Maintaining high standards for Fenn Wright lettings

At the administrative centre, three full time staff are now on duty solely taking care of maintenance issues as they arise from landlords and tenants. A little unusually, the firm also keeps a full time handyman on the books to answer the huge variety of calls in addition to a trusted panel of contractors.

“The centralised management system works extremely well, and means those of us in branch can concentrate on acquiring new business and offering the best service to both new landlords and tenants,” says Jon Barker, Head of Residential Lettings in Ipswich.

“In the first weeks of this year, the market has continued to be very brisk, although we have seen a slight tailing off in demand for the more highly priced properties, in the £1,200 to £1,300 price range and above.

“This is probably because those owning properties valued above £600,000 are staying put, rather than allowing their homes to sell at a discount of 10% or more and moving into rented property.

“Residential property is still an excellent investment, if you can find the right house to buy. Two and three bedroom houses are perhaps the most in demand, especially those in accessible locations near to the town centre, station and good schools.

“Flats of similar size let well – one on our books in the Ipswich dockland area which sold for £75,000 was let immediately for £575 per month, which is a very healthy return these days. But the resale of flats is harder, as there tend to be a lot to choose from.

“Our biggest body of renters at the moment are those couples who ideally would like to be first time buyers, but don’t have a large deposit, a wealthy family or a willing lender. While their situation remains the same, and there is currently little to suggest it will change in the near future, I think we will continue to see a flourishing lettings market.”

Jon Barker (Ipswich Residential Lettings team)
January 2013