Today’s Buy To Let Deal 3 Bed Terraced, Walsall, WS2. Yields 6.30%.

A good looking traditional terraced house on the Darlaston Road, Walsall, WS2. It has a decent sized and low maintenance rear garden. Overall it looks like it doesn’t need anything major doing to it. Obviously a closer inspection would be the final arbiter. So, it possibly could be lout out as is. There are two double bedrooms and a single, though the size of the single means you could get a double bed in there, but that wouldn’t leave much room for anything else. Sadly, no photos are on the listing.

There is a Modern style kitchen with space for white goods. The parking is on-road. Located on the main Darlaston Road it is not far from Walsall, Darlaston and Wednesbury town centres.

Listed today with an asking price of £100k and based on a rental of £525.00 pcm will return a yield of 6.30%.

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

Currently on offer with Purple Bricks (0121 721 9601) click here for the full property details and 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.

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

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Would you buy your Walsall home off the internet?

Would you buy your Walsall home off the internet?
Would you buy your Walsall home off the internet?

People say buying a house or moving home is stressful.  I totally agree and whilst at my Agency we do our best to make things easy believe me, when I say it’s nothing compared to online shopping!!

My close friends and family know that I dislike self service tills and the impersonal detachment of internet shopping.  I can be honest and admit that I absolutely hate it.  Don’t get me wrong, I think it has its place especially when I enviously see my neighbour’s food shopping being brought by a kindly man driving a Morrison’s van bringing their weekly shop to the door.  Seeing this made me think how great it would be and how much time I would save if I or my wife didn’t have to go food shopping.

The one and only time I tried food shopping online I received all sorts of stuff.  Some I ordered and some I didn’t… other times I tried Birthday gifts which didn’t arrive on time, clothes which looked lovely on the internet model are not what I had hoped for – sack of spuds springs to mind!

A long awaited mother’s day gift for my sister was delivered by courier to my house and because no one was home they very kindly left it in a safe place… the recycling bin which was emptied on the same day!  So, if you don’t mind, I’m sticking to high street shopping in the future.

Thank goodness we don’t buy houses online.  Can you imagine it…?!

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Get out of the Walsall Property Rental Market!

Get out of the Walsall Property Rental Market!
Get out of the Walsall Property Rental Market!

I was recently reading a report by the Home website which suggested that landlords are selling en-masse their buy-to-let investments due to increasing burdens on them in the buy-to-let market.  Their findings suggest the number of new properties that came onto the market nationally (for sale) jumped by 11% across the UK as a result.

Those increasing burdens include new tax rules coming in over the next 3 to 4 years and the announcement that all self-managing landlords (i.e. landlords that don’t use a letting agent to look after their buy-to-let property) will soon need to register with a compulsory redress scheme to resolve tenant arguments and disputes; as Westminster wants to heighten standards in the Private Rented Sector.

Interestingly, a few weeks ago I was chatting with a self-managed landlord from Bloxwich, when I was out who didn’t realise the other recent legislations that have hit the Private Rented sector, including the ‘Right to Rent’ regulations which came in to operation last year.  Landlords have to certify their tenants have the legal right to live in the UK.  This includes checking and taking copies of their tenant’s passport or visa before the tenancy is signed.  Of course, if you use a letting agent to manage your property, they will usually sort this for you (as they will with the redress scheme when that is implemented).

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Smokin’! What’s The Deal With Smoke Alarms?

Back in 2015 The Smoke Alarm Regulations came into being. Now, apparently approx 30% of UK residents have never tested their smoke alarms so, what does all of this mean for landlords and tenants?

Let’s talk about landlords first:

  • Landlords must install a smoke alarm on every floor of their rental property.
  • Landlords must install a carbon monoxide alarm in any room with a solid fuel burning appliance (E.g. Coal fire, wood burning stove). Though not a requirement, it is advisable to also install one near a gas appliance.
  • Licensed HMOs are exempt from this regulation as they must comply with separate fire safety regulations.
  • Social housing landlords are exempt.
  • Live-in landlords are exempt.

