There are many reasons for a property owner to decide whether they want to repair their damaged, leaking roof or opt for a full roof replacement. In some instances it is not even up to the property owner, for example when insurance is involved. If you roof is damaged or
Fires can happen to anyone and at any time, with or without warning, and when it does happen it is more important to make sure that everyone is safe before trying to save the property. More often than not, fires can ravage a home, a business and any other property,
First-time drivers may feel that they already know everything that they should do when they are on the road but actually, there are still a lot more that they have to know before they can ride their cars freely. You may not really think about car insurance when you are
Mother Nature is usually wonderful, beautiful, and stunning, but every once in a while, it can be a cruel and unforgiving parent to us all. We, of course, refer to the natural disasters that can strike anytime, depending on your location and the season. Hurricanes, storms, floods, earthquakes, and fires
Property developer Futureal Group has sold its Advance Tower located on the Váci road office corridor to Erste Real Estate Fund. This is the first transaction in the Hungarian market, which includes a WELL pre-qualified office building having a beneficial impact on employees’ health and comfort. The real estate fund
Bluestone National Park Resort today announces the opening date for its £7 million Dome – a groundbreaking ‘giant umbrella’ William McNamara CEO and Founder of Bluestone said: “This is the first of its kind in the UK which will create an additional 55 jobs and boost the local economy by
Leading independent construction, property and management consultancy, Rider Levett Bucknall UK (RLB UK) has announced today Liverpool based cost management consultants, Todd & Ledson will join RLB as part of its UK growth strategy. Consolidating RLB’s presence in Liverpool and strengthening its expertise in the North where it already has
Tenant Shop, an Inchora company is delighted to announce that it has entered into a new partnership with Reposit in order to provide a security deposit alternative product within its portfolio for agents, landlords and tenants. Tenancy deposits have traditionally comprised six weeks rent and despite the cap in the
Reposit, the company changing the way landlords, agents and tenants handle deposits, has announced its latest partnership with property management company Way of Life, providing all customers with an alternative to the tenancy deposit schemes. The InsurTech firm operating in the PropTech space, has also unveiled an extension of its
Ultra-wealthy tycoons have triggered a boom in sales of U.K. mansions, taking advantage of softening property prices in the wake of uncertainty over Brexit. Figures gathered by property lender Octane Capital show a surge in so-called “super-prime” purchases, defined by some experts as properties costing in excess of £10 million
There are many reasons for a property owner to decide whether they want to repair their damaged, leaking roof or opt for a full roof replacement. In some instances it is not even up to the property owner, for example when insurance is involved. If you roof is damaged or leaking, you may be considering repairing the damaged area or investing money in a complete roofing system replacement. This article will cover some of the top things to consider when making this decision. Architectural Asphalt Roofing Shingles vs. Old Three-Tab Shingle Roofs The two main types of asphalt shingle roofs are, 1) old 3-tab shingles and, 2) architectural asphalt shingles. Many roofers prefer to only install architectural asphalt shingles. Hanover PA roofing contractor JWE owner Jeff W. Erb says that he never recommends 3-tab shingles, and only feels comfortable installing architectural asphalt shingle roofing. “I have been working on roofs for over 20 years and I’ve seen thousands of failed roofing systems. In my experience, the old 3-tab roofs are inferior to the newer architectural asphalt shingles in terms of durability and leak protection. Architectural asphalt shingles are more desirable not only because of their aesthetic appearance and the high-definition look they provide, but because of the lifetime warranty provided by roofing product manufacturers. It’ll be the last roof you ever need for your home”. Lifetime Warranty for Architectural Asphalt Shingle Roofs Erb is referring to the ‘out-of-the-wrapper’ warranty provided by shingle manufacturers like GAF, IKO and CertainTeed on their roofing products. Furthermore, roofing installers like JWE who are factory-certified by these manufacturers are able to register their customers new roofs for extended, full-coverage, “lifetime” warranties that exceed 30, 40 and even 50 years (depending on the manufacturer). These extended warranties are only available for architectural asphalt shingle roofing system