tag:blogger.com,1999:blog-69831899703225135922024-03-21T08:42:02.463-07:00Weymouth PropertyArticles and news about Weymouth, Portland and Dorchester Property Lettings and Sales MarketAnonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.comBlogger46125tag:blogger.com,1999:blog-6983189970322513592.post-26067172904431895412015-08-24T08:07:00.001-07:002015-08-24T08:07:54.140-07:00<h3 class="widget-title" style="background-color: white; border: 0px; box-sizing: border-box; color: #333333; font-family: 'Roboto Slab', sans-serif; font-size: 24px; line-height: 36px; margin: 0px 0px 30px; padding: 0px; text-transform: uppercase;">
SAY NO TO GEORGE</h3>
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You may have heard about the Chancellor’s Summer Budget Proposal where he aims to restrict mortgage interest relief for Private Landlords. It’s a bit of a mouthful we know, but what is important are the consequences of this change and how it affects you, your family, the people you deal with and the economy of the country as a whole.</div>
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The Chancellor says that what a Landlord is paying for the interest part of a monthly mortgage should not be allowed as a business cost. He calls it a tax break but in most cases it is a Landlord’s biggest expense on a property and is most definitely a business cost.</div>
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It’s a bit like the Chancellor deciding that a baker can’t offset the cost of his flour against his income. His flour is most definitely a business cost and is rightly allowed as such.</div>
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He says that mortgage interest rate relief was abolished for homeowners years ago so wants to ‘level the playing field’. However he is forgetting that homeowners are not subject to Capital Gains Tax when they sell a property (but Landlords are) and private rented property provides homes for nearly 4 million people and Landlords pay tax on the rental profit they make.</div>
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It’s not just us this saying this. Many experts, including the Institute of Fiscal Studies say the Chancellor’s ‘line of argument is plain wrong’.</div>
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If you want to have your say and vote against Mr Osborne’s proposed changes please sign the <a href="https://petition.parliament.uk/petitions/104880">petition</a>.</div>
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Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-34942334208338421692015-06-29T03:17:00.002-07:002015-06-29T03:17:11.942-07:00Tenants-the unknown varaiable?<div class="WordSection1">
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<b><span style="background: white; font-family: Arial, sans-serif; font-size: 14pt;">Property is a hard structure. It’s not emotional.
It will stand for 30 years or more come rain and shine and still perform for
you providing you service it and look after it.
Repairs are quantifiable and most can be planned for but your Tenants
are an unknown.</span></b><b><span style="font-family: Arial, sans-serif; font-size: 14pt;"><br />
</span></b><span style="font-family: Arial, sans-serif; font-size: 14pt;"><br />
<span style="background: white;">They are human and not so
fixable as a boiler or a dripping tap. In the 30 years they get upset / get
drunk / lose jobs / split up from partners / become violent / get depressed.</span><br />
<span style="background: white;">They may wear a suit and speak well when you first
meet them. That is because they want your house. But you literally only scratch
the service when you meet them and on that basis you entrust them to live in
your £100,000 asset AND you also trust them to pay you maybe 7K a year in rent
to do so. Scary. <o:p></o:p></span></span></div>
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<span class="apple-converted-space"><span style="background: white; font-family: Arial, sans-serif; font-size: 14pt;">This is where a good agency comes in. A good agency will do due diligence and checks
and discuss potential tenants with you.
They will periodically inspect your property to make sure that there are
no issues that your tenants have forgotten to tell you. They will find out if a tenant has a bad
credit file or has mistreated a house before. Martin and Co even monitor tenant’s credit
files as the tenancy continues so that you are aware of potential problems
earlier. They will have condition reports on file on the property when your
tenants move in and out. Get reliable
tenants, cut the voids and maximise your return-come to Martin and Co.!!<o:p></o:p></span></span></div>
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<span class="apple-converted-space"><span style="background: white; font-family: Arial, sans-serif; font-size: 14pt;">Martin and Co will cut your stress when renting out
your property. </span></span><span style="font-family: Arial, sans-serif; font-size: 14pt;"><br />
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</span>Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-50867650358169816402015-06-19T01:46:00.001-07:002015-06-19T01:46:47.174-07:00Two conflicting headlines this week!<div style="background: white; line-height: 17.25pt; margin-bottom: .0001pt; margin: 0cm;">
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 16.0pt;">Two conflicting
headlines this week!<o:p></o:p></span></div>
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<b><i><span style="color: #333333; font-family: "Arial","sans-serif";">House prices have shot
up to record highs after the Conservative election victory triggered a rush to
buy in an overcrowded market. Telegraph16/06<o:p></o:p></span></i></b></div>
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<b><i><span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The UK property market slammed into a brick wall in
April, with annual house price growth suffering its biggest slowdown for a
decade. Telegraph 17/06<o:p></o:p></span></i></b></div>
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<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">What are we supposed to make of this?
