HELPING LANDLORDS
This week a lovely couple came into the office with a hand full of properties (from other agents) they had been to look at and wanted to know which of them in our opinion would achieve the best rental prices and would attract good quality people.
One of the first things I noticed was the sales agents had written estimated monthly rental prices, these in my opinion were very top heavy. We sat down with a cup of coffee and looked at ‘realistic rents pcm’ that will ensure their outgoings were covered, meaning anything above was a bonus. Owning Move On for over 17 years and working within the industry for 35 years, I know my ‘stuff’!
- We are able to provide real data on rental prices.
- Advise on good areas and not so good areas
- How long the average tenant rents for
- What type of tenants for certain properties and areas.
- Adding in void periods
- Legal costs such as Gas Safety certificates, Electrical, Legionella, smoke alarms, co Alarms etc
- Buildings and contents insurance.
- Block management fees if a flat or leasehold property.
With all the facts and likely expenses, the investors could realise the true return on their money, which automatically cut out two of the properties they had. With the remaining four properties, we simply looked at the areas that would not only attract good quality tenants now, but would also attract a buyer if they need to or wanted to sell in the future.
Thinking of buying, give me a call 01202 711169 or email sharon@moveon.biz
Sharon
If you are looking to, rent, buy, sell or invest, then choose Move On because it what we like to do best!
Investment Properties