installations, so if you have a 3-tab roof that is due for a replacement it is well worth the money to invest in an architectural asphalt shingle roof. When it comes to quick roof repairs, most roofers do not guarantee that their work will stop the leak for an extended period of time. In order to warranty their work, roofers want to know that their installation is done properly, and this just isn’t possible without removing the existing roof. Roofers therefore prefer to address the roofing system in its entirety, which we will discuss in the following section. Roofing System Anatomy: Components are Difficult to Repair, but a Roof Replacement Addresses the Entire System A building’s roof is more than just a layer of shingles or sheet metal. A roof is a system of barriers that work together to protect from water, leaks, wind, storms, hail, energy loss, and more – the shingles are simply the outermost visible layer of the roofing system. If that outer layer of shingles has failed to the point of water leaking into the home, it is likely that there is damage to inner barriers like underlayment, roof deck plywood, flashing (like chimney- and step-flashing), vent-pipe boot leaks, and more. It is rarely the case that the source of the leak can be easily identified in a way that makes a simple repair possible without having to remove large sections of the roof. In most cases a full roof replacement is the most effective way to thoroughly repair the leak. During a full roof replacement all the components of the roofing system are replaced, and the roofer is therefore confident that their installation will last for decades to come. NOTE: Metal roofing is becoming increasingly popular, and if your asphalt shingle roof is due for a replacement you may want to be one of the many homeowners who are considering updating to metal roofing like standing seam, metal shingles or corrugated steel. They are far more durable, last much longer, and are unlikely to leak or suffer storm damage. Some types are not much more expensive than asphalt shingle roofs. Learn more about metal roofing services costs, benefits, etc. Dealing with Insurance Claims for Roof Damage Caused by Storms and other Covered Perils Roofs are the most common part of a house that are paid for by insurance companies. Most roofing contractors have the majority of their work paid for by homeowners insurance, and they are all painfully aware of the fact that these insurers have a profit motive to pay out as little as possible. This usually results in approval for bare-minimum repairs rather than full replacements. Ultimately this causes more hassle for the homeowner, who will inevitably have to shell out money for future repairs or a full roof replacement sooner than they would have otherwise had to. It is possible for savvy homeowners to get the most out of their insurance provider for their roof damage repair claim if they hire the right roofing contractor, many of whom are partnered with public insurance adjusters who are experts at getting claims approved. They are usually hired on a contingency contract that holds the homeowner accountable for no more than their deductible. Hiring a professional loss adjuster like this is a win-win for owners dealing with home damage because the contractor’s goal is to get the full extent of work approved and paid for. CONCLUSION: Most Professional Roofers Recommend a Full Roof Replacement The fact that most roofers usually recommend replacing a leaking or damaged roof is not a dishonest ploy to upsell property owners. As we explained above, it is hard for a professional roofing contractor to guarantee a small repair because it’s almost always impossible to determine the source and cause of the leak. Furthermore, roofing manufacturers do not warranty their products unless the installation of three or more roofing system components accompanies their shingles, so anything short of a replacement is missing the opportunity for a lifetime warranty. The good news is that a roof replacement is often the last roof a homeowner will need to get. The lifetime warranty on architectural asphalt shingle roofs is transferable to the next
Fires can happen to anyone and at any time, with or without warning, and when it does happen it is more important to make sure that everyone is safe before trying to save the property. More often than not, fires can ravage a home, a business and any other property, as fires can go on burning until it ran out of oxygen or all that could be burned had already been burned. Most of which actually is the latter, thus, those who have had the misfortune of having their properties burned must navigate through all the issues and problems in order to rebuild their properties. It is a legal requirement to take out a fire insurance policy on any property that you plan to purchase, since fires are the most common accidents that could happen to destroy your property. However, making a fire insurance claim is much difficult and