Maintenance Matters - Don't ever forget its importance

A high level of ongoing maintenance is essential in order to protect a landlord’s investment... and inexpensive minor repairs can often prevent expensive extensive restoration and renovations later.To prevent costly repair bills and deterioration of a rental property, ongoing maintenance is vital.

Spending a penny to save a pound is an old saying that definitely applies in this context. In fact, simple preventative maintenance can prevent greater costs down the line. A well maintained property can also be beneficial for your tenant too...

Ongoing maintenance helps keep the property in a good state of repair. It also creates a good impression of you as a landlord and provides a better environment for your tenant to live in. This, in turn, may well encourage them to stay longer.

Signs and signals
There are many early warning signs that maintenance may be necessary...

Landlords should look out for any water damage, cracked or discoloration of plug sockets, blocked guttering, overgrown gardens, broken fencing and, importantly, signs of damp and mould.

Damp and condensation should be nipped in the bud quickly. A regular review of gutters is a good idea as this can be a main cause of damp if not cleared out, especially if trees are in close proximity.   And, with all the rain we get here in Oxford, this is more important than ever...
                
A good example in this rather wet summer would be to clear out gutters rather than have water pouring down the front of buildings, or even worse, over the back of gutters and down inside the fabric of the property.

When it’s raining it is a good time to look at the outside of your property to spot leaking gutters, joints and down pipes. If you have a floored attic it could be some time before you notice a roof leaking into the living accommodation, so make sure you look in the attic itself. Tide-marks and wet patches appearing on ceilings or around windows are important signs too.

Wooden windows cannot be left for long without needing maintenance and generally a 5-year programme of pre-painting repairs and repainting can expand their life span.

It’s also a good idea to spend a few pounds resealing baths and showers, as well as checking shower screens aren’t leaking and removing bath panels to check underneath. A long-standing leak in an upstairs bathroom could cause major work downstairs if the ceiling was to come down.

Maintenance monitoring
Maintenance awareness is key but some landlords say that they find it difficult to monitor maintenance issues as they are not living on site themselves. The answer lies in a combination of tenant feedback and regular inspections...

Tenants have a duty to inform the landlord or agent of any obvious maintenance issues, but often they might not. Regular inspections on a room-by-room basis should also be conducted.

The best person to ask is the tenant who is living and using the property day to day. However, inspections are the real key as they allow you to look at each room yourself and also allow a little time for the tenant to think about any issues they are aware of while you are inspecting.

I know there to be 2 there are two types of maintenance: planned and responsive. Unfortunately, tenants often aren’t as diligent as you would be in checking the fabric of your property so regular inspections could lead to identifying preventative maintenance rather than waiting for a big problem to arise at a more inconvenient time.

Minimum disruption
But how can you ensure disruption is kept to a minimum for your tenant during maintenance?

I always work around the tenant and ask them when they would rather have the work done and usually, if the problem requires immediate attention most tenants are happy to accommodate this. For some maintenance, however, such as decorating and major refurbishment, I would wait for the property to become empty.

If we lived in a perfect world tenants wouldn’t encounter disruption due to maintenance issues but often speed is of the essence in order to prevent matters getting worse and taking even longer to deal with. If an emergency issue arises good communication with tenants is essential. However, planned or routine maintenance, such as external or internal paintwork, are better left for empty periods.

During your tenants’ annual holiday or during the working day are also good times to carry out maintenance.

Holidays are a great time to do major repairs as long as the tenant has appropriate notice and you have their permission to access the property. Also while the tenant is at work could be a good time if they are happy to let the contractor gain access.

A helping hand
One of the best ways to ensure your maintenance is kept up-to-date is to employ the services of a good property management agent.

Properties are like the Forth Bridge and ideally need tinkering with constantly... but inevitably, with a rental property, maintenance is much more intermittent. A good letting agent, can help by inspecting the property on an agreed frequency, plus instructing and managing repairs with their reliable local contractors.

A good agent will have a good basic knowledge of maintenance issues and can often instruct the tenant on what to do regarding the issue or attend ourselves to solve the problem – although this of course does not relate to more specialist areas, such as gas and electrical works.