Statistics of course can be used to prove all sorts of things to all men
but what do these conflicting statements mean to us in Weymouth and
Dorchester? Because the London market is
so instant and the sums so large it does skew the figures dramatically and is
not a true reflection of what is happening in other parts of the country. Moral of the story: take all national statistics with a pinch of
salt!!! A solution is at hand though-<o:p></o:p></span></div>
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<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Martin and Co have produced a Market Review and although not Dorset
based it is ‘Southern UK’ based so is relevant to our area much more so than the
reports put out in the national press.<o:p></o:p></span></div>
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<span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: Arial, sans-serif; font-size: 12pt;">The report contains in-depth data and analysis of the local
region in terms of buy-to-let and the private rental sector. </span><span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Interesting statistics and figures
from our national marketing report include the fact that the return from a
buy-to-let investment can reach as high as 9.0% in our area. Furthermore, in
six out of nine Martin & Co regions, the returns from net rental income
exceeded annual income from taking an annuity.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The hope is that this regional report will give Martin & Co offices
and customers a real insight into how their local property market is behaving</span><span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">.</span><span style="color: #333333; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
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<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">If you would like a copy please drop into the office in St Thomas Street
and pick one up or go to our blog at http://macweymouth.blogspot.co.uk/<o:p></o:p></span></div>
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Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-67967630188635541012015-06-15T09:15:00.002-07:002015-06-15T09:15:21.091-07:00Helping you make up your mind about BTL as an investment<div class="MsoNormal">
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<b><span style="font-family: "Arial","sans-serif"; font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">PRESS
RELEASE<o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">FOR
IMMEDIATE RELEASE/ 15/06/2015<o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-bidi-font-size: 12.0pt;"> <o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt;">Martin & Co
publish regional Marketing Intelligence reports<o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">Report confirms the net total return
that can be made from a buy-to-let investment in the Southern England region
can reach 9.0%<o:p></o:p></span></b></div>
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<span style="font-family: "Arial","sans-serif";"> <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">Martin
& Co [office name] have published their 2015 Marketing Intelligence Report
for the South of England, as part of their national campaign to compare
property with other types of investment.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">The
report contains in-depth data and analysis of the local region in terms of buy-to-let
and the private rental sector.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">For
example, a buy-to-let investment of £100,000 in the Southern England region in
2005 would be worth £134,013 today. Furthermore, annual rental income can reach
£4,700, which outperforms income from an annuity (£4,500) by 2%. This does not
take into account the potential for capital growth, which is consistently on
the up since the end of the recession.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">The
average increase in the cost of property in the region over the last ten years
was 34%, with a rent increase of 8.3% in the South East and 6.4% in the South
West since 2011.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">The
average rent tenants are willing to pay in the region is £960pcm.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">It
is figures like these that support Martin & Co’s belief that buy-to-let is
an increasingly viable method of investment, especially following April 2015’s
pension reforms.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">The
regional marketing reports come in response to a national report compiled by
Martin & Co last year.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">Interesting
statistics and figures from our national marketing report include the fact that
the return from a buy-to-let investment can reach as high as 13.2%.
Furthermore, in six out of nine Martin & Co regions, the returns from net
rental income exceeded annual income from taking an annuity.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">The
hope is that this regional report will give Martin & Co offices and
customers a real insight into how their local property market is behaving.<o:p></o:p></span></div>
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<b><i><span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">‘Philip
Wakefield, owner at Martin and Co Weymouth, said he hopes that this report,
together with other material available from the office, will together help
landlords come to informed buying decisions when looking for their next
investment’</span></i></b><span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;"><o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt;">These
statistics are available as part of the national marketing report, and copies
of the regional report can be requested by getting in contact with your local Martin
& Co office, of which there are 24 in the Southern England region.</span><b><span style="font-family: "Arial","sans-serif";"><o:p></o:p></span></b></div>
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Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-80040354255195907152015-06-10T03:29:00.001-07:002015-06-10T03:29:52.239-07:00Landlords - Are you getting ripped off??<div class="MsoNormal">
<b><span style="font-size: 14.0pt; line-height: 107%;">Landlords - Are you getting ripped
off??<o:p></o:p></span></b></div>
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A large major London agent is facing a group claim against
it for charging inflated amounts for run of the mill maintenance jobs. Landlords have grouped together to bring the
claim against Foxtons , one of the major Lettings agents in London.<o:p></o:p></div>
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How does that affect us down in Weymouth, Portland and
Dorchester? Well in fact it is quite
common practice among agents to add not inconsiderable amounts to contractors’
bills when they are charged out to Landlords.
Even if Landlords have sight of the original invoice this will not give
the game away as contractors are contracted to give ‘cash backs’ to the agents.<o:p></o:p></div>
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If the contractor is VAT registered it can mean that you the
Landlord are paying in excess of 50% more for simple maintenance jobs than is necessary.<o:p></o:p></div>
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My message here is simple, Martin and Co, Weymouth never
have or will add any service charge to contractors’ bills. The price you pay is what the contractor
gets.<o:p></o:p></div>
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Quite simply our intention is to keep costs to Landlords as
low as possible whilst keeping your property in tip top condition and having
happy tenants.<o:p></o:p></div>
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Next time you speak to your agent ask them how much they add
to your contractors bills?? Then come and speak to us.<o:p></o:p></div>
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This is the link to the original article: <o:p></o:p></div>
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<a href="http://www.propertyindustryeye.com/landlord-tells-foxtons-on-fees-you-picked-the-wrong-one/">http://www.propertyindustryeye.com/landlord-tells-foxtons-on-fees-you-picked-the-wrong-one/</a><o:p></o:p></div>
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Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-26711489589512979272015-06-03T04:36:00.003-07:002015-06-03T04:36:50.993-07:00<h1>
Buy to Let, Madam!<o:p></o:p></h1>
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This week I would like to talk about a property we have taken on to sell that
offers a very good investment opportunity to a buy to let investor. </h3>
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A two bedroom flat, around 6 years old, on
offer at £135,000.00 that would rent out at £650 per month and show a 5.77%
return if you purchased for cash. </h3>
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It
has <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2u-5_LWG03zVLQF_Ni_u22W0dbrktlzwmpjIC_YzLqLhNv5oPqrw_HE8HYH1RZhrpXyXZHWn-B2feGNLz0SVwQdkgIvNrIB_jZeDroRNE5i_VnPfF5uj_wOQgWYJNzmoWR9xNf0TC-d0/s1600/HOLZ.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2u-5_LWG03zVLQF_Ni_u22W0dbrktlzwmpjIC_YzLqLhNv5oPqrw_HE8HYH1RZhrpXyXZHWn-B2feGNLz0SVwQdkgIvNrIB_jZeDroRNE5i_VnPfF5uj_wOQgWYJNzmoWR9xNf0TC-d0/s320/HOLZ.jpg" width="240" /></a> allocated parking and with the current demand
for good quality flats being very high this will not hang around for long (to rent or to buy!!) </h3>
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<br />The perfect armchair investment and even if you put down a 25% deposit and
borrowed the remainder on a buy to let mortgage (currently available at from
2.49%) you could expect to make nearly <u>10% return on investment after taking
into account all expenses</u>. Please
refer to our Buy to Let spreadsheet available from our office to work out
figures for different properties.<br />Call us to arrange a viewing.</h3>
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<o:p></o:p></h1>
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Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-60443403660987466712015-05-27T03:08:00.002-07:002015-05-27T03:08:36.116-07:00How can you find a good property deal in Weymouth , Portland or Dorchester?<div class="MsoNormal">
<b><span style="font-size: 16.0pt; line-height: 115%;">How can you find a good property deal
in Weymouth , Portland or Dorchester?<o:p></o:p></span></b></div>
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<b><span style="font-size: 14.0pt; line-height: 115%;">I was talking to a one of our
landlords the other day, when he explained that there were no property bargains
for him to buy in Weymouth or Dorchester.</span></b><span style="font-size: 14.0pt; line-height: 115%;"> </span></div>
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<span style="font-size: 14.0pt; line-height: 115%;"> <o:p></o:p></span></div>
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<span style="font-size: 14.0pt; line-height: 115%;">Now, none of
us can look at a property and say ‘thats a bargain’ without doing some research
so I looked at some properties that have
actually ‘been’ bargains for their new owners and conversely cost their
original owners quite a bit of cash.<o:p></o:p></span></div>
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<span style="font-size: 14.0pt; line-height: 115%;"><br /></span></div>
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<span style="font-size: 14.0pt; line-height: 115%;">A flat in
Oakbury Drive sold for £157k in December 2008.