complicated than it really is and you need a fire claim adjuster to make sure that you get the most of your insurance claims. What is a Fire Claim Adjuster? A fire claim adjuster is a public adjuster that has been licensed by the state to represent insurance policy holders who are filing insurance claims from their insurance providers. The responsibility of the fire claim adjuster is to ensure that the insurance policy holder gets the amount agreed on by their policy and whatever other benefits it may have in respect of their fire insurance claims. A fire claim adjuster is authorized to represent and negotiate with the insurance providers for the insurance policy holder, and by doing so will work for the benefit of the policy holder and not that of the insurance companies. Thus, they attend to meetings, inspections, negotiations, and prepare documents, reports and claims for the policy holders. They also make follow-ups, call insurance companies if they are taking too long to process the claims and ensure that you get paid as soon as possible so that you can also get to rebuild your home or property the soonest. Why You Need to Hire Your Own Fire Claim Adjuster? It is a reality that making a fire insurance claim and being compensated with the amount on your insurance policy agreement are two very difficult processes and even if you are willing to do this on your own, the truth is hiring your own fire claim adjuster is more cost-effective in the long run. With your own fire claim adjuster, you will be assured that your best interests are being protected and that the fire claim adjuster will make sure that your rights are protected and that you are represented in all meetings and proceedings. Most of the time also, insurance companies will not deal directly with the policy holder, they will have to assign a fire claim adjuster to be your representative, and this is not what you want or need at this time. Insurance companies will choose a fire claim adjuster and introduce him or her to you and will basically function in the same way as regular public adjusters do, however, these fire claim adjusters will not have your best interests at heart, instead they are working for the insurance providers and their only job is to see to it that you get paid with the minimum amount the insurance company wants to give you. Thus, it is better to hire your own fire claim adjuster who will work for your interests even if you had to pay them yourself, rather than accepting the offer of the insurance companies. How Do You Find A Fire Claim Adjuster? Insurance is a thriving business and there is good money to be made in it, thus, there are also a lot of establishments who do provide fire claim adjuster services, there are of course the expensive ones with stellar track records and the cheaper ones with less experience. Who to hire will depend ultimately on you own preferences and whether you want to take a risk on the new players or ensure the success of your claims with the more experienced one. You simply have to weigh it out and find one that will be a good fit for you. Someone you can communicate with, someone you can trust and who is really sincere and committed to working for your interests. You can find a fire claim adjuster in any of the businesses that specialize in this kind of things. But, you need to make sure that that service provider has the track record to prove that they are really good at what they do and they have verified and licensed public adjusters. You also would want someone that really has a physical office or location that you can go to, and schedule an appointment for a consultation, in that way you can actually get to experience how responsive they are to their client’s needs and decide for yourself whether you want to hire them for your fire insurance claim needs. Another way of figuring out which fire claim adjuster to hire is to ask for referrals from people you may know who have gone through the same experience as you did, and was either able to get the most from their insurance policy or not. Even if these people may not point you to the right fire claim adjuster, they can also tell you which ones to avoid. This is why experience and success rate is important, you would want someone who already have had the experience navigating through the complex process of making fire claims, someone who knows the language, has the right skill set and tools and one who can tell when insurance companies are playing hard or lowballing. You Now Have A Fire Claim Adjuster, What To Do Next? After the fire, and you and your family or employees are safe and without any injury, then you can move on to inspecting your property and assessing just how
