Estate Agent or Letting Agent – What’s The Difference?

Posted by on Jul 10, 2015 in Property rentals | Comments Off on Estate Agent or Letting Agent – What’s The Difference?

If you are new to the property market, things can quickly become overwhelming. The mountains of information, seemingly limitless decisions to be made, and a mind-blowing amount of jargon can soon wear you down. Where do you start?

estate and letting agentWell, let’s take things one step at a time and begin at the beginning. Do you know whether you would like to rent or buy a property in the UK? If you have already made up your mind you’re already ahead of many people who simply cannot decide between the two.

Once you know which way you are going to go, you’re going to need some help, and this is where the question posed in our title becomes significant.

Estate agents

An estate agent is a person who helps to facilitate the sale or rental of residential, commercial and/or other buildings. Although estate agents are capable of, and allowed to, deal with rental properties, the term estate agent is generally associated with the sales aspect of property dealings.

Estate agents will handle the marketing of a property for sale and help the seller bring in suitable prospective purchasers for their real estate. A good estate agent should be able to demonstrate an in depth knowledge of the local area and show the seller that they are aware of market fluctuations within the region that they operate. Knowledge of future developments in and around their area will also help them to accurately assess how the local market is likely to perform in the coming months and years as well.

As of the 1st April 2014, estate agents across the UK are now answerable to Powys council who have taken over the regulatory role once performed by the OFT (Office or Fair Trading). The Welsh council are able to issue warnings to any estate agent who does not follow industry guidelines or one who acts dishonestly. Banning orders can also be issued for persistent repeat offenders.

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Letting agents

Letting agents, unlike estate agents, are responsible solely for the residential rental market. Where estate agents can deal with rental properties as well as sales, letting agents do not enjoy the same freedom. That said, many letting agents will work under an estate agent or agency, and this is often where much of the confusion lies.

A good letting agent will be able to not only facilitate an agreement between the tenant and the landlord, they will also be responsible for the marketing of the property too. Their ability to show landlords that their past endeavours in the local market have been successful will go some way to demonstrate that they knowledgeable and reputable.

UK letting agents are not required by law to be regulated at present, although there are some accreditations that both landlords and tenants should keep an eye out for. The National Approved Lettings Scheme (NALS) or the Association of Residential Letting Agents (ARLA) both have guidelines and codes of practice for responsible letting agents to follow and knowing that your agent is a member can go a long way to providing a certain amount of peace of mind to prospective clients.

In a nutshell, if you are looking to either buy or sell a property you will need an estate agent to help you complete your move. If, on the other hand, you are entering into the rental market – either as a landlord or a tenant – a letting agent is the person you should be speaking to.

Letting Agents In Gosforth, Newcastle upon Tyne

Groves 143 High Street Gosforth Newcastle upon Tyne NE3 1HA

Tel: 0191 246 6666

Reed Rains Harewood House 49 Great North Road Gosforth Newcastle-Upon-Tyne NE3 2HH Tel: 0191 284 4853
Redstones The Grainger Suite Dobson House Gosforth Newcastle upon Tyne NE3 3PF

Tel: 0191 233 6342

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Effective Tips to Be a Happy Tenant

Posted by on Jul 8, 2015 in Property rentals, Tenants | Comments Off on Effective Tips to Be a Happy Tenant

Being a tenant is not easy. Tenants across the UK can face numerous problems casued by their landlords. some of which can end up in court. With the heating up of the UK property market and the rise in house prices it has meant an increased demand for rental property. More potential tenants are now competing for each property.
This article offers some tips to help tenants rent properties in a hassle free way. Carry paperwork: When competing for renting, the most effective way to persuade a potential landlord is being prepared. To get an edge over the rest of the applicants, carry these along with you when you go to visit the landlord – a current and updated credit report copy, references in writing from colleagues, employers and previous landlords and a complete rental application.
Review the rental lease: Review each and every condition in the tenancy agreement carefully, prior to signing on that dotted line. A rental agreement or lease may have one or more provisions, which are unacceptable for you, such as restrictions on operating a home business, design modifications, pets and guests. Get everything in written form: Obtain everything in written form for preventing misunderstandings and disputes with your landlord.