As many agents offer an emergency out-of-hours service, having their helps also means that issues will be dealt with swiftly – whenever they may arise...

Most agents will deal with reported problems 24/7 and the landlord can be confident that maintenance will be organised within an acceptable timescale to eliminate unnecessary disruption to the tenant.

Maintenance signs to look out for...
Blocked drains
Leaking or blocked guttering
Leaking windows
Mould
Condensation
Water damage
Broken fencing
Signs of damp
Cracked electrical sockets
Leaking taps
Cracked chimney stacks
Dislodged or broken roof tiles
Erosion of shower and bath seals
Crumbling brick or stonework
Deteriorating pointing
Wood beetle infestations
Peeling paintwork

This all seems obvious right? In my experience, NO! Things going wrong often boil down to one of 2 reasons. One is not really understanding what to do or what to look out for in which case I trust this post does wonders for you! The other reason is that, like them or loathe them, you need a quality, organised letting agent in your life, so you can go about enjoying yours. I can help with this as well.

Best

Richard

Northway, Headington

Hello Oxford!

I hope you are all very well.

I spotted this one on Zoopla recently and thought I'd get it out there ASAP as it will go super quickly.

2 good sized bedrooms and 2 bathrooms and it looks to be in pretty good condition so out lay should hopefully be minimal. If I am being slightly picky the annual maintenance charge is slightly on the high side at £1500 but the general upkeep of this development is good and the cous de gras is that the yield on offer is 5.7% with the rent expected at around £1200 per calendar month.

All things considered its worth every penny. Thus to prove my theory I will have a little sportsman bet that it is sold within 10 days.

Watch this space folks. Or buy it!

Richard

My Oxford Buy To Let Checklist

Popularly hailed as an alternative to badly performing pension funds, buying to let was slowed down by a recession that squeezed mortgage deals and discouraged housing investment. But a reviving market is now generating more attractive mortgages, stimulating property prices and generally raising rent levels again.                         Advice for new Buy-To-Let investors can still be contradictory and confusing. Like most things if you’re Buying-To-Let, you need to do it right and when a considerable amount of your own money is involved it becomes absolutely critical. That’s why I have prepared a definitive checklist for anyone wanting to make a success of an investment in residential rental property. It offers a selection of do’s and don’ts. The checklist is only guidance – I prefer to sit down with a new potential investor in person, and offer more solid professional advice. Everyone’s circumstances and expectations are very different.                         BUY-TO - LET CHECKLIST Research your market – the area, the people you want to rent to, the available property, the benefits and the risks – and keep up with letting industry news (or my blog!) Choose your preferred tenant type. Students? Young professionals? Families? Find the right property that will appeal to them – houses, flats, older properties, newer builds? Students may not need anything particularly stylish but a young professional might. Then pick the right area where they want to live – parents may want to be close to schools and shops; wage earners need to commute to work; students have to be near to their college or university. Look outside your own area if necessary. If local crime statistics are available, take a look and bear them in mind. Study the condition of any property you are interested in – from roof, guttering and windows on the outside to condensation, leaks and electrical wiring on the inside. Be conscious of fire risks. Check whether extensions or conversions have met planning permission or building regulations. Don’t accept the first mortgage offer you get. Shop around. Gather information. Compare. Get the maths right – your investment might give a better return in some other way. How much is the right property going to cost? Is the rent you expect to get enough to cover the mortgage and give a profitable return? Does the potential capital growth add up to a good investment? Talk to an independent lettings agent before you buy. Most mistakes involve either wrong location or wrong price paid for a property. Don't be greedy – Buying-To-Let should be approached as a long-term investment, not a quick fix. Be prepared for costs that can upset your calculations – ongoing maintenance, small and major repairs, advertising, future rate rises, mortgage costs, agents fees, tax, falling house values, periods when you can’t find tenants and the property is empty. Get the right insurance cover – and that can include insuring yourself against tenants who fail to pay rent. If you’re going to manage the let yourself, be prepared to sacrifice your evenings and weekends! If this is likely to be more of a drain than you are prepared for, seek out a professional, fully accredited lettings agent who, for a fee, will look after your property, your interests and your tenants on your behalf. As well as being completely up to date on legal, legislative and property industry issues, a local agent such as Martin and Co, Oxford will have expert knowledge of the best rates from local electricians, plumbers and so on, which in itself, can be worth a weight in gold. I do not make any charge for pre-purchase advice, property visits or rental valuations. Before you do anything, get professional advice is my advice. As the legendary oil well fire-fighter, ‘Red’ Adair, once said: “If you think it’s expensive to hire a professional to do the job, wait till you hire an amateur.”                         Best regards Richard