In Jan 2015 it sold for £132k , a nearly 16% drop in price over 7 years! Another at Nautica in St Albans Street,
Weymouth has just sold for £115k and originally cost the owner £130k in March
2010 nearly 12 % higher.<o:p></o:p></span></div>
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<span style="font-size: 14.0pt; line-height: 115%;">Similarly, a
three bed house in Chickerell Road has just sold for £159k, £10k less than it
was bought for in 2011.<o:p></o:p></span></div>
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<span style="font-size: 14.0pt; line-height: 115%;"><br /></span></div>
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<span style="font-size: 14.0pt; line-height: 115%;">The price of
property varies on whether you have a motivated seller or canny buyer and it is
still possible to pick up a bargain wherever you are. Only research can tell you how much of a
bargain it is.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 115%;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 115%;">Whether you
are a Landlord of ours or not, drop by our offices at the top of St Thomas Street
if you would like any advice or help finding out this kind of information.<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-55704684970027459782015-05-19T04:44:00.001-07:002015-05-19T04:44:24.227-07:00Weymouth Property –Do you know the facts and Figures?<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>Here at Martin and co, we can guide
you to the right place to identify property values and yields in Weymouth and
other useful property related information so you can make sure you get all the information
you need about your future investments.
Here are a few property facts about our town of Weymouth……<o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
There are 880
streets in the DT3 and DT4 postcodes with 30084 households. Just 15% of those have changed hands since
2005<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Compared to
the national average the DT3 and DT4 areas of Weymouth have 19% more detached
houses, 34% fewer Semi detached houses, 5% more terraced houses and 10% more
flats. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In our area <span style="background: white;">Detached Houses make up the most significant portion of the housing
stock,representing 38% of the total. This is 19 % more than the national
average</span><o:p></o:p></div>
<div class="MsoNormal">
<span style="background: white;"><br /></span></div>
<div class="MsoNormal">
In the DT3 area <span style="background: white;">flats
account for the lowest percentage of the housing stock in this district, at
only 9.42% This more than doubles in the DT4 area<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background: white;"><br /></span></div>
<div class="MsoNormal">
<span class="apple-converted-space"><span style="background: white;">Some 15% of property
in the DT3 area is privately rented and 25% in the DT4</span></span><span style="background: white;"> <o:p></o:p></span></div>
<div class="MsoNormal">
<span class="apple-converted-space"><span style="background: white;"><br /></span></span></div>
<br />
<div class="MsoNormal">
<span style="background: white;">These </span>are all good indicators that Weymouth is a good place to
buy property in and show it to be<span style="background: white;"> an area with a high
proportion of property suitable for families with children. </span> If you would like more useful facts and
figures or advise on where to buy pop in to see us at our Office or call 01305 775504 and speak to Phil<o:p></o:p></div>
Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-15230408725282344922015-05-13T03:53:00.001-07:002015-05-13T03:53:04.534-07:00Continued growth in Buy to Let? Now the election is out of the way the path is set for new and existing Landlords ......................<div style="background: white; line-height: 16.5pt; margin-bottom: 11.25pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<b><span style="color: #555555; font-family: "Helvetica","sans-serif"; font-size: 10.0pt;">Now
the election is out of the way the path is set for new and existing Landlords
to invest in property to rent. With the
tinkering of the private rental sector as promised by Labour no longer a threat
Landlords will continue to invest and potential
tenants will be secure in the knowledge that good quality lets will continue to
be available</span></b><span style="color: #555555; font-family: "Helvetica","sans-serif"; font-size: 10.0pt;">.<o:p></o:p></span></div>
<div style="background: white; line-height: 16.5pt; margin-bottom: 11.25pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #555555; font-family: "Helvetica","sans-serif"; font-size: 10.0pt;">In addition a lot of people
aged 20-45 (57%) are forgoing making savings for a house, and are instead
looking at renting. This is also reflected in the fact that homeownership is at
its lowest level in 29 years, especially among young people, and this number
may continue to decrease in the coming years.<o:p></o:p></span></div>
<div style="background: white; line-height: 16.5pt; margin-bottom: 11.25pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #555555; font-family: "Helvetica","sans-serif"; font-size: 10.0pt;">This isn’t necessarily a
bad thing – but a positive reflection of the trend of<span class="apple-converted-space"> </span><i>wanting</i><span class="apple-converted-space"> </span>to rent. It is seen as a secure
option, but still allows ‘serious’ renters to live in a house they can
essentially call their own. There is no reason to see this trend changing any
time soon. If government does what it
has promised and builds much needed housing some of these will become available
to new tenants. More and more people
will be looking to rent, which means that landlords will face no shortage of
tenants to choose between when it comes to letting their property.<o:p></o:p></span></div>
<br />
<div style="background: white; line-height: 16.5pt; margin-bottom: 11.25pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm;">
<span style="color: #555555; font-family: "Helvetica","sans-serif"; font-size: 10.0pt;">Martin & Co is a lettings
specialist operating from 282 offices around the UK. If you would like any
information on how we find you the best tenants for your property, please
contact your local office in Weymouth and ask to speak to Angela, Laura or Phil<o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-36819612117665680362015-05-05T05:29:00.001-07:002015-05-05T05:29:41.753-07:00Work out your BTL returns using my FREE spreadsheet<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>Following on from my article
about where to invest pension cash a couple of weeks ago I had a couple come
into the office on Friday with just such a question! They were in the fortunate position to have
cash to invest for income and we discussed the options about types of property
that would be best. <o:p></o:p></b></div>
<div class="MsoNormal">
I have put together a spreadsheet that works out your return
on investment on any property when rented out.
