REFURBISHMENT OPPORTUNITY - who fancies some work?

http://www.rightmove.co.uk/property-for-sale/property-33227571.html

• This has turned up in my inbox this morning - a 3 bed with downstairs bathroom in the Mounts. 
• Easily worth £130,000 in tip top order - i'd get you £135,000 currently - but this requires full refurbishment - from the looks of things you'd need to take it back to brick. 
• Not one for the amateur, but if you refurbish properties for a living, there will be some money in this for you. 
• If you can haggle the price down to £100k, that would be even nicer!
• Rental of £650 in tip top order if you go down that route.

LANDLORDS: Belvoir offers a Price Match Guarantee

When a first time landlord meets us to ask for lettings advice, one of the first questions they ask us is "what fees do you charge". When it's an experienced landlord that question still features, but it's much lower down the list! I guess that's logical - when you're dabbling in an area you aren't a specialist in, and there's numerous companies offering similar services, the obvious temptation is to go for the one with the best price. I did this when I booked holiday car hire earlier in the year - a car is a car, isn't it - how wrong can you go? Well after I'd spent 10 minutes being transferred off the airport, 40 minutes stood in a queue, been stitiched up on the company's fuel policy and been given a car with 'eau de smoke' and tyres that certainly wouldn't have been legal by UK standards, it became pretty apparent that next time I should focus less on price and more on quality. 

It's the same with lettings agents. Your buy to let property is one of the biggest financial investments you're likely to make - so why would you then delightedly announce you've placed it with the cheapest agent in town? If your agent is charging you peanuts, are you really surprised when the staff aren't great, referencing isn't all that thorough, mistakes on tenancy paperwork are plentiful, inspections aren't really undertaken, and maintenance issues slip through the cracks. If things get really bad, and tenancy deposits are used to prop up the ailing business (it's happened in both Northampton and Rugby), should landlords really be surprised? The answer is NO, but believe me they are surprised! Why, I don't know - they wouldn't be surprised if the food quality at Iceland was lower than food quality at M&S, and most would opt to pay more for the latter.

As an agency, when setting our pricing, we make a distinction between REGULATED and UNREGULATED lettings agents. We also talk about ALL IN pricing. The second bit is easier to deal with first - don't just look at the headline % for managing the property, look at all the other fees the agent is proposing to slap on around the edges - before deciding who is offering the best price ALL IN. Regulation is harder to explain - the lettings industry makes a mess of it, as does the media, and most local authorities haven't got a clue. But basically, when a lettings agent is a member of a professional body  (ARLA, NALS, or RICS) the landlord can be assured 1) that key members of their staff do have some basic training, 2) that they've signed up to an external redress scheme so the landlord has someone independent to complain to if he isn't happy and most importantly 3) that some basic external audits are taking place to ensure that clients money isn't being used to supplement the agents own money. For this reason when a landlord says another agent is charging less than us, we will price match a REGULATED agent, but not an UNREGULATED agent. There's a guy in Northampton who runs an 'agency' from the back of his car, charges £50 for a tenant find and full management at 5% (no vat). Until 6 months he sold advertising space but quit so he could give lettings a go. Nice chap, but does that really qualify you to manage a property given all that could go wrong? I mean would you, really? 

Belvoir in Northampton and Rugby aim to price competitively in relation to other REGULATED lettings agents. For that reason, we will price match the (full written) terms of any other regulated agent in the same town but will not price match an unregulated agent. 

ANOTHER cracking deal, 1 bed house for £100k

We're spoiling you today.... here's another one!

1 bedroom house in Southfields (similar to the one pictured) up for £100k has just come on the market. Freehold property, rents at around £500 to a decent quality tenant, not housing benefit. We understand £95k not out of question but can't guarantee this.



Get in contact quickly if you're interested, this is a BARGAIN!
richard.baker@belvoir.co.uk

£100k 2 Bed House - Offers Considered

A good Christmas deal here for someone!

http://www.rightmove.co.uk/property-for-sale/property-33032355.html 

This is a tenanted 2 bed in Thorplands - current tenant paying £535 per month.

Advertised at £100k, the owner is keen to agree a quick sale to enable payment of care fees. An offer in the mid-low £90,000s may be acceptable.