First-time drivers may feel that they already know everything that they should do when they are on the road but actually, there are still a lot more that they have to know before they can ride their cars freely. You may not really think about car insurance when you are driving for the first time. You will probably think about where you are going to use your car, how you are going to use your car, and what your friends will think of the car that you have. Car insurance may be the least of your concerns. You should know now that car insurance is going to be important. You can check https://www.cheapautoinsurance.com if you want more details about the car insurance policies that are available for first-time drivers like you. The Most Cost-Effective Way The most cost-effective way that you can get car insurance is when you are added to another person’s policy. It is very possible that someone in your household already has car insurance. When you get added, this means that you will get the right benefits whenever you drive. When you are a first-time driver, you will be considered as a high-risk driver by insurance companies which means that your premium will be higher as compared to those who have been driving for a long time. The only option that is available for you is to make sure that you will be added to the insurance plan of a driver that already owns car insurance. Possible Discounts You May Get There are some potential discounts that the original car insurance owner may have that will lower all of your premiums even further: Bundling the car insurance with other cars of the household Bundling your car insurance with other insurance policies like home insurance, and so much more. Getting additional driving courses You need to prove that you are a good driver if you would take some driving courses that will show that you take driving seriously. Shop Around One of the best things that you can do is to check the different car insurance companies that are available. You can get several quotes from different companies and you should find the one that will provide the lowest rates possible. There are also some people who would like to pay the full amount the moment that they get their chosen policy. This can be very effective too especially when you are trying to save up. You will pay a lower amount initially and you also do not have to worry about subsequent payments until such time when you need to renew your policy again. In addition, every first time driver can also use a lawyer for many reasons. The most common reason is because lawyers have the knowledge and expertise to help individuals who have been involved in car accidents. They understand the laws surrounding car accidents, and they can help their clients to receive the compensation that they deserve. In addition, lawyers can also help first time drivers to avoid costly mistakes. For example, many first time drivers do not know how to negotiate with insurance companies. As a result, they may end up paying more for their insurance than they need to. Lawyers like Dennis Hernandez & Associates can help them to get the best possible rate. Finally, lawyers can also help first time drivers to navigate the legal system. This is especially important if they have been charged with a traffic violation. A lawyer can help them to understand their rights and options, and he or she can ensure that they receive a fair hearing. In short, there are many good reasons why every first time driver needs a lawyer. Good Student Discount Who says that your grades will not have an effect on the things that you have to do in life? The fact that you can get a discount when you have good grades may inspire you to pay more attention to your education more. You need to have a GPA average of 3.0 or higher so that you can get this type of discount. You may be required to provide them with a transcript that will show your recent grades so that you can prove that you have the grades that will make you eligible for this type of discount. Having good grades can make your parents proud and can lessen the amount that you have to pay for car insurance too. Consider the Right Vehicle Let us say that you are looking for the right vehicle that will be given to you by your parents or you will purchase with your hard-earned money. How are you going to pick the one that will work best? When you pick a luxury vehicle, you are going to pay more not only because the cars are more expensive. It will be ideal if you would check the vehicle that will work best for your needs. Since it is your first time to own a car anyway, you do not have to spend a lot of money on a vehicle yet. You can even get an older vehicle first and learn how to drive better with the use of this vehicle. The more that you know, the better that you will feel. Another way to travel would be by bus, you can find out more on how to book your Lubbock bus here. How to Minimize Premiums Further Young drivers can always minimize their premiums if they would make an effort to keep their driving record clean at all times. You can also install a safety device on your car so that you can have even lower premiums. When you commit yourself to drive with a clean driving record, you will have a chance to get lower premiums.
