A modern 3 bedroom terraced house in the Rushall area of Walsall, WS4, currently marketed by Acorns & Co (01926 312060). Plenty of photos showing a very nice spec. The decor is neutral which is excellent news and the carpeting may need to be changed, but not essential.
I would highly recommend a viewing. Based on what we can see you could expect a rental of £625.00 pcm. Therefore, if the property sells at the current asking price of £125k will result in a yield of 6.00%
If you would like an instant online appraisal as to the rental value of your property, please click here.
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…
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.
My Blog reading friends and existing clients will know that at some point over the Christmas break I get fed up of all the eating, drinking and partying. “Bah! Humbug!” I hear you say…but in reality I think it’s simply that as a busy business owner, my mind and body can’t take the change in pace from mad and hectic to practically a vegetative like state.
So it’s usually around this time of the year, when I hit that point and I need to re-engage my brain, this is what I plan to do…
Leading on from my last BTL deal, I came across another similar property on Tamebridge on Harebell Close this time. Namely, a two bedroom terraced house, WS5. The full details here.
The marketed value is for offers around £124950k. Now, if the stats on the listing are correct, the last sale of the property on 22/08/2017 was £90k. Therefore, this means in just under 4 months, the property has increased in value by almost £35k! Now that’s some mad capital growth in such a short space of time!
Again, I don’t see this property selling at the asking price. Seems to me the seller bought it at a bargain price and is now trying to capitalise quickly, but as to whether it is worth the asking price, I don’t think it is. The spec is absolutely what you would expect from a property on Tamebridge and there is nothing out of the ordinary nor unique that would set it apart from other similar properties on the estate
For the last 10 years, every private rental property must have an Energy Performance Certificate (EPC) rating before being marketed. The property is given an energy rating, very similar to those on washing machines and fridges with the rainbow coloured graph, of between A to G (A being the most efficient and G the worst).
New legislation comes in to force next spring (2018) for English and Welsh private landlords making it illegal to let a property that does not meet a certain energy rating. After the 1st of April next year, any new tenant moving into a private rented property or an existing tenant renewing their tenancy must have property with an energy performance rating of E or above on the property’s EPC and the new law will apply for all prevailing tenancies in the spring of 2020. After April 2018, if a landlord lets a property in the ‘F’ and ‘G’ ratings (i.e. those properties with the worst energy ratings) Trading Standards could fine Walsall landlords up to £4,000.
Purchasing your first Walsall buy to let (BTL) property is not the same as buying one to live in. You have to employ a completely different set of tactics, methodology and mind-set.
The main difference is when purchasing your own property, you may well pay a little more to get the home you and your family want, and are less likely to compromise. When buying for your own use, it is only human nature you will want the best, so that quite often it is at the top end of your budget; because as my parents always used to tell me – you get what you pay for in this world!
Yet with a Walsall buy to let property, if your goal is a higher rental return – a higher price doesn’t always equate to higher monthly returns – in fact quite the opposite. Reasonably priced Walsall properties can bring in higher monthly returns. Most landlords use the phrase ‘yield’ instead of monthly return. To calculate the yield on a buy to let property one basically takes the monthly rent, multiplies it by 12 to get the annual rent and then divides it by the value of the property.