Category: Property

  • Renter beware

    Renter beware

    by Nathan Davis

    With all the talk recently around house prices, it’s worth remembering how many people do rent in West Hampstead. It’s always been a popular place for first or second jobbers, and increasingly for people who love living here but simply can’t afford to buy.

    A big rental market means lots of estate agents and landlords and inevitably, some are better than others. If you do run into problems, it’s good to know your rights. I found myself having to do a crash course in tenants’ rights and I thought those of you renting might find my experiences helpful.

    Do you rent a flat in London? Did you know that…

    1) Your landlord needs to pay your deposit into a Government approved deposit protection scheme and return it to you at the end of your tenancy (unless there’s a dispute about your tenancy).* (There is also an insurance-based scheme, though this is rarely used).

    2) Your landlord isn’t allowed to enter the premises without prior permission from you (If they want to enter at a time inconvenient to you then as long as you give them a few alternative dates/times you can deny them entry). If they still enter the premises they may be guilty of harassment and harassment by a landlord is a criminal offence. Whether your tenancy agreement specifies it or not, you are entitled to “quiet enjoyment“.

    3) The law gives certain rights to people who are renting and these cannot be taken away no matter what your rental agreement says.

    4) If a landlord/agent tries to change your original tenancy agreement the changes must be acceptable to you. If they are not, you do not have to sign a new tenancy agreement.

    5) When you vacate a property your landlord should not make any deductions from your tenancy deposit to pay for putting right normal wear and tear or because you did something the landlord didn’t approve of. You can also ask to be shown receipts or estimates for items that have been deducted from your deposit. This doesn’t extend to unapproved changes to the property itself, which the landlord could either ask the tenant to change back, or do the work him/herself and charge the tenant.

    Landlords and agents may try and take advantage of you if you aren’t aware of your rights which is certainly what happened to me.

    In 2005 I rented a flat through Paramount Properties (based on West End Lane). They managed the property and were always helpful, prompt and efficient with any problems we encountered. When it came to checking out, the third-party inventory company said that the place was ‘in a better condition than check-in’ and our deposit was promptly returned to us in full.

    Fast forward to 2010. Another West End Lane letting agency, who shall have to remain nameless, took over the agency that looked after our new property on behalf of my extremely elderly landlady. Their official line was that they managed my contract but not the premises.

    The first thing they tried to do was change my contract (see point 4 above). They argued that this was their standard contract, so there shouldn’t be a problem. Except that there was a large hike in the rent (on a property that could have been more dilapidated only if the walls fell down). There were other clauses nestled in it too that reduced my tenancy rights (including that of the right of the landlord to enter the premises). Eventually they relented after a lengthy back-and-forth.

    After six years of househunting, we had finally saved enough and found a place of our own. We gave our notice. The landlady instantly arranged several visits with various workmen to inspect the premises. We were as accomodating as possible but, on one occasion, she emailed us on a Wednesday to say that she wanted to come with a builder at midday on the Saturday. This wasn’t convenient so I offered her several alternative dates and times.

    She replied that this was the only time available and that the letting agent had confirmed she had to give only 24 hours notice whereas she was giving us two and a half days. She went on to say that we didn’t have to be present and it wouldn’t take long.

    The law states “You have the right to live in your accommodation without being disturbed. You have control over your home so that your landlord and other people cannot freely enter whenever they want to. Your landlord cannot limit or otherwise interfere with your right to live in your home. If your landlord tries to do this s/he may be guilty of harassment which is against the law. The home you rent is your home and nobody can enter without your permission, except in emergency. If landlord lets himself in, he commits trespass. This is a serious, criminal offence. He/She needs to give you notice, a minimum of 24hrs and you need to agree.”

    I could therefore have refused any access to the flat and still been totally within my rights. Instead we didn’t lock the door from the inside that Friday night and, as a consequence, had a builder measuring around us in our bed whilst we lay there mortified – I kid you not.

