Walsall Property Blog

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Walsall Property – Jargon Busting Terminology (PART 1)

31/10/201707/11/2017 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market buy-to-let in walsall, House Investment Walsall, landlords, Property Jargon, Walsall Letting Agents, Walsall News, walsall property market, Walsall Property News

Something different this week for my blog reading friends…in recent months I have been asked on several occasions to explain certain terminology that has cropped up during Walsall property transactions or just in conversation. For ease of reference I have gone through the list in alphabetical order; the overwhelming array of acronyms and specialist terminology in simple layperson terms. To save the article from being endless pages I have split this into two parts with part 2 releasing soon – so watch this space! If there is anything I may have missed please feel free to comment or get in touch.

The meaning behind the lingo…

A

Abandonment – Abandonment is when a tenant leaves the property (usually without notifying the landlord or agent) before the tenancy has ended. Very often this occurs when the tenant owes rent and the tenant may or may not leave possessions in the property. Although the tenant is in the wrong for many reasons, they still have a legal tenancy and can return and demand to take up residence at any time, despite not paying rent. Taking over an abandoned property is fraught with difficulties for the landlord and specialist advice should be sought.

Advance – A mortgage loan – an additional loan is referred to as a further advance.

Adverse Credit – Used to apply to a borrower or application that has past problems with bad credit, for instance frequent late payment, breached arrangement, bankruptcy or County Court Judgement.

If you would like an instant online appraisal as to the rental value of your property, please click here.

Today’s Buy To Let Deal Yields 5.41% 2 Bedroom Semi Detached House, Bank Street, Cannock, WS12.

28/10/201728/02/2018 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals Best Letting Agency Walsall, buy-to-let in walsall, Find Affordable Rental Properties in Walsall, How to Rent My Property Walsall, invest in Walsall, landlords, Letting Agents Walsall, Property Investment Walsall, Property Management Walsall, Top Letting Agency Walsall, Walsall Property News

A two bedroom semi detached house, Bank Street, Cannock, WS12. The asking price is for £127500 and is marketed by Purple Bricks (01926 267659).

An excellent spec throughout with modern kitchen, bathroom, gas central heating and double glazing, however the rear garden will need some attention. Parking facilities are not listed in the description.

The location is ideal for commuting to Cannock town centre. Many other amenities and services are all within a short distance away.

I appraise the pcm at a minimum of £575.00 and if the property sells at the current asking price, this makes a yield of 5.41%.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook: https://www.facebook.com/AshmoreLettings

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Is Moving Home in Walsall – ‘Mission Impossible’?

24/10/201731/10/2017 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market buy-to-let in walsall, House Prices in Walsall, Letting Agents Walsall, Top Letting Agency Walsall, Walsall Homes, Walsall News, Walsall Property Expert, Walsall Property News, Walsall Property Values

Moving to a larger home is something Walsall people with growing young families aspire to. Many people in two bedroom homes move to a three-bedroom home and some even make the jump to a four-bed home. Bigger homes, especially three-bed Walsall homes are much in demand and it can be a costly move. However, is jumping to a 4 Bed House a step too far?

If you live in Walsall in a two-bedroom property and wish to move to a four-bedroom house in Walsall, you would need to spend on average, an additional £153,066 (or £604.61 pcm in mortgage payments (based on the UK Bank average standard variable rate)). However, going straight to a four bed from a two-bed home is quite rare as most people jump from a two to three-bedroom home, then later in life, from a three to four-bedroom home.

Today’s Buy To Let Deal Of The Day, 3 Bed Town House, Walsall, WS2. With Yields Of 5.77%.

24/10/201728/02/2018 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals buy to let deal of the day, buying property in Walsall, buytolet, property management, todays buy to let deal, Walsall

A three bedroom end town house, Norfolk New Road, Reedswood, Walsall, WS2. It has an excellent spec with all the mod cons one would come to expect from a newbuild property; Modern kitchen and bathroom with double glazing and gas central heating.

It is ideally positioned in the Reedswood area of Walsall, close to the Reedswood Way Retail park. There are a large selection of schools locally and many are within a mile distance including the Reedswood E-Act Academy and Castle Business and Enterprise College. Healthcare amenities eg doctors, dentists etc are also nearby. Transport services are very good with bus routes and major road networks adjacent lending easy access to Walsall, Bloxwich and Willenhall. Junction 10 of the M6 is literally about a mile down the road.

The current asking price are for offers over £130k and based on my appraised rent pcm of £625.00 will return a yield of 5.77%. Now let’s talk about the selling price. In my opinion it is overpriced as other similar proprieties on the same road, not just the estate, have been selling for 120k.

Currently on offer with Prestige Estates (01902 596006) the full property details are here.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.
For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.
Don’t forget to visit the links below to view back dated deals and Walsall Property News
Blog: http://www.walsallpropertyblog.com
Facebook:https://www.facebook.com/AshmoreLettings
Twitter: https://twitter.com/AshmoreLettings

Thank you for your response. ✨

What if…the UK Population lived on One Street??!!

17/10/201724/10/2017 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market buying property in Walsall, Find Affordable Rental Properties in Walsall, House Investment Walsall, House Prices in Walsall, Property Management Walsall, Top Letting Agency Walsall, Walsall Property Expert, walsall property market

In my line of work I meet many property entrepreneurs…from budding enthusiasts…to seasoned developers. Meetings whether face-to-face, by phone, Skpe or email lead on to many interesting conversations some of which, I write about. I don’t profess to have all the answers but I like reading and learning about property.

