Ready To Rent an 6% "Yield"

www.propertyfile.org

Here's a good Buy To Let which has just come on the market with an agent in Hoddesdon. Two good sized bedrooms, well presented and in a great location for tenants being so close to the Town centre and easy reach of Rye Station. 

The property is offered Chain Free and looks ready to rent. Expect to achieve a rental of at least £850 per calendar month which will provide a "Yield" of around 6%. One important tip is to check the length of lease but other than that this is a good buy. 

    

Two Bedroom Apartment, Hoddesdon. £170,000 

Click Here For Details

My thoughts on the local Property rental market can always be found on my blog but if you would like some specific advice please feel free to pop into our High Street office in Stanstead Abbotts or give us a call.
 

Want some free advice on renting your property? Download our FREE guide "The Secrets to Successful Lettings", just go to www.pflet.instapage.com   

 "Your local property 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”

                                            

           

Deal Of The Day, Ware £155,000 & 5.5% Yield..................

www.propertyfile.co

Here's a nice little investment property that has been on the market for a while. One bedroom ground floor flat located at The Brambles in Ware. It is on the market at £155,000 and is offered Chain Free!

Difficult to see if it needs any refurbishments done as there are no internal shots! but as its only a one bedroom flat the costs shouldn't be too high should work be required. 

Expect this property to rent for £750 per calendar month upwards and so would provide a "Yield" of around 5.5%.

Just a quick word of warning to check the length of lease as it may need to be extended if it is a bit short.

Click Here For Details - One Bedroom Garden Flat, Ware £155,000

My thoughts on the local Property rental market can always be found on my blog but if you would like some specific advice please feel free to pop into our High Street office in Stanstead Abbotts or give us a call.
 

Want some free advice on renting your property? Download our FREE guide "The Secrets to Successful Lettings", just go to www.pflet.instapage.com   

 "Your local property 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”

                                            

           

Ware Region Property market since 2008........

www.propertyfile.co

Following on from my recent articles about the Ware region property market and in particular what had happened to the rents Ware & surrounding areas tenants have had to pay since the Credit Crunch here are some interesting numbers that I worked out this week. 

In 2008 our average rental achieved for a two bedroom apartment in the area was £700 per calendar month and now in 2015 similar properties would achieve £875 pcm, that's an increase of  25% in rental income over 7 years. There has also been a significant increase in capital growth on these properties as figures show that the average price of a two bedroom apartment has increased by just over £45,000 in the same 7 year period, this is also an increase of around 25%. 

Looking at the figures above, not only are the increases in rent and capital growth for the Ware region interesting but the best part for the investors is the increase in "Yield". Had you purchased the two bedroom apartment in 2008 for £157,000 and subsequently rented the property for £700 pcm you would have achieved a "Yield" of around 4.5%, not bad but when you consider that property is now achieving £875 pcm your "Yield" has now increased to 5.6%. So in summary, just by keeping hold of the asset you purchased in 2008, your monthly income has increased by 25%, your Yield has increased on the original investment and your capital has increased by nearly £6,500 per year!   

If you would like to know more about the local property market please feel free to get in touch at our High Street office in Stanstead Abbotts and we will be more than pleased to give you some tips and advice.

Want some free advice on renting your property? Download our FREE guide "The Secrets to Successful Lettings", just go to www.pflet.instapage.com   

Your local property 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”

Local Rentals Rise Close To National Highs..........

www.propertyfile.org

Tenant demand in the local private rented sector continues to boom. According to recent research from Rightmove, letting agents have seen a 76 per cent increase in email enquires over the past 12 months. Meanwhile, the latest Paragon Mortgage survey has revealed 43 per cent of landlords experienced a rise in demand during the second quarter of this year and 51 per cent expect further growth in the coming months.

It is clear that the number of people looking to rent a property is not going to slow down anytime soon. So, what can we do as Letting Agents to take advantage of this '

Rising rents

An obvious benefit of higher demand is that tenants will be willing to pay more to secure a property ahead of the competition. This has already led to a rise in rents locally as mentioned in my previous article. Rightmove revealed the top five high-demand locations outside of London as Stevenage, Southend, Dartford, Wickford and Basildon - These have all seen the average asking rent grow by between 11% and 13.6% over the past 12 months. Meaning our previous calculation of Hoddesdon rents rising by 9% is pretty close to these highs 

Martin Totty, chief executive of the Barbon Insurance Group, the parent company of HomeLet, stated: “Rental values are now increasing year on year across the country, with no exception."

Be more selective

Another advantage of high demand is that it allows for a more selective approach to be taken when choosing renters in our local area. Disputes and situations with problem tenants can often be traced back to the fact an unsuitable person was chosen to live in the property in the first place. With so many people now looking for a rented property we can afford to take the time to carry out thorough due diligence and ensure they are the right kind of people to let to. 