Interested parties please get in touch without delay: richard.baker@belvoir.co.uk

BUY TO LET GUIDE 2015 (NORTHAMPTON)

Our Northampton Buy-To-Let guide has been updated for 2015, and you can download a copy from here. 

If you don't know the area it will give you a few ideas. If you want to buy a property but don't know where to start, it will give you a few more ideas. Shockingly, many of our competitors now have one of these guides too, but we're sure you'll agree that ours remains 'the daddy'!

For information or advice on buy-to-let options, please contact richard.baker@belvoirlettings.com. 

WE EMAIL INVESTORS WHEN WE SEE DECENT INVESTMENT OPPORTUNITIES - IRRESPECTIVE OF WHICH ESTATE AGENT IS SELLING THE PROPERTY. IF YOU WANT TO RECEIVE THESE EMAILS, PLEASE EMAIL northampton@belvoirlettings.com AND TELL US TO ADD YOU TO THE LIST.

DECEMBER IS A GOOD MONTH TO BUY PROPERTY

There's always a deal in December! With buyers thinking about other things and spending their money on other things, there will still be a few vendors that, irrespective of the time of the year, still need to sell. If you're prepared to stay the course, it's a good time of year to pick up property.

This has been the case for the last few years. Every Christmas since the market dropped in 2007, we've had landlords buy property at good prices, or have a bit of thinking time on a property where usually you wouldn't. You need to stay in touch with Estate Agents, who will know if they have clients who need to sell irrespective of the season. You also need to keep an eye on repossessions - usually these are hard to secure as the price rises as people outbid. With fewer people bidding, it's sometimes possible to get one bought at a sensible price. 

We will be keeping an eye on the market and everyone on our mailing list of everything we see. If you're not on our list, you can get your name added by emailing richard.baker@belvoir.co.uk. 

Northampton 2 bed flat with potential to improve - £65,000

What happened here? The agent booked an open day and had over 20 people coming to view. The opportunity for a quick steal disappeared!

I've been notified of a 2 bed East Street, ABINGTON flat which is about to come to the market. It needs work. Headline figures are:

• Buy it at £65,000
• Spend £10,000 - refurbishement required - we can arrange. 
• Two other flats in the same block have sold at £85,000 this year. 
• It will rent for £550, maybe £575 when done.

You'll need to be quick, and ready to proceed immediately. Please contact richard.baker@belvoir.co.uk without delay if this is for you.

Please do NOT come and try and drive the £65k asking price down - it completely ruins our credibility with the selling agent who have approached us because of our track record of introdcuing reliable buyers.

SOLD : FREEHOLD, £85,000, £495 rent, 6.7% RETURN, NO OFFERS

We've had this advertised a while now - it's become available again recently after a prospective purchaser proved to be less than good for the money! The vendor has reduced it - needs the money for other things, so just wants it sold - it's there to buy at £85,000 and not a penny less. For speed purposes, he'd prefer a cash sale. 

A 1 bed house in Dunnerdale, CV21 1QA.

This is the cheapest freehold property in the whole of Rugby by a mile - it's £100,000 for anything else. And it's tenanted - decent tenant too - so nothing for an investor to worry about once they've bought it. 

Potential Bargain in Kingsthorpe, £115,000

This has appeared too and is cheap at £115,000. It's a modern 2 bed mid terrace house.
The agent says it would "benefit from cosmetic improvement" but also confirms it has double glazing, gas central heating, and a modern kitchen.
That leaves me suspecting it needs a new bathroom, complete internal redecoration, and replacement flooring - the sort of thing we can turn round in 14 days no matter how horrible it looks! Given there are no internal pictures I rather suspect this does look horrible - don't let this put you off - you're going to spend maybe £5k on it, so even if you buy for asking price you'll end up committing £120,000 and having something that's really nice. 
It's in a decent private-lettable area and will be popular with tenants at £600PCM. Again, apologies for picture quality - people are getting wise to my scheming ways!

http://www.rightmove.co.uk/property-for-sale/property-33006648.html

Modern 3 bed, £125k, £625 rent = Good Bet

Apologies for rubbish picture quality.

Just advertised by a town centre agent - this is a modern three bed that look as if it needs no more than cosmetic work to get it ready for rental. The basics seem to have been done with gas central heating and upvc double glazing and once tarted a bit (we will assist), this will rent for at least £625 in the current market. 