This sometimes takes me away from our local Walsall property market, to conversations about our region and the national geographic area as a whole. My expertise is in the local area where I ‘ply’ my trade to ‘eek’ out a living. Anyway, I thought I would share something different with you this week, my blog reading friends, which I found really interesting and entertaining at the same time…hope you do too!

If the population of the UK were condensed into just a single street, more than a third of us would live in a semi-detached house worth £207,000.

Today’s Buy To Let Deal, 3 Bedroom Semi Detached House, Booth Street, Walsall, WS3. With Yields Of 7.52%.

17/10/201728/02/2018 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals Best Letting Agency Walsall, buy to let, buy-to-let in walsall, buying property in Walsall, Find Affordable Rental Properties in Walsall, House Investment Walsall, How to Rent My Property Walsall, Letting Agents Walsall, Property Lettings Walsall, today's buy to let, Walsall Property Values

A very nice 3 bed semi detached house in Blakenall Heath, Walsall. The area has changed for the better over the last few years due to the housing regeneration that has happened. Currently marketed by Webbs estate agent (01922 312727). It’s a decent spec, but will need some attention in certain areas of the decor. It has gas central heating and double glazing.

It is certainly a family home with a spacious rear garden with awning over a patio area and being low maintenance. Parking is off-road on the front curtilage with space for at least two vehicles.

The location is ideal commuting distance to Walsall town centre and close to the major transport routes. Schools and healthcare centres are aplenty and within easy reach.

The minimum pcm you could expect is £595.00 and if the property sells at the current asking price, this would mean a yield of 7.52%.

If you would like an instant online appraisal as to the rental value of your property, please click here.

Click here for full property details or call Webbs estate agent (01922 312727) to arrange a viewing, I highly recommend it.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: http://www.walsallpropertyblog.com

Facebook:https://www.facebook.com/AshmoreLettings

Thank you for your response. ✨

Avoiding a ‘Nightmare’ Walsall tenancy!

10/10/201717/10/2017 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market Best Letting Agency Walsall, buy-to-let in walsall, How to Rent My Property Walsall, Letting Agents Walsall, Property Lettings Walsall, Walsall News, Walsall Property Expert, Walsall Property News

My neighbour came to see me the other day. I’m old fashioned like that…Yes, I talk to my neighbours! He knows I work in Property Management so thought he would pick my brains on a tenancy that has gone ‘awry’ for him.

If there is one thing that all landlords dread, it’s the ‘tenants from hell’! Whilst the vast majority of tenants cause no problems and will treat your property with respect it is an inherent risk of being a landlord. However, there are ways to minimise the likelihood of nightmare tenants becoming your tenants!

Now, I’ll help him to get his property back by following the legal process but I also wanted you, my Blog reading friends, to benefit from some tips I shared to ensure you have your risks covered. By following the 5-step-guide below you just might avoid a nightmare tenancy…

5 reasons why NOT to use Gumtree to let a Walsall Property

09/10/201713/10/2017 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market letting agent walsall, Letting Agents Walsall, Lettings Walsall, Property Lettings Walsall, Property Management Walsall, Top Letting Agency Walsall, Walsall Letting Agents, Walsall News, Walsall Property News

Honestly I could write a book about this. Time and time again through my agency career I would have landlords calling me, desperate for advice after they’ve placed a “lovely” tenant in their property using a free (or low cost) DIY advertising website. The tenant presented themselves as honest, open, and above all very capable of paying the rent.

But the truth is a different matter. They got into the property by deception, and ended up costing these landlords thousands of pounds in damages, unpaid rent, and above all…the stress. These landlords had to cover the mortgage whilst funding the legal battle. One made very difficult because they weren’t aware of all the legislation surrounding lettings. This could prejudice their position in court. Didn’t serve the Prescribed Information? Didn’t register the deposit within 30 days? That means the tenant could actually sue you for 3 times the deposit amount! And there’s more…

It has been said that some 30% of the PRS is made up of accidental landlords (Source: Landlordnews.co.uk). Here lies the problem. As an accidental, or amateur (not a bad thing!) landlord, it is unlikely that they invest the time to make themselves aware of all the legislation surrounding lettings. There is a lot, but as the saying goes “you don’t know what you don’t know,” so most are blissfully unaware – until it goes wrong, and they can do with disastrous consequences!

Today’s Buy To Let Deal, Pimpernel Drive, Walsall, WS5 With Yields Of 5.73%.

09/10/201709/10/2017 Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals buy-to-let in walsall, buying property in Walsall, Find Affordable Rental Properties in Walsall, How to Rent My Property Walsall, letting agent walsall, Renting Property in Walsall, Top Letting Agency Walsall, walsall property market, Walsall Property News

A modern two bedroom terraced house, Pimpernel Drive, Tamebridge, Walsall, WS5. The asking price is £110k with Purple Bricks (01926 267659). The full property details can be found here.

Located on the very popular and desirable Tamebridge estate and therefore has the potential for long term letting.

There are some changes to be made in terms of the decor and the rear garden will need to be attended to. It has a modern kitchen and bathroom, gas central heating, double glazing and off-road parking.

This top notch property will attract a minimum pcm rental of £525.00 meaning a rental yield of 5.73% based on the current sale price.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook:https://www.facebook.com/AshmoreLettings