Tamworth landlords… what’s your game plan?

Over the weekend my family and I were having one of our games nights, usually playing the modern board games such as “Settlers of Catan” or Lords of Waterdeep, This night however my son had brought with him his first monopoly board game, it’s the original one, unlike these fancy new ones. We cracked the old box of monopoly open. I actually forgot how much fun it was and secretly how competitive I am. Yes it’s just a game however I had a game plan (buy everything I land on!).

Having a game plan is key when investing your money in a Tamworth property.

All landlords are different in the way they play the property game. Some landlords prefer to accept a modest yield/return on their investment for an increased certainty of finding a quality tenant. Other landlords are interested in high returns, with a greater risk with regards to the quality of the tenant. Before you start playing, it is a good idea to have a game plan.

For a low risk investment, you could buy property in the areas of Dosthill or even Riverside which are perceived as being more desirable, where you may be able to achieve an annual yield of around 4-6%. Following my article a few weeks ago, if you don’t mind a slightly higher risk of void periods or a more varied quality of tenant, you are likely to be rewarded with a higher annual yield of 6-8%. This level of risk can be typically taken with Victorian terraced houses around Tamworth, I am happy to discuss and outline specific areas down to the streets. If you are after annual yields of 8%+ and over, you could take more of a risk with houses of multiple occupancy (HMO’s) we have plenty of experience with HMO’s I own a few of these myself and they bring in a much higher yield however you have to always remember that tenants moving into HMO’s are not tenants for life and you will have to expect void periods. I have strategies to reduce the void periods and to attract potential tenants to your rooms.

If you would like to read other articles about the Tamworth Property Market, please visit the Tamworth Property Market Blog or give me a call on 077531484956, you can even email me at lorraine@hallandthompson.co.uk

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If New Build is your thing, you may like the Hamstall,Tamworth B77

If you are looking for a modern home, this large new build with four bedrooms 2 with en-suite, lounge, study, dining kitchen, cloaks, family bathroom and double integral garage may be for you. 

The house is on a small development of 29 properties tucked away along a private driveway off Overwoods Road. The bespoke new development features a range of 13 house types each offering its own unique charm to suite varying lifestyles. Offering the perfect balance of rural living and a wealth of local amenities, these luxury homes are generous in both space and specification.  
 
If the price tag of £419,500 doesn’t scare you off and you fancy a viewing, give Hunters of Tamworth a call. 
 
Rightmove …….http://bit.ly/2c4Hi8S
 
I haven’t researched how the HS2 will effect the properties on this site but all relevant information can be obtained form the official stop HS2 alliance website.

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk

 
   
Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!
 
 
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“Property of The Week!” Regal Residence For Sale On Watling Street – Dordon, Tamworth

Whilst out enjoying the bank holiday sun, I came across this awesome property on Watling Street  just outside of Dordon, that I think ticks most of the boxes for being a dream home for the owner enjoys the finer things in life which is why it is our “Property of The Week!”

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This impressive property is for sale with our good friends at Mark Evans & Co. with a guide price of £695,000.  Not a cheap property but this is a 5 bedroom beauty that is the perfect home for relaxing in. Alternatively you could be the host with the most for summer garden parties or elegant dinner parties in winter – and do not worry, the property has multiple kitchens so the other half does not have the excuse of “getting in the way!”
From the exterior the property is very impressive – when I got home and found the listing online I was blown away by the sheer quality of the property – every feature and fitting is perfectly matched. The garden is immaculate and has mature trees dotted amongst massive garden. The stand alone conservatory is of equal quality to the house and is currently used as a games room
There is so much included with this property that it really could be a once in a lifetime sale as big homes like this are often peoples homes for life so if you are interested be sure to get those appointments to view in quick as once it has gone you might never get an opportunity quite like it again!

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If you liked this article be sure to let us know what you think and be sure to check regularly for those all important property listings, tips and tricks for buying, selling and letting and helpful advice for property in the local area! Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!

To view this property in full please visit the following link: http://bit.ly/2caWQYT

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Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!

10,600 People Live In Every Square Mile Of Tamworth – Is Tamworth Over Crowded?

Tamworth is already in the clutches of a population crisis that has now started to affect the quality of life of those living in Tamworth. There are simply not enough homes in Tamworth to house the greater number of people wanting to live in the town. The burden on public services is almost at breaking point with many parents unable to send their child to their first choice of primary or secondary school and the chances of getting a decent Dentist or GP Doctor Surgery next to nil.
 
Well that’s what the papers would say.. but let’s look at real numbers, and in particular my specialist subject of Tamworth Property, with the housing issue in Tamworth. To start with, the UK has roughly 1,065 people per square mile – the second highest in Europe. The total area of Tamworth itself is 6.917 square miles and there are 73,900 Tamworth residents, meaning …
 
10,600 people live in each square mile of Tamworth, it’s no wonder we appear to be bursting at the seams!
 
… but yet again, newspapers, politicians and property market bloggers quote big numbers to sell more newspapers, get elected or get people to read their blog (I recognise the irony!). A square mile is enormous, so the numbers look correspondingly large (and headline grabbing). Most people reading this will know what an ‘acre’ is, but those younger readers who don’t, it is an imperial unit of measurement for land and it is approximately 63 metres square.

