Welcome to The Key Properties blogging area where you can find all of the latest industry updates and the latest from the Key Properties Team. Our blogging area consists of three key sections; landlord, tenant and development information.
Simply select the required section to see the updates.
Whether your a new home hunter looking to make that perfect summer move or a student trying to find your ideal flat before term begins Manchester’s rental market has never been busier.
Key Properties turnover is at an all time high with our property portfolio changing dramatically from day to day.
However….. fear not, we still have apartments available to suit everybody’s needs (you just need to move fast!).
…..If you are one of the busy few frantically searching for your new house or apartment be sure to visit our website or contact us via telephone where your sure to be blown away by the amazing new properties we have available.
For any students on the hunt make sure you don’t miss St.Lawrence House which is ideally located 10 mins walk from the University, or if your a professional looking for the perfect City Centre pad don’t miss out on the incredible new two bed at Vicus which is sure to be snapped up soon.
We look forward to hearing from you soon!
Letting agents are more successful at keeping rental properties occupied than individual landlords, according to an analysis of deposits from The Deposit Protection Service (The DPS).
Lettings agents ensure that the void period on a property is kept to within two weeks on 63 per cent of properties compared to only 38 per cent for those marketed by landlords directly.
The DPS has assessed the void periods – time when a property is empty of rent-paying tenants – from across 597,753 deposits it holds on rentals in the UK. The exact cost to landlords of rental voids is not recorded, but online letting agent Upad.co.uk calculates that more than £3bn is lost each year.
The figures also point to huge regional differences throughout the country – in one district two thirds of available rental properties were empty for more than three months.
Two of the ten worst areas for empty properties were in Lancashire. However the South was also badly hit, with areas in Surrey, Essex and Hampshire amongst the worst. In some areas 50 per cent of rental properties have been empty for more than three months.
Kevin Firth (pictured), Director of The DPS, said, “Many landlords market their properties very effectively but the evidence we have compiled in the past two years demonstrates clearly that there is more they can learn to try to decrease void periods.
The Halifax today said the mixed pattern of monthly rises and falls in the year to date was consistent with a slowing market.
It expects that house prices will be broadly unchanged across 2010 and said low interest rates and a recovering economy were helping to underpin demand.
The average house price is now £167,425, which is 16% below the peak seen in August 2007.
Halifax said the increase in the number of properties for sale over the past few months, boosted by the recent abolition of Home Information Packs (HIPs), has relieved much of the pressure which was driving up prices in 2009.
June’s fall of 0.6%, which followed price declines in April and May, came amid uncertainty over the impact of Chancellor George Osborne’s emergency Budget.
Halifax housing economist Martin Ellis said: “The mixed pattern of monthly rises and falls over the first seven months of the year is consistent with a slowing market.
“It is also in line with our view that house prices will be broadly unchanged over 2010 as a whole.
“Low interest rates and a recovering economy, however, are underpinning demand and continue to support the market.”
This development is making great progress and the first 10 units or so will be available for viewings in 8 weeks or so. We already have a waiting list on these properties therefore to register and or arrange a viewing of these fantastic apartments don’t hesitate to give Key Properties a call on 0161 876 0070.
Find a property have sent through some very interesting information regarding the current rental market.
Nigel Lewis, the property analyst for findaproperty.com suggests that tenants face more rent rises as stock falls further;
“The new budget may lead many to consider delaying their first steps onto the property ladder and, as more people rent, this will put more pressure on the lettings sector.
“A small number of properties came on the market during the second quarter but overall stock levels are still down. Demand is likely to outstrip supply for a while yet and rents will keep being pushed up as a result.”
Mr Lewis also goes on to show some very interesting graphs showing supply vs asking price and the change in rental price over a three month trend.
For further information visit:
http://www.findaproperty.com/media/rental-index/FindaProperty_Rental_Index_Q2_Jun_10.pdf
Just last month love was in the air. We, the public, spoke and tasked our politicians with finding a solution to precisely who would govern the country for the next five or so years. The Kingmaker held out his hand to the Tories and a new relationship was formed.
After several weeks of mutual appreciation, the reality of the challenges for the next government reared their ugly heads, and none was more notable than the emergency Budget. With said Budget now delivered, what does it mean for the mortgage market?
Well, frankly, in the raft of measures announced by the Chancellor there was little in the Budget that specifically impacts on the mortgage and property markets.
It’s more about the general economics and the effect on interest rates, and this Budget went someway to reinforce the expectation that interest rates will remain low for quite some time; helping to support both the residential and commercial property market.