You can import your mortgage costs, maintenance, agents fees etc
together with the cost of the property and the cash available and it will show
you your actual return together with percentage figures for your returns.<o:p></o:p></div>
<div class="MsoNormal">
If anybody would like a free copy of this please call me
with an email address or email me on <a href="mailto:philip.wakefield@martinco.com">philip.wakefield@martinco.com</a>
and I will send a copy with my compliments. <o:p></o:p></div>
<div class="MsoNormal">
What type of property did we discuss? Two and three bedroom family houses are in
high demand and we are getting between 10 and 20 requests for viewings on these
and letting them almost instantly so a bit of a no brainer. We put together some examples (from other
agents as well!) and they went off viewing.
<o:p></o:p></div>
<div class="MsoNormal">
I am happy to spend time with any potential or experienced
landlord to investigate what you would like to achieve and work out a business
plan to achieve it - with no
obligation! Please call me.<o:p></o:p></div>
<br />
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/16470971287196821879noreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-43906294152709966852015-04-28T08:30:00.003-07:002015-04-28T08:30:55.598-07:00Cost effective maintenance<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>Maintenance of rented
property is a large part of our business and it is a part that can often go
badly wrong usually through poor communication and missed messages. Here at Martin and Co we have a dedicated
maintenance manager whose job it is to take calls from tenants, decide on the severity of the issue, check
with the landlord and instruct a contractor to fix the problem .<o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
Kelly is very capable on all these fronts as those who have
had dealings with her will know but we are always looking for innovative new
ideas to save us time in the office and make our service more reliable. We are currently trialling a new web based
maintenance system that should do all of the above and more. When a tenant has a maintenance issue to
report, instead of getting on the phone to us they can access a web page and
report the issue online. Kelly will
receive an email with all the details and be able to discuss the issue with the
landlord and get a contractor to visit.
The system has a series of question and answer routines which try to get
the tenant to solve their own problem saving them time and the landlord money
on an abortive callout charge. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Such things as boiler pressure low and trip switches going
off will no longer need contractors visits and the website system has been
proved to reduce callouts by 18% or nearly 1 in 5.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
This is just one of many ways that Martin and Co go the
extra mile to maximise the return a landlord can make on her property. Please call us if you have a property to
manage. Cashback available.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
Ps Martin and Co DO NOT mark up contractors invoices on any
jobs.<o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-33758728956229273952015-04-22T05:02:00.004-07:002015-04-22T05:02:49.210-07:00A buy- to- let with your pension?<div class="MsoNormal">
<span style="font-size: 18.0pt; line-height: 107%;">A buy- to-
let with your pension?<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 18.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 18.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<b>A number of people
have come into the office recently enquiring about investing their pension
money in a buy to let property. The new
rules regarding the cashing in of your
pension pot can hardly have escaped anybody in that thoughtful position
recently. Should I take it out and
invest?<o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
The answer varies wildly of course depending on your
attitude to risk etc. but I have worked a small example below. We are always happy to discuss individual
cases so if this is of interest please come into the office for a chat <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
If your pension is worth £200,000.00 then you can release
£50,000.00 tax free<o:p></o:p></div>
<div class="MsoNormal">
Purchase 2 bed property in Weymouth area for £160k – with a
mortgage of £11000.00. The cost of the mortgage
would be £210 per month at 2.29% (currently available on interest only). After you have taken into account agent’s
fees for full management you would generate a yield on the cash invested of
£413.00 per month or 9.9% per annum- quite a lot better than most savings
accounts!!<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
If your pension pot is smaller than this then there may be
tax implications and the return could be less but still worth thinking about!<o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-79923648900386351562014-12-04T08:39:00.000-08:002014-12-04T08:39:04.427-08:00Who can really afford to buy a house these days?<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br />
<!--[if !supportLineBreakNewLine]--><br />
<!--[endif]--><span style="background: white;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The easiest way to judge the affordability of
property within an area is to look at the ratio of the average property price
to the average salary. In Weymouth, DT4
the average price is £211k for a three bed house whilst the average salary is
£21,237. This is a ratio of 8.83. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">In Dorchester the affordability ratio is 9.74,
meaning property is slightly less affordable.
No surprise there then but perhaps the issue is not this measure of
affordability but the other.
Deposit!! A 5% deposit is in the
order of £15/20k <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Tenants’ inability to raise that sort of money is
driving demand for rental property, something we see every day in this
office. If you would like some advice
about buying to let, where to buy, what to buy, what lets best or quickest do
come by for a chat at the Martin and Co office at the top of St Thomas Street
in Weymouth.</span><o:p></o:p></div>
<br />
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-30814494830181191822014-12-01T00:49:00.001-08:002014-12-01T00:49:09.082-08:00BTL? Do your sums!<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 107%;">A nice two
bed flat overlooking the harbour is going to cost in the region of £200,000 and
return around 4.2% whilst a two bed house in Sandpiper Way will cost £165,000 and
return 4.7%. This may not sound a lot of
difference but actually represents a 12% better return. </span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 107%;">When you take into account the block
management costs of a flat, which can amount to the equivalent of two months’
rent you are looking at a 34% better return.