Whether exempt or not, it would behove all landlords to ensure the safety of their tenants.

  • All alarms should be in working order at the start date of a new tenancy as per the tenancy start date stated in the tenancy agreement. This does not include tenancy renewals.
  • It is advisable to obtain the tenant’s signature for them to confirm that the alarms were tested and working in their presence. This could be included in a document that also confirms they have received all documentation as per the How To Rent Guide“.
  • Or, it could be included in an inventory and schedule of condition.

There are no requirements for a specific type of alarm or on the location of the alarm installation. It is recommended to follow manufacturer’s instructions and that they are installed on a ceiling in a circulation space i.e. hall or landing. Carbon Monoxide detectors should be placed at head height and approx one to three metres from the solid fuel/ gas appliance. If in doubt on the installation of alarms you can also contact you local fire service for advice.

The failure to comply with these regulations is a fine of up to £5000 if the 28 day remedial notice has not been adhered to.

 

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The Buy To Let Let Deal Of The Day Is A Unique 3 Bed Semi Going Once, Going Twice…

This three bedroom semi detached house is beautifully presented. It is situated in Blakenall Lane, Leamore, Walsall, WS3. It is for sale via auction and there is a an open house viewing on Wednesday 7th March 2018 between 3.00 pm and 4.00 pm. Reserve your booking via Goodchilds 01922 312016. It is noted that cash buyers are preferred.

There are plenty of photos to show off the very attractive spec of this property with its many original features which include Minton tiled entrance and stained glass double glazing to mention just two.  It has everything you could want in a property including double glazing, gas central heating, modern fitted kitchen and bathroom.

The location benefits from being within easy reach of all the major road networks, services and other amenities lending easy access to Walsall and Bloxwich town centres. Additionally there are two double bedrooms and a single. Topped off with off-road parking and a large courtyard style rear garden.

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Walsall Millennials set to inherit the Earth!!

Walsall Millennials set to inherit the Earth
Walsall Millennials set to inherit the Earth

That got your attention… didn’t it!

Last weekend I went to our favourite restaurant in Leamore (North Walsall) with the family.  The owner is a client of mine and so, in between the Biryani and Nan Bread naturally, we started talking about our favourite subject… the Walsall property market.  He informed me that he was a Millennial which is a term I’m familiar with but then he also told me that I was a Generation X!  I had to look this up when I got home as I thought he was teasing me at first.

What is Generation X, let alone Generation Z, Millennials, Baby Boomers…?  These are phrases banded around about the different life stages of our society.  When terminologies like this are used as often and habitually as these phrases (i.e. Gen X this, Millennial that etc.), it appears particularly vital we have some practical idea of what these terms actually mean.  The fact is that everyone uses these phrases, but often, like myself, they are not exactly sure where the lines are drawn… until now…

So, for clarity …

Generation Z:             Born after 1996

Millennials:                 Born 1977 to 1995

Generation X:             Born 1965 to 1976

Baby Boomers:           Born 1946 to 1964

Silent Generation:      Born 1945 and before

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How to Find a Great Walsall Buy To Let Property!

How to Find a Great Walsall Buy To Let Property!
How to Find a Great Walsall Buy To Let Property!

One of the best things I love about my job as an agent is helping Walsall landlords with their strategic portfolio management.  Gone are the days of making money by buying any old Walsall property to rent out or sell on.  These days, property investment is both an art and science.  The art is your gut reaction to a property, but with the power of the internet and the way the Walsall property market has gone in the last 10-15 years, science must also play its part on a property’s future viability for investment.

As a property professional I use many metrics (as do others), when deciding the viability of a rental property i.e. the price, the average rent, the yield and one you may not be too familiar with is – an average value per square foot.

However, another metric I like to use is the average rent per square foot.  The reason being is that it’s a great way to judge a property from the point of view of the tenant … what space they get for their money.  Now of course, location plays a huge influencing factor when it comes to rents (and hence rent per square foot).  Like people buying a property, tenants also have that balancing act between better/worse location, more vs. less money and size of accommodation (bigger and more rooms equalling more money) and where they live (location) verses making ends meet.

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