Unquestionably, the measure that had the most potential to seriously impact the housing market was a change to capital gains tax (CGT). Much Ado questions whether increasing the CGT rate for higher rate taxpayers to 28%, as opposed to the widely expected 40% will have too much of an impact on the buy to let market.
The fact that the £10,100 annual exemption has not been reduced, and that its current indexation will continue, means amateur landlords should still be able to mitigate their tax liabilities by selling one property a year. And, if they defer a sale until retirement they may well still only have to pay tax at 18% on the taxable profit. Of course, this is merely our opinion and you should always take specific tax advice on your situation.
After all, whilst we are the mortgage experts, the same cannot be said for tax…However, being part of the Towergate Group means we know a man (or indeed a woman) who is. Ask a consultant and they will point you in the right direction.
The CGT rise is also something that may impact owners of second homes. Yet, one would argue that most people who buy a second home will not be buying it for any tax benefits, rather because they want, and can afford, a second home. If you do end up paying more CGT when you eventually come to sell, most will see this price worth paying for the benefits of having a second home.
To fix or track (or even cap)
The age old question still remains one of the most important factors for anyone who is taking on a new mortgage currently. For some, the security that a fixed rate provides will always be appealing, but the better value still looks to be found in the tracker market. With trackers considerably cheaper than their fixed counterparts, and the expectation of low interest rates for some time to come, a variable rate still looks to be the right route to take.
Of course, you could hedge your bets and take a tracker and purchase a cap, as we have discussed in previous editions, but this is not likely to be the right option for some. Much Ado tries not to repeat itself too much, but the message for advice is still the same as it was last month, and for many months before that.
Getting specific advice on your own situation is critical. What’s right for one person is not right for the next. There are a myriad of solutions available, but finding the one that is right for you is key. Until next month, we bid you adieu…
Article taken from www.charcol.co.uk
Key Properties understand the properties we let are a valuable investment and are therefore constantly striving to provide nothing but a first rate service, always endeavoring to ensure every property is marketed in the best possible way regardless of price and at no extra cost to the landlord. Every single one of our properties is advertised within hours of instruction.
Key Properties currently advertise on Rightmove, Findaproperty and Zoopla to name a few and most recently we have joined Property Live.
Property Live is the only property search site that’s regulated, protected and run by a professional body of fully accredited agents, it is run by the National Federation of Property Professionals (NFOPP).
Yet another fantastic site that Key Properties have managed to secure in Manchester city centre, Albert Mill.
Albert Mill Salford
Albert Mill is situated a 5 minute walk from Salford University and also a short walk into Manchester city centre. Shops, public transport and local amenities are also only a few minutes walk away. You have great access for the M602 / M60 / M 61 and M56 as well as great transport links.
Albert Mill is one of the few new-build apartment blocks in this central Salford University district making this ideal for both lecturers and students as well as those who are looking for a city centre pad without the city centre price tag!
Key Properties will have a selection of one bedroom and two bedroom apartments offered either furnished or unfurnished and some of the apartments will boast a secure car park space.
With prices starting from as little as £495 this is an opportunity not to be missed!!
Albert Mill Salford
Albert Mill Salford
Key Properties have acquired a fantastic development in Warrington located a 5 minute walk from the City Centre.
Pyramid Court is new to Warrington’s Cultural Quarter. It reflects the stunning architecture of the Pyramids Arts Centre. With the City Centre on the doorstep there are bars, bistros, restaurants and shops on your doorstep as well as lovely Gardens, ideal for the summer days ahead. The train station is a two-minute walk as well as the town hall.
Pyramid court boasts a selection of huge 1, 2 and 3 bedroom apartments. The finish on all the apartments is to the highest specification. A selection of apartments also boast secure car park spaces. Prices start form as little as £495 per month!!!
These apartments are available to view in approximately 4 weeks time and we suggest you register your details with Key Properties as they are sure to be let very quickly!!
For floor plans, features, maps and Square footage of the apartments please see the document attached. Pyramid Court
For even further information or to arrange a viewing please contact the lettings team on 0161 876 0070 today.
Brochure courtesy of Egremont Homes
Pyramid Court (Internal)
Pyramid Court (Kitchen)
Pyramid Court (Bathroom)
The landlord licence is officially DEAD!
Thank God for that!
This is something Property Hawk had been campaigning against from the outset!
The most absurd & pointless part of New Labour’s deluge of legislation attempting to tie landlords in bureaucratic knots was killed yesterday when new Housing Minister announced to Parliament that the new Government had no plans to introduce the Labour Parties regulations on the private rented sector. Immediately he binned the landlord registration scheme, the proposed licensing of letting agents and the need for a written tenancy agreement.
