2009 has seen steady growth with more and more ‘RTM’ companies approaching Parker Barras looking to reduce costs whilst improving service especially in Southern England, to enable Parker Barras to offer the high levels of customer service they have just signed a lease at 5 St Johns Lane, London EC1M 4BH, they hope to occupy the premises by January 2010.
John Taylor…. ‘’ 2009 has seen amazing growth and more and more residents are switching to us, we deliver high levels of customer service which is paramount to our business model and the new London office will enable our future growth to be managed whilst improving the customers experience, our company is all about working together with residents and developers to assist in the smooth running of the development.’’
UK Property Market Boosted As Banks Seek To Lend
posted @ Tue 06-10-2009
The number of financial institutions willing to provide debt for commercial property deals in the UK has almost doubled, according to new research by Savills, boosting hopes of substantial recovery in the market.
Residential Rental Market Picking Up As Tenancies Increase
posted @ Wed 30-09-2009
THE residential rental market is beginning to stabilise with property oversupply decreasing across the UK and the number of new tenancies increasing, according to the Association of Residential Letting Agents (ARLA).
Results from the latest ARLA survey of its members show that the historical decline in numbers of tenants, which led to a surplus of properties to rent, is coming to an end.
RICS has begun its long-mooted inquiry into the residential management agency sector.
A committee that will investigate transparency issues in the sector, including inflated management costs, insurance commissions and unfair valuation fees for residents, met for the first time last week.
RICS first revealed plans for the inquiry two years ago.
The 10-strong working group is chaired by RICS president Peter Goodacre and vice-president Max Crofts, and includes: Chainbow chief executive Roger Southam James Purvis, founder of James Purvis Insurance Consulting and RICS directors David Dalby, Keith Richards, and David Pilling. It hopes to report on its findings within a year.
Pilling said: "This working group is going to look at what services are being provided, for what fees, and whether residents know what they are paying for. We want to see if there is a problem."
Southam said he believed that the problem of inflated management fees was widespread. He said a "lot of eyes" had been opened at last week's meeting and that he hoped RICS would move quickly to implement new rules to crack down on the practice.
The committee was formed in response to concerns that have been raised on this issue by members of both RICS and other industry organisations.
A spokesman for the Association of Residential Managing Agents, said it was pleased to hear about the consultation: "We've been calling for regulation of long leasehold management for years. We're worried that anyone can set themselves up as a property management agent and charge what they like."
The working group is set to meet again in February.
The RICS Must Ensure Transparency For Block Insurance
posted @ Tue 23-12-2008
Peter Bill, 15 November 2008, Estates Gazette
The mill wheels of the RICS turn slowly: it has taken two years from an original promise to set up an inquiry into the business of residential block management for it to happen. But it must now be hoped that the stones grind fine enough to allow a thorough sifting of one issue that needs thorough inspection: insurance charges.
Residential managing agents perform a set of complex tasks for slim margins. The majority do the job with courtesy and efficiency, despite being forced to deal with more than their fair share of obsessive grumblers. It must be hoped that the inquiry led by RICS president Peter Goodacre will find that no more than a small minority of agents are indolent, incompetent or worse.
But block insurance needs deep examination because it is where freeholders, headleaseholders, agents acting as brokers, IFAs, and sometimes managing agents, can charge exorbitant commission. This practice can lead to 40-100% costs on top of the real cost of insuring the block. The practice was exposed in EG in June 2006, and led to this inquiry.
There is a perfectly simple way to stop overcharging: all managing agents wishing to trade under the RICS banner must be obliged to provide leaseholders with a bill that shows exactly what was paid to the original insurer - and who gets what fees on top. The inquiry should call for complete transparency. This will mean spending many months overcoming the objections of those with a vested interest in keeping things opaque. So, let's give the RICS just a little more time.