If you're aiming for a freehold property, below stamp duty (and I'm guessing this property is aimed at £125k), and are put off Victorian Terraces by the potential for hidden problems, the world is by no means your oyster! As such something like this should feature prominently in your thought process. It will attract the first time buyers too though, so be quick.

http://www.rightmove.co.uk/property-for-sale/property-47361857.html

Modern 2 Bed Flat £95k

This has just come on the market - a modern 2 bed flat which is very lettable and to good quality tenants. Rent up to £600 PCM, service charges in this block are a little more than you'd like but it's £95k! At the moment the only thing you can buy for less is a council flat, which this clearly isnt! Good buy for someone.

Click here for more details: http://www.rightmove.co.uk/property-for-sale/property-31735659.html

Any queries let me know.

MODERN 2 BED HOUSE, NICE AREA, £135k (OR THERE ABOUTS)

A nice safe one here for someone. 

I viewed this property this afternoon. It's a modern build 2 bed house, with recent double glazing, central heating, decor and flooring. The bathroom and kitchen are in good order, but dated. Less than £5k to replace the pair. Not essential now, but probably a job for the next 5 years.

It's tenanted - good quality tenant, only paying £500PCM. Should be more - at least £600PCM. 

The property is in the village of Roade, NN7 and is only 1 mile from J15 of the M1, so an excellent and very lettable location. 

I understand from the agent that there's a deal to be done here and a price in the mid £130s may be achievable. It's comparable to a Hunsbury style house which would trade at £145k to £150k at the moment, so for this type of property that's a very good deal.

Interested? Please get in touch at richard.baker@belvoir.co.uk.

ALLSORTS - Properties from £50k to £170k

A few things have come in this week and are about to get listed for sale, at a range of levels in the market. If you like really cheap with a high return, there's something in Bellinge. If you like middle of the road - staple rental territory - there's something in Rugby town centre. And if you like a slightly more upmarket property that will appeal to the family market, there's one in St James.

£169,995

• Duston Road, Northampton, 3 bed semi with garage.
• Decent area, decent property, will attract a decent tenant @ £750PCM. 
• Over 5% rental return.

£116,000

• Craven Road, Rugby, 2/3 bed Victorian terrace.
• Tenanted already at £550PCM.
• Nearly 6% return.

£50,000

• Chester House, Bellinge, Northampton.
• 1 bed leasehold flat with over 150 years remaining.
• Not the best flat 0r area - what do you expect for £50k?
• Not damaged, not in disrepair, but dated throughout.
• It will rent for about £375 privately or £420 housing benefit. 
• A 9%+ return for someone.

richard.baker@belvoir.co.uk if you have any queries. Don't leave it too long, especially on the last one!

DEALS! (or things that we think look quite interesting!)

We’ve noted a few properties that are NOT advertised with us, but are probably worth further investigation. We’re seeing slightly more value in the market now, compared to the summer months.

We copy in our list of investors. If you want to discuss any in more detail, please contact Richard 
(richard.baker@belvoirlettings.com)

http://www.rightmove.co.uk/property-for-sale/property-31921101.html

£750 would be a sensible rental price for this. And it’s a fairly modern property.

http://www.rightmove.co.uk/property-for-sale/property-48843446.html

This is cheap. Min £575 in rent.

http://www.rightmove.co.uk/property-for-sale/property-32726139.html

Min £500 in rent. Nice area.

http://www.rightmove.co.uk/property-for-sale/property-46840187.html

Min £650. Looks to be in decent order.

IMPORTANT : Local Authority Licensing

This is an important blog and affects many landlords with properties in NN1, NN2, NN4, NN5.

The Local Authority is introducing an additional licensing scheme from 01 November 2014 which is compulsory for all properties that meet certain characteristics.

The Local Authority says this is to "improve standards in the private rented sector". It will cost landlords £323.25 for a 3 year license. The Local Authority also says "Landlords with licensable properties who fail to apply for a licence may face fines of up to £20,000, a criminal record and potentially rent repayment orders and a management order where the council takes control of the property". 

Which properties are becoming licensable?

