Welcome to our August 2017 Newsletter
There’s been a few changes at Martin & Co recently, but it’s all good. New staff have been taken on including Jan Bates who used to work for Hinckley Real Estate. She’ll be back in the property management fray and we wish her the best. Melissa and Lisa will be moving on to run our new shop in Nuneaton which opens October 1st, and Steve is spending most of the time at his new venture, Martin & Co in Northampton! Hinckley will still be providing excellent customer service with Mark, Donna, Susan, Stacey, Megan and Jan firmly in charge. If you know anyone looking to sell or rent a property please call us on 01455 636349 or email Hinckley@martinco.com
We’re nearing the end of the year. How is the sales market in the Hinckley area? Here at Martin & Co we’re holding our own against the competition, and between us we’re selling plenty of property. The market is moving! Are you?
As from the 1st April 2018 there will be a requirement for any properties rented out in the private rented sector to normally have a minimum energy performance rating of E on an Energy Performance Certificate (EPC). The regulations will come into force for new lets and renewals of tenancies with effect from 1st April 2018 and for all existing tenancies on 1st April 2020. It will be unlawful to rent a property which breaches the requirement for a minimum E rating, unless there is an applicable exemption. A civil penalty of up to £4,000 will be imposed for breaches – so if you haven’t got an EPC, call us to arrange one today!
Investment property of the month!
An ideal opportunity to purchase this two-bedroom mid terrace property situated on Gopsall Road in Hinckley which is within walking distance of the town centre. The accommodation comprises of a lounge, kitchen diner, two cellar rooms, two bedrooms and a family bathroom. The property also benefits from gas heating, double glazing, small front garden and side access to the rear garden. With a 5.5% yield this property would achieve a rent within the range of £525 to £550 per month.
For further information call Martin & Co on 01455 636349 or email hinckley@martinco.com
There was a recent article in The Hinckley Times about the vacant property above the (now) Silchar restaurant. A few years ago, we advertised the three bedroom flat located above the then empty pub, and found ourselves inundated with viewing requests. Little did we know of the reputation of it being haunted, and most of the viewers were actually ghost hunters! Lee (in our office at the time) refused to carry out any of the viewings, so Steve did them all until a tenant was found. He was quite disappointed that a ghost wasn’t sighted – even during the darker evening viewings! Best of luck to the new developers from us!
A new study has revealed that 31% of tenants in rented accommodation cannot imagine ever owning their own home. The research also revealed that more than a fifth (21%) of renters think that the removal of mortgage interest tax relief on buy-to-let properties, which came into force in April 2017, will reduce the supply of rented properties in their area. Some of the tenants surveyed were also concerned that they will face rent hikes as buy-to-let landlords pass on the higher costs. 6% said that their landlord had already or will increase the rent as a direct result of the tax changes. Affordability and access to mortgage loans were key reasons why many Brits rent. Half of the tenants surveyed live in rented accommodation because they can’t afford to buy their own home, 11% were renting because they were currently unable to obtain a mortgage. Just 14% of those renting was doing so out of preference. The survey also looked at the profiles of people in rented accommodation, it found that more women (57%) than men (43%) were tenants; 39% were single households, 28% were families with children and 23% were couples. One in ten of people surveyed share their home with flat or housemates. Commenting on the research, Matt Sanders from GoCompare Mortgages said, “Our research reveals that half of all tenants are in rental accommodation because they can’t afford to buy their own home. It now looks like many have given up all hope of ever owning a home and, for some, the changes to buy-to-let regulations are likely to make renting more expensive. In turn, that makes saving for a mortgage even harder. “April saw profound changes to the taxation of buy-to-let properties which will reduce landlords’ profits and our survey suggests that there is a real concern among tenants that to protect their profits, over time some landlords will increase rents while others may sell-up – reducing the stock of available private rented homes.”
For my one avid reader that enjoys statistics here’s the latest house price index from Land Registry!
Business expansion has always been an ambition for Steve, and on the 1st of September he purchased the existing Martin & Co Northampton Franchise, as you can see it’s currently in the older branded colours (which Steve aims to change sooner rather than later), and the new Nuneaton shop opens on the 1st October. Exciting times!
If you know anyone looking to sell or rent their home please call Martin & Co on 01455 636349
