Up and up – Average asking prices in big monthly jump, says Rightmove

Asking prices of property new to the market have jumped an average of 1.3% this month, Rightmove reported this morning.

The monthly rise, which equates to an average of £3,877, is the same as March last year, when there was a buying spree fuelled by the impending rise in Stamp Duty on the purchase of second homes.

There has only been one bigger monthly rise in asking prices in March, and that was in 2007.

The average new asking price is now £310,108.

In the past year house prices in Manchester were 6% up on the year before and 12% up on 2007 when they averaged at £152,675.

The regions with the fastest rate of asking price acceleration are the east and west midlands, followed by the east of England.
New asking prices went up in Greater London by less than 1% on a monthly basis, and dropped in both Wales and the north-east.

Average time to sell is currently 71 days and average stock per branch is 52, including those properties sold subject to contract or under offer.

Amco’s average time to sell calculated since May 2016, is currently 67 days.

New bill for tenants helping to fight homelessness

New Bill set to change the moment that private tenants become homeless

A new Bill aimed at reducing homelessness has been published.

If passed, it would mean that private tenants will not have to wait for forcible eviction by bailiffs before being accepted as homeless by local councils. A notice of eviction would suffice.

The Homeless Reduction Bill has been tabled by Tory MP Bob Blackman, a member of the Communities and Local Government Select Committee.

The Committee earlier this month said it was horrified by the way some people faced with homelessness were treated by local councils – some being sent away with nothing more than a list of local letting agents.

The Bill includes measures to help councils intervene earlier to prevent people from becoming homeless.

It seeks to amend the Housing Act 1996 by:

  • Providing that eviction notices are proof that an applicant is threatened with homelessness
  • Doubling the definition of ‘threatened with homelessness’ from 28 to 56 days

The CLG committee, of which Hunters founder Kevin Hollinrake MP is a member, will now undertake a pre-legislative inquiry to examine whether the Bill will achieve its aims of reducing levels of homelessness.

Richard Lambert, CEO at the National Landlords Association, said: “When faced with eviction, many tenants are advised by councils to remain in a property until forcibly evicted by bailiffs, thus making them homeless and eligible for social housing.

“The NLA has consistently warned that putting vulnerable households in this position puts an unnecessary strain on tenants, private landlords, and the courts service.

“As a result, landlords may become less likely to let property to those most in need.

“By ensuring that councils accept eviction notices as evidence of homelessness, this Bill will take the strain off over-stretched courts, ensure that tenants are properly supported by their local councils, and provide landlords with the confidence they need to let their property out to more vulnerable tenants.”

The full Bill is here

TOP 10 TIPS FOR SELLING YOUR HOME

Here at AMCO, we are the professional estate agency that can deliver tljh;oh  – here we bring you the top 10 tips for selling your home so you can maximise the potential of your residential property

1 – PAINTING

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    2 – CARPETS

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AMCO lettings and Property Management Manchester

What Does Stamp Duty Land Tax Mean For Rental Yields

How will the new stamp duty charges affect buy to let and what does this mean for rental yields?

The new tiered system of Stamp Duty Land Tax chargeable on buy-to-let properties or second homes means that landlords now have to pay an additional 3% premium on their property purchases from April 2016 on all properties over £40,000.

Whilst this is a significant jump, many believe it will not deter investors as those who have the money to invest will always choose property as the top investment asset, no matter the unavoidable ancillary costs involved, which is why demand for property investment will continue even in the wake of these stamp duty changes.

That said, it is expected that rents will rise though to counteract this new stamp duty surcharge.

A survey conducted by flat-share website SpareRoom.co.uk showed that a massive 45% of current landlords plan to raise the rent in their buy-to-let property, with 18% of those saying they will raise their rent by more than 3%.

If you’d like more information on lettings and property Management in Manchester contact us today.

Right to Rent Checks 2016

Right to Rent Checks 1st February 2016

 

property to rent in manchester

A quick reminder regarding Right to Rent checks. From the first February 2016 you or your appointed representative should be completing these checks.

These need to be completed for any tenancy starting on or after the February 1 2016. Landlords and agents must check the immigration status of any adult renting their property to ensure they have a right to rent in the UK. Landlords in England must carry out the checks in the days leading up to the start of the tenancy and not after a new tenant takes up residence. As the  necessary documents will need to be produced, verified and copied you should be completing these checks now.

