Not sure of the reason why, but we have a lot of landlords currently who are doing larger works to their property - and we have many more lined up for later in the year - far more than we've ever had previously.
This ranges from landlords who are buying properties that are in a mess then letting us sort them out before putting tenants in, to landlords who have tired properties that have been rented for many years - by upgrading them they increase their rental value and the property value also.
One we've just finished is here - a 2 bed property in Wootton Fields. This had been rented for several years. The tenancy ended in early May at £680 per month - we've arranged a new kitchen, bathroom, boiler, decoration, flooring - and a new tenant has moved in 5 weeks later at £800PCM. It's cost the owner just under £10k but whereas his property was previously worth about £180k I'd be confident of selling it for £200k now it's all nice and sparkly. He's not selling - he'll continue to rent for some years I suspect, but by investing further in his rental property he's a) increased its value and b) ensured his rent is maximised.
My message to anyone thinking of buying a property to let is not to worry about buying a dated or dirty one, AS LONG AS IT'S REFLECTED IN THE PRICE. We can sort it out quickly and at a fixed cost and you'll then end up with something nice, new, and very rentable.
This ranges from landlords who are buying properties that are in a mess then letting us sort them out before putting tenants in, to landlords who have tired properties that have been rented for many years - by upgrading them they increase their rental value and the property value also.
One we've just finished is here - a 2 bed property in Wootton Fields. This had been rented for several years. The tenancy ended in early May at £680 per month - we've arranged a new kitchen, bathroom, boiler, decoration, flooring - and a new tenant has moved in 5 weeks later at £800PCM. It's cost the owner just under £10k but whereas his property was previously worth about £180k I'd be confident of selling it for £200k now it's all nice and sparkly. He's not selling - he'll continue to rent for some years I suspect, but by investing further in his rental property he's a) increased its value and b) ensured his rent is maximised.
My message to anyone thinking of buying a property to let is not to worry about buying a dated or dirty one, AS LONG AS IT'S REFLECTED IN THE PRICE. We can sort it out quickly and at a fixed cost and you'll then end up with something nice, new, and very rentable.