Mother Nature is usually wonderful, beautiful, and stunning, but every once in a while, it can be a cruel and unforgiving parent to us all. We, of course, refer to the natural disasters that can strike anytime, depending on your location and the season. Hurricanes, storms, floods, earthquakes, and fires are all pretty common natural disasters, especially in tropical areas. These things can cause a lot of damage to your home, so if you live in one of these tropical locations, you must always be prepared for all the disasters we mentioned above. Today, we are going to give you some tips on how to prepare your property for different natural disasters. First, make sure you have the right kind of home insurance Before we get into some practical tips on how to protect your home against natural disasters, you should know that in some cases, you simply can’t save your property from nature’s wrath. In these cases, it’s important to have the right kind of building and contents insurance. For example, if you purchase a policy that covers burglary and theft, that won’t help you in case of a natural disaster. Therefore, make sure to get a home insurance policy that will cover the damages caused by disastrous weather. If you live in Australia, which is one of those tropical areas where natural disasters are common, you should know that insurance companies like Youi cover the damage caused by this type of weather. Reinforce your roof, doors, and windows It’s safe to say that these things are natural weak spots of every house, especially during hurricanes and hailstorms. Hail and wind can do a lot of damage to your windows and shattered glass can hurt you and your loved ones. Therefore, make sure to reinforce your roof, doors, and windows by installing hurricane shutters. In most cases, these things will do the job, but if you want to be sure shattered glass won’t hurt you or your family members, you can use duct tape to make an X mark an all of your windows. Also, the curtains can also protect you from debris, so make sure they are drawn during the storm. Put your car in the garage and remove all valuables from your yard When a natural disaster strikes, a lot of people don’t think clearly. All they want to do is get inside, put on their hurricane shutters, and wait out the storm. However, most of them tend to forget their car and their valuables outside in their yard. The safety of you and your loved ones is paramount, of course, but you should also remember to put your car in the garage and remove all the things from your yard. Strong wind, hail, and other debris can cause a lot of damage to your car and your other possessions. These things cost a lot of money and there’s a chance your insurance won’t cover for them if you forget them outside during a storm. Build a safe room We are aware that this might sound like something from a disaster movie, but having a safe room in your home can protect you and your family during all kinds of natural disasters. You have to make sure that the walls and the doors in this room are strong and reinforced. Your safe room should have a few beds and some shelves stacked with canned food and water in case you have to stay there for a while. This room can serve as a utility closet or a storage room at other times when there is no danger from natural disasters. Have emergency supply kits in your home When a natural disaster strikes, it’s not just your home that’s in danger. All of your neighbors and local grocery stores will be damaged too. This means there is a chance that you won’t be able to acquire some food and supplies a few days during and after a disaster. You should always be prepared for a scenario like this. The best thing you can do is to build emergency supply kits and store them in all the rooms in your home. Items you should have in these kits are – canned food, water, first-aid kits, flashlights, a radio, and batteries. Make sure not to use supplies from these emergency kits during a safe period and you will be prepared when the time comes. Admittedly, natural disasters are not that common, but the worst thing about them is that they can strike at any time, usually when you least expect them. They can cause a lot of damage to your home and in some cases, they can even be fatal. This is why it’s always better to be prepared. Just because you’re not in danger today doesn’t mean you won’t be tomorrow. So, make sure to do all the things we talked about in this text and your family will be safe from harm.
Property developer Futureal Group has sold its Advance Tower located on the Váci road office corridor to Erste Real Estate Fund. This is the first transaction in the Hungarian market, which includes a WELL pre-qualified office building having a beneficial impact on employees’ health and comfort. The real estate fund has acquired the first phase of the complex developed by the group, while the second phase could join its portfolio under a forward deal. The first phase of the Advance Tower has already been occupied by tenants with 1,400 employees last year. The 8-storey, category “A” office building has been chosen by prestigious companies such as KPMG Global Services consulting company and Thermo Fisher Scientific, the world’s leader in serving science. The second phase with a GLA of 8,000 sq m will expand the complex to a total GLA of over 20,000 sq m, handover is expected in the second half of 2019. The transaction of the first phase of Advance Tower was completed in April this year, and the parties entered into a pre-agreement to purchase the second phase. Advance Tower has been awarded BREEAM certificates and the office complex has been designed and will be operated according to the WELL Building Standard™. Futureal Group is the first European property developer with three projects receiving WELL Platinum Precertification at the same time. The purpose of the WELL certification is to create office buildings that, in addition to protecting the environment, have a beneficial impact on employees’ health, well-being and comfort. Washington-based International Well Building Institute’s system examines buildings’ impact on the human body, health and wellbeing, rating them based on 7 categories – air, water, opportunities for healthy nourishment, natural light, fitness, comfort and mental freshness. “With the current transaction, we are realizing the second successful deal with Erste Investment Fund. The acquisition of Vision Towers and Advance Tower proves the high standard of quality of Futureal Group’s developments that we will continue to guarantee for our partners in the future. Futureal Group has been committed to developing all of its future office buildings according to WELL Building standards, since the health of the employees working in the building must be a key priority during planning,” said Tibor Tatár, CEO of Futureal. “The recent agreement is a new milestone in a tried and tested professional relationship that will further strengthen our unique real estate portfolio. State of art solutions provided by Advance Tower and its international tenant portfolio provide us with innovation and stability for long-term,” stressed Balázs Pázmány, Chairman of the Managing Board at Erste Asset Management Ltd.