This has been highlighted by Sam Mitchell, head of lettings at Rightmove, who commented: "Demand for quality rental properties is at a record high … In these areas of high demand it’s more important than ever for tenants to know how to make themselves desirable to landlords, so having their finances in order and good references is key to getting the property they want in such a fast paced market."

As my existing landlord clients will testify, whether you manage your property yourself, or another local agent manages your properties, everyone is always made to feel welcome when they pop in to our offices in Stanstead Abbotts High Street to discuss anything to do with the local property market, how Stanstead Abbotts compares with its closest rival towns. I don’t do hard sell, I will just give you my honest and straight talking opinion.

"Your local property 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”

Deal Of The Day, Hoddesdon, 3 Bedroom House 5% "Yield"

www.propertyfile.co

This property has been on the market for a while but would make a great Buy To Let. It appears to be in good order throughout with modern Kitchen and white Bathroom suite so no need to spend much money on refurbishments and the location is ideal for tenants being so close to the John Warner School, town centre and easy access to Rye Station and other commuter routes.

On the market at £285,000 we have recently rented similar to this at £1200 Per Calendar Month which would provide a "Yield" of over 5% and with the general rise in the housing market and the need for buyers to be near good schools the capital growth and return should be great also.   
 

Click Here for details

My thoughts on the local Property rental market can always be found on my blog but if you would like some specific advice please feel free to pop into our High Street office in Stanstead Abbotts or give us a call.
 

 "Your local property 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”

                                            

           

Deal Of The Day, Hoddesdon, £184,000, 5.5% "Yield"

www.propertyfile.co

As part of our service as your local property investment experts we are always keen to recommend good property deals locally, even if the properties are on the market elsewhere, that will rent well and make you a good return.  

This property has been on the market for a while but would make a great Buy To Let. Seems in relative good order so no need to spend much money on refurbishments and the location is ideal for tenants being close to the town centre and easy access to Rye Station and other commuter routes.

On the market at £184,000 we have recently seen properties rent similar to this at between £850 to £900 Per Calendar Month which would provide a "Yield" of between 5.5% to 5.9% 
  

click link below for further details 

Two Bedroom Apartment, Hoddesdon, £184,000 

Stanstead Abbotts Property Values Rise 1.15% Over 3 Months...........

www.propertyfile.co

Property values in Stanstead Abbotts rose by 1.15% over the last 3 months. This follows several months of sluggish activity in the local property market in the run up to the Election, putting the average price of a property in Stanstead Abbotts at £366,383 but this is still 6.7% higher than 12 months ago.

Interestingly, the Council of Mortgage Lenders and Estate Agent trade bodies over the last few months have reported seeing a fall in mortgage lending and enquiries from prospective home buyers. This is important because it comes amid an overall rise in housing market activity in Stanstead Abbotts. Data from the Land Registry said completed house sales in Stanstead Abbotts in the three months to the end March 2015 actually rose by 13.3% compared to the same three month period up to March 2014.

This increase in property sales in Stanstead Abbotts is supporting local property values, as there is a shortage of houses coming onto the market property values are still rising well above the level of inflation. 

As I have said previously the population in the Ware region is growing at a much higher rate than the number of properties being built. This increasing demand for a roof over people’s head, which is outpacing the supply of new houses being built locally, is creating a severe imbalance in the local and national housing market, thus making home ownership an ever increasingly distant dream for many of the potential Stanstead Abbotts first time buyers.

In fact, I still maintain the view that house prices are likely to rise by a further 3 to 5% in Stanstead Abbotts in 2015. The reason being is that the rise reflects both strong economic conditions and steady market conditions with very low numbers of properties on the market. 

Many Buy to Let landlords know that investing in the Ware region property market is a long-term strategy of 5 - 10 years minimum. Governments come and go, but unless East Herts District Council start to build hundreds of new properties a year to make up for the lack of supply, a strong demand for rental properties will always remain.

As my existing landlord clients will testify, whether you manage your property yourself, or another local agent manages your properties, everyone is always made to feel welcome when they pop in to our offices in Stanstead Abbotts High Street to discuss anything to do with the local property market, how Stanstead Abbotts compares with its closest rival towns. I don’t do hard sell, I will just give you my honest and straight talking opinion.

"Your local property 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”

Local Landlords with Gas Boilers & Appliances

www.propertyfile.co

Here is some advice for the many Landlords with rented properties in the Ware, Hoddesdon and Hertford regions which have Gas Boilers and Appliances.

As from October 2015 Landlords will be required by law to install working smoke and carbon monoxide alarms in their properties, under measures announced by Housing Minister Brandon Lewis on the 11th March 2015. The move will help prevent up to 26 deaths and 670 injuries a year.