Properties that require a license under the 'additional license scheme' will have the following criteria:

1. be within the area defined on this map.
2. AND have living accommodation on the ground foor and first floor ONLY. (properties with 3 floors, or a formal room in the cellar are exempt (no joke - don't even go there)).
3. AND be rented to 3 or more unrelated people. This is where it gets interesting. My understanding from conversations with the local authority is that a couple (married or unmarried) plus one of their siblings will not require a license as they are all one family unit. However 3 unrelated sharers will require a license. And a couple (married or unmarried) plus one of their friends will require a license too. 

What will getting a license involve?

This isn't 100% clear as the Local Authority will visit and assess each property individually. However as a minimum we understand they would expect to see:

1. The fee of £323.25 for 3 years.
2. Self closing fire doors to all rooms.
3. A mains powered interlinked smoke alarm system (category D). 

Clearly this is good fun for all landlords. Further details of the scheme can be found here.

CHEAP CHEAP! Why has no one bought this?

£120,000

Come on ladies and gents - this hasn't sold yet and there's no logical reason why. People contact me constantly and say they want something that's a bit underpriced and this certainly is - my landlord just wants rid!

It's a tenanted 3 bed house in FAR COTTON. It may not be beautiful but it's solid and already rented, It could do with improvement in places, but there's nothing major. The current rent is £550 - that's because the current owner doesn't push things too much - it should be at least £600.

Get on rightmove and check the price of other 2 and 3 bed houses in the locality. You'll find this is about £15k lower than the rest. Amazed it hasn't sold - there's a definite opportunity for someone. Now £119,995 to get rid!

SOLD Freehold 1 bedroom cluster house less than £90k

This has popped up in the last 48 hours with another agent and is a good freehold bet for somebody. It clearly needs updating but these places are tiny and even if you pay asking price and then spend £5k on it you can't really go wrong with a rent of £475. May be sold already but contact us quickly if you do want the agent's details.

Duston NN5 - Very Modern 2 Bed Apartment - £550 on £97,500

2 Bed Apartment - £97,500

Alfred Knights Close, Duston, NN5 

This is something that will interest those of you that buy modern flats. This is a 2 bed flat - I expect it isn't huge - but even so will rent without any trouble at all at £550 PCM. 

These things are about 5 years old and situated in an upmarket area slightly further away from the town centre therefore attract an older clientele - hence tenant quality should be pretty good. 

It's not listed with ourselves so if you want more details please let me know and I will put you in touch with the agent in question. richard.baker@belvoirlettings.com

Properties Required in Rugby

HELP! WE'RE OUT OF PROPERTY!

We appear to be a lettings agent with no properties to let! This isn't usual - we've never been in this position before in 10 years of trading - and it's a reflection of the high demand that currently exists for rental properties. (If you're wondering whether to invest, here's one indicator that shows you shouldn't be short of a tenant).

We manage just short of 300 properties in Rugby and at any point in time usually have 10-15 available for let. We've had a busy couple of weeks and literally have nothing left. I'm sure that by the time this prints someone will have given notice, so we'll have something available, but that won't change the general theme that we're really short of properties. Importantly also, our rental arrears are practically zero - so we're still maintaining tenant quality despite the fact that everything is letting.

If you have a property that you're struggling to let, please let us know. At the very least it give will our negotiator something to do! We're more than happy to visit any property in Rugby and the surrounding areas to assess rental potential, and if it is a property you're

struggling with we'll offer sensible and honest advice regarding how to get it tenanted.

Richard Baker

SOLD Over 6.5% on a fairly safe £80k investment

Hunter Street, The Mounts, Northampton

http://www.rightmove.co.uk/property-for-sale/property-31728792.html

This is a nice flat close to town centre that will rent for at least £450 to a nice tenant. I saw it 12 months ago when it was in a state of disrepair - it looks to have been modernised so is offered in a nice condition.

Flats like these make good additions to a portfolio as they are relatively inexpensive, and whilst they have a lease there's rarely a formal service charge - so none of the expenses of a more modern flat.

Ideally I'd like to buy it for £80k, and I don't know if offers are being considered. However it's hard to find good value property in the current market, and this one certainly fits the bill.

Please feel free to email me for further details richard.baker@belvoir.co.uk

Christmas comes early!