Bluestone National Park Resort today announces the opening date for its £7 million Dome – a groundbreaking ‘giant umbrella’ William McNamara CEO and Founder of Bluestone said: “This is the first of its kind in the UK which will create an additional 55 jobs and boost the local economy by more than £21m over 10 years”. Created with the help of a multitude of Welsh companies in line with Bluestone’s track record of supporting local suppliers and strengthening the Welsh economy. Serendome will open to guests at the family resort in Pembrokeshire, Wales on July 19th, 2019; representing a significant investment in the future of Wales’ tourism. The 7,000sqm area beneath the Dome, which measures 116m high and 77m wide, encompasses a massive playground for Free Range Fun for Bluestone’s guests. It will be a hub for entertainment; and at its heart will boast a 400-seat Amphitheatre, a live music and performance venue in a unique setting. Serendome will include exciting new activities for guests, including the impressive SkyWalk – a vertical adventure course like no other, built over seven towers and featuring 24 climbing stations. The build, which started in March 2018 has involved a number of contractors, overseen by the Bluestone Projects team. The umbrella itself is made from EFTE, a unique material used in some of the world’s most ambitious architectural projects. Liz Weedon, Head of Projects at Bluestone said: “Successful projects are delivered by great teams of people working together effectively and collaborating. “More than 300 people have been involved in the making of the Serendome from the architect to the bricklayers – each playing a vital role in the building of this innovative structure. William McNamara, added: “The biggest challenge has been to create a structure this size that isn’t actually a building. When you are under the Dome, it is an extraordinary place and like nothing else anyone has created before. We hope that Serendome proves to be another exciting draw for the thousands of visitors who stay with us and experience Pembrokeshire every year.” Roger Casey Associates Limited, Consulting Civil and Structural Engineers, said: “It’s been exciting working on such a unique project and great to have had the opportunity to work alongside other local companies.” William McNamara added: ”It has been a great privilege to have worked on this ground-breaking project with many multi-talented individuals. Our Bluestone guests are in for a real treat!”
Leading independent construction, property and management consultancy, Rider Levett Bucknall UK (RLB UK) has announced today Liverpool based cost management consultants, Todd & Ledson will join RLB as part of its UK growth strategy. Consolidating RLB’s presence in Liverpool and strengthening its expertise in the North where it already has offices in Leeds, Manchester, Sheffield, Cumbria and Warrington, the Liverpool company, led by Partners Phil Waring, Stuart Wands and Chris Balshaw, will join forces with RLB from 1 May 2019. A well established cost consultancy, Todd & Ledson has operated in Liverpool for over 60 years with a long-standing customer base, across a range of sectors aligned with those that RLB operates in, and has a strong track record in both healthcare and education specifically. The existing team of 25 will be joined by RLB Liverpool colleagues and work out of Todd & Ledson’s Princes Dock offices in the heart of the Liverpool business district. Russell Bolton, Managing Partner responsible for the region, “We are delighted to be joined by the fantastic team at Todd & Ledson. This is a company that shares the same business values, culture and professional standards as us at RLB. The RLB | Todd & Ledson venture in Liverpool creates a destination consultancy for those looking for innovative solutions within the built environment by offering them the full portfolio of professional services as well as a wealth of expertise and experience.” Stuart Wands from Todd & Ledson continues, “The integration of our two organisations made perfect sense as it expands the services we offer locally but also broadens the opportunities for us to offer our services to clients on a regional and national basis.” Todd & Ledson will officially join forces with RLB from 1 May 2019 with the Liverpool office trading as RLB |Todd & Ledson until May 2020.
