Karen was looking to add to her property portfolio with something that would be sought-after and on the outskirts of Congleton town centre.
Case Study:Meadowfield Crescent
The Situation
Karen acquired the property through a reputable local Estate Agent and wanted a dedicated lettings agent to find a suitable tenant as shortly after completion as possible.
The Client’s Objective
The clear objective was to find a long term tenant that was going to enjoy the property and the local amenities of Astbury. As it is a buy-to-let property the goal is to earn a decent return on the purchase price whilst having a property that is relatively low maintenance. At the time of purchase the property was 10 years old.
Our Solution
The key to Belvoir’s success was good marketing, so we took professional photos and did an accompanying video to not only showcase the property but to talk about the local area.
Please click below to watch our video tour of Meadowfield Crescent.
What It Meant To Them
Although we didn’t achieve the £1,200 per calendar month rent we intended, the first tenancy was agreed at £1,100 per calendar month for an initial 12 month tenancy. On a purchase price of £320,000 this represents a solid 4.1% gross rental yield. The scope for capital appreciation is good too. And, of course, the rent can be increased in line with prevailing inflation after 12 months.
The Timing
From purchase completion on 4th November 2022 a tenant was installed on 9th January 2023 so, given the time of year, was a very good turnaround to help keep the void period to a minimum.
The Value To The Customer
It was important for Karen to get a reliable tenant installed with little fuss in a short a time as possible to start earning on her investment. We had a few viewings initially but the tenant we selected fitted our strict criteria the best and wanted it with a view to long term. Any property investor will tell you that the two most important things are that the rent is being paid and void periods are no longer that what’s absolutely necessary.
Quote From Client
“This is my first Letting with Belvoir and they have delivered at every stage of the process. They provide a timely professional service and it has been a pleasure to work with them. I am very confident that they will continue to support me in the future.”
