2 Bed House, Tenanted, Cheap

An interesting one has popped up here – a property we’ve been managing for some time and is currently tenanted at £540PCM – a 2 bed freehold house in Thorplands Brook. It’s in poor order as the current owner has failed to maintain it – needs about £8k spending on it which will include double glazing throughout, a kitchen and a bathroom (all sortable by us - no need to get involved if you don't want). With the work done, and let to a different tenant it would achieve £600PCM.
He’s been keen to sell for a while but has been after an inflated price – this has now changed and he’s happy to take £115k for it (perfectly realistic) which values the whole lot at £123k. Now get on rightmove and tell me where you can get a 2 bed freehold house IN GOOD ORDER for £123k? I’ll answer my own question – in this market you can’t. As such it’s a good bet.

I know this property quite well so am happy to discuss as required. richard.baker@belvoir.co.uk

The property can be seen here http://www.zoopla.co.uk/for-sale/details/39733426#C8q06ZFdgoPSfXdj.97

A RARE GIFT : £60,000 for a 9% return - IMMEDIATELY SOLD

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Advertised this morning, and very probably gone already at that price – it’s a 1 bed ex local authority flat in Lings at £60,000. It would rent for MINIMUM £450 which is a 9% return. Improve it in places – although it isn’t bad as it is – and you’ll get a few pounds more and importantly a better tenant. It’s almost TOO cheap in the current market which makes me wonder if the ad is genuine.

The property is here http://www.rightmove.co.uk/property-for-sale/property-59452550.html and advertised with another agent. The agent won’t want to hear that you’ve learned of the property from me(!) At the price it’s one to buy without viewing – if you don’t, someone else will.

Any queries please email me richard.baker@belvoir.co.uk

PROBLEMS WITH TENANTS? Book an appointment with us to fix them.

We hear from a fair few landlords every year who have managed their own tenancy but something has gone wrong. Usually the tenant isn’t paying rent for one reason or another, or sometimes the tenant is just being generally disagreeable. It’s at this point the landlord realises he doesn’t know much about ending a tenancy and needs some help getting out of the situation he’s in. A court process is costly and advice on the court process from a solicitor is costlier still!
The solution at that point is to talk to someone like ourselves. Whilst we may not be solicitors, our knowledge of the law of Landlord and Tenant is better than most solicitors because we deal with issues like this every day. If you are in a pickle we offer a free introductory chat where we’ll review what’s happened so far and advise what steps you need to take to move this forward. Sometimes things can be rectified – other times it’s simply a question of understanding the legal process you need to go through to get your property back.
We operate landlord ‘surgeries’ like this by appointment throughout the year and have helped quite a few people who had got themselves into a difficult situation with their tenancy. If you’re in need of help with a tenancy matter, or you know someone that is, email me richard.baker@belvoir.co.uk for an initial chat. You'll get straightforward and honest advice and if you're partly to blame by cutting corners to save money you'll be politely told that too!