Today’s Buy To Let Deal Yields 6.25%. A 3 Bed Semi, Beeches Place, Walsall, WS3.

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

Every now and again a surprise package of a property turns up and I thought I would share my latest find with you.

Priced at £120k for a three bed semi is about average for the type and area. It is immaculately presented with a modern fitted kitchen and bathroom. The surprise feature is the large curtilage at the front of the property, which can easily accommodate several vehicles, but obviously as a landlord you wouldn’t want to turn this part of the property into a small caravan park. However, the reality of the situation is that professional couples/ families generally have more than one car. So, this would be ideal in meeting that requirement.

The full property details are here. I appraise the property at £625.00 pcm producing a yield 6.25%.

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Today’s Buy To let Deal Silver Street, Walsall, WS8 With Yields Of 6.00%.

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

A two bedroom semi detached house on a newbuild estate in the Brownhills area of Walsall. This is completely ready to go. The spec is immaculate. The property has two double bedrooms, the master bedroom has an en-suite shower room. There is also a guest WC. The property also benefits from double glazing and gas central heating. It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities.

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Today’s Buy To Let Deal 3 Bed Semi, Churchill Road, Walsall, WS2, With Yields Of 6.25%.

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

A very nice spec indeed on this semi in the Bentley area of Walsall. A good sized property with two double bedrooms and a single. It also has double glazing and gas central heating. Another great buy to let deal that requires little or no change to the decor. Normally I would say that a property like this would rent for just under £600.00 pcm, but the large curtilage parking at the front of the property allows for a little extra squeeze to £625.00.

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As a Walsall landlord is it wise to set up a Limited company?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
As a Walsall landlord is it wise to set up a Limited company?
As a Walsall landlord is it wise to set up a Limited company?

A question I get asked all too often is around whether to set up a limited company or not?  I’ve always maintained my expertise is not around tax (as much as it is the Accountant’s job and that’s why I have one..you should do too), but on this platform I can always share my thoughts with you.

In November 2015, George Osborne disclosed plans to restrain the buy to let (BTL) market, implying its growing attractiveness was leaving aspiring first time buyers contesting with landlords for the restricted number of properties on the market.  One of things he brought in was that tax relief on BTL mortgages would be capped, starting in April 2017.  Before April 2017, a private landlord could claim tax relief from their interest on their BTL mortgage at the rate they paid income tax – (i.e. 20% basic /40% higher rate and 45% additional rate).

So, for example, let’s say we have a Walsall landlord, a high rate tax payer who has a BTL investment where the rent is £600 a month and the mortgage is £400 per month.  In the tax year just gone (16/17), assuming no other costs or allowable items …

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Today’s Buy To Let Deal, 2 Bed Terraced House, Redhouse Street, Walsall, WS1. With Yields Of 5.70%.

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

A traditional two bedroom terraced house in the Palfrey area, Walsall, and a popular one for rentals. It checks all the boxes in terms of the size, style and price, but as a ready to go rental it isn’t. Well, If you are willing and I think you should be, to spend a little to gain a little more. Then changing the flooring and the decor is a must. The kitchen may need looking at as well, but it’s hard to tell from just the one photo. The property has two reception rooms and both bedrooms are double and there is a cloakroom WC as well.

The location is ideal for local schools both public and private (Mayfield Prepatory and Queen Mary’s Grammar schools are approx 2 miles away). Healthcare amenities such as doctors, dentists and chemists are within easy each. Transport services are very good with bus routes and major road networks nearby with Walsall town centre just a mile away. There is double glazing, gas central heating and parking is on-road.

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Walsall needs to build 5,400 mixed tenure properties in 7 years..

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Walsall needs to build 5,400 mixed tenure properties in 7 years..
Walsall needs to build 5,400 mixed tenure properties in 7 years..

I was having a most interesting chat the other day with a Walsall landlord when we were looking at a property he was thinking of buying. As I am sure you are aware, I am always happy to cast my eye over any potential buy-to-let purchase in Walsall, be that you emailing me a Rightmove/ Zoopla link, a brochure in the post or even treading the carpet and seeing it together. I don’t charge for that, and you don’t even need to be a client of mine.

We got talking about the Walsall Property Market and this landlord brought up the subject of a report he had read that stated almost 1.8m new rental homes are needed by 2025 to keep up with current demand from tenants. He wanted to know what this meant for Walsall.

Well my blog reading friends, some commentators said last winter that buy-to-let was about to die, what with the new stamp duty changes and how mortgage tax relief will be calculated. Others even said 500,000 rental properties would flood the market nationally in the 12 months after the new Stamp Duty rules came into force on the 1st April 2016 as landlords left the rental market. Well, all I can say is, I wish all the landlords of those half a million properties would hurry up and put them on the market – because I have plenty of other potential landlords wanting to buy them!

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Today’s Buy To Let Deal 3 Bed Semi, Alexander Road, Walsall, WS2, With Yields Of 5.95%.

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

A superb spec on this semi in the Bentley area of Walsall. A good sized property with two double bedrooms and a single. It also has double glazing and gas central heating. This is the definition of a buy to let deal that does not need a thing doing to it and is good to go as it is.

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Today’s Buy To Let Deal 3 Bed Terraced House, Bentley Lane, Walsall, WS2. With Yields Of 6.60%.

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

A three bedroom terraced house in the Birchills area of Walsall, WS2.

It’s a very good spec and could be let as is, but there are some aspects of the decor that could be improved. The asking price is for offers in the region of £100k, which is about average for this area.

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Walsall’s humble Semi-Detached house increased by 227% in value

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , ,
Walsall's humble semi increased in value by 227%
Walsall’s humble semi increased in value by 227%

The humble semi-detached house with its bay windows and net curtains has long been ridiculed as an emblem of safe, lacklustre and desperately uncool suburban life; the homes of the likes of Hyacinth Bucket in ‘Keeping up Appearances’ and more latterly Alan Partridge – but they could have the last laugh – having enjoyed one of the highest price growths of any property type in Walsall, up by an average 227% increase in the last twenty years!

The semi is, of course, still hugely popular on new build developments; although slightly more modern in appearance compared to its older ancestor!

The semi can now laugh in the face of its posher detached counterpart, which saw a rise of only 161% in the same 20-year period. Looking at smaller properties, flats/apartments rose 106%, whilst terraced houses did slightly better at 229% although they were starting from a lower base and demand from buy to let landlords has had a big part in driving up the values on that type of house based upon its rental potential.

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

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
5 reasons why NOT to use Gumtree to let a Walsall Property
5 reasons why NOT to use Gumtree to let a Walsall Property

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!

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