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Lettings Update – July 2019


1st June 2019, a watershed moment in the lettings market!

The introduction of the tenant fee ban was expected to sweep through the lettings market like a hurricane, with agencies taking different approaches on how they will deal with the aftermath and many hiking prices to landlords. It was felt that these changes would mean chaos in terms of deals falling through and tenants walking away from agreed lets with impunity.

Many also expected that May would be a slow month, with tenants waiting for the ban to come into effect. However, we are pleased to be able say that the months of planning and consideration of the best way forward has lead to a smooth transition for our clients. The measures we have put in place to make sure deals progressed worked, meaning May and June have been equally as strong as we push into the prime summer months. Our clients have also expressed an appreciation of the choices of services we have offered and the extra protection we have included such as rent protection.

The lettings market in London traditionally heats up in line with the weather and this year is proving to be no different. We are finding demand in our keys areas in Prime Central London is fantastic and we have been letting a number of properties for asking price and on the first batch of viewings.

As always, to make the most of this time of year and the increase in tenant activity, properties need to be marketed to the maximum number of applicants. We at Madley are able to offer your properties on both of the main portals, Rightmove, Zoopla as well as we host of other sites.  We are now also using state of art automated camera equipment that as in addition to the normal high standard professional images also captures amazing 3D walkthroughs, floor plans and videos for our sole agency clients!

MP Estate Agents Ltd. Company number 12576693
2 Plough Way, London, SE16 2EU. VAT number 942264820