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As professional letting agents in London, Proper Local Estate Agents have seen a number of first-time homebuyers. Our general rule of thumb is to make the process of buying your home for the first time as easy as possible. There are however many mistakes that can be made when viewing property on the Isle of Dogs or looking at property in east London. Here are some of the top mistakes and how to avoid them:
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It’s the question asked by many, many tenants – Why do I have pay so much money to the letting agent to secure a property?
It’s a fair question, and here’s a straightforward answer – other agents charge high tenant fees purely and simply because they can (at the moment).
Whereas other agents have looked at tenant and tenancy administration fees as a source of income, we’ve never believed that it should be like that. We believe that fees charged to tenants should be fair and commensurate with the work, or indeed underlying costs, actually involved.
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Lanterns Court consists of three highly desirable residential apartment buildings. Denison House, Cobalt Point and Trinity Tower. Denison House compromises 292 units, Cobalt Point 167 and Trinity Tower 54.
Developed by City & Docklands and completed in 2010 Lanterns Court is something of a Canary Wharf mainstay. Located just off Millharbour, under a 10 minute walk away from Canary Wharf, it is arguably one of Docklands’ most prestigious residential addresses.
The development benefits from 24 hour, 7 days per week concierge, whilst the residents’-only gymnasium is located beneath Cobalt Point.
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As an estate agency currently tracking at 5 out of 5 stars with our Feefo reviews you might think that we think we’ve got this selling and renting lark down to a tee. But do we? No.
OK, so that might be a bit overly-humble – we do know what we’re doing of course – but the point is this: do we, as estate agents, truly understand what our customers want from us?
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We all know that Canary Wharf, and the E14 area in general, is going through a period of unprecedented change right now, but are you actually finding it difficult to rent your property?
Whilst we have written this article with the E14 area at the forefront of our minds, we do believe it contains advice which is transferrable across different sets of market conditions and geographical areas.
1. Excessive stock levels mean everything is taking longer to let
We’ve worked in all kinds of rental markets over the years, in different geographical areas across London, so whilst we’ll stop short of saying that we’ve seen it all, we have seen a fair bit.
When any large new development completes there are always those landlords that get ‘lucky’ and rent their property very quickly, but by the same token there are always landlords that get unlucky and it takes longer for their property to let. And often there’s no particular reason why some properties take longer than others – its purely down to over-supply of a particular unit type in a distinct geographical location.
Supply is one of E14’s biggest problems right now, particularly an over-supply of two bedroom apartments, but it will rent eventually. Let’s put some numbers behind it so you can see where we’re coming from.