Friday, 26 June 2015

Dont let this get away.. 7.8% Yield Wellfield Street


Good afternoon readers, if you take a look at some previous blog posts i have wrote about streets that rent well in Warrington - Wellfield Street is one of them top rental streets (click here)

The property i have found on my rightmove travels is one for sale on Wellfield Street (whitecross) The house is on the market for £69,950 however it is tired and in need of a refurb (new kitchen, fresh paint job, new flooring in certain rooms) I estimate around £3000 max to get this done to a good standard. Just bare in mind that the average price of property on this particular street is £84,465.

The property will rent for around £475 to £495 pcm. So going of the sale price + the refurb cost you are looking to achieve 7.8% yield if it was to let for £475 pcm. Pretty good ROI. Much better than letting your money sit tight in the bank.

 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 01925 235 335 or pop along and speak to us in person at our office at 6 Bankside, Crosfield Street, you can always email me on manoj@hamletwarrington.co.uk


If you enjoy reading my articles please visit the links below to view back dated issues. 





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Thursday, 25 June 2015

Almost a quarter of all tenants will never own their own home in Warrington







Over the weekend i received an email from a local Warrington Landlord, she wanted to know what my views are on the future rental market in Warrington regarding tenant demands as she read an article online somewhere which said more and more tenants are now buying their own houses and tenants are in low demand. I own and operate a Letting Agents in Warrington  and one thing we are not short of are tenant enquiries.  

A recent survey from Knight Frank, has underlined the increasing dominance of the private rented sector as a form of tenure in the UK. In a section of the largest survey of its kind ever conducted, 24% of the 3,500 private tenants felt that they expected to always rent a property. The survey by Knight Frank found that a further 15% said they would be in the sector for a further five or more years.





The survey, conducted with YouGov, also showed that while the difficulties in getting on to the housing ladder are an issue for many renters, 32% of tenants state that they are living in the private rented sector because it suits their lifestyle or they don’t want a mortgage. 

The survey shows that the majority of renters do not view the private rented sector as just a short-term move. Less than a quarter of tenants expect to leave the sector within two years. The dynamics of the housing market, where supply has failed to keep up with demand which in turn has played a role in pushing up house prices, has also put home ownership beyond the reach of many young workers, especially in key employment hubs. This, coupled with an increasing mobile and flexible workforce, has led to rising demand for privately rented property.

Off-street parking is the amenity most private tenants are prepared to pay extra for, although fully furnished flats will attract a premium among younger renters, especially the 18-24 age group, the survey shows. 



Of course this is all good news for landlords in Warrington, as it ensures a steady demand from tenants in the years to come, and if you provide a decent property in tune with market demands you will be on to a winner. The importance of the housing stock available through the private rented sector cannot be underestimated, and many new investment landlords are taking the opportunity to build a property portfolio in these continuing times of historically low bank interest rates, and after having bought/renovated/let your first property, the next one will be a much less painful process.



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 01925 235 335 or pop along and speak to us in person at our office at 6 Bankside, Crosfield Street, you can always email me on manoj@hamletwarrington.co.uk
If you enjoy reading my articles please visit the links below to view back dated issues. 
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Friday, 19 June 2015

Nice affordable 2 double bed maisonette - Close to town - 7.6% yield



Good afternoon readers. today i found a 2 bedroom maisonette on St. Elphines Close, fairly modern in appearance offers gas central heating, allocated parking, double glazing and secure entry to building, which are the sort of facilities that any keen tenant would want to have in place.


With an asking price of £75k this represents very good value for money, and could well suit a young couple or family as it is in close proximity to excellent schools and a stones throw away from the town centre. At an anticipated rent of around £475, this would give a gross rental yield of 7.6% which is very good at this point in time, and is reflective of the asking price.

The details of this property have already been forwarded to a number of our interested subscribers who are currently looking for such an investment. For a further chat about how we can help you with your investment purchase, call us now on 01925 235 338 or visit our office in Warrington 6 Bankside, Crosfield street for a more detailed discussion.
If you enjoy reading my articles please visit the links below to view back dated issues. 