If a landlord is found to be renting to people with no legal right to live in the UK a fine of up to £3,000 per illegal occupier can be imposed. The original documents must be seen in the presence of the holder of that document and copies must be retained. Responsibility for the checks can be passed to letting agents, but this needs to be a written agreement with the agent or a landlord  can still be considered responsible.

For more information on Right to Rent, including details of which documents are acceptable as proof of identification please see  right-to-rent-documents and document detail

For advice and information about rental properties in Manchester or Lettings & Property Management in Manchester, get in touch today.

Property Management Manchester

AMCO Lettings & PROPERTY MANAGEMENT GETS A NEW VAN

AMCO MANAGEMENT GETS A NEW VAN

Have you seen our new van on the streets of Greater Manchester?

Lettings and property management

Property Lettings Manchester

Property Management Manchester

lettings and Management Manchester

 Investing money in new vehicles means faster responses when you need us most, as part of our lettings and property management service we aim to maintain a high level of care to properties and reassurance to both landlords and tenants that no matter what the issue we are there to help in no time.

To learn more about our management and Maintenance services click here. If you’d like to talk to someone about letting and property management for Manchester contact us today.

Happy Holidays! From AMCO Lettings & Property Management

Happy Holidays! From AMCO Lettings & Property Management

Maintenance Manager Sean Senior enjoying his Christmas gift courtesy of AMCO Management

2015-12-17 16.52.44

If you’d like to learn more about AMCO Lettings & Property Management services contact us today

AMCO lettings and Property Management Manchester

What do Universal Credits mean for you

Universal Credit is a new type of support that is replacing six benefits including Jobseeker’s Allowance and Housing Benefit. With this new support there are a number of changes landlords need to know about if they have tenants who are on Housing Benefit. At AMCO lettings and property management Manchester we want to ensure you know the ins and ours of this new benefit as it changes the relationship between tenants and landlords and the way rent is paid.

Throughout Manchester, as with the rest of the country, Universal Credits will be paid monthly and the Housing Support portion will be paid directly to tenants, meaning they will be responsible for making and maintaining rent payments. Universal Credits also keep paying tenants as they gain employment simply reducing their credit amount as they earn more through employment meaning a smooth monetary transition that should mean there is no knock on effect for tenants paying rent as their support does not stop abruptly when they start a new job.

More information is outlined on the Gov.uk website, be sure to check through the information provided here as these guides explain what Universal Credit means for landlords, local authorities and tenants.

AMCO lettings and property management Manchester can answer any questions you may have about letting and renting property in the manchester area, get in touch today and get the advice you need.

AMCO lettings and Property Management Manchester

Rogue Landlord Consultation

Rogue Landlord Consultation Outcome Released

More than 600 responses were given to the document, including one from the Association of Residential Letting Agents (ARLA).

The technical discussion paper was launched in August this year. It set out a series of questions on various measures designed to combat the worst offenders in the lettings industry. Questions included how to tackle rogue landlords and dealing with abandoned properties.

Some of its key findings are:

  • 85% of respondents think that data held by tenancy deposit protection schemes should be made available to local authorities.
  • 95% believe that there should be a blacklist of persistent rogue landlords and letting agents.
  • 82% agree that additional criteria should be added to the fit and proper persons test for licensed properties, such as Houses in Multiple Occupation (HMOs).
  • 85% think that Rent Repayment Orders should be introduced for situations when a tenant has been illegally evicted.
  • 51% believe that a proposed new process for dealing with abandoned properties would be effective. This is when a tenant disappears without reason.

Some of the measures proposed in the technical discussion document have been included as provisions in the new Housing and Planning Bill, which has passed its second reading in the House of Commons.

Chairman of ARLA, David Cox, spoke at the Public Bill Committee last week to give further evidence on behalf of ARLA members.

Of banning orders, he said: “Sales agents can already be banned under the Estate Agent Act 1979, but it’s about time that the lettings sector followed suit. The easiest solution would be to add a section to the Housing and Planning Bill, which follows a similar structure as that already provided for estate agents in the 1979 act.

“However, it’s important that the banning order is placed on individual agents, not on a company or agency, and if banned as an estate agent you should be banned as a letting agent too and visa versa.”