Where should you be buying in Oxford?

Last week, I spoke with  two of my landlords who asked me if the number of bedrooms in a property had any relationship to the return they could get. I did some research and followed up their query – I was actually quite surprised with the results...
   
Currently in Oxford, the average rent for a one bed property is around £925 per month with an average value of £195,000. This means an approximate return/yield of 5.6% per year. The average rent for a two bed property is £1250 per month with the average value being £279,948, which gives a return/yield of 5.3% per year. When I looked at the three bed properties, the yield/return changed quite drastically. The average rent being asked for is £1447 per month but the average value is £345,000 which would give a potential return/yield of only 4.3% per year. Four bed properties achieve a poor return/yield of only 4.1% per year, as average rents are £1893 per month but the average value is £550,000.

There is merit in both housing types. The averages suggest that 1 and 2 bed investments make the best returns overall and I would go along with this, but there is also alot to be said of larger homes especially family homes, which can offer longer term stability and lower maintenance cost for the property. Two of the many factors to consider before buying for investment.
   

If you would like any advice on choosing properties, come and see me at my office on Woodin's Way, Paradise Street. Alternatively and for the most up to date property and investment advice please visit my property blog at:

http://theoxfordpropertyblog.blogspot.co.uk/



Best regards

Richard

A solid one investment in Headington, Oxford

The Beeches, Headington

Afternoon folks,

So I am at it again with my weekly round up of 'it's staring you in the face' bargains and I stumble across this one in The Beeches, Headington.

You can find this one on with Breckon and Breckon for £265,000. The condition is good and it has two double rooms which will widen your audience and you can expect a rent of approx £1100 per calendar month.

A yield of 4.9% (you will make an offer of course and that'll bump it up to 5%). These units apprecite very well too.

It's only just gone live peeps so move quickly on this one. I dont imagine it hanging around for long.

I should really be charging for this sort of thing but hey, I am just a helpful old sole!

Best regards

Richard

Monopoly In Oxford.....How Would You Play??

A couple of local landlords and I had a discussion about the property market in Oxford, when the subject of risk against returns arose.

All landlords are different in the way they play the property game. Some landlords prefer to accept a modest yield/return on their investment for an increased certainty of finding a quality tenant. Other landlords are interested in high returns, with a greater risk with regards to the quality of the tenant. Before you start playing, it is a good idea to have a game plan.

For a low risk investment, you could buy property in the areas of Oxford which are perceived as being more desirable, such as Banbury Road, Summertown and Woodstock Road, where you may be able to achieve an annual yield of around 4-6%. Following my article a few weeks ago, if you don’t mind a slightly higher risk of void periods or a more varied quality of tenant, you are likely to be rewarded with a higher annual yield of 6-7%. This level of risk can be typically taken with Victorian terraced houses or 3 storey houses around Oxford and in particular, Cowley. If you are after annual yields of 8% (it can be done!) and over, you could take more of a risk with houses of multiple occupancy or properties in the lower demand areas of town which may attract tenants of a lower quality. I have landlords that would happily share the pro's and cons on all these fronts.

If you would like any advice on choosing properties, come and see me at our office on Woodin's Way, Paradise Street or email me at richard.goodwin@martinco.com.

