6% return in Bingham for a £134,950 investment

These apartments on Eden Walk let for £675 pcm and this one is on the market with Hammond Property Services for £134,950. 

This is a lovely development and is popular with professional tenants.  You must remember to include any leasehold fees with apartments that will affect the yield. 

https://www.rightmove.co.uk/property-for-sale/property-54783018.html

2 bed ideal investment property in Bingham £165,000

This property has just been listed with William H Brown for £165,000 and it is a smart 2 bed on Rockingham Grove. 

This looks to require no work to get it ready to let and would easily achieve £675 pcm.


https://www.rightmove.co.uk/property-for-sale/property-66326935.html

5% potential return on a 2 bed for sale at £135,000 in Bingham

This 2 bed property is listed with Frank Innes for £135,000. Its on Brendon Grove and has an off road parking space and the second bedroom is a single. It says there is an enclosed rear garden but there are no pictures so this may need work. 

Taking into account the current condition this would easily let for £575 pcm and provide a potential yield of 5.1%...

https://www.rightmove.co.uk/property-for-sale/property-74032013.html






  

Bingham 5.5% potential Yield for £135,000 investment

This second floor apartment is marketed by FHP City Living and is on the market for £135,000. It has 2 double bedrooms and allocated parking and only a short walk from Bingham Town Centre. 

This would easily let for £625 pcm - giving a potential rental return of 5.5%. 

With apartments though it is important to consider any leasehold management fees. 

http://www.rightmove.co.uk/property-for-sale/property-53641803.html

  

Fancy a challenge? 6% potential return in Bingham

This 1 bed quarter house need some refurbishment but it looks to be mainly cosmetic! William H Brown are advertising this for £90,000 and it looks to be mainly cosmetic work. 

These properties appeal to professionals looking to live on their own and easily let for £450 pcm. It could achieve more depending on what was done with the refurbishment.

It could achieve a yield of 6%, there are rarely good investment properties coming onto the market for less than £100k these days!

http://www.rightmove.co.uk/property-for-sale/property-64157407.html

Energy Efficiency Regulations for Landlords Effective 1st April 2018

From the 1^st of April 2018 all properties rented out in the private rented sector must have an EPC rating of E or above. This applies to all tenancy renewals and new tenancies after the 1^st April.

It will become unlawful to let out a property with an F or a G rating unless there is an applicable exemption.

Landlords doing so can face a civil penalty of up to £4000. Demonstrating that a tenancy has been correctly set up is required when looking to carry out an eviction so it is crucial that landlords are aware of the regulations.

The government have also announced that from the 1^st April 2020 every let property with an EPC rating of F or G will be required to improve the energy efficiency of the property. It really is time to plan improvements if your property falls into the F and G bands.

There are exemptions that can be applied for, if the property is listed or in a conservation area for example, where the work would not meet planning guidelines. The local planning office will advise on this and I am sure there will be a cost to applying for the exemptions.

It is a good idea for landlords to be prepared and plan for any improvements prior to their property coming up for re let. Many properties have EPCs dating back to when they were first required and are due to be re done as they have now reached to 10 year mark.

The first thing to do is to get an up to date EPC done as the way in which these are assessed has changed over the years and it may be that the rating on the property has changed. Before this is done it is advisable to take some cost effective measures to improve the properties chance to get above the F. Sometimes simple things like energy efficient light bulbs can make all the difference.

Some local authorities also offer grants to help landlords improve the properties and there are schemes out there to help with insulation.

We are talking to all our landlords that this may affect and should you wish to discuss anything related to your rental property please feel free to give me a call.

Katie Archer, Belvoir Bingham 01949 714101   

Exciting Times Ahead For Bingham

The end of 2017 saw news of Barratts applying for planning permission for just over 300 houses as part of the 1050 planned homes to the north of the Bingham.

There has also been funding secured from Highways England for a pedestrian and cycle overpass to connect the former RAF Newton housing estate and Bingham. This will put this estate within walking distance of the Bingham amenities and will support the 550 new homes proposed in Newton.

 

As local residents pointed out when interviewed by the Nottingham Post – any development that is proposed should include a plan to improve the infrastructure available.  The Bingham development has proposed, alongside the 1050 new homes, to include a new primary school, employment space as well as a small retail area.

These new houses will really give a boost to Bingham’s town centre and I am sure will bring more business to the local shops. Bingham is very well placed for people commuting to Nottingham, Leicester and Newark so I am sure there will be no shortage of families looking to move into the properties.

There is currently a shortage of rental property in Bingham and we are hoping that a proportion of these new build properties will be purchased by buy to let investors. New build developments are popular with investors as they expect the maintenance requirements to be low and tenants like the modern fittings and economical running costs a new build offers. They always let quickly and as more and more tenants are looking for long term rentals void periods are minimal.

If you are considering investing in property follow our property blog www.binghamproperty.com for honest rental returns on properties for sale in the Bingham area or give me a call on 01949 714101. Katie Archer