2 Bed Flat in Town centre offers Good Yield

Here's a good property that's just come onto the market. It is marketed as an ideal investment and I would say the selling agent is right.



Below is the link to right move:

http://tinyurl.com/dypvq43

York Rd is prime "renting" location in Guildford as it is next to the London Rd station and only a few minutes walk to the main Guildford station and the Town centre. Now, I don't normally recommend 2 bed flats as they are slightly harder to let than the 1 beds or 2-3 bed houses with more space and garden etc.
However, this has come to market at a good price of £185k and should comfortably achieve £1000pcm, so around 6.5% Yield. We have just let a 1 bed on the road for £800 which is probably not presented as well as this 2 bed seems to be.

Due Diligence on this one would be:

• Leasehold - what is the length left and the ground rent / maintenance charges and who manages the block. Sometime these flats in York Rd have poorly maintained communal areas which will deter the higher quality tenants.
• Get the electrics and boiler checked out!
• Meet the neighbours - are they renting or do they own their flats.
• There is no EPC attached to the details at the moment, again it might not be double glazed.
• Consider the fact there is only a shower - this will affect re-sale value and prevent families with kids renting it. So be prepared for professional sharers - possible even a couple witha friend - then it becomes an HMO. Your tenants are unlikely to stay above the average 19months of a tenancy here, but voids are unlikely due to location.

If you want any other advice please call me on 01483 537200, we continue to offer free Buy to Let advice for potential investors in the Guildford area. We are not Estate Agents, we only do lettings so we can give impartial honest advice.

Letting Agent in Guildford - update

Thought I would get fingers to keyboard for the first time this year and give an overview of the lettings market at the moment in Guildford.
Please visit our website at http://www.belvoirlettings.com/guildford for more details about the services we offer.
The demand for properties has seen a sharp rise as soon as the Christmas holidays ended. Tenant demand is as high as ever and there continues to be a shortage of properties to meet this demand. We have 15 viewings booked for Saturday morning, 6 all on the one property! As the sales market struggles and publishes some of the lowest ever figures for December the time has come for many people selling their home to look at facilitating a move via a let-to-buy mortgage. Many of the properties to rent in Guildford are through "accidental landlords". If you are becoming a Guildford landlord for the first time there are many potential legal pitfalls and it is essential you use a good letting agency to help you through this process. Ensure they are NALS registered and members of The Property Ombudsman. Most letting agents will give a free property appraisal, use this as a chance to see what levels of service you think they can offer as well as which types of tenants they normally attract.
Belvoir lettings in Guildford will offer a personal service with regular communication, and keep you informed from the marketing process and interest attracted right through to the end of the tenancy with their fully managed service.
If you are thinking of going it alone be warned of the need for legal certificates such as EPCs, electrical and gas safety plus ensure your insurance is valid when letting your property and you have the mortgage lenders permission.
For some free advise please contact your local NALS registered Letting Agent.We can help with Insurance, Mortgages, Wealth management, finding a rental property and of course finding high quality tenants for your Guildford property

Regards

Belvoir Lettings Agency Guildford

Foxtons debt to be re-financed?

http://www.negotiator-magazine.co.uk/article/foxtons-financing-under-discussion-1459