Recovering Possession of a Walsall Property.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Recovering Possession of a Walsall Property
Recovering Possession of a Walsall Property

I am getting more and more enquiries from my blog reading friends on some technical aspects of property management.  In the past I’ve avoided writing about these types of questions on the Blog by answering them directly.  I find writing about the Walsall property market more interesting but people power has to prevail and I feel I must provide the readership what they seek.

There are various reasons why you may need to recover possession of your rental property.  Below is an enquiry I received recently and my answer.  Hope you find it informative and as always I welcome your feedback.  Do let me know if you have any burning questions you would like me to answer in a similar vein and I’ll do my best to accommodate.

Question:

‘Dear Salek,

I rented my property out when I moved into my husband’s house about 6 years ago and we are now going through a divorce.  I need my property back as I need to move in as soon as possible, so I know I will need to evict the current tenants. How do I correctly serve a notice?

Thank you,

Sue.

Continue reading →

Today’s Buy To Let Deal is Definitely a Must See and Here’s Why!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , , , , ,

Right ladies and gents, we are back in Dalkeith street, Birchills, Walsall again. Why, you ask? Well, I’m going to tell you. Firstly, and you may find this hard to believe, but Dalkeith street is blowing up right now, the level of interest from renters is insane. You may remember I mentioned in my last BTL deal post that I helped one of my clients rent out a two bed terraced just like this one recently! The second reason is as follows…I’ve repeated myself over and over again about renters’ expectations and what landlords actually provide. If you are serious about your property empire and want to maximise your portfolio as much as possible, what I am about to show you is the standard you should set yourself on every property you rent out. This is a bog standard two bed terraced house in the heart of Walsall, nothing at all special. However, by just investing a relatively small amount of money to showcase your let, this is what you can and should be achieving. I’m going to let the photos speak for themselves.

Continue reading →

Today’s BTL Deal Is A Bargain Yielding 6.91%, 2 Bed Terraced House, Dalkeith Street, Walsall, WS2.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , ,

Earlier this week I was in the enviable position of letting a property on this very street for one of my clients. This is also a two bedroom terraced house on Dalkeith Street, Birchills, Walsall, WS2. So, naturally this property grabbed my eye.

It ticks all the boxes for an investment property. Neutrally decorated throughout, which looks new by the way. Gas central heating, modern fitted kitchen and shower etc . The listing lacks photos of the rear garden, so that would need to be checked out via a viewing. You don’t have to do this, but I would advise providing some flooring throughout with some nice hard wearing carpet, just to give the property a nice clean and fresh appeal.

Schools and healthcare facilities are in abundance with transport services, bus routes and major road networks nearby. Walsall town centre is only a short walk away, however there are some local amenities.

Continue reading →

Rents in Walsall Set to Rise to £714 pm in Next 5 Years

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , ,
Rents in Walsall Set to Rise to £714 pm in Next 5 Years
Rents in Walsall Set to Rise to £714 pm in Next 5 Years

A good 18 months has passed since annual rental price inflation in Walsall peaked at 10.7% (June 2016).  Since then we have seen increasingly more humble rent increases to 7.3% in November 2017.  In fact, in certain parts of the Walsall rental market over the autumn, the rental market saw some slight falls in rents.  So, could this be the earliest indication that the trend of high rent increases seen over the last few years, may now be starting to buck that trend?

Well, possibly in the short term, but in the coming few years, it is my opinion Walsall rents will regain their upward trend and continue to increase as demand for Walsall rental property will outstrip supply, and this is why…

The way I see it is this…the counterbalance to that improved rental growth would be to meaningfully increase rental stock (i.e. the number of rental properties in Walsall).  However, because of the Government’s new taxes on landlords being introduced between 2017 and 2021, that means buy-to-let has (and will) be less attractive in the short term for certain types of landlords resulting in fewer new properties being purchased to rent out.

Continue reading →

Walsall Property Market Predictions 2018!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Walsall Property Market Predictions 2018!
Walsall Property Market Predictions 2018!

A belated Happy New Year to all my Blog reading friends!!  Trust the holiday season has treated you all well.  Now that you are rested, relaxed and rejuvenated I’m sure you have gotten into the full swing of things with vigour and enthusiasm.  We’re already passed the middle of January 2018 and finally I feel like the dust has settled allowing me the opportunity to catch my breath to reflect on the past year.