SOLD 1 bed FREEHOLD cluster house, Little Billing

We're advised that this property will shortly hit the market, in good order with modern kitchen, bathroom, and gas central heating. Price £89,995. It will rent for £475, maybe £495.

It's similar to this pictured.

This is a good bet because it's about as cheap a FREEHOLD property as you can get in Northampton. It's very small, but these things are VERY rentable. It's in a decent area too - we can rent to private tenants without any issue. The build is 1980s, so none of the issues associated with Victorian properties.

Please email me without delay about this if interested. You'll need to view immediately, or be prepared to buy on my say so!

richard.baker@belvoirlettings.com

Time to Raise the Rent?

In the last 6 months we've raised about 200 rents - far more than we would usually do in a 6 month period. Landlords are benefitting from changing market conditions - longer tenancies and fewer available properties mean rents are creeping up in both Northampton and Rugby. They haven't moved massively - Northampton and Rugby remain 2 towns in the Midlands(!) - but properties that are well maintained are trading at maybe £25 to £50 more than they were 12 months ago. 

When can you raise the rent?
Earlier in the year I was asked by a landlady what she paid me for, as I hadn't raised the rent on her property every 6 months as another agent had told her I should. Rents can be raised annually, and once they have been raised they can't go up again for another year. That's the law. 

Why NOT to raise the rent!
For some landlords, the rent review date is the main event on their lettings calendar. It shouldn't be - the gas test renewal date is far more important, as the primary focus of any landlord should be to ensure they are legally compliant and don't end up in a situation where someone can sue them. There are a number of things a landlord should bear in mind when considering a rental increase:

• A rental increase is not an entitlement. It doesn't follow that just because a tenant has been in a property for a year, the rent needs to go up. I've been a lettings agent for 8 years and there have been occasions where the landlords has agreed a rental reduction with a tenant in order to ensure that tenant doesn't leave. Those were the market conditions at the time, and sensible landlords needed to adjust to reflect this.
• A rental increase does not relate to the landlords own costs. If your mortgage has gone up, or you are saving for a holiday, that doesn't mean your tenant is liable for more rent. We hear this sort of thing argued more often than you might imagine. We've never heard landlords who are experiencing low interest rates (as many are currently) argue that their tenant should get a rental reduction, by the way!
• A rental increase does not relate to what you've read in the newspapers, the fact that you may have had an increase in another town, or the fact that your friend may have increased the rent at his property locally and got away with it! The amount of rent chargeable relates to the state of YOUR property and the local market.  
• It's possible of course that your tenant can't afford a rental increase. The current rent may be stretching them already and the extra £20 you're proposing will mean they either fail to pay or choose to leave. This may not bother you if you can get another tenant at the higher sum, or you may decide that losing the tenant over an extra £20 is actually a false economy when a small empty period and the costs of re-let are considered. Different landlords have different views. 

Why you SHOULD raise the rent.

So at a simple level, the only real factor in determining whether a rental increase is appropriate is local market conditions. You may not have had an increase for 6 years, but if your tenant can go and find a similar size and standard of property locally at a lower rate, it's going to be hard for you to justify an increase. If your property is managed by an agent, you'll have the benefit of being guided by them - remembering that they should know the local market better than you as it's their job! Agents are usually on a cut of all rent received so it's in their interest to propose rental increases where appropriate - but like you they don't benefit from an empty property, so it's unlikely they'll propose an increase where one can't be justified - the safest thing is to leave it to them. Equally, tenants aren't stupid! If they can see the rent you're proposing is fair in relation to the property and the market, they'll pay it. If they think you're seeking an excessive rent, there's every likelyhood they'll take their business elsewhere. 

What to buy in a rising market?

I was viewing a place with an investor earlier this week, who complained that he had no decision making time - properties were being sold before he'd had time to think, and sometimes even before he viewed. I sympathised, but when he phoned me 24 hours later to make an offer, I'd sold the property in question already!

That's the way things are currently and have been for some months. Investors who have studied the market and know what represents a good deal will have the confidence to jump in when they see something sensible. Those who are less sure will hesitate, and lose the property to someone else. In short, you need to study the form!

