A good looking semi in the Darlaston/ Wednesbury area with a massive rear garden by the looks of things. Overall it looks like it doesn’t need anything doing to it and can be let as is as far as I am concerned. Average sized rooms, coupled with double glazing and central heating. No bath in the er, bath-room, but that’s no biggie and some people prefer that anyway.
Ding, Ding!! Seconds out – Round 8! George Osborne today delivered his 8th Budget Statement as Chancellor of the Exchequer. Many consider the number 8 the luckiest of all numbers, and in Chinese culture it is favoured by business due to its association with prosperity, wealth and success. Although, in boxing terms, not many fighters predict a knock out in round 8. So, has Mr Osborne finally delivered the sucker punch to Walsall landlords?!
A standard terraced house with a modernised kitchen and certainly not much to look at from the outside, but sometimes this blinds us to the rental potential. Talking of modernisation, the decoration could do with updating. However, in general a good sized property with three double bedrooms, double glazing and gas central heating. Acceptable as it stands, but as I always say, there is always room for improvement. It doesn’t have to cost a fortune as sometimes a little says more. For starters the kitchen has been modernised and it stands to reason the rest of the property should follow suite (Did you see what I did there?).
One of my out of Town property landlords called me as he was coming to visit his family and friends towards the end of the month during the Easter break. He was born and brought up in Walsall and went to the Alumwell Business and Enterprise College which, as he recalls, used to be called the Alumwell Secondary School (way before my time of course!!).
To enhance his retirement, he has a small portfolio of four properties in the Walsall and surrounding area and wanted my advice on where to purchase his next buy to let property. As a University lecturer he lives in a college-owned flat and would never dream of buying where he lives in Kensington where the average value of a flat is £1.62m and a house averages out at £4.1m.
A pretty standard terraced type house on this popular street for rented accommodation. The property has an acceptable spec, however the bathroom looks like it could do with a good clean. But that should be pretty standard practice anyway and for a terraced house the garden isn’t too shabby either. Set in the heart of Caldmore and adjoining the Highgate border, the location is perfect for local schools both public and private (Mayfield Prepatory and Queen Mary’s Grammar schools being just half a mile away). Healthcare amenities such as doctors, dentists and chemists are aplenty and within easy each. Transport services are very good with bus routes and major road networks nearby with Walsall town centre just a mile away.
This deceptively large two bedroom end terrace house is in absolutely immaculate condition and can be let as it currently stands. The property type and high standard of spec makes it ideal for working professionals, individual or couple.This is further strengthened by its location about half a mile from M6 junction 9, ideal for commuting. For the frustrated footballer in all of us, Bescot stadium is but a short 5 -10 minute stroll away. The return journey could be a little longer if the Saddlers lose that Saturday. For your weekly shopping supplies look no further than the large Morrisons superstore just around the corner. It has a petrol forecourt as well…Handy!
One of my Walsall Wood landlords rang me last week after he had been speaking to a friend of his over a Costa (as you do!!). They were discussing the Walsall property market and neither of them could make their mind up if it was time to either sell or buy property. If you read the newspapers and the landlord forums on the internet, there is a good helping of ‘doom and gloom’, especially with changes in the taxation towards landlords, new legislation on checking tenants and the general uncertainty in the world economic situation (see last week’s article at https://walsallpropertyblog.com/2016/03/01/walsall-landlords-could-be-fined-1188000/) .
A three bedroom semi detached house, Commonside, Brownhills, WS8. The asking price is in the region of £110000 with Goodchilds of Brownhills (01543 526 869).
Check it out here:
http://www.zoopla.co.uk/for-sale/details/39524142
Let’s get into the nuts and bolts of this one straight away. This one is already being let at a pcm of £530.00 and if the property sells at the current asking price the yield is in the region of 5.78%. However, a property like this should be achieving a lot more around the £595.00 pcm mark, at least, for me. You may well have to loosen those purse strings and invest a little, but that could be the difference in increasing your yield to 6.49%.
A Two bedroom terraced house, Hereford street, Walsall, WS2. The asking price is around £65,000 with Bairstow Eves of Walsall (01911 312 791).
Check it out here: http://www.zoopla.co.uk/for-sale/details/38693844
A traditional terraced house that is for up for a cash only sale. Interestingly, the price has been reduced within the last two weeks. However, despite this decrease the property’s sale history suggests that there is some capital growth of around 14% as well as a fairly healthy yield.
Let’s have a look…
OMG (Oh My Gosh/ God for the old school peeps), said one of our tenants signing up last Saturday!! This is when they saw the load of paperwork they had to sign. Gone are the days when you could just ask for a word of mouth referral, collect a copy of a Tenancy Agreement from the local WH Smith and Bob’s your tenant (or is it??).
Amongst the hoard of documents I had were the Right to Rent Guide, copy of the Energy Performance Certificate, a current Gas Cert, an Electric Report, a Schedule of Conditions and Inventory, Prescribed Information and Terms & Conditions of the deposit scheme where the deposit was registered/ kept plus a few other bits…so the sharp intake of breath was understandable.
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