Both properties will rent well and quickly but this does show how
important it is to do the sums when investing in a BTL.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 107%;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 107%;">Add on the
fact that the two bed in Sandpiper Way is around £35000 less money to start
with and it becomes obvious where the sensible money goes. Of course not all BTL investors are only
interested in the return and may have other reasons to buy a flat with a poorer
return but in a nicer position.<o:p></o:p></span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-73570708864852249512014-11-13T08:12:00.002-08:002014-11-13T08:12:41.438-08:004 things to avoid when investing in property<div class="MsoNormal" style="background: #EEEEEE; margin-bottom: .0001pt; margin-bottom: 0cm; mso-line-height-alt: 13.65pt;">
<br /></div>
<div class="MsoNormal" style="background: #EEEEEE; margin-bottom: .0001pt; margin-bottom: 0cm; mso-line-height-alt: 13.65pt;">
<span style="color: #444444; font-family: 'Trebuchet MS', sans-serif; font-size: 14pt;">When investing in property, it’s easy
to get it wrong. You make your money when you BUY a property, not when you sell
it. If you buy sensibly, you can expect to sell sensibly if you need to.</span></div>
<div class="MsoNormal" style="background: #EEEEEE; margin-bottom: .0001pt; margin-bottom: 0cm; mso-line-height-alt: 13.65pt;">
<span style="color: #444444; font-family: 'Trebuchet MS', sans-serif; font-size: 14pt;"><br /></span></div>
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "Trebuchet MS","sans-serif"; font-size: 10.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Try to avoid:</span><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "Trebuchet MS","sans-serif"; font-size: 10.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "Trebuchet MS","sans-serif"; font-size: 10.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">•overpaying. Once you’ve established
you can buy a nice 2 bed property in a given area for £X, don’t pay £X + £5,000
</span><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "Trebuchet MS","sans-serif"; font-size: 10.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">•being put off by properties that
need work, as these are often the best buys. But DO ensure this is reflected in
the price. If it’s £X for a nice one, its £X minus £7,000 for one that needs a
kitchen and bathroom.</span><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "Trebuchet MS","sans-serif"; font-size: 10.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">•being unrealistic. If you’re buying
where flats rent for £550.00, don’t expect yours to rent for £600.00 because
you will paint it – expect it to rent for £500.00 if you don’t paint it!</span><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "Trebuchet MS","sans-serif"; font-size: 10.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">•missing something obvious! Don’t buy
a family house that has no garden, or no parking. Families need gardens and
parking spaces.</span><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: #EEEEEE; line-height: 13.65pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
Philip Wakefield Property File</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-12201170651520508712014-11-07T08:11:00.003-08:002014-11-07T08:11:35.095-08:00Online or Traditional Agency?<div class="MsoNormal">
<b><span style="font-size: 22.0pt; line-height: 107%;">Online or Traditional Agency-which
gives you the best chance?<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b><span style="font-size: 22.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal">
<b>The arguments are
raging at the moment over which is the best medium through which to sell your
house. Online or Traditional. Here are some statistics from Zoopla.</b> <o:p></o:p></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
It shows 3471 properties were listed for sale in the DT1-5
area from Jan 1<sup>st</sup> to November 6<sup>th</sup> 2014. and 592
are listed as sold subject to contract during that period.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The online only companies list 34 properties of which 3 are sold subject
to contract<o:p></o:p></div>
<div class="MsoNormal">
Online agencies have therefore sold 8.8% of their listed
stock compared to 16.9% sold by traditional agencies.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Admittedly the area sampled is limited but is relevant to
our locality and is certainly something to consider when choosing how to
market you property<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
Martin and Co offer both services from their offices in St
Thomas Street in Weymouth giving you the best of both worlds. The
cost saving associated with online agencies and the service and help that only
a local office can give and also the flexibility to move from Online only to a
fully fledged Traditional Service at any point through the sales process.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Philip Wakefield</div>
<div class="MsoNormal">
Martin and Co Weymouth 01305 775504 philip.wakefield@martinco.com</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-30149051863569784292014-10-31T09:06:00.001-07:002014-10-31T09:06:03.699-07:00November Offers<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-size: 26.0pt; line-height: 107%;">Sell your House for </span></b><b><span style="font-size: 28.0pt; line-height: 107%;">0.65%</span></b><b><span style="font-size: 26.0pt; line-height: 107%;"> Agents Commission with Martin and Co<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-size: 26.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">Martin and
Co in Weymouth are better known for lettings than sales but all that is going
to change now. We have many existing
landlords who are looking to expand their portfolio and do not mind if the
property they are looking at is tenanted or not so coupled with the offer to
sell for only 0.65% commission now could be the time to call us for a valuation.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">For </span><b><span style="font-size: 16.0pt; line-height: 107%;">Landlords </span></b><span style="font-size: 14.0pt; line-height: 107%;">we
have our cashback offer currently running which offers landlords who currently
have property that is let to receive substantial cashback if they bring
management of their property to Martin and Co. Please call 01305 775504 for details.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">BREAKING
NEWS -TAKEOVER of </span><span lang="EN" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-hansi-font-family: Calibri;">Legal & General’s
Franchise Business</span><span style="font-size: 14.0pt; line-height: 107%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN">Your local Martin & Co office is now part of one of the biggest
property businesses in the UK. An additional 89 offices have joined the Martin
& Co Group of Companies, creating a lettings and estate agency chain of 283
offices stretching from Dover to Aberdeen, with 46 offices in London alone! <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN">The Group now manages a staggering 43,000 tenanted properties,
approximately the same size as Rugby! </span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN"><br /></span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN">As part of the transaction, which was
announced on the London Stock Exchange on Friday 31<sup>st</sup> October,
Martin & Co will in future be offering ‘whole of market’ mortgage advice
through an agreement with Legal & General. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN"><br /></span></div>
<br />
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN">Martin and Co, Weymouth Franchise owner had this to say “It’s great to be
part of a success story. Earlier this year we surveyed our landlord clients and
94% said they would be happy to recommend our service. Now we are adding
another 89 offices to the Martin & Co Group, you could say that even other
lettings and estate agents want to get in on the act”.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN"><br /></span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN"><br /></span></div>
<div class="MsoNormal" style="line-height: 12.95pt; mso-layout-grid-align: none; text-autospace: none;">
<span lang="EN">Martin and Co Weymouth 01305 775504 philip.wakefield@martinco.com</span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-63234127401309863832014-10-24T07:10:00.005-07:002014-10-24T09:38:11.061-07:00EARN £20,000.00 per year<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<o:p> </o:p><b>A couple came into
the office the other day talking about buying to let and how much money you
