When I talk to Landlords generally they are looking for a property that has 2 bedrooms and is no more than £130,000. These types of properties typically rent out for £650pcm which gives a good return of around 6%, however it has turned into a little bit of a scramble to find these properties and when you do, there are numerous investors looking at them and at this price point they will probably receive multiple offers or will need a lot of work to get them to a lettings standard which can be stressful. So, this week I bring you something a little different from the standard 2 up, 2 down, but that would still give you a good return, but with no work! Sounds appealing, huh?
I have found this lovely, modern and well presented three bedroom semi-detached house, with driveway and front and rear lawned gardens in Cheadle Heath for £235,000. The property is stunning inside, and it has been extended at the rear to open up the back of the property and allow for a large open plan kitchen/dining and living area with french windows opening onto a manicured lawn, and there is another, private reception room to! On the first floor are two large double bedrooms and a smaller single bedroom making this property perfect for a family. And… what do we know about families? They tend to move to an area and rent LONG TERM. Which means that you can reduce what you pay me on an annual basis for the tenant find! Hehe!
This property is on Kenilworth Road, close to Abney Hall Park and I believe that it would rent our for £950pcm and it needs no work doing to it at all in order to rent it. This would give you a yeild of 4.8% which is not to be sniffed at. The property is on the market with Mitchell Williams so give them a call to arrange a viewing and if you want me to accompany you give me a call on 0161 474 8668.
Happy house hunting! Gemma Lowe