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Copies of all correspondence should be kept and create a letter out of an oral agreements with the landlord. The letter is a proof of your understandings through the oral agreement. During your tenancy too, keep everything in written form. For instance, if you request a repair to your landlord, make a request in written form and have its copy with yourself. If the landlord gives his consent orally, send him a letter as a confirmation. Safeguard your privacy rights: Apart from disputes on security deposits and rents, other common misunderstandings can arise, which can often become contentious.

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This problem is related to the right of the landlord to enter the rental unit, and the right of the tenant to have privacy. Tenants should understand their privacy rights. For example, they should what notice the landlord needs to give prior to entering a rental unit. Such knowledge will help you protect your privacy rights. You can get all valuable information on privacy rights of tenants with the help from a letting agent.

Demand repairs if necessary: Tenants have the right to stay in rental units with habitable conditions. Landlords are bound to provide livable conditions to tenants such as structural safety, sanitary hygiene, cleanliness, heat, electricity, water and weatherproofing. In case your rental unit does not have livable condition and needs repairs, you can take several actions like withholding a part of the rent, paying yourself for the repairs and reducing that amount from the rent, and calling building inspector.

With these tips, you can make sure to have hassle free tenancy tenure. Real estate agents can help you find suitable properties for renting in your desired neighbourhood. Summary: Tenants face a number of problems while renting. Understanding your rights and responsibilities goes a long way to ensuring a positive experience. http://www.nihe.gov.uk/index/advice/renting_privately/advice_landlords/general_guidelines_landlords.htm

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How the government can help you buy a home

Posted by on Jun 30, 2015 in Real Estate | Comments Off on How the government can help you buy a home

You can find a ton of new terms and info to find in case you’re a beginner in to house-purchasing. You may actually think you cannot pay for a home based on your present month to month earnings, which can be overwhelming. In this scenario, nonetheless, you will find government programs that may help individuals simply like you.

The Federal Housing Administration have the capacity to help subjects affected by the financial emergency buy homes, it was created during the Depression period in the 1930s as a government program. The USA’s principal goal has been to help individuals with small to average earning ranges get housing loans.

Because they guarantee the banks that are specifically supplying the loan to the new home proprietor, the Federal Housing Administration has the capacity give such mortgages. The government will handle the misfortune that the loan supplier encounters if the new home owner stops paying their mortgage. The main government program that is 100 % independent accordingly in that way is the USA.


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No cash is obliged to be paid by taxpayers to have the capacity to maintain it in business. Otherwise not able to pay for their very own house, the USA makes homes obtainable to many individuals as the years progressed.

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Essentials still should be met, despite the fact that the standards for mortgage acceptance are reduced in the USA program. The individual applying for the mortgage ought to have the capacity to put 3% of the loan quantity down in cash, as one of many prerequisites. For a few individuals, this may well be too much a total to save up for.

You cannot have encountered a foreclosure on a past home in the past 3 years too, even with not possessing a brilliant FICO assessment.

Various components must be assessed in determining whether or not a USA loan is all in all correct to suit your needs. Keeping in mind the end goal to qualify for this kind of loan, you still must satisfy certain conditions. A USA mortgage is without a doubt deserving of considering, however, in the occasion you do have a poor FICO assessment or small income.

How often have you turned down a residential road to see a “For Sale” sign planted on a front lawn? How often have you wished you could put an offer on a house, and move into your one of a kind home without having to stress over going through a lease and obeying a landlord’s standards? In this age of financial uncertainty, it may appear an unthinkable dream to buy a home, however there is some uplifting news not too far off. As real estate costs are anticipated to fall from 2009 through 2010, one may have the capacity to find a decent home at a great cost.

The inquiry then turns out to be, how does one buy a home with so minimal down? You may be concerned in the event that you can keep up payments, however there is assistance you may not realize exists. Did you know you could qualify for a government grant or loan to help with the up front installment and closing expenses on a home? In the event that you know where to look and where to apply, you could get several thousand dollars to use toward making a house purchase in the US.

For first-time buyers, however, Virginia has no particular grant programs. This doesn’t mean, however, you can’t apply for a grant or loan to buy a home. There are other open doors available. When you visit the site of the US Department of Housing and Urban Development you can research your choice and pick a program that could assist you in your home-buying endeavors. Another great government site to skim is Grants.gov, which records available government assistance to subjects who qualify.

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