I often feature property at the entry price point. Studio’s, one beds and two beds are standard fayre in these parts, but some investors fancy something with a bit more meat on the bone, something to sink your teeth into…
Old School Road is in Hillingdon not far from our office here on Hillingdon Hill opposite the Red Lion, and close to Hillingdon Hospital and Brunel University. In fact on bike or foot there’s a nice cut through down the side of the Hillingdon Cemetery down to Kingston Lane.
Sat quietly on Old School Lane is this three storey town house which has six bedrooms. The pictures show me that the landlord takes his responsibilities to fire risk seriously, with a good alarm system and fire measures in place. This property is already let to students and this should be the market to continue to service. The students are paying on average £500pcm which totals £3,000 pcm. Hence the yield quoted on 7.5%. The selling price is £479,950.
However you will want to understand whether that rent achieved includes bills (which I will assume that it does) such as water, gas/electric. Students don’t pay council tax which can be a good saving for landlords (who have responsibility for paying this in HMO’s).
HMO’s are a more complex beast, that a single let where you let to a single person, two people or a family and require attention to legislation and management but can be rewarding for the work put in. Hence the higher yield that we see on single lets in the area which will average a couple of percentage points lower at circa 5.4%.
There is lots more to go over on this especially if you have not delved into HMO’s before. Always happy to talk this over!
Belvoir Uxbridge don’t sell property, we are lettings specialists, but we do guide people based on our experience as to what might make a good buy to let property investment in the Uxbridge, Hillingdon, Hayes and West Drayton area. We don’t charge for this service but we would like to manage your property or help you find great tenants.
