Welcome to your monthly property update!

Station Road, Kettering

This seriously impressive apartment occupies the second floor of this exclusive development with the added convenience of a lift.

£900 PCM

Click here to read Station Road, Kettering.

Kettering

A good sized three bedroom semi detached property, situated on the ever popular Brambleside estate in Kettering.

£1,100 PCM

Click here to read Kettering.

Does 2024 hold a better future for landlords and tenants?

The rental market in the UK is going from strength to strength. Despite the negative news stories in the press, there is much to look forward to and celebrate as we enter another new year. A better deal for landlords and tenants, beautiful properties, and new landlords entering the market promise to add a breath of fresh air to the entire industry.

Good demand
Rental demand is growing, and many new landlords are entering the buy-to-let business as some choose to retire. This will bring new ideas and a fresh approach to the industry. If you are a tenant, you will benefit from higher standards of property. Landlords now take a long-term view of property investment and the energy efficiency standards that are required today. This improves life for both landlords and tenants.

A fresh supply of properties
It’s no secret that there is a shortage of property, both for sale and rent, in the UK. This will continue in 2024. However, the good news is that the first-time buyer market will most likely continue to be buoyant. As first-time buyers move out of their rented properties, more will appear on the market for you to rent. So, it’s worth keeping in touch with a letting agent. Landlords will also benefit from lowering interest rates and falling inflation, meaning they can expand their property portfolios, adding to the supply of rental properties for tenants. Lowering inflation will also make life easier for tenants, as it helps reduce the cost of living

The Renters Reform Bill
This has now had its second reading in Parliament and is at the committee stage. It aims to deliver reforms that will make life fairer for tenants and landlords. Despite the scaremongering, landlords need not fear. Landlords will be able to carry out referencing and have the final say as to who they let their property to. Landlords will also be able to recover their properties more easily, particularly from anti-social tenants breaching their tenancy agreements. Tenants will benefit from safer, better-quality homes, with fairer tenancy agreements, more rights for their pets, and the ability to challenge landlords for unlawful evictions. However, the Renters Reform Bill is not expected to become law until the end of 2024 at the earliest.

A crackdown on rogue landlords and tenants
Increased levels of legislation, such as the Renters Reform Bill, will help to stop rogue landlords and tenants in their tracks. This is good news for both parties, as it will prevent unscrupulous landlords from undermining the positive reputation of the industry. Tenants will have a better choice of nicer properties. As these landlords move out of the industry, tenants can move into better properties provided by good landlords. The landlord-tenant relationship thrives when you place good tenants in great properties. It will be more possible for this to flourish in 2024 since the landscape will have advanced in a way never seen before.

More landlords and tenants will choose managed services
Life for tenants and landlords will be made much easier with a managed letting service. Tenants don’t have to worry about searching high and low for a good property, and landlords can find good tenants with all checks in place. When it comes to maintenance, it can be taken care of swiftly, which saves a lot of time for landlords and is incredibly reassuring for tenants. Rent collection is also made more convenient for both parties, and that’s just some of the ever-growing facilities agents can offer.

Conclusion
2024 is set to be a good year, with more rights for tenants and landlords. Renting has many advantages over buying. You don’t have to worry about maintenance; the deposit is smaller, and you can make a move quickly. With more reforms on the horizon and new landlords entering the market, landlords can add to their portfolios or start from scratch in a stable market, which will protect their investment. Tenants will be able to enjoy a greater choice of better properties.

Are you looking for a new home to rent or want our expert team to manage your property? Get in touch

What will the 2024 UK property market look like?

It’s impossible to predict the future completely, so why worry? When homes sell incredibly quickly, this often leads to rapid property price inflation. Right now, the market is stable and not growing rapidly, which makes it a good time to move. You have a little more scope for negotiation while still achieving a great price for your existing home, as it will have gained in value in recent years. With inflation falling in November by 2% to its lowest levels in two years to 4.6%* and wages rising, the market is returning to normal. The expectation is of slowly falling rates and rising property prices steadily emerging towards the end of 2024, but could this occur earlier than expected with the January rush?

Winter

Winter 2024 begins in December 2023, as many homemovers get a head start on finding a great home before January. Sellers are itching to move, having placed their homes on the market in time for scores of viewers, who create a Boxing Day home moving boom. In fact, the week of Christmas is one of the busiest times of the year.

Spring

Those who have waited to move in January will now place their homes on the market as the property market gets into full swing. Added to those who decided to take the plunge by moving into their dream homes in time for sprouting daffodils. As mortgage rates become more competitive, combined with a strong beginning in 2024 with better buyer affordability, there will be real momentum in the market.

Summer

If you have already bought your home at this point, you may have got the timing just right. In many ways, 2024 is a good year to buy and then gain the rewards of good growth in the following years. Overall, the outlook appears steady, with a lot of stability. You could be sitting pretty with a garden in full bloom and concentrating on a holiday, knowing your property plans are sorted and all you’ll need to do is make the most of enjoying the reality that was once a dream.

Autumn

This appears to be the only season of change, and perhaps we are tempting fate to look this far into the future. But if the predictions of analysts are correct, mortgage rates will start to decrease further but not return to the extreme lows of the past. As a result, property prices will start to rise more rapidly.

