Landlord fined £4000 for failing to improve damp in a property

http://www.landlordtoday.co.uk/news_features/34-000-fine-for-failing-to-improve-damp-home

It pays to know where you stand on the law when you let property privately. We help Southampton Landlords stay legal with professional advice on all aspects of lettings and management.

Southampton Buy to let rule #6

Rule #6 - Plain Sailing?
 
Some people clearly invest in property expecting there never to be any problems throughout their duration of ownership. This is a touch naïve, irrespective of the property you buy and the area you buy in.  

Your buy to let property is a business, and like any business, it will have problem customers at some point. 

You can mitigate your risk by instructing an agent that knows their stuff, and by insuring sensibly – the two big risks of buy to let (tenant doesn’t pay and tenant damages property) are both fully insurable. 

But even with this done you should expect hiccups at some point, so keep some money for a rainy day and if you’re the sort of person who would find some end of tenancy cleaning or a tenant losing their keys stressful, maybe something like stocks and shares would be a less personal way to invest your money!

Student Lettings in Southampton, you need to do your homework!

Interesting article in today's Independent about investing in the Student Lettings Market. Here in Southampton we have 40,000 students who annually seek accommodation and there are some fantastic opportunities but also big challenges and pitfalls. With new halls of residence coming on stream there is some over capacity within the sector which will bring buying opportunities and if done right can produce good yields and capital growth. Click the link here for the full story http://www.independent.co.uk/property/house-and-home/property/if-you-want-to-let-to-students-then-do-your-homework-9101637.html

Southampton Property Auction to be held on the 27th March 2014 

There are some interesting lots please view the brochure and see all the lots here: WWW.FOXANDSONSAUCTIONS.CO.UK    If you need any advice or guidance on any of the lots please give me a call.

Southampton Buy to let Rule #5

Rule #5 Estate Agents .. Watch them!

There are good agents, and bad agents, but they are all paid by a vendor to SELL YOU a property, NOT paid by you to help you buy. 

As such they may not be as ‘on your side’ as they seem! Don’t get pressured into buying a property until you have a good feel for the market – if you miss out on a good deal, another will appear sooner or later. 

When you’re viewing a horrible property and the agent is saying it’s “fine as a rental” they are simply demonstrating they don’t know much about lettings.

Brian's Southampton Buy 2 Let Deal of the week

Auction Guide Price £90K

2 Bed semi detached cottage style house for sale by auction on the 27th March in need of upgrading and refurbishment. Post refurb it should stand you about £125k versus a completed value of £145k - the other half of the semi is currently on the market at £150k, so a nice bit of equity to play with. Rental wise it will let at £825 pcm or £9900pa producing a Gross Yield of almost 8%.

The property is well located within walking distance of Southampton Central Train Station, Shirley High St and Southampton General Hospital. One to look at if you like rolling up your sleeves!