   
In Tamworth, only 15.22 people live in every acre of Tamworth … not as headline grabbing, but a lot closer to home and relative to everyday life, and if I am being honest, a figure that doesn’t seem that bad.
 
Yet, the issue at hand is, we need more homes building. In 2007, Tony Blair set a target that 240,000 homes a year needed to be built to keep up with the population growth, whilst the Tory’s new target since 2010 was a more modest 200,000 a year. However, since 2010, as a country, we have only been building between 140,000 and 150,000 houses a year. So where are we going to build these homes .. because we have no space! Or do we?
 
Well, let me tell you this fascinating piece of information I found out recently in an official Government report. Looking specifically at England (as it is the most densely populated countryof the Union), all the 20 million English homes cover only 1.1% of its land mass. That is not a typo, only one point one per cent (1.1%) of land in England is covered by residential property. In more detail, of all the land in the Country –
 
  • Residential Houses and Flats 1.1%
  • Gardens 4.3%
  • Shops and Offices 0.7%
  • Highways (Roads and Paths) 2.3%
  • Railways 0.1%
  • Water (Rivers /Reservoirs) 2.6%
  • Industry, Military and other uses 1.4%

.. leaving 88.5% as Open Countryside (and if you think about it, add to that the gardens, which are green spaces, and the country is 92.8% greenspace)
 
As a country, we have plenty of space to build more homes for the younger generation and the five million more homes needed in the next 20 years would use only 0.25% of the country’s land. Now I am not advocating building massive housing estates and 20 storey concrete and glass behemoth apartment blocks next to local beauty spots such as Middleton Hall or Middleton Lakes, but with some clever planning and joined up thinking, we really do need to think outside the box when it comes to how we are going to build and house our children and our children’s children in the coming 50 years in Tamworth. If anyone has their own ideas, I would love to hear from you.

    

In the meantime, if you would like to read other articles about Tamworth Property Market, please visit the Tamworth Property Market Blog 



Little Cracker – Tamworth B77 with 73.23% capital growth

It’s Friday and it’s Cracker Jack, or am I just showing my age! Anyway back to the topic of this little cracker in Lintly, Tamworth. With three bedrooms, this semi looks in lovely decor throughout and has the added bonus of a double glazed conservatory. Not sure if the vendor is leaving the hot tub, you can but ask.

Being advertised by our good friends Green & Co at a price of  £170,000 this property is in a superb location for all amenities including all motorway links.

The house last sold in 2011 at a price of £45,500, a whopping 73.23% in capital growth, who says there’s no money in the Property.

If you looking to rent you could easily expect £695pcm giving a respectable yield of 4.9%

   Rightmove……..            http://bit.ly/2bJliQs

If you are interested in this Tamworth home, give the agents a call, it’s sure to be snapped up.

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk
 

Don’t forget to visit the links below to view back dated deals and Tamworth Property News. 
 

 

 

Consent To Let – Tamworth Landlords, Do You Have It?


For many Tamworth homeowners, letting provides an obvious investment opportunity as an alternative to selling. With the right expert help from your letting agent, the matter should be quite straightforward, although there are certain consents that should be obtained if you are to avoid some potentially costly problems. 
You will certainly need the consent of your mortgage provider. They are unlikely to object, but you could be in breach of your mortgage terms if you have not obtained their consent before letting your property. They may also charge an “administration” fee. One important thing to check is that there is no clause that increases the interest rate on your loan should the property be used as a “commercial venture”.

 

If you own the freehold, you should check whether your title deeds impose any restrictive covenants of which the tenant should be aware. For example, there may be a restriction preventing anyone keeping a caravan on the forecourt, or storing building materials for more than a few days. If your property is leasehold, you will have to check the conditions of your lease as there may be similar restrictions and/or you may have to obtain the freeholder’s consent.

 

Importantly, once consent has been obtained, you must ensure that your tenant is aware of, and complies with, any obligations that you yourself would observe as owner in residence.

 

Finally, insurance. You should obtain permission from both your buildings and contents insurer. There may well be an increase in premiums where a property is let, although there are insurers who specialise in this. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property.

 

Please let us know if you would like us to look over your lease or title deeds to see what consents might be required to ensure your peace of mind for a successful let.  If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk

 

Don’t forget to visit the links below to view back dated deals and Tamworth Property News. 
 


  


Eye Candy – Coton Lane, Tamworth

We have a belting property in the Tamworth area for you to get your teeth into today. This impressive six bed Farmhouse is up for sale with a guide price of  £595,000, lovely eye candy for a Tuesday morning. 
My colleague Amy is raving about this house, so if it’s time for coffee, and you fancy a nose…. 
 
https://www.onthemarket.com/details/3064472/
 
 
If you can see yourself living in this little beauty, then give Mark Evans of Tamworth a call and book yourself a viewing.
 
 
 
Have you seen a property you like, not sure the figures add up? send details to me at Lorraine@hallandthompson.co.uk and I’ll give my honest opinion.
To read previous blogs click ...www.tamworthpropertyblog.co.uk

 

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85.9% of Tamworth Properties have 3 or more bedrooms – Problem or Opportunity?