This measure comes with strong support after a consultation on property condition in the private rented sector and is part of wider government moves to ensure there are sufficient measures in place to protect public safety, while at the same time avoiding regulation which would push up rents and restrict the supply of homes, limiting choice for tenants.

Housing Minister Brandon Lewis said:

In 1988 just 8% of homes had a smoke alarm installed – now it’s over 90%.

The vast majority of landlords offer a good service and have installed smoke alarms in their homes, but I’m changing the law to ensure every tenant can be given this important protection.

But with working smoke alarms providing the vital seconds needed to escape a fire, I urge all tenants to make sure they regularly test their alarms to ensure they work when it counts. Testing regularly remains the tenant’s responsibility.

Communities Minister Stephen Williams said:

We’re determined to create a bigger, better and safer private rented sector – a key part of that is to ensure the safety of tenants with fire prevention and carbon monoxide warning.

People are at least 4 times more likely to die in a fire in the home if there’s no working smoke alarm.

That’s why we are proposing changes to the law that would require landlords to install working smoke alarms in their properties so tenants can give their families and those they care about a better chance of escaping a fire.

Ensuring the safety of tenants

The proposed changes to the law would require landlords to install smoke alarms on every floor of their property, and test them at the start of every tenancy.

Landlords would also need to install carbon monoxide alarms in high risk rooms – such as those where a solid fuel heating system is installed.

Those who fail to install smoke and carbon monoxide alarms would face sanctions and could face up to a £5,000 civil penalty.

This would bring private rented properties into line with existing building regulations that already require newly-built homes to have hard-wired smoke alarms installed.

And it’s in line with other measures the government has taken to improve standards in the private rented sector, without wrapping the industry up in red tape.

I believe this to be a great step forward in the private rented sector and as an agency will be ensuring all our properties with Gas Boilers and appliances have the Carbon Monoxide Alarms fitted before the October deadline.

My thoughts on the local Property rental market can always be found on my blog but if you would like some specific advice please feel free to pop into our High Street office in Stanstead Abbotts or give us a call.
 

 "Your local property 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”

Hoddesdon & Ware Region Rentals Rise 9%

www.propertyfile.co

I was talking to landlord from Hoddesdon the other day about what is happening to the level of rents that are being achieved in the local property market and in particular the increases over the last year.

With regard to Hoddesdon, it appears that rents being achieved for new rentals (i.e when the tenant moves out and new tenant moves in) have risen on average over 9% in the last 12 months on one and two bedroom apartments and two/three bedroom Houses, yet have increased at a slightly lower rate of 6% on larger properties. However, landlords with existing sitting tenants, irrespective of property type are not increasing their rents, as most landlords prefer to keep their existing tenant paying the same rate and have the peace of mind that their tenant remains in occupation and therefore reducing the risk of void periods. 

Bear in mind that rents only rose by 0.2% over 2008/9 due to a slight oversupply in the rental market in this period.  A lot of the people who couldn't sell their property in Hoddesdon, Ware and surrounding areas when the Credit Crunch hit in 2008, decided to let their house out instead of selling. In fact, the number of houses on the market dropped by over 50% between October 2007 and April 2010, a lot of which came on to the rental market locally. 

I told the landlord that there is a lack of new rental properties in Hertford, Hoddesdon and Ware coming on the market, in fact according to the Office of National Statistics, there are only 29 new rental properties are coming to the market each month but the population of  this region is rising by 130 people a month. This is compounded by the fact a number of landlords are looking to sell their rental properties in the coming months, as the property market improves. This fact is further further compounded as tenants in existing rental properties appear to be staying in properties for longer periods of time.

Looking at the rents charged in Hoddesdon, Ware, Hertford and surrounding areas historic evidence in the UK suggests private market rents have moved in line with inflation. Government figures only go back as far as the year 2000, but looking at other countries with similar housing markets (America, Australia, Ireland and Holland) the fact is rents paid by tenants tend to rise in line or just ahead of inflation.

As short term wage growth locally has eased off recently, rising by only 1.3% in the last 12 months, taking average salaries in Hertfordshire to £37,696pa, with the tax breaks announced by The Chancellor in the Budget, I believe, even though rents have kept pace with inflation in the past, renting as an option has become more affordable, and is increasingly seen as a lifestyle choice. With returning economic growth and expected increases in the rate of growth of wages, above inflation rental growth could rise.


If you are looking to invest locally and want to discuss the local rental market please feel free to come into our High Street offices in Stanstead Abbotts and we will be happy to give you some free unbiased advice or just give us a call we would be happy to hear from you.

