went for the agent who had the lowest fee because when you break it down they're all pretty much the same." This comment managed to make me experience sadness, disappointment, anger and happiness all in a 20 second moment but thankfully happiness was the emotion I felt for the most of that day.  I went back to the office to be greeted by our office manager who had a smile that was bigger than a Cheshire cat’s! The reason for her happiness was a vendor who had just been into the office to drop off a set of keys for the sale of their house which had just completed. Behind her on the desk were four bottles of wine, a bunch of flowers, and two cards, which had comments thanking us for all our help. This particular vendor has had plenty of recent experience with estate agents both as a buyer and seller so it was even more satisfying to read his praise of our team for all of our efforts. He was keen to point out that my initial marketing valuation was in the middle of three that he had received when looking to find a suitable agent, and he also was happy to admit that we weren't the cheapest agent to quote for his business. The results though were that we achieved a sale price higher than the highest valuation he'd received with a service that he couldn't find even the smallest of faults with. He couldn't believe the difference between using ourselves and the previous agent he used less than three years ago who at the time he chose because he thought all estate agents were the same! 

If you're thinking of selling your home in the near future and also think estate agents are all the same, please come down to our office for a cuppa and chat so we can try to help you see how different we might just be.

www.spencersestateagents.co.uk

#property #estateagent #sheffield #blog

Renting can be scary - not with #Spencer of #Sheffield

Renting can be scary!

Here at Spencer we specialise in helping first time renters. It can be a very daunting moving into your first home or even moving from an owned property in to a rental property but we are here to help. We talk tenants through every step of the way making it as stress free and as clear as possible. We offer a ‘hand held’ service to anyone one who needs one.

Here are a few bits of information you may find helpful.

Once you have decided you are wanting to rent a property you now need to decide:

How long do you want the tenancy for? We usually suggest 6 or 12 months to start with (6 months being our minimum)

What can you afford? The letting agent or landlord should be able to advise what you can afford monthly based on what you earn.

Decide which area you would like to rent in

How many bedrooms?

Are you wanting it furnished or unfurnished?

Do you have pets?

Most letting agents insist that people view a property prior to taking an application and we are no different. We need to ensure you like the property and have seen it for your own eyes. We understand how important it is to be happy in your home and feel that if you are happy at home than you are able to deal with the rest!

Read up on who you are potentially going to be letting the property through and look out for landlords who belong to an accreditation scheme. You may find a fantastic property to rent however the letting agent or landlord could be dreadful and not look after you whilst you are in there. Always read reviews!

Check all fees before you agree to anything. Some companies have hidden fees for example: tenancy renewal agreement fees, check in and out fees.  By law, a breakdown of all fees should be clearly visible to you in the letting agent’s office and on their website.

Please ensure you have the correct documentation ready when applying for a property. Landlords and agents will want to confirm your identity, current and previous address, immigration status, credit history and employment status. They will want to see your passport and visa and /or residence permit (if you have one).  Also if you have bad credit history please declare it at this point so we can advise the best way to get you through the referencing.

Also check which government scheme your deposit will be registered with throughout the duration of the tenancy. This must be done by law and will protect you.

When moving in to a property please ensure you have from your landlord or letting agent (as a minimum):

Copy of the signed tenancy agreement

Copy of the most recent How to Rent Guide

Valid Gas Safety Certificate (if gas in the property)

Deposit protection information

Copy of the Energy Performance Certificate

A detailed inventory with photos. If you are not supplied with an inventory by the agent or landlord, please do your own inventory along with photos with dates and times on.  This is to protect you at the end of the tenancy.

Never be too scared to ask questions or query things you are unsure about.  Everything should be very clear for you to understand. If you wish to discuss renting any of our properties or would like us to rent out your property, please contact the office on 0114 2683682, email rent@spencersesateagents.co.uk or pop in to the office based on Ecclesall Road.

Zoe Addenbrooke - Pictured 

Do you want to be a Lettings Agent?

Do you love property? Do you love people? Do you want to do your best?

Do you have great communication skills and manners? Do you want job satisfaction?

Do you have experience in a lettings environment? Do you want to be a Lettings Negotiator?

Do you want to work for a fabulous, focused, family owned business?

If the answer is YES to all of these questions, then get in touch!!

We have an opening for a Lettings Negotiator in our close-knit team and we would love to hear from you if think the role would suit you.

You will be responsible for managing rental properties, finding tenants, conducting viewings and finding new business. 

We’re not your average estate agency, we work together as an organised team to get the best possible results for our clients. No two days are the same and we love that!

You’ll get to visit some amazing properties, learn about why Spencer is different to other agents and be part of an amazing team. What’s not to love?!

Email lizzie@spencersestateagents.co.uk - thank you! 

EPC CHANGES FOR 2018 #Spencer #wearespencer #Sheffield #Property #Blog

EPC CHANGES FOR 2018

If you are renting a property out you should be already be aware of the EPC (Energy Performance Certificate). Up until recently there has simply only been the need to have an EPC visible on a property to let it out and the tenant must be supplied with a copy on the move in date. However, as of 1^st April 2018 there will need to be a minimum energy rating needed to rent out a property in the private sector.  As of this date, new lets and tenancy renewals must have a minimum energy performance rating of E. This will come into force for all existing tenancies on 1st April 2020.

Any Landlords who do not comply with this new rule should not rent out their property however if they do still proceed to tenant it with a rating below E the property would be deemed to be substandard and not fit to rent. Trading Standards could be able to impose a fine of up to £4,000. Due to this, we are encouraging our landlord’s to check their EPC readings now and get any works need doing asap so there is not a mad rush nearer to this date.  I am sure contractors will be very busy close to 1^st April 2018. Some properties may only need a few little things doing to improve the reading while others may need substantial works.

There are various different methods that can improve the EPC readings. Firstly, the cheapest things to do are getting a smart metre for the property as accurate usage of energy used can help. Low energy lighting and light bulbs can also benefit this. It can be as simple as changing a light bulb. Have adjustable thermostats fitted on radiators to make sure you are not heating empty rooms unnecessarily. Most of a building’s heat is lost through poor sealing of doors, windows and through poor insulation in both the roof and walls. There are government backed incentive schemes to help reduce the cost. Renewing or adding if not already present, new window and door seals can eliminate drafts. Insulation in attics should always be installed or if already present, renewed and thickened.  Whilst it can be quite a big job having cavity wall insulation put in, it will significantly improve the EPC reading. Getting a new smaller more modern boiler can reduce energy bills as they are now made to run a lot more efficiently.

When the assessor goes to the property to carry out the EPC tell him all about the insulation you have had fitted, smart reader, new low energy light bulbs etc. Ask them to take in to account any changes and improvements made to a building since the last EPC. Don’t be afraid to tell them and show them as it will help with the reading.

Energy efficient properties with a better reading will have greater appeal to purchases and investors and this will show in pricing of properties. Therefore, if your property is on or below E on the energy rating we fully recommend you start making changes sooner rather than later.

If you need any further information regarding EPC’s or anything relating to renting your property out, please do call the office on 0114 2683682, email rent@spencersestateagents.co.uk or just pop in to the office at Spencer The Estate Agent 496 Ecclesall Road, Sheffield S11 8PP for a chat.