Monday 8 February 2016

Even better value - Bletchley 3 bed reduced to £220k, potential 5.4% yield

We recently showed this property in our blog, and I have recently visited it with an investor. Today I can tell you that it is reduced by £10k to £220k and is offered WITH NO CHAIN but tenants in situ, more about them in a moment......
 
 
 
 
 
 
This 3 bed end terraced home has been usefully extended, and has a modern bathroom and kitchen, good size bedrooms and a huge rear garden, all the things a young family will need. There are a number of great schools locally as well as local shops and facilities, and with a rental value on todays market of around £995 this yields a 5.4% financial return, and will always appeal to families in the future so will continue to rent well throughout it's life.
 
However, we now know that the tenants that have lived there for a number of years (and they keep the place spotless and tidy and would like to stay on) are about to have another baby, and probably cannot afford the sudden increase in rent from the lowly £800 PCM the current owner is charging them. As such, you may wish to accept an increase mid-way between both values, or you may feel the need to issue notice and re-market the property at the correct current rate, or some other combination in agreement with the tenants. It just needs a little paint and plaster repair and some very minor bits and pieces here and there, the reason for such a low rent currently is that the owner has lost interest and just wants to sell this, and is no longer prepared to spend time or money on it having owned it for many years.

 
 
 



If you struggling to find anything decent on the property market and need a little help finding potential bargains like the one above, speak to us about how we can keep you appraised of the latest opportunities before the rest of the pack. For more information about other potential investment properties that we could introduce you to (such as ready tenanted properties for sale by our existing landlords), or to ask about our thoughts on your own investment choices, call us now on 01908 562582 or send us an email.
 
 



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