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Category: investment deals

Why Do I Need an Inventory?


Today I just wanted to talk about one of the most frequently asked questions by Landlords, which is all about inventories and why you NEED one!
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BIGGEST CHALLENGES FACING THE HOUSING MARKET AT PRESENT

  • With just days to go before the UK was expected to leave the EU, we seem no closer to a solution than when Article 50 was triggered almost two years ago. It is little wonder therefore, that uncertainty is expected to continue to impact the housing market
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ONE IN TWELVE LANDLORDS UNAWARE OF LEGISLATIVE CHANGES

  • One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January.
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Didsbury Village Buy-to-Let opportunity with a near 6% Yield!

Currently for sale with Julian Wadden is this one bedroom apartment in the heart of Didsbury. Situated on Dene road, the apartment is a stones throw away from the village and with ample residents parking, finding a tenant should be a breeze…

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Fabulous Investment Opportunity in West Didsbury with a 5.3% yield!

Hello Readers,

I hope you are well and are enjoying the crisp cold weather this new year! Having had a busy January taking over the Lettings Department in our Julian Wadden Didsbury Branch but I really wanted to take this opportunity to let you know about this fabulous opportunity to purchase a two bedroom apartment in West Didsbury on Georgia Avenue.

The property is on the market with us here at Julian Wadden Estate Agents for £190,000 and it is an immaculately presented second floor apartment with a very modern kitchen and bathroom. The property has previously been rented with us here for £850pcm, so we are confident that it would be able to achieve this again. This would therfore give you a yield of 5.3% and you would not need to do any works on this property which means that it would be a hassle free purchase.

We will be holding an open house on the 2nd February 2019 so if you would like to book in for this or for more information please do not hesitate to contact me on 0161 249 5160.

HAPPY INVESTING, Gemma Lowe, Lettings Manager Didsbury

Link to property Online: https://www.rightmove.co.uk/property-for-sale/property-59696118.html

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Tenant’s Deposits

The government may be embroiled in Brexit woes right now, but it has managed to find the time to do a u-turn on its decision to cap tenant deposits at six weeks. Lord Kennedy of Southwark and Lord Bourne of Aberystwyth have tabled an amendment to the Tenant Fees Bill that would see deposits capped at five weeks instead of six weeks. The average tenancy deposit amount is 4.9 weeks however most landlords and letting agents were hoping for deposits equivalent to 6 weeks rent in the event that tenants leave in rent arrears and the property requires cleaning.

As part of the legislation landlords and letting agents may be required to return part of a deposit that is above 5 weeks rent however we are yet to receive confirmation on this element. If this does happen and you benefit from our Management service this is something that we would manage for you, however if you manage the property yourself you may need to take action. As always we will keep you updated.

Other amendments to the Bill include protecting tenants from fees by limiting the type of default fees that can be charged by landlords and property agents.

This change means that during the tenancy landlords and agents will only be able to charge fees to replace lost keys or for late rent. Landlords will still be able to claim back costs for damage through the tenancy deposit at the end of the tenancy.

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IS THE UK BECOMING A HAPPIER PLACE TO LIVE?

  • There are many factors that influence our quality of life and well-being. In 2010, the ONS started the ‘Measuring National Well-being’ (MNW) programme in order to have a standardised monitor of well-being. The latest bulletin was published on 28th November 2018.
  • At a national level, previous research has shown that how people view their health is the most important factor, followed by employment status and relationship status. At a local level, a wide range of local conditions can affect people’s well-being, with housing affordability a key issue. In particular where local house prices are too high relative to incomes, thereby preventing prospective buyers from getting on to the housing ladder and they subsequently remain in rented accommodation.
  • Comparing June 2017 with June 2018 there were no significant changes to personal well-being measures (life satisfaction, feeling that things done in life are worthwhile, happiness and anxiety) in the UK, or indeed across any of its countries. Also, fewer people reported low happiness ratings and more people reported very low anxiety ratings.
  • The positive changes in well-being across the UK may be influenced by the improvement in economic indicators during the 12 months, such as the unemployment rate which was at its lowest level between April and June 2018 since the period from December 1974 to February 1975, at 4%. Also, average weekly earnings for employees in Great Britain increased by 2.7%, in nominal terms, compared with a year earlier. However, in June 2018, the rate of annual house price growth was also at its lowest level since August 2013, at 3%.
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Fantastic renovation project in Levenshulme offering great reward for little effort!

Marketed by Edward Mellor, Levenshulme is this two bedroom mid terrace property with a guide price of £110,000, whilst in need of some modernisation the property offers excellent potential for investors.

Conveniently located close to Levenshulme’s train station which provides direct access into the city centre in under 10 minutes, the property would make for an ideal buy to let and could command a rental of circa £650 once modernised, this would give yield of circa 7% in an area which is also experiencing encouraging capital growth year on year.

Levenshulme’s popularity amongst first time homeowners and young professionals has grown significantly in recent times and with its close proximity to the city centre, thriving high street, weekly artisan markets and good local schooling its easy to see why!

If you would like to talk further about buy to let opportunities in the South Manchester area, feel free to give us a call on 0161 249 5160.

For more info click here

 

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Great Buy to Let Investment in the Heart of West Didsbury

Hello Readers,

We just wanted to showcase one of the best buy to let opportunities available in Didsbury at the moment. This one bedroom, top floor apartment is in great condition and the communal areas have just been refurbished. It is a stones throw from Burton Road, the main high street in West Didsbury with a plethora of trendy bars, restaurants and independent shops. It can be purchased with a tenant in situ or with vacant possession and has the benefit of off road parking, making it even more appealing to tenants.

With a potential rental yield of 6.2% this is a rare opportunity to purchase an investment property in West Didsbury with an attractive return based on a monthly rental of £650.00. 

This property is currently being marketed by Julian Wadden and more information can be found here:

Click here to see more Investment Deals in Didsbury and to join our Newsletter.

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