There are decent deals out there though. See:

http://www.rightmove.co.uk/property-for-sale/property-28501206.html

Someone is buying this for £62k! Yes, it's not mortageable. Yes, the service charges are high. But it's 100% rentable for an absolute minimum of £550 and even with that service charge, the purchaser is going to get a much better return on his money than his bank is currently paying.

http://www.rightmove.co.uk/property-for-sale/property-43404508.html

Again a flat with a higher service charge. But the most popular rental destination in town, and a good return for someone. You can mortgage it, and it's only £75k - you won't get less in Northampton without going onto a Council estate.

http://www.rightmove.co.uk/property-for-sale/property-43877812.html

These things are tiny, freehold (I believe), and very rentable. You'll get at least £450 for this. It probably needs a few thousand spending to get it to the sort of standard we like, but nothing we can't sort within a few weeks. Cheapest freehold buy in Northampton?

http://www.rightmove.co.uk/property-for-sale/property-45727235.html

A 2 bed house in Abington. Worth £145k in tip top order. Unfortunately this one isn't and needs full refurbishment. There's money in it for someone once done though. £625 to rent it once finished as well.

SOLD! - 2 bed house for £100k

This has come around again after the purchaser was refused for a mortgage.

This is now a TENANTED 2 bed house at £550PCM. Private tenancy. Fully insurable. Property is in good order with no expenditure or improvement required.

It's on the Costa del Bellinge, and whilst you may choose not to holiday there(!), you'll be fine when it comes to quickly finding a tenant who will. It's actually a really nice little house as the pictures should show.

You can see example return on investment figures here (assuming you're buying with a 75% mortgage).

You can see full sales particulars here. 

Email me about this if interested richard.baker@belvoirlettings.com and I'll arrange a viewing. It may get formally advertised, but I rather suspect it will sell prior.

SOLD SAME DAY! £82K for a £475 rent

This has popped up, which in the current market is quite interesting. It needs some updating but is on one of the best roads in Abington and after some slight improvements, will be very popular with tenants. In terms of rent £475 should be about right.

Although it is Leasehold,  as it is a Victoria property you don't get squeezed with service charges as you would on a more modern development. I understand annual charges are less than £400 and the Lease itself has over 100 years to run.

Clearly this will shift quickly at the price quoted so please get in touch without delay if you are interested. 

Investors Switch Back to Flats (May 2014)

Every month we take on a few new properties that investors have just bought. In the last few months it's been noticeable that these are flats rather than houses. 

In recent years, many investors have opted for houses or other freehold properties - prices had dropped since the peaks of 06/07 and flats were considered less attractive due to the associated service charges and depreciating lease. 

But the recent upturn in property values since the Government intervened in the market in late 2013 means that the price of freehold properties have risen and that flats again are becoming the more attractive investment option. Yes, there are service charges, but when a flat now costs £20,000 to £30,000 less than a similar sized house, many investors are coming to the conclusion that even with the service charges, flats are the better investment. 

Take the following properties - which would both rent for £600 - as an example. The flat is fairly standard - there are plenty of them around. 2 beds, clean, modern, ready to move in. You can pick one up in the current market for £105k to £110k and a tenant will follow very quickly thereafter. The service charge will be about £1000 on an annual basis. Maintenance costs can't be guaranteed but should hopefully be lower as the building is newer and anything to do with the fabric is covered as part of the lease.

If you want £600 of income, the alternative would be a 2 bed house somewhere around town. The market has moved on these recently and something like this will cost you upwards of £125k in most areas of Northampton now, and over £140k in places such as Abington or Hunsbury. There's no service charge. Again maintenance cannot be guaranteed but you're liable for the fabric of the building which is likely to require more attention given the age of the building.

So the trade off is an extra £25k up front vs. an extra £1k per annum in service charges and with that considered it's fairly obvious why the more commercially focussed investors are now taking flats over houses. The logic doesn't follow for everyone though - a 2 bed Hunsbury house was recently sold to an investor by Harrison Murray for in excess of £150k, so there are some who will still pay the premium for what they consider is the right product. The general trend is interesting though - flats are enjoying a renaissance!

Facts about flats:

1. There's no shortage of demand - we can rent flats just as well as houses.
2. When the property market dipped in 07/08, flats were hit hardest, so there are more bargains around now.
3. The value of flats is affected by the length of the lease, but not until the lease gets down to about 80 years - most 'new build' flats built during the early 2000s have well over 110 years left on them.