You can read more here & here

AMCO Management are Manchester’s leading independent lettings company serving both Landlords and Tenants with property maintenance and management. For more information contact the head office on  0161 773 3978 or contact us today

property to rent in manchester

Landlords face new restrictions

Landlords face new restrictions despite a growing need for rental properties

Statistics show that by 2025, one in four Manchester households will live in private rented accommodation, as a result of cuts to social house building and private developers being “cautious about expanding too rapidly”.

Why, then, has the Government pulled the rug from under the feet of landlords? Why is it doing everything to deter them from investing in and letting new homes?

Increasing numbers of people are choosing renting as a lifestyle option, and 80pc of tenants are satisfied with their current landlord. Yet landlords are consistently being demonised by politicians, including now by the Treasury. This would surely have an adverse affect on lettings not just in manchester but throughout the country.

Almost nine out of 10 landlords are individuals, letting 71% of all homes in the private rented sector.

More than three-quarters of landlords own just one rental property. According to a survey by the Residential Landlord Association, over 60% believe that the Chancellor’s decision to restrict mortgage interest relief for residential landlords to the basic rate of income tax will push them up a tax band despite their income not increasing.

You can read more about the finance bill here

AMCO Management are Manchester’s leading independent lettings company serving both Landlords and Tenants with property maintenance and management. For more information contact the head office on  0161 773 3978 or contact us today

Commercial Lettings Manchester

AMCO Commercial Managing Arrow Mill

Arrow Mill is now being managed by AMCO Commercial Ltd

AMCO, the commercial lettings Manchester company now offers opportunities at Arrow mill include secure and cost effective bulk and self storage solutions in a convenient accessible location in North Manchester. With very affordable serviced office space available with onsite management and free parking.

Whether you are looking for the ideal storage solution for your business or personal belongings, or in need of new office space, AMCO commercial letting can offer you a simple affordable solution. You also have our assurance that we will beat any comparable price, should you find any of our services cheaper elsewhere in Manchester.

Based at Arrow Mill in Castleton on the outskirts of Rochdale, Arrow Mill is conveniently situated just off junction 20 of the M62 ready to serve Greater Manchester and the M62 corridor.

Bulk Storage

Commercial Lettings ManchesterWith over 300,000 square feet of available bulk storage space across five floors in our Grade II listed building, AMCO commercial lettings Manchester provides commercial storage and warehousing.

Storing goods for all sizes of business, clients range from small local businesses in Greater Manchester to large retailers scattered across the UK. The extensive warehouse facility here in Rochdale can very easily accommodate your storage needs whether you are looking to store a single pallet of goods or require bulk storage devoted to an entire floor. Find out more here

 

Container Storage

Commercial Lettings Manchester

If you were thinking of clearing out your garage, or needed some extra space, AMCO commercial lettings Manchester offers containers that are ideal for anyone looking for safe and secure outside storage in the Rochdale and Manchester area. The benefits of using the outside storage services include:

  • Drive up to and park outside your allocated container
  • Short or long term storage available
  • 24hr Security/CCTV

…and more, find out more here

Office Space

Commercial Lettings Manchester

AMCO commercial lettings Manchester also provide extensive and affordable serviced office space to rent.  So whether you need to rent 100 sq ft or over 5,000 sq ft you can be confident of finding your business the right size office space to let in Rochdale without it hurting your bank account.

The excellent transport links make Arrow Mill very accessible. Located on the A664 mere minutes from junction 20 of the M62 and Castleton train station is a 5 minute walk down the road. There are also regular bus services to Rochdale and Manchester close by. Find out more here

 

Self Storage

Commercial Lettings Manchester

If you are moving home, or looking to store some excess stock, maybe you just need some temporary storage? Whatever the reason AMCO commercial lettings can help you, you can be confident of finding the right storage solution to suit you.

With safe and secure self storage units in Rochdale at affordable rates from just on flexible terms for both domestic and business customers with no hidden extras. All self storage units are located on the ground floor and are easily accessible during trading hours. There’s ample free parking and a large covered bay for unloading/loading your goods. Find out more here

 

So for safe, secure and low cost storage or if you are looking for premises to rent in the Rochdale area, please visit our commercial site – Amco commercial lettings Manchester can meet your business needs and save you money!

The long awaited website is here!

Hello all.

This is the first post on our new website and we just wanted to say how proud we are to have finally completed. Of course there may be some teething problems to begin with but we hope to have these all sorted in no time.

We look forward to any feedback or comments you may have.

Also check out our commercial website at www.amcocommercial.co.uk

David

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