Self-Managing a Walsall Property… I Can DO It…!!

Self-Managing a Walsall Property… I Can DO It…!!
Self-Managing a Walsall Property… I Can DO It…!!

During my rounds in Walsall town centre this weekend I bumped into one of our Let Only landlords who I hadn’t seen for a while.  I’m going to call her Ally Monie just for the fun of it!  We decided to have a catch-up over a coffee inside the new Co-Op on Bridge Street (lovely it was too!!).  She told me about the shock and dismay when she recently visited one of her properties after 3 years!

It’s ok, it’s not one of those horror stories that you hear where there was a cannabis factory in the loft, or there were four other people living in the property that shouldn’t have been or worst still the property was deliberately trashed, or is it…

Ally owns a number of properties and used our services to provide our Walsall Tenant Find Only service.  She didn’t need an Agent for management, agency fees are money for old rope, and she had plenty of time to manage.

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Recovering Possession of a Walsall Property.

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.

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

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.

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

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.

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Walsall Property Sales Drop by 51.83%!

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:

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Today’s BTL Deal, One Bed Semi, Wareham Close, Walsall, WS3 Yields Of 7.20%.

A one bedroom terraced house in a popular estate in Walsall for rentals. It is a very nice spec and billed as a buy to let opportunity and already being let as is. However, it is not clear from the listing whether the property comes with the current “Sitting tenant”. It is a modern build with all the relevant features e.g. double glazing, gas central heating type, fitted kitchen, bathroom with shower, low maintenance gardens and off-road parking.

It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall town centre.

The current asking price is fore offers over £75k and based on the current rental of £450.00 pcm will return a yield of 7.20%. However, I feel that offers “Over” the asking price are asking a little too much.

Currently on offer with Goodchilds (01922 312016) click here for the full details http://www.zoopla.co.uk/for-sale/details/40817062 and the EPC can be found 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: www.walsallpropertyblog.com

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

Twitter: https://twitter.com/AshmoreLettings

 

Today’s Buy To Let Deal yields 5.50% is a 2 Bed Terraced house with Loft Conversion, Walsall, WS4.

A 2 bedroom terraced house in the Rushall area of Walsall, WS4, currently marketed by Purple Bricks (0121 721 9601). Plenty of photos here showing the property off at its best. The decor is all neutral and does not need anything doing to it from what I can see.

Without an internal viewing it is impossible to assess if anything needs to be done as regards upgrades, but as it stands it looks good to go. You could expect a rental of £550.00 pcm.   Therefore, if the property sells at the current asking price will result in a yield of 5.50%.

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

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