Another property let!

Another quality property let by Applegate Lettings;

Property type: 2 bedroom duplex apartment
Location: New Mill, Holmfirth
Rental: £695 pcm
Min term: 6 months

A two double bedroom luxury apartment set in approx. 20 acres of woodland with stunning views and fishing rights over the adjoining mill pond.

Within the highly regarded Wildspur Mills development we offer for let this ground/first floor duplex apartment. Briefly comprising; entrance hallway, two good sized double bedrooms with feature stone walls, contemporary, fully tiled house bathroom with shower over bath and additional storage cupboard. A spiral staircase rises from the entrance hallway to the first floor where there is an additional shower room, utility room complete with washing machine and tumble dryer and high quality kitchen area with cherry wood units, integrated appliances and breakfast bar. The lounge is open plan with a dining area currently incorporated. This area has two Juliet balconies with patio style fully functional doors which allow the occupier to have open views across the stunning mill pond. The property is completed with inset spotlights throughout, quality solid cherry wood flooring, alarm and video entry system, and fully double glazed windows. This secure home has an allocated private car parking space and additional visitor parking spaces. The property is available fully or part furnished.

• Superb duplex apartment
• Character features including exposed stonework
• 2 double bedrooms
• Open plan lounge with Juliet balconies
• Kitchen with integrated appliances
• 2 bathrooms
• Located in approx. 20 acres of beautiful woodland
• Spectacular views over mill pond
• Allocated parking
• Furnished or unfurnished
• Available now

To enquire about this property, please contact us on 01484 682999

January Round Up!

It's been a surprisingly busy January here at Applegate Lettings with a surge of viewings and lettings happening in the last two weeks. In fact, of all the properties we currently have on our books, we're happy to say that we've let 40% of them in the last two weeks alone!

Training has been a priority this month with Managing Director Amy Wray travelling to London to attend an ARLA seminar run by Shula Rich on 28th and 29th January. It was very informative and as a result we have decided to incorporate yet another checklist when moving tenants into properties in order to safeguard our landlords and increase the chances of re-claiming any bonds for damage if required at the end of the tenancy.

We should note that 80% of new properties on the market this month have come from existing landlords and tenants recommending us, beating our monthly average of 76%! Every month that we manage to maintain this percentage is another month that we're doing our job well enough to warrant a recommendation so raising the bar to 80% this month is another reason to celebrate. We've also decided that we can show you more than percentages when it comes to recommendations - a new testimonials page is currently under way with our developers so that our clients can read exactly what people have to say about us. We'll let you know when it's ready to launch!

Property = Pension?

A stable income and a boost to insufficient pension provision are the two top priorities of buy-to-let investors wishing to make a new investment over the next 12 months.

Buy-to-let firm Assetz says in its annual Buy to Let Investor Survey that confidence in the UK market is robust, with three-quarters of investors stating that they intend to buy additional investment properties over the coming year, as low savings rates and poor returns on the stock market limit income.

Only 5% felt that now is not a good time to invest in residential property, the main reasons being the belief that prices have further to fall, difficulties in securing mortgage finance, and concerns over the financial security of tenants.

Investors are taking a long-term view, with 65% stating that rental income for retirement is their main motivation, followed by long-term capital growth (27%). Just 8% cited short-term capital growth as their reason for investing.

A large proportion are buying either outright with cash or with a very small mortgage, meaning they are not facing the usual hurdle of securing finance, faced by homebuyers. Over half (55%) stated they will be using a low loan-to-value mortgage or buying outright, with 23% refinancing their home or an existing buy-to-let and 22% using a high LTV loan.

Most of those surveyed (68%) said they are currently achieving gross rental yields of more than 6%, with almost a fifth achieving 9% yields or higher.

At Applegate Lettings, we look after your investment and understand what a responsibility it is, allowing you to sit back and  relax, knowing that your investment is in good hands.

Rent set to reach record highs

Rent costs are expected to rise to record highs in 2013 and increase by 18 per cent over the next five years.

The growth of the rental market, which has been driven by the phenomenon dubbed 'generation rent', shows no signs of stopping as more people turn towards lettings agents and rent properties rather than buy.

Many young adults in particular will rely on renting property, with the majority of first-time renters being in their late 20s and early 30s. A lack of job opportunities, student debt and the rising cost of house deposits are seen as the major factors in causing this trend.

The rise in rental costs will not come as a surprise to many, with a survey conducted by Halifax showing that 66 per cent of people expect rents to rise in 2013. House prices are also predicted to grow, with 38 per cent of people expecting the value of the average property to rise in 2013, compared to 18 per cent who predict a decline.