Tenant Shop, an Inchora company is delighted to announce that it has entered into a new partnership with Reposit in order to provide a security deposit alternative product within its portfolio for agents, landlords and tenants. Tenancy deposits have traditionally comprised six weeks rent and despite the cap in the Tenant Fee Bill bringing this to five weeks, a lump sum of this amount can be difficult for some renters to find. Reposit’s security deposit alternative provides a new way to rent property, with tenants only required to pay a single week’s rent as a service fee to add their landlord to a group insurance policy. The policy covers a landlord for everything that the traditional lump sum would have covered at less cost to the tenant. This innovative product helps landlords fill their properties quickly and securely and gives tenants a deposit alternative. The product crucially includes eight weeks rent as cover (three weeks more cover than cash deposits can legally offer due to capping at five weeks rent) as well as Reposit dealing with all collections of owed money from the tenant via their platform. Tenant Shop prides itself in offering the highest industry standard of products and services to its customers and this is where Reposit’s product excels. Unlike other security deposit alternatives, this product sees a tenant paying a service fee and Reposit then adding their landlord to a group insurance policy as a named beneficiary. As a result only the tenant’s landlord can cancel the policy. This means that the policy is not in the name of someone who cannot claim or be a beneficiary. This ensures maximum regulatory compliance and a far better customer outcome for both landlord and tenant. Reposit’s scheme has significant check-out / claims data to prove that the product works end to end with independent arbitration in the case of a dispute. Underwritten by certain underwriters at Lloyd’s, regulated by the FCA and covered by the FSCS, Reposit proves itself as the strongest product on the market. Tenant Shop has been partnering agents for over ten years providing its dedicated technology platform SULU to help them manage tenancies and reduce workload. It provides agent, landlord and tenant services through notifications, dedicated account management, a unique void solution and utility, media and insurance services (including rent protection). Reposit will be added to the portfolio in April and will be provided in two ways. Letting agents and their landlords will be able to use Reposit via direct introduction from Tenant Shop or coupled with referencing via their preferred referencing partner, UKtenantdata.
Reposit, the company changing the way landlords, agents and tenants handle deposits, has announced its latest partnership with property management company Way of Life, providing all customers with an alternative to the tenancy deposit schemes. The InsurTech firm operating in the PropTech space, has also unveiled an extension of its cover from six to eight weeks, covering all bases from rent arrears to cleaning and damages costs. Founded in 2015, Reposit is the creator of the growing deposit replacement sector in residential lettings, providing customers with an alternative to the standard tenancy deposit. Reposit eases cash flow problems for renters by enabling them to secure a property with just one week’s rent. Way of Life is a property management company currently managing over 550 homes in the UK, with another 300 launching this summer. Its customers enjoy a tailored service from point of enquiry, throughout their stay and until they move on to the next stage of their life. Way of Life customers are given the choice of purchasing a Reposit with just one week’s rent, plus an annual fee of £30 should they stay for more than one year in their home. Way of Life becomes a named beneficiary on the Reposit insurance policy and is protected for up to eight weeks’ rent, for anything a traditional tenancy deposit would have covered. “We want to offer an excellent level of service to our customers. Finding an alternative deposit option was always high on our agenda. After looking at the various deposit replacement offerings, we have chosen to partner up with Reposit to offer a viable option to our customers. It’s ease of integration into our services and the dedication towards compliance under FCA regulation and FSCS protection made the choice easy in the end,” said Way of Life’s Managing Director, Sowgol Zarinchang. Way of