Best regards
Richard

Worth a second look in Greater Leys, Oxford

Columbine Gardens, Greater Leys, Oxford

Afternoon all,

 Eyes down for this week's investment hot property.

I found this one floating on Zoopla, listed today with Allen and Harris Estate Agents. Just gone on at £240,000 and would command a rent of £925-£950 easily. This would give you a yield of approx 4.8% which is solid. Not 5% I hear you say. Ok, so consider this......

Firstly it is a house, so no management fees. Secondly it is a house so noone above or below you as neighbours and thirdly, yes, you guessed it, it is a house which means your own garden! Joking aside these are big consideration for prospective tenants and it reduces costs for you landlords out there.

Still sat on that fence??? In August 2013 a two bedroom semi detached property sold for £198,000. A year later they are offered at £240,000. That is serious capital appreciation folks. Due to the shortage of housing stock I believe it WILL acheive its price.

Condition looks good both internally and externally.

I see no down side with this property.

Should You Be Buying In Southfield Park, Oxford??

A few weeks ago, I discussed the differences in the rent that could be achieved from properties in the villages around Oxford, however I now turn my attention to the city and in particular Southfield Park, Cowley. It caught my attention.

Typically a 1 bed apartment in this development will sell for £160,000 depending on condition and position. You can expect a rent of approx £795 per calendar month which would see you acheive a rental yield in excess of 5.5%. A fantastic return from your investment. Interestingly they do go even cheaper than this with one selling recently for £150,000. Even with consideration to its locality (ground floor) it was nicely presented and would still command a rent of £750 which would give you an even better yield at 6%.
                       
The good news doesn't stop there folks. The average price for a flat in this development is £178,000. This has achieved an increase in value of 6.9% from 2013, 8.65% from 2012, 14.5% from 2011 and 23% from 5 years ago. When you consider the economic climate in recent years these are impressive appreciations.
                       
If you are a landlord who is looking to buy property to let, you should of course consider both capital appreciation as well as yield. If you can achieve the right figures on both then all the better but it is not essential. Sometimes a good yield won't appreciate quickly in capital value and vice versa but so long as you have one of the two you are on the right track.

If you would like any advice when choosing properties, you may come and see me at our office on Woodin's Way, Paradise Street or email me at richard.goodwin@martinco.com


Best regards

Richard

RELIANCE WAY, COWLEY

A little investigative work needed on this first but assuming it ticks the boxes this one makes for a super little investment.

Currently on the market with Penny and Sinclair for £445,000 this could be a real winner if the conditions allow it.

It is worth noting that I come at this purely from and HMO angle folks (House in Multiple Occupancy) and for investment it only makes sense to buy it under this premise.

Get onto PS and ask if this already has an HMO licence or has ever had a licence. If the answer is yes, then buy it! If not then call me and I will talk you through how to obtain one (nice and easy, honest!)

Offering 4 double bedrooms and a single bedroom this property would command a rent of £2200+ per calendar month which will give you a 6% yield for your invesment. The property is in good order throughout which will keep your inital outlay nice and low. Wood flooring throughout the property ensures it is relatively low maintenance between tenancies as well.

Right, back to my world domination programme!

A Steal in Cowley!

Lizman Court, Silkdale Close, Oxford

Hello campers!

For all you aspiring landlords out there (and those of you who already are of course!) check this one out.

Currently on the market with Chancellors, Cowley this ticks most of the financial boxes and makes for a sound investment.

You can expect a rental income of £875 per calendar month on this one (or more if you let me let it). Set against the asking price this will give you a gross yield of over 5%. It requires little or no work inside which will cut down on potentially lost revenue while works are completed.

All this coupled with minimal voids (if you or your agent are good, there should be no void!) low ground rent charges and what I would regard as a double 2nd bedroom this is a win, win but move quickly. If I am right this wont hang about.

Best regards

Richard

Lime Walk or New High Street. Which Is Best?

Headington, Oxford is a very vibrant, popular town and invites its fair share of privately rented tenants. It was my interest in this location that urged me to carry out a bit of research and I was pleasantly surprised by my findings.