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Thursday, 18 June 2015

Why cheaper isn't better, and how it could cost you dearly in Warrington



At the start of the month i was doing my daily round of dropping off the Warrington Property Talk newsletter when i bumped into another letting agent. He has been following the blogs and we ended up chatting about how the lettings market in Warrington has changed, there seems to be a lot of people who have decided to become letting agents in Warrington offering extremely low fee's but they don't seem to stand the test of time. 

The old maxim ‘buy cheap, buy twice’ could equally well apply to the rental market, to tenants but especially landlords. So why is cheap not better, after all it will save you money – won’t it?

For some landlords, the over-riding concern is often ‘ How can I save myself a few pounds on monthly management fees’, when it should be ‘How do I best protect my extremely expensive asset, which I may have borrowed money to purchase’ or ‘Which is the best type of investment property to buy that is currently in high demand on the rental market, which areas are more popular, and what is the most efficient way to fund the purchase’ – the answer to the last few questions will save you so much more than you will ever save yourself by taking your property to a cut-price letting agent.

The truth is, if you buy the wrong type of property, or buy in an unpopular area, or the property has problems that you are not prepared to address, then how are you ever going to let it out and make a profit? How are you going to find decent tenants if what you present to the market is not what the market wants? Worse still, knowing you are fighting a losing battle, how do you then sell it on to realise its value? By now, you are probably coming to a dead end and wishing you never started this journey in the first place. But help is at hand.... 

As a new investor, or even as a landlord looking to expand your portfolio into Warrington, what can you do to find the right path to profit? Speak to us here at Hamlet Homes, and we will work with you to understand what your goals are, and then help to guide you towards successfully accomplishing them. We can tell you what the market wants, and help you with the maths to make sure that it all work out financially (remember, you are not buying a home for yourself that looks cosy and idyllic, you are making a purely unemotional business related purchase and it needs to pay its way – simple as that). For a further chat about how we can help you with your investment purchase, call us now on 01925 235 338 or visit our office in Warrington 6 Bankside, Crosfield street for a more detailed discussion.

If you enjoy reading my articles please visit the links below to view back dated issues. 
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Wednesday, 17 June 2015

This Deal CAN not be missed Great Yields or a Great Flip.



Click to view property

Good Afternoon Readers, So I have noticed a property come up for sale on a street i invested in around this time last year. Now this house which is at auction is on Hoyle Street in Warrington.

I purchased a house 2 doors down from this house last year for £50k i spent around £18k on the refurb costs, however this property will let all day long at £500pcm bringing me in an impressive yield of 8.8% The numbers stack up and its a no brainer.

I will be more than happy to share my experience on this property including all the pictures for the refurb as the property did not have any gas central heating, it was taken back to brick and i started again. It is now a lovely 3 bedroom house ideal for a small family as it is in walking distance to local schools at the top of the road and town is only a 10 minute walk.

click to see refurb pictures

So when i spotted this property on rightmove today i had to share it with my readers. I know that internally the property will need to be modernised however i do not know how much refurbishment would be needed for this property. If done right though and purchased at £45k you can pull in a great yield with this property.

why not talk to me about this particular deal on Manoj (01925) 235 338 or pop in for a coffee and some free advice at our offices in Warrington. 


If you enjoy reading my articles please visit the links below to view back dated issues.

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Thursday, 11 June 2015

Warrington vs Runcorn vs Widnes for Buy- to- let Deals


I was chatting to a landlord with a small property portfolio last week. He lives locally and his properties are primarily in Warrington and the surrounding area. He wanted to ask my opinion on where he should his next Buy to Let property.
Looking at Runcorn, the average property price is around £115,000 and the average rent is around £495 per month. In Widnes, a similar town in profile, though a bit smaller, an average property is £145,000 but the average rent is also higher at £550 per month. The annual yield in Runcorn using these figures is around 5.1% per year, compared to Widnes where he could achieve an annual yield of nearer 4.5%. It made me consider what these figures would look like for Warrington, if we look at averages. Warrington’s average property price is slightly higher than Runcorn at £125,000. Average rents are around £600 per month, which means that with regards to return, it places above both of the neighbouring towns and produces a yield of 5.7%.

