"Unusual Agent - more like unique!"
Just wanted to say that your service is second to none, we had been renting with Blue Door for a year now and have found Greg to be polite friendly and most importantly quick to act on any problems that may have occurred. He clearly has not only ours but the landlords interest at heart which is really all you can ask for but he does seem to go that extra mile when needed.
Thanks again for all the support and help"
Friday, May 11, 2007
Sunday, April 29, 2007
Managed or Non-Managed?
Nice big rubbish bin, green recycling box, doormat and lawn neatly mown by our gardener?
Or unkempt front lawn and no bin?
We can show your tenants that you are a nice landlord in lots of ways. If you are nice to them they are nice to you and we are nice to everybody. Smile!
Friday, April 27, 2007
Ramblings on prices
I have a lot of theories about a lot of things but some of the theories I have about lettings are spot on.
One is that a property will only let for what a tenant is willing to pay for it. This sounds obvious but what I mean is that the prospective tenant for a one bed flat or a three bed house has a budget in mind based on a few things. Firstly how may people will be paying the rent, secondly how much the monthly mortgage payment on the house would be if they bought it themselves and thirdly there is a seemingly random relationship between rent and property prices.
Thanks to the internet it is very easy for anyone to find out what a house was bought for and when or how much similar properties are being sold for. Sites like http://www.nethouseprices.com/ have taken the mystery out of purchase prices and for a mere £3.00 Land Registry will sell you a pdf of the title deed of any property which lists its owners and any mortgagees.
This is why there is a ceiling on rents for a particular sized property which to some extent disregards its interior finish or its location. Furniture does not add a premium to the rent and neither do white goods. Tenants in this area expect white goods and beds as basics and in a lot of properties landlord's furniture is seen as a hindrance.
Tenants aren't silly, if they could buy the property for less than the advertised rent then they will do that instead. The days of landlords picking a price and tenants paying it are long gone which brings me to the last point about rent and purchase prices.
There's a funny thing in and around Oxford that if have a house to let which is worth between £200,000 and £250,000 you will get a rent of between £850 and £950 pcm. I can advertise these kind of properties on a landlord's instruction for £900 or £975 and get absolutely no hits whatsoever. If I drop this by even £25 I will get have the phone ringing off the hook. It seems that there is a magic number and that it is in the tenant's head, not the landlord's!
If this seems like a bad return there are a few things you can do; switch to an interest only mortgage on your rental properties then let through bluedoor. Our fees for full management are only £65+VAT which is £76.30 per month or less than 9% on that £850 rent.
If you are thinking of investing in property to let and aren't sure what to buy give me a ring and I will help you all I can. 01235 524800
One is that a property will only let for what a tenant is willing to pay for it. This sounds obvious but what I mean is that the prospective tenant for a one bed flat or a three bed house has a budget in mind based on a few things. Firstly how may people will be paying the rent, secondly how much the monthly mortgage payment on the house would be if they bought it themselves and thirdly there is a seemingly random relationship between rent and property prices.
Thanks to the internet it is very easy for anyone to find out what a house was bought for and when or how much similar properties are being sold for. Sites like http://www.nethouseprices.com/ have taken the mystery out of purchase prices and for a mere £3.00 Land Registry will sell you a pdf of the title deed of any property which lists its owners and any mortgagees.
This is why there is a ceiling on rents for a particular sized property which to some extent disregards its interior finish or its location. Furniture does not add a premium to the rent and neither do white goods. Tenants in this area expect white goods and beds as basics and in a lot of properties landlord's furniture is seen as a hindrance.
Tenants aren't silly, if they could buy the property for less than the advertised rent then they will do that instead. The days of landlords picking a price and tenants paying it are long gone which brings me to the last point about rent and purchase prices.
There's a funny thing in and around Oxford that if have a house to let which is worth between £200,000 and £250,000 you will get a rent of between £850 and £950 pcm. I can advertise these kind of properties on a landlord's instruction for £900 or £975 and get absolutely no hits whatsoever. If I drop this by even £25 I will get have the phone ringing off the hook. It seems that there is a magic number and that it is in the tenant's head, not the landlord's!
If this seems like a bad return there are a few things you can do; switch to an interest only mortgage on your rental properties then let through bluedoor. Our fees for full management are only £65+VAT which is £76.30 per month or less than 9% on that £850 rent.
If you are thinking of investing in property to let and aren't sure what to buy give me a ring and I will help you all I can. 01235 524800
Thursday, April 19, 2007
Hello from Bluedoor
I like to be cheery in my emails and I seem to be writing a lot of them lately. My email is as busy as the phone!
This morning I tested my sat-nav to see if it would get me to a small but perfectly presented terraced house in Reading. Yes, Bluedoor's fame has spread south and we now have 2 properties in Reading. Want a look? Here they are
Check out the shine on that parquet flooring in Caversham!
And here's the terrace with my kind of door- lovely and blue. I didn't think I should move the umbrella-man sign just in case............
This morning I tested my sat-nav to see if it would get me to a small but perfectly presented terraced house in Reading. Yes, Bluedoor's fame has spread south and we now have 2 properties in Reading. Want a look? Here they are
Check out the shine on that parquet flooring in Caversham!
And here's the terrace with my kind of door- lovely and blue. I didn't think I should move the umbrella-man sign just in case............
The sat nav is a bit crazy and decided to guide me home a different way which sent me past my sister's house so I stopped in there to say hello and see my sweet little niece. Once I got back to the office I sorted the post and replied to the phone messages that had piled up while I was driving then a new landlord called and asked me round to her flat in Oxford to see if I would take it on. 6.30? Of course, no problem. This is why I am losing weight - I keep missing dinner!
So after a busy, busy day I'm hoping tomorrow will be quieter so I can walk to work and get me some fresh air.
Oh and do you like my new clock over there on the right? Click on it if you want one for yourself!
Subscribe to:
Posts (Atom)