Orchard introduces new rent protection service
SALES • LETTINGS • NEW HOMES • COMMERCIAL • FINANCE • P R I VAT E S A L E S • D I R E C T O RY
PROPERTY fraud is repor tedly a growing industr y.This is a par ticularly unpleasant business especially given how much homeowners invest monetarily, in hours purchasing and maintaining, and emotionally into the home.
It’s also difficult to conceive what a would-be proper ty thief ’s strategy might be for exploiting proper ty, and it’d be easy to hope that the law would be straightforward and on the side of the proper ty owner, and it is, but not without the potential for a large amount of stress and hassle.
The types of proper ty that are most likely to be targeted, or have been up to this point, are homes where there is no mor tgage, or where the owner does not inhabit the proper ty.This puts landlords in par ticular at risk, or any person who is absent from their proper ty for some time.
Common methods of fraud are attempting to acquire ownership by use of forged documentation, or by impersonating the owner. Often, the fraudster will attempt to obtain a mor tgage against the proper ty, making off with the money, and leaving both the actual owner and mor tgage lender with a rather messy situation.
In most cases, the owner is unlikely to actually lose their proper ty, but clearing up the situation is likely to be a lengthy process involving the mor tgage lender, the Land Registry and the owner.
The mor tgage lender is most likely to bear the cost of the fraud, since it has no rightful claim over the proper ty.
If a proper ty is empty or buy-to-let, if the proper ty is a nursing home, or is a proper ty that has no mor tgage, if the owner is spending time abroad, or if the proper ty was bought before 1998, there is an increased risk of fraud and owners should be aware of this and take steps to mitigate.
To reduce the risk of proper ty fraud, all proper ties should be registered with the Land Registry, contact details should be kept up to date and adjusted whenever necessary, and the Land Registry also allows owners to track any changes to their title with proper ty aler ts.
As proper ty fraud increases, make sure your proper ty is protected!
Paul Gillespie; 020 8426 1972; pgillespie@gibbs-gillespie.co.uk; www.facebook.com/gibbsgillespie; Twitter: @gibbsgillespie MARKET LEADER:
Orchard Property Services has an office in Ickenham at 11 Long Lane (pictured) and one in High Street, Ruislip.
THE lettings team at Orchard Property Services constantly strive to ensure that the services and products offered to landlords are completely unique and way above and beyond what is normally offered by their competitors.
With this in mind, Orchard is delighted to announce its newest innovation, ‘Protected Rent’.
In essence, landlords of Orchard who choose ‘Protected Rent’ no longer have the stress and worry of receiving the rent each month as Orchard guarantees to landlords who take this wonderful opportunity that if rent is not received within five working days, Orchard will pay the rent instead! No ifs or buts.
Managing partner, Christopher Foster MARLA explained: “I am extremely proud to launch this new service.
“I’ve long thought that when a landlord chooses our company to source tenants for them, in the rare instance that something should go wrong, the agent should take more financial responsibility and not rely on third party ‘rent guarantee policies’ which more often that not, do not assist when you need them most.
“I take pride in the service we offer to our landlords and want to take it one step further by protecting them as best as we can. I believe that, locally, we are the only agency which is willing to offer such a service and is testament of how we constantly listen to the needs of our clients.”
This fantastic service is available for both new and existing clients where Orchard are instructed to ‘Rent Collect’ or ‘Manage’ their property and comes with a personal promise that should the tenant get into arrears, they will receive unencumbered guidance and support from Orchard.
Orchard Property Services is an independent, multi-office estate agency which has been trading for 19 years, serving the communities within the Hillingdon Borough and surrounding areas in both sales, lettings and financial services.
Being different is not new for Orchard, which pioneered the introduction of lower rates of commission for both sales and lettings and is again aiming to be a market leader with its ‘Protected Rent’ innovation.
If you would like further information on the ‘Protected Rent’ service or book your free valuation call the agency today on 01895 623 666 (Ruislip) or 01895 623 626 (Ickenham).