Wasn’t 2017 eventful?!  Last year was the greenest year in the UK.  We broke all previous records by June 2017 when our use of wind, nuclear and solar power created more UK power than gas and coal combined.  From England women winning the World Cup in July to an incredible breakthrough by scientists at University College London who have developed a drug that they hope could stop Huntington’s disease.  To top the end of the year there was the Royal love story with the announcement of romance, a wedding between Prince Harry and Megan Markle and something close to the hearts of every buy to let landlord and homeowner in Walsall… the changes in the local property market.

So, let’s look at the headlines for the Walsall property market in 2017…

Continue reading →

WALSALL LANDLORDS – THREE THINGS I’ll be doing over Christmas 2017!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
WALSALL LANDLORDS - THREE THINGS I’LL BE DOING OVER CHRISTMAS
WALSALL LANDLORDS – THREE THINGS I’LL BE DOING OVER CHRISTMAS 2017

My Blog reading friends and existing clients will know that at some point over the Christmas break I get fed up of all the eating, drinking and partying.  “Bah! Humbug!” I hear you say…but in reality I think it’s simply that as a busy business owner, my mind and body can’t take the change in pace from mad and hectic to practically a vegetative like state.

So it’s usually around this time of the year, when I hit that point and I need to re-engage my brain, this is what I plan to do…

Continue reading →

Today’s Buy To Let Deal Is A Winner, Winner Chicken Dinner!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , , ,

Leading on from my last BTL deal, I came across another similar property on Tamebridge on Harebell Close this time. Namely, a two bedroom terraced house, WS5. The full details here.

The marketed value is for offers around £124950k. Now, if the stats on the listing are correct, the last sale of the property on 22/08/2017 was £90k. Therefore, this means in just under 4 months, the property has increased in value by almost £35k! Now that’s some mad capital growth in such a short space of time!

Again, I don’t see this property selling at the asking price. Seems to me the seller bought it at a bargain price and is now trying to capitalise quickly, but as to whether it is worth the asking price, I don’t think it is. The spec is absolutely what you would expect from a property on Tamebridge and there is nothing out of the ordinary nor unique that would set it apart from other similar properties on the estate

Continue reading →

Interest Rate Increase Kills the Walsall Property Market!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
Interest Rate Increase Kills the Walsall Property Market

We all do something to try and keep fit don’t we?  My choice of the fitness elixir is to take from the cup by combining a bit of fun and comradery which translates to Badminton (alas too many injuries to carry on playing football).  So, this weekend I had one of my Badminton comrades ranting and raving about the latest increase by the Bank of England which he felt will be the death of the Walsall Property Market as we know it today!

Before we all rush off to take drastic evasive manoeuvres we have to look at the entire picture to put matters into perspective.  The recent interest rise is the first increase in 10 years; they have just been raised from 0.25 percent to 0.5 per cent.  The uplift comes as inflation hits a 51-month high of 2.9 per cent whilst the national unemployment rate is at an all-time low of 4.3 per cent.

The average Walsall mortgage is £98,631…

Continue reading →

Today’s Buy To Let Deal Yields 5.04%, Two Bed Terraced, Poppy Drive, Walsall, WS5.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , , , ,

A modern two bedroom terraced house, Poppy Drive, Walsall, WS5 on the very popular Tamebridge estate. The full property details can be found here.

The marketed value is for offers over £125k. Personally, I don’t see this property selling at that price. I have written previous articles on similar properties that the asking price was around £110k, here are just three to have a look at:

https://wp.me/p6vDwd-vt

https://wp.me/p6vDwd-rC

https://wp.me/p6vDwd-r6

Some properties have sold at around the asking price here, but realistically the selling price should be somewhere between £110k – £120k depending on the quality of the spec and that’s where I want to focus on next.

Continue reading →

Walsall Property Sales Drop by 51.83%!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Walsall Property Sales Drop by 51.83%!
Walsall Property Sales Drop by 51.83%!

I was having a lazy Sunday morning, reading through the newspapers at my favourite coffee shop in Walsall.  I find the most interesting bits are their commentaries on the British Housing Market.  Some talk about property prices, whilst others discuss the younger generation grappling to get a foot-hold on the property ladder with difficulties of saving up for the deposit.

Others feature articles about the severe lack of new homes being built (which is especially true in Walsall!).  A group of people that don’t often get any column inches however are those existing Walsall homeowners who can’t move!

You would think that with ultra-low interest rates at 0.50% (albeit recently increased in the budget from 0.25%) the number of people moving would be booming – wouldn’t you?  However, this has not been the case.  Less people are moving because of the following reasons:

Continue reading →