"Your local property 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” 

Deal Of The Day, Hoddesdon, 5.5% Yield

www.propertyfile.co

Here's a nice property for Buy To Let purposes. On the market at £184,000 this is a well presented two bedroom apartment with an En-Suite shower room as well as a family bathroom located in the popular area of Boundary Park. This is always sought after by tenants as it is within easy reach of both the Town centre of Hoddesdon and Rye Park train station. 

We have recently let a very similar property to this one at £850 pcm and so with this purchase price you would achieve a 5.5% Yield easily and maybe more plus with the desirability of the area thrown in the all important "Void" periods should be low. Doesn't need much money spent on it as they were only built around 10 years ago and so is ready to rent.

If you are looking to invest locally, are interested in this or any other properties, please feel free to come into our High Street offices in Stanstead Abbotts and we will be happy to give you some free unbiased advice or just give us a call we would be happy to hear from you.

Two Bedroom Apartment, Hoddesdon, £184,000 

Your local property 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” 

Deal Of The Day, Ware. 6% Yield

www.propertyfile.co

Here's a bargain Buy To Let that's on the market with Ensum Brown Estate Agents in Ware. Priced at £119,995 this Studio is located in the sought after development of Lygean Avenue and is currently let at £595 pcm. We rent several of these type of properties in this location and they all achieve between £575 to £600 pcm, the "Void" periods are low due to the good demand and the communal areas are always well maintained. 

This one is well presented so no need to spend much money on refurbishments and as there is already a tenant you could start seeing a return the day you complete on the purchase. You may want to consider a new Kitchen at some point in the future and it is important to check the length of the lease.     

If you are looking to invest locally, are interested in this or any other properties, please feel free to come into our High Street offices in Stanstead Abbotts and we will be happy to give you some free unbiased advice or just give us a call we would be happy to hear from you.

Studio Apartment, Ware, £119,995 

Your local property 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” 

Ware & Hoddesdon Landlords Living Overseas Beware of Capital Gains Tax changes.

www.propertyfile.co

Here is some advice for the many Landlords with properties in the Ware, Hoddesdon and Hertford regions who are living abroad as, according to one accountant, you should get these properties valued now, even if you have no intention of selling.

She warns that failing to get a property valuation as soon as possible could mean you end up paying more tax when you do eventually sell. Her advice relates both to ex-pats and to foreign nationals with rental properties locally.

Clearly, everyone needs to take their own professional advice suited to their own circumstances, but according to Carol Cheesman of Cheesmans Accountants, changes to Capital Gains Tax have important implications.

Until April 5, non-UK residents could potentially dispose of UK assets without incurring a charge to Capital Gains Tax liability. However, from April 6, a charge to CGT will arise on non-UK residents (including trustees, certain companies and personal representatives as well as individuals) who dispose of UK residential property. Importantly, she says, the charge will only be applicable to gains accruing after April 6.

To help clarify this, Cheesman gives the following example: a UK residential property purchased in 2005 by a non-UK resident for £150,000 is valued at April 6, 2015, at £300,000 and it is sold in June 2015 for £310,000.

For a UK resident selling a buy-to-let property the gain arising would be calculated as the difference between the sale proceeds of £310,000 and the original cost of £150,000.However, under this new rule introduced for non-UK residents, the gain will be the difference between the sale proceeds and the value of the property as at April 6, 2015.

If non-UK resident property owners do not get a valuation now, then an alternative would be to apportion the total gain over the whole period of ownership which could result in a hefty tax bill. A non-UK resident could also attempt to obtain a retrospective valuation, but this will be complex, time-consuming and costly.

Cheesman also advises that on selling the property, a Non-Resident Capital Gains Tax (NRCGT) return will need to be filed with HMRC within 30 days of completion.

If the non-UK resident does not have an “established relationship” with HMRC, that is, they do not need to complete and file a UK tax return, then the NRCGT return will also need to contain an assessment of the tax due and this tax will also need to be paid within 30 days of completion.

Where there is an “established relationship”, the assessment of tax will be contained in the tax return that is to be submitted to HMRC for the year in which the disposal was made. The tax due would then be payable by the usual due date. It is likely that HMRC will penalise those who do not make a disclosure, even when there is no tax due.

Cheesman says: “It is important therefore for those non-UK residents with relatively straightforward tax affairs who do not usually correspond with HMRC (e.g. a retired pensioner) to be aware of the requirements for notifying them of a disposal of a UK residential property. “In conclusion, it is highly advisable to obtain a valuation of the property as soon as possible in order to avoid guesswork in the future, or costly valuation fees.”

So if you are a Landlord living overseas and have rental properties in the Hertford, Ware, Hoddesdon regions, or the surrounding areas, please feel free to get in touch with us and we will be happy to provide a current valuation for you, in writing with no charge.   

Source - property industry eye 

"Your local property 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”