Read about one of our portfolio landlords transforming a 2 bed terraced property on Greenall Road, Northwich.
From self-management to full management at Belvoir Lettings Agents Northwich
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The Situation
Marc is a long-standing client of Belvoir Letting Agents Northwich and he was looking to extend his portfolio and add some value to a buy-to-let property through renovation. He was also looking to have this next property fully managed to take the hassle out of day-to-day management.
The Client’s Objective
Marc’s objective was to source a property to renovate and install reliable tenants to achieve a decent yield. Below are some pictures from when he first acquired the property to give you some insight of what needed to be done:
Our Solution
The mission was to find reliable tenants as soon as possible as Marc had put a lot of time, effort and money into completing the project. You’ve also got to consider council tax on an empty property and so time was of the essence to find tenants in a timely manner. We initially pitched the property at £895 per calendar month but we had a few false starts at this rent level. We decided to drop it slightly to £875 per calendar month and we’ve now moved two happy tenants into the property.
What It Meant For Them
Marc was impressed with the finished result, and so were we. Take a look at the pictures below:
The Timing
The most important thing when you rent a property out is making sure your selection of tenants is as accurate as possible. Due to the few false starts and people enquiring but not meeting our strict criteria it meant that the property was empty slightly longer than we’d hoped but having dropped the price slightly we got much better leads.
The Value To The Customer
With the approach we took Marc is now maximising his rent so it’s the best yield has been achieved and wih long-term tenants. Not only this, we’re managing the property so he can relax knowing that it will be looked after. Time is money so Marc is able to concentrate his efforts elsewhere, maybe to look for that next buy-to-let…
Testimonial
“With owning several buy-to-let properties in the Northwich area already we decided it was time for our next purchase on Greenall Road which presented everything we were looking for.
After a short negotiation, the sale was agreed and the team set to work planning for the refurbishment. Once completion of the sale went through the guys transformed the property, and we knew from our long-standing relationship with the Belvoir team they’d find and manage the right tenants for us.”
Marc Evans, Landlord