    Even after we’d vacated the premises we were running into problems. Although the law seems to favour the tenant whilst they are in the property, as soon as they leave, it seems that the opposite is true. We were contacted by the lettings agency and paid them £114 for our checkout inventory. Tenants are generally encouraged to attend the checkout process but we couldn’t afford anymore time off work. We cleaned the premises to the same standard we had with the Paramount property.

    Shortly after recieving the checkout report, the landlady wanted £420 of our deposit for wear and tear and professional cleaning. I pointed out that (as per point 5 above) she wasn’t allowed to make deductions for wear and tear, only for damage to the property, missing items, cleaning and unpaid rent. I also pointed out that to receive money for a flat to be professionally cleaned either just before or during extensive building work was absurd.

    If your deposit is held with a deposit protection scheme and both parties can’t agree on a resolution then (if both parties agree) you can escalate the dispute to a dispute resolution service. This is a free service where both parties submit evidence and an impartial adjudicator decides who should recieve what.

    This is where it gets interesting. If the agency/landlord refuses to go to a resolution service then you cannot get ANY of your deposit back unless you go to court. If, like myself, you don’t get paid when not at work this could prove a very costly experience.

    As a last ditch attempt to resolve the situation, I offered to pay for the flat to be professionally cleaned (after obtaining a quote of £150). I said if the landlady would grant the cleaners access to the flat then I would happily pay for the service. The landlady replied that she “accepted my quote for cleaning in order to finalise this matter”. The amount was deducted from my deposit and the remainder was finally returned to me. She received the money for the cost of cleaning but not to have the flat cleaned.

    The whole experience was a salutory lesson in both knowing and standing up for your rights as tenants. Most landlords are decent people, but it is an unregulated industry and there are certainly some less scrupulous property owners out there. Renter beware!

    * If you moved in on or after February 28th 1997

  • Property News: Could sale prices cool?

    Property News: Could sale prices cool?

    They weren’t forming long queues down West End Lane, but reports are that potential buyers were booked in every 15 minutes all day on Saturday and Sunday at the grand opening of Ballymore’s West Hampstead Square development. Many apartments had already been sold to ‘preferred’ clients before the launch, but it now seems that most have gone simply from the plans.

    The rest of the West Hampstead and South Hampstead residential sales market has continued to reflect this voracious demand, which we see across the capital. More than 300 London estate agents recently reported buyer registrations up 50% year-on-year while new instructions are up only 17%. This makes a tight housing market even tighter, and pushes prices even higher.

    Such has been the pace of this demand that I have recently found myself in the unusual situation of renegotiating prices upwards on sales that were only agreed two months previously. That’s a very high price for buyers to pay for delayed and slow conveyancing, and even more reason to make sure all your ducks are in a row and your lawyer on board when you make an offer.

    As is becoming increasingly reported, most of the demand in London is being driven by overseas investors or wealthy UK-based individuals who are looking for somewhere to park their money. It’s odd to think of these buyers being prepared to spend such huge sums on property in areas they must surely often know little about. I can’t imagine many British people taking the same plunge in other foreign capitals. Nevertheless, their appetite seems insatiable and it’s happening in West Hampstead as much as anywhere. I actually sold a £3 million house to a Middle Eastern national who had never seen the property until the day he picked up the key!

    Could there be a glimmer of hope for Londoners who live and work here? We’re starting to see signs of an oversupply in the lettings market, meaning that rental prices are falling in order to compete. Could a fall in yields and longer periods of empty properties deter investors, or cause them to capitalise their assets sooner? There is no doubt that sale prices will start to weaken if the rental market does suffer from over supply, as it is these investors who have kept prices high. This trend could become even more pronounced if significant numbers of renters take advantage of the Help to Buy scheme and therefore take themselves out of the rental market.

    On a more personal note, I feel moved to set the record straight on what I see as the farce that is the Evening Standard’s ‘Diary of an Estate Agent’. I doubt this regular Wednesday column is top of most people’s must read list, but I get drawn to it every week. I guess it’s because I seek reassurance that my day-to-day experiences are mirrored by my competitors and thus that all is well in the world.

