A landlord came into the office today. They have a small portfolio mainly of purpose built apartments. They noticed that some of their managmeent companies were increasing their charges. So were looking at cluster homes locally, and wanted to know our opinion.
Their concern that as there was no garden tenants might feel short changed. We stated that we have a number of these style properties, and felt that they were popular for that very reason. They tended to attract a variety of clients, including young couples and older professionals. Both who were not bothered about this.
However it is important to buy in the right place, As tenants are very discerning and want access to amenities and transport links.
As an example we highlighted this property in Poppyfields which was on the market for £105,000 and could achieve a rent of around £525 per month . Giving a return of 6%. He seemed keen on this property and went away to consider his options.
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