In the area, there are two particularly popular roads, Lime Walk and New High Street. On Lime Walk, 90% of the 149 households have moved since 1995. There is very little difference in New High Street. Of the 154 houses in this area there have been a total of 175 transactions in the same period. The average value of a property in Lime walk is £378,000, compared with New High Street at £318,000. Compare the two on growth from the turn of the millennium and both show an identical increase to 51% from 2000.
Similar so far then! Finally I looked at average rent from 2005. As follows:

Average rents

• 2005 - Lime Walk - £893pcm / New High Street - £896pcm
• 2007 - Lime Walk - £997pcm / New High Street - £994pcm
• 2009 - Lime Walk - £1099pcm / New High Street - £1051pcm
• 2011 - Lime Walk - £1297pcm / New High Street - £1152pcm
• 2013 - Lime Walk - £1348pcm / New High Street - £1398pcm

So I am calling this one a tie! There is a positive increase in market and rental value for both streets and both offer landlords a unique opportunity to invest. Currently there are 4 properties available in these streets for sale (and I can tell you all about one of them!) so now could be the time to make your move.

If you would like our advice when choosing a buy to let investment, please get in touch.


Best regards 
 
Richard

Villages to the east of Oxford. Are they good for Buy to Let investments?

A landlord asked me whether the rental market to the east of Oxford is a good place to invest in so we did a little research with a focus on the villages of Horspath and Wheatley.

There are some great properties available to rent for a tenant, from a lovely three bedroomed semi-detached bungalow at £1150 per month, to a beautiful one bedroom character house at £850 per month. Quite interestingly there are not many properties that are offered in the privately rented market in this area. It is heavily weighted to owner-occupier Vs privately rented with 79% of this area being homeowners and only 8% are privately rented.


Some people have the perception that village properties are difficult to let, as the tenants have to own a car and afford the fuel and maintenance that goes with it. Putting aside the large stone country properties with land and stables, which usually let well, as long as you have a property that is not above the £2500 per calendar month mark, there should be a decent demand for it. In addition, local schools can play a hugely significant role in the demand of an area. Wheatley and Horspath primary schools are very popular with parents and the demand to be in the catchment area can have a veryu positive impact on properties offered for rental in these areas.

If you would like some advice on what could make a good property investment in these locations, or villages in general, please get in touch.

Best regards

Richard

Another Oxford Investment Bargain!

Southfield Road, Cowley

I'm at it again peeps!

Now this one may not look like much from the outside and you'd probably be forgiven for saying so but hold that thought. External appearance can be decieving (after all look what the christians said about the colesium!)

This little beauty, currently on the market with Chancellors needs a little bit of love inside to modernise it somewhat but with this considered it will acheive a rent of £800 which to you is a yield of 6.4%. Wow!

Phone in your hand yet??


Best

Richard

Oxford Deal of The Day (Be Quick!)

Reliance Way, Cowley

Two bed first floor apartment just come on the market yesterday with Oxford Apartments at £280,000. An absolute shoe in for investment.

You can expect to acheive a rent of £1175 - £1195 (see for yourself online. It is a hugely popular development). Depending what you buy her for, a yield of 5.1% to 5.5% a year is very good.

Now where is my train spotter handbook?!!

A History Of Oxford's Property Values

I was speaking to a landlord of mine on Tuesday, when the subject of Oxford's property values came up. Not those of recent years alone, but those of over the decades.
I found that the average value of a property in Oxford was £805 in 1930, which then dropped to £703 in 1934. The average value jumped to £2390 in the late 1940s and in the 1950s the average value was £3290. 
   
In the late 1960s, the average value had risen dramatically to £6334. This was followed by a big jump in average values between 1978 and 1980, with an increase of 65% from £21,186 to £32,209.

The late 1980s saw a rise in average value to £74,865. At the millennium, average values had managed to rise to £138,616. Today, even following the crash of 2008, Oxford's average property value is £343,480.    

If you would like to come and discuss property in the area, you are welcome to visit our office on Woodins Way, Paradise Street.