Your agent can transcend time

Any time is a good time to move; it’s more about you and your home. Good estate agents hold the keys to optimising your situation at any time of the year and are becoming extremely adept at the entire moving process. Today, they are armed with vast databases of homemovers that connect your home with the right buyer quickly. They can help broaden your mortgage options with the right mortgage advisor and fine-tune the value of your home, which is critical in today’s market. Finding the property that will improve your life immeasurably will help you feel awesome all the time.

Bank of England*

Have you double-checked your tenancy agreement?

When you have found the perfect rental property for you, it can be very tempting to sign on that dotted line in a hurry. However, before you do, it is crucial to give your tenancy agreement a thorough read-through with the help of your letting agent so that you comprehensively understand the terms and conditions.

Personal details
You should start by making sure all the personal details on the contract are correct, including your name, the new address, and your contact details. If there are any mistakes, no matter how minor and insignificant they might seem, it is crucial to inform your letting agent immediately so that they can edit the agreement accordingly.

Rent and payment details
It is important to check that the rent amount stated in the agreement is correct and that you are aware of the dates on which payments should be made. It should also state the security deposit amount and its due date, as this needs to be paid in advance.

Duration
Whether it's a fixed period or a month-to-month tenancy, the start and end dates should be clearly stated in the agreement. It should also specify how much notice is required before the tenancy is terminated.

Maintenance and repairs
A tenancy agreement's maintenance details are essential for outlining responsibilities for maintaining the property. It is important to fully understand what aspects of the property’s maintenance you are responsible for to avoid any disagreements or fines.

Bills
You need to make sure you are aware of who is responsible for paying your various bills. It is usually the tenant’s responsibility to pay for standard utilities such as internet, council tax, and energy, but it is also important to double-check that the contract doesn’t have any additional bills that you need to pay.

Rules
You must make sure you are aware of any rules and regulations listed in your tenancy agreement. These can include a range of different issues, including rules regarding pets, noise, and decorating. If any of the agreement’s rules are broken, the landlord may issue a warning or a fine, and they could even terminate the tenancy if the rule break is more severe.

Termination
In order to protect the rights of both the landlord and the tenant, the agreement should detail the conditions and procedures for termination. As well as specifying the required notice period, it should also state the potential reasons for termination by the landlord, such as failure to pay rent and breaches of contract by the tenant. It should outline the procedures for renewal, if applicable, as well as the potential reasons for the tenant terminating the agreement early, such as uninhabitable conditions and breaches of contract by the landlord.

If you are in doubt about anything in your tenancy agreement, it is crucial to get in touch with your letting agent so they can assist you with your queries. They can also help you negotiate with the landlord if you would like any amendments to be made to the agreement. Only once you are sure that you fully understand and are happy with the tenancy agreement should you sign it. Once you have done so, make sure you keep a copy of it so that you have access to it during your tenancy, as it could be needed in the case of any disputes.

Looking for a new rental property? Get in touch today

Brassing Around Gala ConcertSaturday, 6 January 2024

A fantastic brass band concert filled with some of the best players from around the country, an exciting evening full of entertainment!

Click here to read Brassing Around Gala ConcertSaturday, 6 January 2024.

New year, new home, new beginning?

Here we go again! Another new year, another chance to find everything you are looking for in a property. Could 2024 be the year that you have all the right questions answered with a lovely new home?

A new year

With visions of a better year ahead for 2024 popping into your head, you are forgiven for feeling excited about moving. The Christmas break is the perfect time to start searching as thousands of properties magically appear on the market. Sitting back in your favourite chair by the fire when you have some time to take a step towards a better future is a nice way to relax. A new year always brings new opportunities. If you see yourself and your loved ones sitting in a better garden, enjoying a bigger kitchen, or beaming with smiles because you are living in the location you love, then talk to your agent. The past year has been strong and proves that the UK property market is extremely resilient. Buyer demand is still incredibly strong, and prices are stable. At this time of year, you have the best of all worlds. There is plenty of buyer activity, but also plenty of people who will wait until the market is in full swing in the spring. That means high demand with not-so-high supply, which could lead to a swift sale and the new home you have been looking for.

A new home

The past few years have been eventful, but 2024 looks like it could be the year in which things settle down, which is why many people will choose to do exactly that. Making new friends in a new location, even if it’s in the same town, is an opportunity to make a fresh start. Decluttering your life from all the stuff you have collected over the years is a liberating experience. There is something extra special about doing this as the year begins. Are you craving a better property with a garden and an outdoor living area to cherish, that is, energy-efficient, full of character, cosy, and airy at the same time? Could a move mean a better education for your children? Could it lead to a happier life? Create a healthier life closer to family? A holiday home or a buy-to-let investment? Whatever you are interested in now is your opportunity to make a move before the property market takes off again.

A new beginning

There is so much to feel positive about as we head into 2024. Interest rates are stabilising, leading to lower mortgage rates and an increase in the number of mortgage types available. There is more time to pay with longer terms, interest-only options, porting, green mortgages, guarantor mortgages, interest-only and offset mortgages, which allow you to use your savings to reduce your balance, meaning you pay less interest. Agents’ listings are full of properties that have had a lot of work carried out, elevating them to new standards. And the market looks nicely placed due to its steady pace built on solid foundations. This is based on high demand and a high rate of mortgage-free home ownership. Don’t be jealous; this helps keep the property market financially secure. In 2021, 32.6 percent of dwellings were owned outright in England.* The market has become more complex than ever, and properties are becoming more individualistic. It takes real expertise and market knowledge to optimise your home move, so you can make the most of your new beginning.

This is money*