needed! After a bit of investigation it
transpired that they were soon to complete on a family house upcountry and had
£300,000.00 to invest. We could buy one
house as a buy to let it was suggested!</b></div>
<div class="MsoNormal">
Was this going to be a significant part of their income I
asked? Apparently yes! How could you maximise your return then.<o:p></o:p></div>
<div class="MsoNormal">
Scenario 1 Buy a property for £300k and let it
out. Rental return £1000 per month. Return on investment 4% or
£12000 per year<o:p></o:p></div>
<div class="MsoNormal">
Scenario 2 Buy four buy to lets at £150k each with a
50% to 60% mortgage on each. (The best
mortgage rates are on loans less than 60% LTV<o:p></o:p></div>
<div class="MsoNormal">
Each lets for £700 per month with mortgage costs of £200 per
month at 3%<o:p></o:p></div>
<div class="MsoNormal">
Total income would be 33600.00 less mortgage costs of £6750
leaves a profit of £26850 or 8.95% Assume agents costs, insurance and maintenance
leaves a net profit in excess of £20k per year which is still 6.6% . Find a good agent and forget about it!<o:p></o:p></div>
<div class="MsoNormal">
This is called leveraging or ‘using opm’ (other peoples
money) and can provide a way to produce an income far and away in excess of
what you could expect using all your own money. Landlords in this country have been doing
this for years and many have become very successful with this strategy.<o:p></o:p></div>
<div class="MsoNormal">
If you have ideas for property investment and would like a
second opinion please stop by for a chat- Martin and Co top of St Thomas Street,
Weymouth or call us on 01305 775504<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
Philip Wakefield
Property File 7<o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-37810324716363563362014-10-24T00:36:00.001-07:002014-10-24T00:36:33.288-07:00Housing Benefit Tenants-A good thing?<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-family: "Georgia","serif"; font-size: 14.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Very often, ex Local Authority properties are quite
sought after by investors due to higher returns and more reasonable purchase
prices They are often in areas that attract Housing Benefit tenants.</span><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">We get asked by potential tenants if
we have properties that will accept housing benefits on a daily basis. These tenancies can work well, but it’s
really important that the landlord understands in advance how these tenancies
work, and what the pro’s and con’s are. I’ll go through these below.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 3;">
<b><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #4a4a4a; font-family: Georgia, serif; font-size: 12pt;">What are the Advantages?</span></b><b><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">!</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The main point is that statistically
housing benefit tenancies cause no more problems than private tenancies. They
just work differently and need a relaxed landlord. </span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Housing Benefit tenancies last longer
– if you’re claiming benefit and you want somewhere nice to live, the world is
by no means your oyster! As such when tenants get somewhere nice, they tend to
stay longer.</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">In certain areas of town, a housing
benefit tenant may be a safer bet than a private tenant – a single parent with
children is always going to be entitled to funds, whereas a private tenant on
low income and in / out of work, may struggle more to pay.</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">More often than not, we can arrange
to receive direct payment from the Local Authority, which mitigates the
likelyhood of the tenant not paying.</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><span style="background: white; color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">What are the
disadvantages?</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">There are a few here also. It's
important you understand these in advance.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Rent is paid in arrears, not in
advance.</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Local Authorities make 13 rental
payments a year instead of 12. You still get the same amount of rent annually,
only in smaller chunks.</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Local Authority administration is
pretty slow . They do backpay though, so
you'll get your money eventually. </span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; text-indent: 0cm;">
<!--[if !supportLists]--><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: Arial; mso-fareast-language: EN-GB;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]--><span style="color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Some tenants sometimes struggle to deal
with issues that arise (such as their benefit entitlement being changed) and
deal with this by ignoring it, or burying their head, rather than coming and
telling you.</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 14.55pt; margin-bottom: 3.0pt; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The secret to success here is
understanding the above and managing it. If you get a reliable tenant, and a
relaxed landlord, it can work really well and deliver a great yield for the
landlord. If you get an unreliable tenant and an inflexible landlord, problems
can ensue! Is this any different to renting privately?</span><span style="color: #4a4a4a; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br />
<!--[if !supportLineBreakNewLine]--><br />
<!--[endif]--></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<span style="background: white; color: #4a4a4a; font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 107%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">As
such there can be problems with accepting tenants in receipt of housing
benefit. It’s not a market that suits everyone and if you’re the sort of
landlords that treats their rental properties as extensions of their own home,
it’s not the market for you. That said, you can pick up a cheap property in one
of the less upmarket areas of town and rent it for good money. We have a number
of landlords who operate successfully in this market and I have a couple of
places myself that I let out to tenants in receipt of benefit. </span><span style="font-size: 12.0pt; line-height: 107%;"><o:p></o:p></span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-23348179806603111742014-10-09T08:45:00.001-07:002014-10-09T08:48:55.132-07:00How much!!!<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;">We often get asked for average rental prices in
the Weymouth area compared to Portland and Dorchester. This is probably best illustrated in a table
form which I have attempted below. These
are obviously ball park figures and you can add for property in exceptional
condition, in a unique position or subtract for those in a tired condition or
poorly located etc.<o:p></o:p></span></b></div>
<div class="MsoNormal">
<br /></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">Weymouth<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">Portland<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">Dorchester<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">1 Bed Flat<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">500<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">450<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">550<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">2 bed flat<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">650<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">600<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">675<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">2 bed house<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">725<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">650<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">750<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">3 Bed House<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">825<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">725<o:p></o:p></span></div>
</td>
<td style="padding: 0cm 5.4pt 0cm 5.4pt; width: 109.9pt;" valign="top" width="147"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">875<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 14.0pt;">All in £’s per calendar month<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;">Just because those in
Dorchester are higher and those in Portland lower does not mean that Dorchester
is a better bet for your investment.