Any landlord who claimed at the time of the election. “What’s the difference between the parties; they are all the same.” Can’t surely still be thinking this.
The new government clearly believes that there comes a point when we do have enough legislation to protect the interest of both the landlord and the tenant & that piling more and more layers of effectively duplicate and pointless control will do neither any favours. The only gainers being the bureaucrats that would be ultimately administer the pointless scheme.
Government bins changes
Grant Shapps rightly pointed to the reams of existing legislation that is there to enforce order in the Private Rental Sector.
He said:
“With the vast majority of England’s three million private tenants happy with the service they receive, I am satisfied that the current system strikes the right balance between the rights and responsibilities of tenants and landlords.”
“So today I make a promise to good landlords across the country: the Government has no plans to create any burdensome red tape and bureaucracy, so you are able to continue providing a service to your tenants.”
“But for the bad landlords, I am putting councils on alert to use the range of powers already at their disposal to make sure tenants are properly protected.”
So landlords, we can all sleep and little easier at night knowing that we can get on with our business of letting decent quality accommodation to decent tenants & housing 12% of the countries population at NO COST TO THE TAX PAYER as a right & without the need to get permission first from an over bearing government.
Beetham Tower
An opportunity to become part of the most exciting residential development to hit the Manchester skyline has arrived. Its one of Manchester’s most prestigious locations and it’s the place to live in Manchester. With its own bar that boasts amazing views of Manchester and beyond, a gym, and a concierge we present Beetham Tower.
Beetham Tower on Manchester’s Deansgate is part of this landmark Hilton development, the ‘UK’s Tallest Residential Building. Key Properties currently have two superb apartments in this fantastic development.
The first is located on the 32nd floor just 9 floors away from the luxurious cloud 23 bar this stunning apartment boasts floor to ceiling windows, fully integrated kitchen and high specification throughout. The apartment has 2 bathrooms (one of which is en-suite) and is offered fully furnished
The second is a stunning one bedroom apartment and is also located on the 32nd floor. This spectacular apartment boasts floor to ceiling windows, a fantastic internal balcony and a high specification fully integrated kitchen and bathroom. The apartment is also offered fully furnished.
To arrange a viewing for any of these Amazing Manchester apartments please do not hesitate to contact the Key Properties lettings team on 0161 876 0070.
Click here to view all available properties in Manchester city centre
Beetham Tower (External)
Beetham Tower (Internal)
World Cup 2010 | Who are you backing?
Key Properties and its entire staff are gearing up for World Cup frenzy which is soon to take Manchester, Salford Quays and all its residents by storm.
The participating teams have made there final preparations so be sure to make yours too. Manchester and Salford Quays will have a host of premises showing all the games so don’t miss the opportunity to visit, or alternatively fast track your search for a fantastic new flat so that you’ll be one of the lucky few with the carnival of The World Cup on your doorstep!
We hope to hear from you soon, in the meantime……….Good Luck!
Click here to download a free world cup 2010 wall chart.
City Lofts, Salford Quays
City Lofts is a stunning new development by the renowned City Lofts group. Consisting of two 19 storey and 9 storey buildings linked together, the design has been put together by Conran & Partners – the same design team behind the other developments by Harrogate based City Lofts.
The apartments are all one or two bedroom, many with balconies and views out over the waterway, whilst there are six top floor apartments that have roof terraces.
All are finished to the highest specification, the bathrooms and kitchens are magnificent.
The development also boasts a 24 hour concierge and an outstanding foyer.
The Lowry theatre, mall, cinema and bars are only a stones throw away. The metro link is just 1 minutes walk away with direct routes into the city centre and beyond.
Key Properties currently have a selection of these apartments for let at very competitive prices and some great offers.
Early viewing is definitely recommended.
Click here to view all available properties in Salford Quays
City Lofts, Salford Quays, (External)
City Lofts, Salford Quays, (Internal)
City Link Salford
Citylink is a fantastic brand new development located just off Eccles New Road. Situated just a 10 minute drive from the city centre and 1 minutes walk away from the Metro Link network offering superb access to and from the city centre in just minutes.
Key Properties has a selection of one, two and three bedroom apartments within this development that are available now. All apartments boast a Juliet balcony and a car parking space. With prices starting from as little as £375 they really are value for money.
Key Properties are also offering all new tenants half price administration fees for this development!!!!!
Early viewing is advised.