    However, every week, some agent (normally from Knightsbridge) seems to have packed an entire lifetime’s events into five working days! Their witty anecdotes normally involve animals straight out of You’ve Been Framed videos, or swearing parrots that have reserved their hilarious commentary for the precise moment our agent steps through the door with his unsuspecting applicant. Fancy that. These viewings also seem to coincide (with astonishing regularity) with natural disasters, unruly children, leaks, non-English speaking tenants, Laurel and Hardy style building sites, buckets of water, uncontrollable bodily functions and general hilarity. Of course, it also always happens to be the week that the biggest deal in the history of the company was struck by the hero of the hour.

    If only my weeks came anywhere close!

    Darryl Jenkins
    Associate Director
    Benham & Reeves
    West Hampstead
    020 7644 9300
    Follow @BenhamReeves

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  • Property of the Month: November

    Property of the Month: November

    This month’s property from Benham & Reeves is a four-bedroom ground-floor apartment in Greencroft Gardens with a large conservatory and substantial garden.

    Greencroft Gardens, South Hampstead, NW6
    £1,650,000 Sole Agent

    An exquisite and impressive 4 bedroom garden apartment forming part of a large period house on Greencroft Gardens. The property has unusually high ceilings which instantly provide a ‘wow’ factor when first viewing, especially the reception room which is nearly 30ft in length and opens on to a bright conservatory to the rear of the building. This, in turn, leads to a patio and a well stocked, lawned 60ft rear garden. There is also the added convenience of a private parking space (available on a long term rental agreement) and the transport links of either Finchley Road or West Hampstead are within easy reach.

    4 bedrooms * 2 bathrooms (1 en-suite) * reception/dining room * study * conservatory * kitchen * garden * parking space for one car
    Share of freehold

    West Hampstead Sales Office | 020 7644 9300
    106 West End Lane London NW6 2LS | Email:
    http://www.b-r.co.uk/property/details/100123058

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  • Barcelona or West Hampstead?

    Barcelona or West Hampstead?

    As London property prices go through the roof, and West Hampstead seems to be experiencing a bubble within a bubble, it’s easy to forget that rental prices are creeping up too. With so many people unable to buy, renting is the only option and people are prepared to/being forced to pay substantial sums to live in a nice part of town.

    Former Maida Vale resident Sam Cookney would like to live in West Hampstead (it’s a natural aspiration), but he’s finding the rents pretty steep. The average monthly rental for a 1-bed in NW6 is £1,500. However, he’s a regular visitor to Barcelona which got him thinking…

    A few sums later and he’s worked out that (with the caveat that he’d have to work one day a week from his new Barcelona home), it would be cheaper for him to rent a 3-bed flat in an equivalent Barcelona neighbourhood and commute to London than to rent in West Hampstead. By which I mean commuting every day. And yes, that includes travel to and from the airport. In fact he’d save the best part of EUR 400 each month.

    There’s a huge downside to this – it’s called Ryanair. Obviously, the travel time and risk of delay etc. means this isn’t a practical suggestion. Of course, it’s also going to be true of lots of places in Europe, but for Sam – who speaks Spanish and loves Barcelona – it must be sorely tempting.

    Read the full story on Sam’s blog (which is otherwise entirely about burgers).

  • Property News: Renters are people too

    Property News: Renters are people too

    When choosing an area to live in, what is your main priority?


    Place your vote and we’ll update you on the results on Twitter next week.

    There is a common assumption that tenants are not invested in their local area and don’t care about what is going on. When the #whampforum was hosted in May it exposed the views of a minority that ‘young people aren’t invested in the area emotionally or financially because they don’t own property, so why would they care’. That’s a huge assumption and one I would dispute in my experience.

    Tenants have often been considered a transient part of the population, but this is no longer always the case. The tenants we let property to have researched different areas and made a choice to move to West Hampstead. Many will rent for several years in the same area and are just as invested in the local community as those who own a property. Their priorities might be different (a family who own their home are more likely to participate in the free school debate than a single professional renter) but this has little to do with property ownership.