Life’s partnership with Reposit comes just before the opening of its new £37 million development in Birmingham, The Lansdowne, which comprises 206 apartments and more than 10,000 sq. ft of shared social spaces including a lounge with big-screen entertainment facilities, a quiet room, a broadband-equipped workspace, a fitness studio and a rentable private party room and kitchen. All customers are invited to choose a Reposit or traditional deposit when signing up. Reposit is also today announcing that it has increased its length of cover to eight weeks, the longest complete cover in the industry. A number unmatched by traditional deposits as government legislation for rent under £50,000 per year is capped at five weeks and six weeks for rent over £50,000. According to recent figures published by the Tenancy Deposit Scheme, the average rental deposit in England and Wales is £1,041, whilst in London, it is typically £1,750. Reposit’s market research data of 1,000 tenants, found that 91 percent of tenants have paid a deposit, with 49 percent claiming they borrowed from family, loans or even payday loans. For people moving between properties, they are expected to provide the deposit for the new contract before an old deposit has been released, causing further cash flow problems and added stress.
Ultra-wealthy tycoons have triggered a boom in sales of U.K. mansions, taking advantage of softening property prices in the wake of uncertainty over Brexit. Figures gathered by property lender Octane Capital show a surge in so-called “super-prime” purchases, defined by some experts as properties costing in excess of £10 million ($12.6 million), as the seriously rich, many from overseas, snap up bargains and take advantage of the weak pound. Octane Capital had requested previously unpublished data from HM Revenue & Customs, the U.K. tax authority, under the Freedom of Information Act. The data shows the number of homes selling for more than £10 million rose by a half in 2017, as uncertainty over the U.K. leaving the EU made property price tags at the highest end of the market significantly more attractive. The figures reveal sales of the country’s most substantial dwellings spiked to 300 in 2017, up from 200 in 2016. In the first three months of 2018, the latest period for which data is available, 100 homes costing more than £10 million were sold. The lack of clarity over Brexit has touched almost every part of the UK economy. The latest purchasing managers’ index, released on January 3, showed manufacturing growing at its quickest rate in six months. Factories have been boosting stock in anticipation of a no-deal Brexit in March. Activity in the property sector was not only seen in the market for mansions. Octane’s HMRC data shows the number of second-home owners buying properties costing over £2 million ($2.5 million) more than doubled in 2017 to 1,900 from 800 in 2016. Jonathan Samuels, chief executive of Octane Capital, said: “While many home owners sit on their hands during times of political and economic volatility, the ultra-wealthy often use these periods to acquire assets at a significant discount. “Brexit had a particular impact on super-prime properties in the capital, so for many very high-net-worth individuals the fallout from the EU referendum vote was an investment opportunity. For investors based overseas, sterling weakness made the price falls even more attractive.” The Brexit-fuelled boom in super-prime property has seen sales of some of the UK’s most stunning piles, according to Octane. It cites a raft of examples including Lambourne Hall in Ascot, Berkshire, close to the racecourse frequented by the royal family. Lambourne Hall, which is over two floors with a lift and two independent staff suites, sold for £21 million ($26.5 million). It includes an indoor swimming pool, gym, spa/Jacuzzi, sauna, steam and treatment room. The property has five reception rooms on the ground floor as well as a separate bar and library/cigar lounge. The five bedroom suites on the first floor all have dressing rooms and en-suite bathrooms. Meanwhile, a four-story, seven-bed Victorian property in Oxford, once home to social reformer and novelist, Mary Arnold Ward, went for a more modest £10.5 million ($13.3 million). Samuels added: “Some of Britain’s wealthiest cities became a goldmine for foreign investors seeking a bargain.” The data also showed the number of homes costing £1 million ($1.3 million) and above exceeded 20,000 for the first time.