City Link External
City Link Internal
Spinning fields outdoor cinema has made a return much to the delight of the Manchester residents. They will be showing films on Thursday evenings and all showings are open to the public. Be sure to make your way down there with friends and partners and share some of the film industries classic movies.
Now all we need to do is keep our fingers crossed that the weather holds out for these special nights!
All film times and dates are listed below for your convenience.
20th May – Control (15)
27th May – Cocktail (15)
3rd June – Dirty Dancing (12)
10th June – The Italian Job (U)
17th June – Leon (15)
24th June – Pretty Woman (15)
1st July – Match Point (15)
8th July – Sound of Music (U)
15th July – Roman Holiday (U)
22nd July – Layer Cake (15)
29th July – Ferris Bueller’s Day Off (15)
5th August – Blues Brothers (15)
12th August – Stand by Me (15)
19th August – Moulin Rouge (15)
26th August – Borat (15)
2nd September – The Devil Wears Prada (12)
9th September – The Quiet Man (U)
Its Wednesday and 7 members of Key Properties staff are still nursing sore feet and aching limbs after completing the annual Great Manchester 10k run on Sunday, raising funds for Macmillan Cancer Support in the process! A record 36,000 entrants participated in the run that started on Portland Street in the city centre before winding its way down Chester Road, past Old Trafford to the halfway point at Salford Quays (just a stones throw from Key Properties headquarters) and then heading back to the finish line on Deansgate, just a few feet from the city centre branch of Key Properties. All members of the Key Properties team finished the race under their personal targets and have currently raised £1500 and counting…
Lettings negotiator Thomas Bett easily beat his arch nemesis Azim Kourah by more than a minute, rubbing salt in an already open wound!
Abito SQ
Abito’s latest development has arrived! Now Abito’s clever functionality and high-spec finish is combined with a world class waterside location that redefines affordable urban living.
Located within the heart of Salford Quays, Abito is surrounded by a wealth of attractions, and is only a short stroll from the Metro link, which provides quick access into the heart of Manchester.
These spacious, light and airy; studio apartment boasts unparalleled views over the quays and benefits from thoroughly modern specification throughout. Featuring a bedroom, fully integrated kitchen, bathroom (with bath and shower), living area and balcony; the apartments are offered either fully furnished to a high standard or unfurnished. Secure allocated parking is also available at an additional cost.
Being exceptionally great value for money these apartments are a must see!
abito salford quays dusk
Abito Salford Quays
If the Tenancy Agreement makes no provisions for the landlord to make a rent increase after a certain period then you have two options:
The rental increase should be considered in relation to the rental to that of other similar properties in the same area. If the increase puts the rent well above the current market value, tenants can apply for the rent to be assessed by a Rent Assessment Committee. If they then reduce the rent, you are bound to this figure for 12 months.
It is always worth asking your agent what the current rental market is like as an indecent rent increase can scare tenants into handing in their notice.
A break clause will most commonly allow either the landlord or the tenant to give notice at an agreed interim stage of a tenancy. This is usually requested by the landlord or the tenant if the initial fixed term is for a year or more.
For example, a 12 month tenancy may have a 6-month break clause which means that the tenant or landlord can give notice to terminate at the 6-month stage. Notice cannot be given prior to this date nor can it be given after the break clause stage has expired.
Care should be taken when instructing the notice as it is very important to take into account how much notice is required and when this has to be served. Some tenancy agreements state that one month notice must be given by the tenant to fall in line with a rent due date.
If notice is given just one day after the rent due date then this can in fact mean that nearly 2 month’s notice is given because it is not effective until the next rent due date. The notice for the break should be given to expire at the 6 month stage in this example.
Landlords must provide the tenants with 2 months notice whereas tenants should provide 1 month notice to the landlord should they want to leave after the first 6 months.
Pioneer House Salford
Pioneer House is situated near one of the city’s most vivacious urban centres, with several restaurants, cinemas, and shopping malls just a stone’s throw away. There is quick access to all of the city’s main financial and business districts by foot, and Exchange Quay and Salford Quays tram stops are on the doorstep. Salford Quays is just 2 miles from Manchester City Centre with all its unparalleled facilities, attractions and employment opportunities.
Pioneer House has proven to be a very popular development on the Quays. It is the newest phase of the ‘Saltra’ development. The specification is higher than that of the previous builds and each apartment whether a one bedroom or two boasts a balcony. This particular phase also boasts secure underground car parking.
Pioneer House is popular with both young professionals, professionals, families and friends.
Pioneer House Salford
Pioneer House Salford
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