    For some, renting is a stepping stone to home ownership. One benefit or renting is that it allows you to trial out life in an area before committing to staying for longer and this type of tenant is likely to have a very vested interest in the strength of the local community. Reasons for renting aside, considering that 44% of households in West Hampstead live in private rented accommodation (12 percentage points higher than the average across Camden), tenants are clearly essential to the future of the area, economically, politically and socially.

    West Hampstead is renowned for its local village feel and community. There are numerous resident groups and local organisations that are incredibly active for an area of London. West Hampstead is unique because the high street continues to thrive with popular independent shops, restaurants and cafés and tenants are essential for their future. West Hampstead used to be considered the Ugly Sister of the area compared to St John’s Wood and Hampstead. Nowadays it is less of a thoroughfare and more of a destination in its own right, catering to its residents with local shops that thrive as they meet the community’s needs.

    It wouldn’t be right to talk about the local community without mentioning Twitter. It is an incredible source of local information (often helpfully curated by @WHampstead) and provides a resource and real life social network for those new to the area. The #whamp hashtag, with its various suffixes, has solidified the community, engaging and activating local people irrespective of housing tenure.

    As an estate agency it has always been important to us to get involved in the local community, socially and financially. We are proud to support local businesses and have done so since our inception. We take advantage of local and independent services wherever possible; from the printers we use to the independent restaurant we have team meetings in.

    Last year we designed cotton bags to help launch the West Hampstead Farmers’ Market, which has become an asset to the area. Every Saturday we look out of our office window and see how popular it is, with regulars returning week after week. Due to the popularity of the bags we recently decided to print some more with a new design. We worked with an illustrator just as passionate about the area as us to create our very own West Hampstead map, and although all of our favourite independent shops couldn’t fit on the design we hope it sums up what is special about the local community.

    Please pop into our office to collect your free #whamp bag.

    Spencer Lawrence
    Lettings Director
    Paramount Properties
    150 West End Lane
    West Hampstead
    020 7644 2315

     

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  • Property of the Month: October

    Property of the Month: October

    This month’s property from Benham & Reeves is a two bedroom apartment on West End Lane itself, with a private garden,

    West End Lane, West Hampstead, NW6
    £695,000 Sole Agent

    A superb opportunity to acquire this beautifully presented, light and airy two bedroom apartment found in the heart of vibrant West Hampstead.

    Presented in excellent decorative order with high ceilings, original cornicing and also boasting a westerly facing private garden, the property is just moments from the numerous cafes, boutiques and transport links of West End Lane.

    2 bedrooms * bathroom * reception room * kitchen * garden * residents parking zone

    West Hampstead Sales Office | 020 7644 9300
    106 West End Lane London NW6 2LS | Email:
    http://www.b-r.co.uk/property/details/300218008

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  • Property News: Could the bubble burst?

    Property News: Could the bubble burst?

    Finally, the quieter summer months are behind us and we can look forward to the autumn market.

    Although we have agreed a good number of sales in the last couple of months, viewing numbers and new applicants have been down at normal summer levels, so there haven’t been many clues about what to expect next for the West Hampstead property sales market.

    If we look at the column inches dedicated to the ‘house price boom’, it would seem there is only one way for house prices to go. This has been reenforced by Mark Carney, the new Governor of the Bank of England, who has pledged to keep interest rates low for the next three years, or until unemployment reaches an acceptable level. The government’s ‘help to buy’ scheme has also been a huge success.

    On the other hand, some reports tell us that we are creating another bubble that is sure to burst. Historically, property markets tend to boom and bust; will this be any different? Are buyers confident of making a commitment now sensing further rises, or have price increases and the rising cost of living made properties in London unaffordable for many people? With several new instructions to bring to the market this week I will have a much clearer idea on buyer sentiment very soon.

    According to economics text books, the London property market does not behave normally. In a free market, equilibrium is found through a price mechanism that reacts to changing demand and supply. This assumes that suppliers react to increasing demand by producing more goods or services. The reality of the West Hampstead property market is that there are very few new sites available to build on and those that are can take years to come to the market thanks to planning and local authority red tape, not to mention the time to design and construct. The result is that the market is largely made up of churn of existing stock, so, when demand rises, the only response is a rise in price.