And that's just the houses. Next week, Oxford's apartments/flats.........................

Best regards

Richard

Do Semi Detached Properties Make Good Investments?

I was talking to someone who lives in a detached house on Staunton Road, Headington. He wants to

purchase his first buy-to-let property and has noticed our previous articles, so was interested in getting to know the industry a little bit more.
   
Having lived in Headington for over 8 years he felt comfortable investing in the area as he knew it well, so we started to discuss the property market in this location.
    
Firstly we looked at yields on a couple of properties.  A 3 bedroom property in Franklin Road, Headington was purchased for £330,000 and went on to achieve a rent of £1550 per calendar month. This gave a 5.4%  gross yield return for this investment. In the sought-after area of Staunton Road, Headington, a 3 bed semi-detached house sold for £495,000 and achieved a rent of £1650, giving it a yield return of 4%. Slightly under the yield expectancy for investment.
   
Yield does of course only tell half the story. Property values in Oxford have risen on average by around 58% over the last 15 years. Going even further back to 1983, the average price for a semi-detached property in OX3 was £52,583 compared with today's average at £337,173. An 89% increase!
   
Yield is a big factor when purchasing for investment but capital growth is not to be forgotten. There is little doubt property still leads the way when looking to make a sound long-term investment.
I will leave you with this;  If you had decided to put the money into the stock market and based on investment from Q1 in 1999 your £52,583 investment would now be worth £58,062. Hmmmmm??!
   
If you would like to talk to us about your potential investment, please come into our offices on Woodin's Way. Paradise Street, Oxford - or give me a call.


Best regards


Richard

Iffley - 2 bed maisonette - 6.1% yield

Allen and Harris have just put this 2 bed maisonette on at £200,000

Situated in Iffley, between Rose Hill and Church Cowley Road, this will be popular with tenants as well as buyers.

A two double bedroom duplex apartment in this popular and quiet cul de sac location. With its own front door and set over two floors the property offers open plan living/dining room, fitted kitchen, two bedrooms and family bathroom.

This will rent every day at £950 to £995 pcm depending on condition, so depending what you can buy it at, a yield of 6.1% is very achievable 

I have a feeling this wont be on the market for long. Rightmove link below the picture

http://www.rightmove.co.uk/property-for-sale/property-44436817.html

It's A Bargain Hunt In Oxford's Property Market

A landlord came to talk about our claims of Oxford's property market being so buoyant at the moment, when we arrived at the subject of bargains available in our city.

I did a little research and found that a rather lucky person had purchased a two bedroomed converted flat, in Brasenose Driftway this Spring, for only £217,000. This property had previously sold for £228,000 in 2007. This represents a great bargain with a gross yield on the rental return of 5.2%.

In a similar area, another 2 bedroom property sold for £250,000 this year, which is the same price it was at the market peak in 2007. Again, a fantastic buy that went on to achieve a 5% rental yield.

If you would like to come and discuss properties in the area, you are welcome to visit our office on Woodin's Way, Paradise Street or give me a call on 01865 812110 

Seacourt Road, Botley - 3 bed semi that needs lots of TLC

David Tompkins have this semi detached three bedroom house in need of further modernisation and benefiting from gas fired central heating and part double glazing.

Its on the market at £269,950. Needs some work (look at the pics) and the garden is a bit of a jungle

Accommodation currently comprises of entrance hall, sitting room/diner, ground floor bathroom, kitchen, three first floor bedrooms. Own driveway. Mature good sized rear garden.

There is something about this property I like. Done up well, it will sell well and rent well. Rightmove Link below ...

http://www.rightmove.co.uk/property-for-sale/property-46408913.html

Copse Lane, Marston, Oxford - decent BTL deal?

Whilst this wouldn't win prizes for prettiness, these purpose built 2 bed apartments are little crackers. On the market with Scott Fraser at £215,000, depending on condition, these can rent for £950 per month, giving a very reasonable yield of 5.4% per year.

The service charges are quite often next to nothing (do check though).

