SOLD - MODERN APARTMENT, £127,500 AND TENANTED

Still no sign of a post-Brexit wobble as prices continue to creep up and anything less than £150,000 that isn’t massively overpriced continues to sell more or less immediately.

There’s a potential deal here for someone – not a world beater - but in the current market a perfectly decent bit of business. This is a modern flat, eternally rentable, in a good area, already tenanted at £650, well presented, void periods over 6 years almost zero. I think I can get £127,500 accepted on it – 95% sure.

Full details here - http://www.zoopla.co.uk/for-sale/details/41413918. Any questions to richard.baker@belvoir.co.uk as usual. Please don’t be the person who asks in 14 days if it’s still available!

LEGAL UPDATE : Accelerated Possession Timescales Improve

Whilst we need to seek possession of properties through the courts rarely, when we do it can be quite a drawn out process.

Things have improved recently though as the court will now award a landlord possession automatically and without a hearing if a) the papers are served correctly and b) the tenant doesn’t submit a defence, which usually they don’t. It’s a small ‘win’ for landlords, but when there are tenancy arrears one that they will be happy to take – we recently applied to the court on 28 September and have been given a date of 12 November for possession – we’ve probably saved a month or so.

The Council don’t assist of course. Their advice to tenants, which is legally questionable, is still to remain in the property as long as possible (although they word it more carefully) which draws out the amount of time it takes a landlord to recover his property from a non-paying tenant. But none the less, I’ve been doing this for 10 years plus and the amount of time taken to recover a property has only ever increased – so speeding things up by a month is something to be welcomed.