"Renting can offer individuals stability"

Despite the cost of renting increasing, a letting agency from Sheffield has claimed being trapped in the rental sector does not mean tenants will be losing out to homeowners. Director at Belvoir Sheffield Rick Flay explained how there are plenty of positive elements to renting a property. The expert claimed that although owning a home is traditionally seen as offering financial stability, it may leave people with less security if they are tied to the investment and struggling to pay bills.

"It is a lot harder to sell up and leave than it is to leave if you have been renting and a tenancy has ended," Mr Flay commented.

The specialist noted that outgoings on rented property are mostly fixed, which allows tenants to budget more accurately than a homeowner. For example, if a boiler breaks down landlords have to cover the cost of a repair or new device, while those who own the property have to fund the maintenance themselves.

"New housing fund will stimulate growth in private rental market"

Housing minister Mark Prisk has also announced the launch of a £200 million fund to increase the construction of properties for the private rental sector. The Build to Rent fund will give developers the confidence to build properties specifically matching the requirements of the rental market in that area, knowing that the fund will finance the work until the property is let out to a tenant.

Companies will be offered the chance to invest in the new rental properties and developers will repay the government investment. It is hoped that the new scheme will help to ensure a higher standard of quality across the rental sector and will encourage larger companies to become involved in the market.

Currently, the majority of private landlords are individual investors that have a small portfolio of properties. The government hopes to stimulate the market and encourage large-scale housing organisations to play a key role in the private rental sector.

Mr Prisk said that the fund will "create new jobs, build the homes that families need and local people want, and support economic growth across the country".

REDUCED

House to let – Carr Street, Marsh

Property type: 3 Bedroom End Terrace Property
Location: Marsh
Rental: £600 pcm
Min term: 6 months

A recently re-furbished, high quality, three bedroom property with off street parking and gardens to front and rear.

This super home has recently undergone a full re-furbishment programme including new kitchen, appliances, carpets, bathroom and decoration. Briefly comprising; Entrance lobby, spacious lounge with stove effect fire, good size dining kitchen with integrated appliances and under stairs storage cupboard. A staircase rises from the entrance lobby to the first floor where there are two double bedrooms and a single bedroom with storage cupboard. There is a contemporary, newly fitted house bathroom with shower over bath complete with full height tiling. The property has new carpets throughout and is newly decorated. There is a new combination boiler, gas fired central heating, double glazing and alarm. Externally the property has a lawned garden to the front, long driveway down the side (4+ cars), and enclosed rear garden with lawn and low maintenance areas.

• 3 good sized bedrooms
• Recently modernised
• New kitchen with cooker and washing machine
• New contemporary bathroom
• GFCH / DG and alarm
• Good sized gardens
• Ample off street parking (4 cars+)
• 10 minutes (approx.) from M62
• Bond £800.00

To enquire about this property, please contact us on 01484 682999, or for further images please click here. 

Letting Agent Reform

A debate over the potential reform of letting agent regulations took place in the House of Lords on Wednesday.

Baroness Hayter, shadow minister for business, innovation and skills in the Lords, rose to lay her amendments to the Enterprise and Regulatory Reform Bill. The amendments aim to bring letting agents within the scope of the Estate Agents Act 1979 and put in place a minimum level of professional standards for the private rental sector.

It is hoped that these changes will provide greater protection for consumers and raise standards in the industry. The amendments were drafted by RICS, which worked alongside Baroness Hayter to gather vital industry support for the proposals. A number of members from all sides of the house gave their backing to the proposition, with conservative peers Lord Lucas and Lord Devan speaking in support. However, the government continues to suggest that current legislation and the Safe Agent scheme provides the necessary protection.

At Applegate Lettings, we already provide an incredibly high standard of service to our customers and as one of our core values, excellent customer service remains at the forefront of what we aim to do here.

Baroness Hayter will return to the amendment at the report stage in early March.

NOW LET

NOW LET – Upper Clough, Linthwaite

Property type: 2 bed cottage
Location: Linthwaite
Rental: £399 pcm
Min term: 6 months

A two bedroom cottage with off street parking and small courtyard garden set in the popular village of Linthwaite.

This two bedroom home briefly comprises; lounge/dining/kitchen with new integrated appliances including washing machine, fridge/freezer and cooker. A staircase rises to the first floor where there are two bedrooms and house bathroom. The property is available part furnished and has double glazing and gas fired central heating.

• 2 bedrooms
• Popular area
• Courtyard garden
• Off street parking
• Gas central heating