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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WALSALL LANDLORDS – THREE THINGS I’ll be doing over Christmas 2017!!

WALSALL LANDLORDS - THREE THINGS I’LL BE DOING OVER CHRISTMAS
WALSALL LANDLORDS – THREE THINGS I’LL BE DOING OVER CHRISTMAS 2017

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…

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Today’s Buy To Let Deal Is A Winner, Winner Chicken Dinner!

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

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How many Walsall properties will be illegal to ‘Rent Out’ in 2018?!

How many Walsall properties will be illegal to ‘Rent Out’ in 2018?!
How many Walsall properties will be illegal to ‘Rent Out’ in 2018?!

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.

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How much are Walsall Buy-to-Let Yields a year?

How much are Walsall Buy-to-Let Yields a year?
How much are Walsall Buy-to-Let Yields a year?

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.

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Buy To Let Deal Of The Day, Gower Street, Walsall, WS2. Yields 4.95%.

A two bedroom semi detached house in the Pleck area of Walsall, WS2. It has been listed with Zoopla just two days ago. There are plenty of photos, which show decent property spec including a modern kitchen and bathroom. The decor is neutral, both bedrooms are large and there is double glazing and central heating. This one could be let as is, but I would recommend doing something with the grass in the rear garden, it does look a bit worse for wear. Parking looks like it is on-road.

The selling price is £120k and it is located in an area popular for rented accommodation.

There are a selection of local schools, healthcare amenities such as doctors, dentists and chemists within easy each. Transport services are very good with bus routes and major road networks nearby and Walsall town centre only a couple of miles away.

I appraise the rental to be £495.00 pcm giving a yield of 4.95%. Currently on offer with Connells (01922 716026) click here for the full property details.

If you would like an instant online appraisal as to the rental value of your property, please click 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 5.41% 2 Bedroom Semi Detached House, Bank Street, Cannock, WS12.

A two bedroom semi detached house, Bank Street, Cannock, WS12. The asking price is for £127500 and is marketed by Purple Bricks (01926 267659).

An excellent spec throughout with modern kitchen, bathroom, gas central heating and double glazing, however the rear garden will need some attention. Parking facilities are not listed in the description.

The location is ideal for commuting to Cannock town centre. Many other amenities and services are all within a short distance away.

I appraise the pcm at a minimum of £575.00 and if the property sells at the current asking price, this makes a yield of 5.41%.

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