It goes to show our town of Warrington is be a good area for an investment property, but it is a decision that shouldn't be taken lightly, all three town have their merits. These are only averages, so if you buy wisely and are in a position to move quickly you could pick up a property that will produce a yield of between 6.5-9.5%. 
The trick is knowing WHAT and WHERE to buy! Keep an eye on the blog for any properties that I think represent a good bet in the realms of buy-to-let investment.
If you enjoy reading my articles please visit the links below to view back dated issues. 
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Monday, 8 June 2015

Deal to be done on this 2 bed flat in Warrington 8.4% yield


Good Afternoon fellow readers, its been a nice warm weekend but that didn't stop me from keep an eye out on what deals can be made on the Warrington property market.. Every landlord has their own strategy however sometimes if the numbers stack up on an investment you normally wouldn't go for it may be worth the punt rather than putting all your eggs in one basic you can share the risk across a few different styles of property.

 So this afternoon i decided to have a little nosey on rightmove and came across this little beauty. Its a 2 bedroom flat with a tenant already in the property paying £525 now the flat is on the market for £75k (may be room to negotiate) however on them figures alone that's yield of 8.4% 

Remember with flats like these there will be maintenance and service charges possibly other charges as well - its worth ringing up the agent and getting all the numbers and factoring that in. You will attract working professionals preferably a couple with a child as schools are close by and when a family move in they tend let the property for a lot longer.


 Don't hang around on this one, arrange a viewing and make an offer. If you would like to discuss this in more detail drop me an email on tesh@hamletwarrington.co.uk or pop into the office we are at 6 Bankside, Crosfield Street.The Kettle is always on
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Thursday, 4 June 2015

Its just to much hassle to switch agents…isn’t it?


If you are receiving our Warrington Property newsletter for the first time, or you have read our previous offerings, you will not be surprised to learn that, having firmly established ourselves in the Warrington area since 1999, we have started to attract many landlords seeking residential lettings advice and ultimately a better and more professional service than they receive from their current letting agent.

We are getting more and more landlords approaching us who are unhappy or dissatisfied with their current agent, and have been asking us how to go about moving management of their property to us. If you have a property in or around the Warrington area and are unhappy with your current agent then why not switch?

There is a general feeling amongst landlords that it is better to wait until their current tenant has given notice to leave the property before they even contemplate changing agents as it is far more problematic to change agents midway through a tenancy. Well, in a lot of cases this can be true, however, although it may seem like there is a lot of hassle involved in moving agents mid tenancy, it is not your hassle as we can do most of the work for you!

Have a look at our 5 step process if you are considering moving from your current letting agent if you are dissatisfied with their service:

1. Firstly you will need to find out how much, if any, notice you are required to give your current agent as detailed within the Terms and Conditions you signed at the start of your contract. Having determined this, give the required notice in writing to terminate your agreement. If you need any advice regarding this, then please contact us as it may help if your notice coincides with your current rent due date as it will make the switching process much more straightforward.

2. If you are on a fully managed service then it would be prudent to obtain the contact details for your current tenant which your agent should give you.

3. We will arrange to meet you, either at your home, or at our offices where we will go through our terms of business as well as outlining to you our lettings process and our commitment to providing an unrivalled lettings and management service. We will provide you with all the necessary paperwork for you to read and complete.

4. We will arrange to meet your current tenant at their property to explain everything to them and provide them with a welcome pack which will include a new standing order to pay their rent. We can also advise on cancelling their existing standing order. Part of this transfer may include a new tenancy agreement for the tenant to sign, This is to protect all parties as all of our tenancy agreements are updated regularly for changes in legislation. We will also deal with any necessary deposit transfer/registration.

5. Both you and your tenant will be assigned a dedicated property manager who will be your contact throughout the tenancy should any matters arise that require our attention.

That’s it. It really is that easy!


If you wish to discuss any aspect of this process in more detail, then please contact Andy Shaw on 01925 235338 who will be happy to speak to you.

If you enjoy reading my articles please visit the links below to view back dated issues.

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