Purchase prices on Portland are lower as well so your return can often
be better there than in the County town.
It is also very important to take into account how quickly it might be
to sell. Some properties on Portland can
take a while to sell and Flats and Apartments are in plentiful supply over the
whole area and can also stick. Semi-detached
houses in Weymouth however are always in demand and find new buyers comparatively
quickly provided they are well priced.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;">Rental prices are reasonably
stable at the moment. Good quality, nice
condition property will rent quickly to (usually) responsible tenants and the
converse can also be true.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="background: white; color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;">It all comes down to doing
your homework, asking questions of the agent and the owners. Find out their
motivation for selling and see if you can ‘bag that bargain’. Trust me, they
are still out there. As we are estate agents as well, I can look at the whole of
the market and give you an honest opinion on the investment potential of any
property up with any agent. If I see a deal that I think is a good investment I
will put it on my blog at http://macweymouth.blogspot.co.uk/</span><span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;"><br />
<br />
<span style="background: white;">If you
have a specific investment in mind and would like someone to offer an opinion
please come in to our office at any time and we would be delighted to
talk to you.</span><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;"><span style="background: white;"><br /></span></span></div>
<div class="MsoNormal">
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;"><span style="background: white;">Philip Wakefield 09/10/2014</span></span><br />
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;"><span style="background: white;"><br /></span></span>
<span style="color: #333333; font-family: "Arial","sans-serif"; font-size: 11.5pt; line-height: 107%;"><span style="background: white;">5</span></span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-5709568307802544872014-10-03T08:06:00.001-07:002014-10-03T08:06:37.184-07:00Is now the time to buy on Poundbury?<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">Property on
Poundbury lets for appreciably more than property in other parts of Dorchester
and therefore attracts landlord's looking for property investment.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
Rental return is not the only consideration and capital
growth is also equally important over the long term. 2 Bed apartments in Middlemarsh Street cost,
on average £147k in 1999 as newbuilds. In 2013/14 the average price achieved
was £148k! However, overall returns on these
apartments are around the 6 % mark – a reasonable return. Of course this is not to say that prices here
will not rise more in line with other areas from now and of course may even
exceed national averages meaning that you will get that capital growth. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Looking at 3 bed terraced property the average asking price
is around £300,000 which would rent for £900 showing a return of 3.5%-not so
good when you take into account your costs. I would imagine that there is still
some levelling out to happen here. The number
one rule of good investing applies here as anywhere. <b>Do not
overpay</b> as you will spend years waiting for the value of your property to
fall back into line with others in the area as they appreciate.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
It could still be a good area to invest for the small investor
though. The properties are modern and people like to live here.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
On another tack altogether Martin and Co are<b> launching brand
new insurance</b> offerings for Landlords and Tenants. These include Buildings cover for empty
properties and a stunning rent guarantee product that is amazing value and
delivers the benefits. Speak to us to
find out more as there are some great financial incentives for Landlords as
well.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Philip Wakefield Property File</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Martin and Co 01305 775504</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-17922221836756712022014-09-19T08:07:00.003-07:002014-09-19T08:07:46.105-07:00<div class="MsoNormal">
<span style="color: #5b9bd5; font-size: 20.0pt; line-height: 107%; mso-themecolor: accent1;">Property File <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Last Friday a Landlord called me to say that she loved the
article in the paper but it wasn’t clear who had written it so I have tried to redress that
this week. All articles are on my blog
so please go to macweymouth.blogspot.co.uk if you are interested. <o:p></o:p></div>
<div class="MsoNormal">
In this column it is my intention to discuss property issues
in the Weymouth, Dorchester and Portland areas on a weekly basis that I believe
will be of interest to investors, landlords and house purchasers.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Today I am going to look at buying two different types of
semi detached property in two different areas in Weymouth, the first area is around
Corporation Road just off Abbotsbury Road and the second on the other side
specifically Knightsdale Road. Both
roads are popular with tenants and a house on Corporation will let for £775 to £800 and Knightsdale £825 to £850.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
An important part of any property investment is balancing the capital growth
with the rental income so looking at our two examples our ex local authority
house in Corporation Road will return 5.5% on a purchase price of £175k whereas
our property in Knightsdale Road costing £210k
will return 4.5% nearly 20% less.<o:p></o:p></div>
<div class="MsoNormal">
Capital growth wise, over the last 14 years both houses have
risen in price by around £145 per week. The sensible money would therefore
appear to be on a property in Corporation Road or in its immediate vicinity. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
If you have a particular property in mind
please come and see me to discuss your investment!<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="color: #5b9bd5; font-size: 20.0pt; line-height: 107%; mso-themecolor: accent1;"> Philip Wakefield</span><span style="font-size: 20.0pt; line-height: 107%;"> Martin and Co <o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<span style="font-size: 20.0pt; line-height: 107%;">
01305 775504</span><o:p></o:p></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-27787617957582058282014-09-12T04:46:00.000-07:002014-09-12T04:46:03.385-07:00Is a one or two bed buy-to-let the best investment?<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-size: 20.0pt; line-height: 115%;"> </span><b><span style="font-size: 12pt; line-height: 115%;">Ok so you’ve
decided to take the plunge, become a landlord and invest your savings in a buy
to let apartment or flat in Weymouth in order to boost your income and try to
build in a little capital growth.</span><span style="font-size: 12pt; line-height: 115%;"> </span><span style="font-size: 12pt; line-height: 115%;">What
are the things to look out for when starting this search?</span></b></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;">We had a
similar brief a while ago from an investor who came into the office and this is
the results of the research we did for him.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;">The average
price for a one bed flat locally is around £80,000 and it would typically rent
for £450 which gives a return of 6.75%<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;">A two bed’s
average rent is around £625 and costs on average £130000 giving you a return of 5.7% some 16%
lower. Capital appreciation over the
long term is likely to be similar on both.