I have a good feeling about this one. Rightmove Link below ...

http://www.rightmove.co.uk/property-for-sale/property-30389361.html

Upper Fisher apartment .. 33% capital growth since 2007 and 4.5% yield

A beautifully presented and appointed one bedroom ground floor flat in this development built in 2001 by Messrs Kingerlee. The development is in a most central location and is therefore within walking distance of an excellent range of local amenities

I have a real soft spot for development. they sell well and let well

They rent for £1100 to £1150 per month, so with an asking price of £300,000, a reasonable yield of 4.5% is achievable.

The thing with this apartment block is they do go up in value rather well. At the height of the boom in 2007, these were selling for £225,000.

There arent many properties that have increased in value by 30% since the boom of 2007 in Oxford. I know you might say it hasnt sold Richard. Trust me, I think this will quite quickly. On the market with Oliver James. Rightmove Link below ...

http://www.rightmove.co.uk/property-for-sale/property-30550542.html

A Few Facts About The Property Market In Kidlington

A landlord who has invested in rental properties throughout Oxford asked me about the property market in her home town of Kidlington.

What we found out about the town was quite interesting. The average value of a property in Kidlington is £329,400, which is just £20k below the average of its neighbouring village of Yarnton. The most expensive street in Kidlington is Mill End, where an average property is worth in excess of £984k. Only 961 properties out of the 6258 properties have been sold since 2011 national census.

Interestingly of the 6258 properties in Kidlington only 506 were privately rented representing 10% of the Kidlington market. This figure sits below the Cherwell District average of 16%.

If you would like to come and discuss property in the area, you are welcome to visit our office on Woodins Way, Paradise Street, Oxford 

Cowley 3 bed semi - potential 5.5% yield

Connells have this 3 bed semi on the market at £275,000. It says its been in the same ownership for 50 years. If you can see through the carpets and trinkets, you will see all the expensive things have been attended to .. Gas CH's, laminate floors and DG

De-1970's it and you have a fabulous property which will let for £950 to £995 per month.

Get an HMO licence and let it sharers and you will get £1200 per month which would give you a 5.5% yield.

Rightmove Link below ...

http://www.rightmove.co.uk/property-for-sale/property-46201967.html?premiumA=true

Windmill Road, Oxford .. potential yield of 6.8% pa

With looks only a mother could love, Lee and Lindars have just put this one bed apartment on the market at £140,000.

The agents say it has been let out  £690 a month in this condition.

Spend some pennies on it, laminate floor, redec, new kitchen, carpets (£7k tops if you are doing it yourself or £10k with a builder), and all of a sudden, you will have a property that will let for £825 per month , so depending what you buy it for, a yield of 6.8% per year

There isnt much going for it .. just look at the pictures ... but if you can see through that, you might be able to pick up a bargain!  Link below ...

http://www.zoopla.co.uk/for-sale/details/32998982

Is Botley Oxford's Sleeping Giant?

A landlord of mine called me on Wednesday last week as he had recently missed out on a 2 bedroom property in Hazel Road, Botley (opposite Botley Arcade) which sold in a matter of days. He had also been looking at a 3 bed in Cumnor, and that went within 2 weeks. He wondered if there was anything special about the area so I decided to do a little research

.

I have highlighted Hazel Road, Finmore Road and Cumnor as locations for my Botley review, all of which are 1970's build houses with 1, 2 or 3 bedrooms.

The 2 bedroom property in Hazel Road was sold at £250,000. If it was offered to decent standard it would attract a rent of £1025pcm which offers a yield return of 5%. Finmore Road's 1 bedroom converted flat sold at £149,500. This had a complete internal redecoration and commanded a rent of £795pcm which offers a fantastic annual yield of 6.3%. And finally a 3 bedroom property in Appleton Road, Cumnor which was purchased in January. This property offered 3 double bedrooms, garage and summer house and provided the perfect property for families looking to settle. The purchase price was £350,000 and it achieved a rent of £1600pcm giving it an annual yield of 5.4%.

Rather than go on and on, I will leave you this; All 3 locations showed a 20+% capital growth rise in the last 5 years