The orthodox way of classifying property in the UK is to look at the number of bedrooms rather than its size in square metres (although now we are leaving the EU – I wonder if we can go back to feet and inches?). It seems that homeowners and tenants are happy to pay for more space. It’s quite obvious, the more bedrooms a house or apartment has, the bigger it is likely to be. The reason being not only the actual additional bedroom space, but the properties with more bedrooms tend to have larger / more reception (living) rooms. However, if you think about it, this isn’t so astonishing given that properties with more bedrooms would typically accommodate more people and therefore require larger reception rooms.

 

In today’s Tamworth property market, the Tamworth homeowners and Tamworth landlords I talk to are always asking me which attributes and features are likely to make their property comparatively more attractive and which ones may detract from the price. Over time, buyers’ and tenants’ wants and needs have changed. In Tamworth, location is still the No. 1 factor affecting the value of property, and a property in the best neighbourhoods, say Mile Oak or Dosthill can command a price nearly 50% higher than a similar house in an ‘average’ area. However, after location, the next characteristic that has a significant influence on the desirability, and thus price, of property is the number of bedrooms and the type (i.e. Detached/ Semi/Terraced/Flat).

In previous articles, I have analysed the Tamworth housing stock into bedrooms and type of property, but never before now have I cross-referenced type against bedrooms. These figures for the Tamworth Borough Council area make fascinating reading. It shows 85.9% of all properties in the area have 3 or more bedrooms.


 
Detached
Semi-detached
Terraced (including end-terrace)
Flat
1 bedroom
3
29
27
130
2 bedrooms
70
885
789
550
3 bedrooms
1,480
4,881
3,636
165
4 bedrooms
2,600
1,060
473
12
5 or more bedrooms
516
223
75
8
 
I was genuinely surprised at the low numbers of one and two bed properties, especially 2 bed semi detached houses, especially as tenants like the smaller one and two bed properties in Tamworth. You see, it might interest the homeowners and landlords of Tamworth, that there has been a change in the numbers of properties on the market and the split in bedrooms on the market over the last 12 months
 
·         12 months ago, 23 one bed properties were for sale in Tamworth, today 16, a drop of 30%
·         12 months ago, 79 two bed properties were for sale in Tamworth, today 73, a drop of 8%
·         12 months ago, 127 three bed properties were for sale in Tamworth, today 160, a rise of 26%
·         12 months ago, 54 four bed properties were for sale in Tamworth, today 75, a rise of 39%
·         12 months ago, 30 five + bed properties were for sale in Tamworth, today 20, a drop of 33%
 
For several years Tamworth buy-to-let investors have been the only buyers at the lower end (starter homes) of the market, as they have been enticed by high tenant demand and attractive returns. Some Tamworth landlords believe their window of opportunity has started to close with the new tax regime for landlords, whilst it already appears to be opening wider for first-time buyers. 
 
This is great news for first time buyers … but one final note for Tamworth landlords … all is not lost … you can still pick up bargains, you just need to be a lot more savvy and do your homework … one source of such information with articles like this is the Tamworth property market Blog

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk
 

Don’t forget to visit the links below to view back dated deals and Tamworth Property News. 


Buy to let Investment – Freville Close, Tamworth B79

Good morning, 

 
I’ve been trawling through the on line portals this morning and spotted this smart three bedroom house that would be ideal for investment purposes. This is being sold with no chain and is in a convenient locale for local shops, schools, Tamworth College and Tamworth Town Centre.
 
This area is popular with tenants as all amenities are on the door step. On to the house, the place is in very good all round condition and no builders quotes needed here, well maybe the front of the property may need a little spend.! otherwise just the compliance checks for making it letting ready. There are are 3 bedrooms, modern kitchen and bathroom  and small tidy gardens to boot. 
 
And the money side , well you can expect a rent of £695 per calendar month. Based on the guide price of £139,950 this will give you a yield of 5.9% , a nice tidy sum me thinks.  
 
On the market with Hunters Group in Tamworth. 
 
 
http://www.rightmove.co.uk/property-for-sale/property-61340711.html
 
Have you seen a property you like, not sure the figures add up? send details to me at Lorraine@hallandthompson.co.uk and I’ll give my honest opinion.
To read previous blogs click ...www.tamworthpropertyblog.co.uk
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Canal Views for the sailor in the family, Five Bed House Tamworth B77

A great deal at £269,950, this delightful five bed  family house overlooking the canal in Tamworth, has just come to the market, with Mark Webster . Check it out to see if it ‘floats your boat’ and if so, get in touch with the agents and book yourself a viewing!

http://bit.ly/2aQGNPw

http://bit.ly/2aQGNPw

This ship shape property is sure to be a big hit with families and sailors alike.

“Fair Wind”

If you would like any advice just drop me a line Lorraine@hallandthompson.co.uk or call 07531484956

www.tamworthpropertyblog.co.uk



If you would like any more information of just done general advice on buying a property to let, give me a call on 01245 330500.