We have a healthy demand for both one bed and two beds so there is
unlikely to be an advantage to owning either one or the other for letability.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;">As flats are
leasehold consideration must be given to the management of the block. If it is a large block managed by a
professional management company the maintenance and fees can easily come to the
equivalent of two months’ rent over a year, however if you are buying a flat in
a converted house there is often little organised maintenance and it is done on
a ‘just in time’ basis with the bills being shared by the leaseholders. A purpose built flat with a professional
management company will cost more to buy and run but the rent achieved can be
up to £100 more per month. It is
important to factor in all these costs when doing your sums!<o:p></o:p></span></div>
<div class="MsoNormal">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCPREsNZFnfmC2HrL-uvsfLvWL7AAQvoglRB_a3G4mm-94NFpPn5-z6hNJC016ju8PRj8ycnLQY9-6oSOrV58GFkE4yLOpMp-VsYKXXMwkDMvv5ifD30mkPZQEnLBTyvrWGVcpKDRm0wM/s1600/front.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCPREsNZFnfmC2HrL-uvsfLvWL7AAQvoglRB_a3G4mm-94NFpPn5-z6hNJC016ju8PRj8ycnLQY9-6oSOrV58GFkE4yLOpMp-VsYKXXMwkDMvv5ifD30mkPZQEnLBTyvrWGVcpKDRm0wM/s1600/front.jpg" height="212" width="320" /></a><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;">Comparing
also two bed houses which have no expensive management fees to pay, cost on
average in Weymouth in the region of £140,000 to £160,000 and will rent for
£750 if they are nice. There is a constant good demand from potential tenants
and the return here is up to 6.4%. with all the advantages of a freehold over a
leasehold for you the owner.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;">If you are
looking in Weymouth or Dorchester to make an investment such as this please pop
into our office’s at 2 St Thomas Street, Weymouth for a chat when you are
passing.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 12.0pt; line-height: 115%;">APW<o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-89542235531083454852014-09-04T08:25:00.000-07:002014-09-04T08:25:29.306-07:00The 5 do's of property investment<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b>I've been meaning to
write this article for quite a while!
Experience in the letting game is hard won but as a professional letting agent
with some personal experience as well I feel at least a little qualified to
offer the following opinions. </b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b>In that
time, I've seen loads of landlords buy loads of different properties. Some (in
my view) have bought well. Others have bought less well (or to be precise been
"sold something"). I've invested myself and have certainly bought
things towards the start that I now regret - being within the industry has
changed my perspective on what constitutes a good purchase! </b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b>So what type of
landlord seems to do well?<o:p></o:p></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><u>Do not overpay</u>.<o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b>Property is an
investment, so if you overpay at the start, you're forever playing catch up in
terms of trying to make that investment work. Some buyers are happy to pay the
market rate for a genuinely nice property. Others seek dilapidated properties
at reduced prices and generally get good deals even though works are required.
Either is fine, but what you want to avoid is paying good money for a property
that's actually pretty average - and that's 80% of the market!<o:p></o:p></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><u>Do have your business head on</u><o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b>What I'm saying here
is that those who become a landlord accidentally struggle to make it work for
them. If the house you're renting out was once 'home', there's always going to
be an opportunity to feel 'the lawn wasn't like that when I lived there' or
'there are some scratches on that wall I took ages painting'. If you rent out a
place you've never lived in, anything the tenant does isn't as personal. <o:p></o:p></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><u>Do maintain your property(s)</u><o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b>It's important that
any property is kept up to date. If you spend nothing on it, over a few years
it will become dilapidated which affects the value of your investment. Equally
if you don't repair things quickly, decent tenants will get fed up with you and
leave. Your property will churn more frequently and your tenant quality will
drop too. You're now in a downward spiral which will cost you far more in the
long run than keeping your property in good repair.<o:p></o:p></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><u>Do not 'fiddle'</u>.<o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
<b>No I am not talking about money here. Good tenants want the
'peaceful enjoyment' of their property and invariably get frustrated by
landlords who are overly attentive. We
manage one property where I know the landlady (who's a really well meaning
lady) has lost 3 tenants in the last few years because they feel like they are
being 'supervised' - a property inspection on a 2 bed flat does not take 30
minutes and involve quizzing the tenants on their personal sleeping
arrangements(!) <o:p></o:p></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><u>Do not become greedy</u>.<o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<br />
<div class="MsoNormal">
<b>You would be
surprised how many landlords are OBSESSED with the amount of rent they are
receiving. You can legally raise a rent every 12 months and this is the only
date some landlords diarise - irrespective of whether the rental market or the
state of the property justifies an increase - every year they force through a
rental increase even if it's just a fiver. When you have a good tenant who
looks after the property and is paying a decent rent anyway, this is a complete
false economy as all it does is antagonise the tenant. It's the same with
landlords who have got £x for a property previously and will dig their heels in
until they get £x again - they fail to understand that you maximise your income
by killing void periods and the costs associated with a change of tenant. If a good tenant comes along far better to take £10 less per month than lose a whole months rent in a void. Conversely landlords whose end of year figures look the best are those who've
set a sensible rent to start off with, and once they have a decent tenant don't
rock the boat.<o:p></o:p></b></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6983189970322513592.post-30214666350338787972014-09-04T06:47:00.003-07:002014-09-04T06:47:32.065-07:00House Investment Alert Alert Alert!!!!!!!!!!!!<div class="MsoNormal">
<b>House Investment Alert
Alert Alert!!!!!!!!!!!!<o:p></o:p></b></div>
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
Absolute cracker of an investment.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Go to <a href="http://www.rightmove.co.uk/property-for-sale/property-43929223.html">http://www.rightmove.co.uk/property-for-sale/property-43929223.html</a><o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
Three bed terrace in Clayton Close with two double bedrooms
and a single, garden plus views for £130,000
This will rent quickly at £750.00 per month returning 6.9% I am not sure why this has been missed but it surely is an opportunity for someone!<o:p></o:p></div>
Unknownnoreply@blogger.com0