This is a question new and experienced landlords alike will ask us as even the experienced landlord will know that the number of enquiries we receive from potential tenants means that we know first-hand what is in demand from tenants.
This morning I was contacted by one of our overseas landlords who has inherited a part share in a 2 bedroom house in Dunstable. The question was should they buy the share owned by the other family members and keep it as an investment property that we would rent for them, or should they sell with the intention of maybe buying a flat in the future ?
As an investment property a 2 bedroom house is by far the most sought after in Dunstable. In fact I would say we have the same amount of enquiries for 2 bedroom properties as we do for all the others put together. A good 2 bedroom house in Dunstable will rent for anywhere between £750 and £825 and recently we have rented one at £875pcm to a couple with 2 small dogs. Responsible pet owners will pay above the market price for a property that is suitable for their needs and is a long term rental as they know it will be difficult to find another property. We are members of ‘Lets with Pets’ and more information can be found here www.letswithpets.org.uk
To make a 2 bedroom house work as an investment you should be looking to purchase at around £170,000. They do exist but are snapped up very quickly.
If you are looking for a an investment and have decided a 2 bedroom apartment is your choice there are a number to choose from and a range of prices from £100,000 to £150,000 depending on age and condition, but a good condition modern apartment at around £135,000 should be your target unless you are willing to carry out some work.
An unusual one at the moment is a 2 bedroom apartment in Watling Gardens in Dunstable on the market with Robinsons at £124,995 with no chain. This apartment was built about 10 years ago and similar ones in the same development are on the market at £140,000+.
If you would like any advice on the demand for different types of property or in which areas of Dunstable you should invest call Belvoir Dunstable on 01582 343209 or email Daniel Bourke daniel.bourke@belvoirlettings.com
