An existing client of ours was looking at purchasing another investment property for the purpose of "Buy to Let" and asked us to point him in the right direction, we were given the budget he wanted to spend and the type of property he wanted, most important of all on his wish list was a property that would provide the least Void periods (when the property is vacant) as possible. This leads to the question of how to reduce the void!
Two of the most important issues to reduce void periods are desirability and price, after all if the property is very desirable and the price is right then it stands to reason that this will encourage the property to be let quickly and therefore reduce the amount of time that it is vacant.
One such area that continually performs well for both rental income achieved and the all important desirability is River Meads in Stanstead Abbotts, although some may argue that the properties are higher in price than the average and that the running costs can be quite a bit above the norm, the fact is that it is a very sought after location and tenants want to live there. This means that when the properties become available, if they are priced and presented correctly, they get rented quickly and the tenants generally stay for a good length of time.
A decent size One bedroom apartment that is well presented will currently achieve £700 to £750 per calendar month in River Meads with a Two bedroom apartment renting for around £850 per calendar month. Choose one that has direct views of the River and you will almost certainly get the top end of those figures.
If you are looking to purchase a Buy To Let property locally and would like some tips and advice come in to our High street office and we will be pleased to help or if you already have a property to let that requires a tenant we will be happy to help with that too.
"Your local lettings experts, our advice is free but our knowledge is priceless"
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”
Adrian Fallart - Director - Property File
No comments:
Post a Comment