    This is obviously a very simplified overview but fundamentally explains why London prices continue to rise and will almost certainly carry on doing so over the next few months. There simply don’t seem to be any immediate factors that might alter the level of demand.

    West Hampstead’s very own Mr Carney tells us that he has mechanisms available to cool the housing market other than interest rates, and it will be very interesting to see if he can indeed stabilise a market that is susceptible to ‘boom and bust’.

    At a more local level, it seems that Ballymore is benefiting from this strong demand. Stories reach us that many of the units in West Hampstead Square are being sold to existing preferred customers ahead of the launch date. Could this mean they are rethinking pricing levels, which are already at approximately £850 per square ft? Maybe we will have scenes comparable with the Boxing Day sales to look forward to at the official launch!

    Darryl Jenkins
    Associate Director
    Benham & Reeves
    West Hampstead
    020 7644 9300
    Follow @BenhamReeves

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  • Property of the Month: September

    Property of the Month: September

    This month’s property from Benham & Reeves is a three bedroom apartment over the top two floors of a Greencroft Gardens mansion block. It also has a roof terrace with views across the city. .

    Greencroft Gardens, South Hampstead, NW6
    £1,100,000 Sole Agent

    A stylish three double bedroom apartment arranged over the top two floors of this exceptionally well maintained purpose built mansion block, located on one of South Hampstead’s sought after premier roads. The property boasts a master bedroom with en suite, off street parking and an unofficial roof terrace with spectacular views across the city. High ceilings and original features contribute to an overall impression of grandeur, volume and light. Greencroft Gardens is a highly regarded treelined road, perfectly located for the many amenities and numerous transport links of both West Hampstead and Finchley Road.

    3 bedrooms * en-suite bathroom * shower room * reception/dining room * kitchen * unofficial roof terrace * private parking space * residents parking zone
    Share of freehold

    West Hampstead Sales Office | 020 7644 9300
    106 West End Lane London NW6 2LS | Email:
    http://www.b-r.co.uk/property/details/200226592

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  • Wealthiest renters in West Hampstead?

    Wealthiest renters in West Hampstead?

    I was lucky enough to be given a guided tour of the new student accommodation on Blackburn Road a couple of weeks ago.

    Bedroom in shared flat

    The building opens on September 1st, though the majority of students move in to West Hampstead a fortnight later. Contrary to my assertion some months ago, there are some British students, though as of two weeks ago the split was about 50/50. There is also a high share of postgraduate students taking up spaces.

    It’s impressive inside, as it should be – the students are paying top-whack to live amongst us whampers. There’s also a rather nice courtyard area, which in good weather should be a good place to sit/lie out with a book.

    I was shown, unsurprisingly, one of the nicest flats – on the north-east corner of the building with tall glass windows in the communal area. These flats are shared by eight people, each of whom has an en-suite bedroom while they share the living room/kitchen area.

    There are also studio apartments with a self-contained kitchen area. I much preferred these myself. The one I saw, which was a larger one, was actually pretty spacious although it was unfinished!

    Weekly rents start at £199 and go up to £259 for the “penthouse”. More than many people’s mortgages, though that includes concierge, secure bike parking, communal areas, a screening room and the all-important superfast broadband. TV licences are extra (and of course streaming television content through your laptop requires a licence). Cleaning services are also available at an extra charge. Using the power of Twitter I’ve put together some top tips for the students, although my definitive top 10 tips are going into their Welcome Pack, so I won’t spoil the surprise for any students reading this now!

    Dining area in large flat
    There’s another identical kitchen unit out of sight
    The view of the Travis Perkins yard
    Courtyard chess
  • Student living – the West Hampstead way

    The first students move into the new Blackburn Road block on September 1st, with the majority coming on the 14th. I asked people on Twitter to come up with some top tips for them, and here’s the result!