7 months ago

RAH Magazine March-April 18 final (1)

Blinco Grove £1,950pcm*

Blinco Grove £1,950pcm* • 4 bed mid-terraced house • Unfurnished • Located near Addenbrookes and train station • EPC Rating - E • Extended over three floors • Available NOW Hardwick £1,200 pcm* • 2 bed semi-detached cottage • Unfurnished • Popular village location • EPC Rating - D • Large garden to rear • Available 1st April Green Park £1,350 pcm* • 3 bed semi-detached house • Unfurnished • Close proximity to Science Park and north station • EPC Rating - D • Off-road parking for several cars • Available 12th April Great Eastern Street £1,330* pcm • 2 bed mid-terraced house • Unfurnished • Popular Mill Road area • EPC Rating - D • Retains many original features • Available 16th April LET LET LET LET LET LET Cross Street £1,275 pcm* Alpha Road £1,545 pcm* Earl Street £2,500 pcm* Portugal Place £1,895 pcm* Victoria Street £1,450 pcm* Devonshire Road £2,850 pcm* • 2 bed mid-terraced house • Within close proximity to city centre • Courtyard garden to rear • Unfurnished • EPC Rating - D • LET • 3 bed mid-terraced house • Central location • En-suite to master • Unfurnished • EPC Rating - D • LET • 4 bed mid-terraced house • Within walking distance to city centre • Extends over four floors • Unfurnished • EPC Rating - E • LET • 2 bed mid-terraced house • In the heart of the City Centre • Refurbished to high standard • Unfurnished • EPC Rating - E • LET • 2 bed mid-terraced house • Walking distance to city centre • Finished to a high standard • Unfurnished • EPC Rating - E • LET • 5 bed end-terraced house • Close proximity to train station • Student property • Furnished • EPC Rating - E • LET 42 43

Renting out property It’s a business not a love affair 5 No one loves a cheap skate. It’s fair to say that you will very likely be financially better off in the long term by spending more at the outset. It doesn’t have to be “highend”, just reasonably good quality. For example, when buying paint 7 Another thing to consider when initially kitting out your property is the decor, carpets, curtains et cetera. In general terms neutral colours usually work best since they appeal to the masses. And they’re easy to coordinate with when you’re new go for a good brand like Dulux as tenant wants to “make it their home”. opposed to your local DIY store’s Unless you’re a bit of an expert at own brand. A brand like Dulux will interior design, it’s probably best to last much longer and stand up keep it neutral. to things like cleaning off scuffs; unlike cheap imitations which will invariably wash off with the scuff! 1 If you’re interested in the buy to let business for the sake of investment and financial gain, then it’s important to “keep it strictly business”. Don’t take a viewer not wanting to move in personally or get annoyed when a tenant decides to move out. 3We know you’ve heard it before but location, location, location. Tenants, especially busy professionals, love a good location. It needs to be convenient to transportation (the nearer to a train station the better) as well as shops and increasingly cafes and coffee shops. And if it’s convenient to schools, green spaces, restaurants, cinemas or the theatre then even better. When making your purchase discard the 2 things that might be attractive to you if you were going to live in the property. What matters is selecting a property that will be attractive to the masses. 4 When you rent out your property ensure that it’s fitted out to a good standard. Good quality fittings will not only attract good quality tenants, they will also attract better rental values. And as the years go by you will find yourself spending less on repairs and upgrades. Be warned though we’ve seen many a landlord pay dearly for cheap fittings/materials and/or cheap labour. 6Another example is washing machines. Buy a cheap washing machine (let’s face it, you can get them very cheap these days) and don’t be surprised if you only get a year or two out of it before you’re spending on (not so cheap) repairs. Spend a bit more on something like a Bosch and you can typically expect to get 10 years out of it – and probably with no repairs at all. The Bosch certainly works out cheaper in the long run, so works out far cheaper! It’s also a better machine and more of a pleasure to use, and tenants appreciate these things. (And we all love not having to arrange a time to let engineers in to carry out repairs and wait in for them.) 8Be extra careful when buying leasehold 10 property. Check the terms of the lease very carefully. And be even more careful about buying “new builds”. Especially if they are brand new. We see so many problems with bad workmanship that landlords are left to deal with. We have clients who have spent Use a professional ‘match maker’. months in frustration at trying to get the Finding the right tenants for your builders to put right problems. property can be time consuming and stressful. By using an experienced letting agent to find and vet tenants you’ll make your life a whole lot easier. You will also benefit from their Keep on top of the financial side of things. 9 expertise and advice. One idea is to have a totally separate bank account for your property dealings where payments in and out can be easily accounted for. Ideally have three months worth of rent in the account at all times to cover unexpected costs, repairs and voids. 44 45

RAH Magazine April 18 final (single) 1
63 OXGANGS ROAD, EDINBURGH EH10 7DB - Stuart & Stuart
18 Killiney Avenue 4pgr_WEB.pdf -