SOLD Lovely East Hunsbury 2 Bed, £145k

Despite my attempts to get people to go after a more aggressive return, this type of property remains one of the most popular with investors.

This one is in really good condition and will sell for very near asking price I'd have thought. It will rent in the current market for AT LEAST £625pcm, and very probably more. It's a 2 bed house (freehold) and doesn't look like it really needs anything in terms of upgrading.

It's not marketed with ourselves, but interested parties, please get in touch.

Belvoir Rugby : Best Lettings Agent in the West Midlands

I'm going to engage in a bit of shameless self promotion today(!) as I'm pleased to announce that my Rugby office received the gold award for the West Midlands in the 'Best Lettings Agent' category, at the 2014 Estate and Lettings Agent Awards (ESTAS) - think Oscar's for the Property industry!

The really pleasing thing here is that the votes are cast by Landlord customers, which adds some legitimacy to the proceedings! We have about 20 direct competitors in Rugby and, we believe, around 4000 across the West Midlands, so to come out on top of the pile is no mean achievement.

Those of you that know me will appreciate I don't get too hands on in Rugby! Whilst I own a 50% share of the business, day to day matters are handled by my co-owner Rosie Callaway, who is ably assisted by Lettings Manager Wendy Hadley and Lettings Consultants Naomi Rowe and Louise Burns. The aim has always been to deliver service levels that are a cut above, and whilst we feel we're generally doing OK, it's really pleasing when feedback from customers is overwhelmingly positive - the team at Rugby deserve huge credit for the efforts they put in on a daily basis, and the award they have received. Pictured below are Wendy and Rosie with the award together with some gate-crasher they've clearly picked up along the way.

Properties With Tenants in Situ (May 2014)

Been away for a while, but we're back with a vengance with a summary of all properties currently available with a tenant in situ. We've built up quite a range here, and there are things to suit those on a limited budget and those who can spend a bit more. Equally there are things for people who will take a less fantastic area in exchange for a better return, and things for people who only like to buy in the nicer areas. Summary as follows:


If you can't see this, get a larger copy here.

A few notes to clarify:

Con
This relates to property condition. Clearly we can't be scientific, but to give you an idea an A property should be pretty nice inside and a C property will be pretty basic. 

Area
Again, different people have different views. But we've categorised every property has been given an area. C areas will be ex Local Authority and A areas will be generally considered to be the nicer ones in town. 

Yield
This is calculated on the straight forward 'rent times 12 divided into asking price' which most agents use to calculate return. Clearly this doesn't take in to account any of your likely costs so in our view isn't very realistic.

ROI
This is return on investment and assumes you are putting down a 25% deposit and mortgaging the rest. Importantly it includes all your likely costs too, so compares the rental income to the actual amount you've invested - money which would otherwise be in your bank account. Most serious investors agree this is a much more sensible way of calculating return, myself included. 

Happy to discuss any properties as required - richard.baker@belvoirnorthampton.co.uk if you have any queries. 

Contractors!

We are updating our list of approved contractors and are keen to hear from people who may have skills in the areas below. This may be your main occupation or something you do in your spare time. It’s important you have your own tools, equipment and transport, plus if the job is a regulated one (eg. Gas Engineers) you must have the required paperwork. It’s also important that you have some time in your diary – the nature of our business is that we need things done quickly, so if you’re booking 6 weeks in advance you’re no use to us. If English if not your first language, your English must be good enough for you to deal with us by telephone or email – we do not visit jobs with contractors every time.

1. ·       Ground workers (lay turf or a patio etc)
2. ·       Gas Engineers (Gas Safe only)
3. ·       Plumbers (fix leaks)
4. ·       Fencing / Decking (repair or replacement)
5. ·       Painting and Decorating (but only people who prep properly and do a good job!)
6. ·       Clearance and cleaning  (end of tenancy)
7. ·       Electricians (qualified)
8. ·       General handymen
9. ·       Roofers
10. ·       Plasterers (tidy ones!)

If you have any skills in these areas, AND you have availability, or know someone that does, please EMAIL me (don’t call!) and let me know what you can do. 

We're aware that most lettings agents will let you charge them anything, and aren't too fussy about quality. We expect a good job at a reasonable price.