Clause 24 and How to Beat it!

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We are pleased to invite you to our evening seminar at the Newark Beacon Tuesday 6 March.

Speakers will discuss Clause 24 and the impact it will have on landlords, but more importantly how you can plan most efficiently and make the most of your income/reduce tax liabilities.

The Ins and Outs of Property Tax – Simon Shaw, Director for Duncan & Toplis

As someone who advises many private landlords, Simon will look at various issues effecting the taxation of property income including the impact of the new rules for interest relief and the alternatives available.

3 Top Tips for Maximising Rental Income – Daniel Otton, Managing Director for Buttercross Estates

Find out how you can implement 3 simple tips that will increase your rental yields and help to combat Clause 24.

Timings for the event:

5.30pm: Arrival with Refreshments
6.00pm: Seminar begins with an introduction from Duncan & Toplis Director Caroline Cleary
6.05pm: Tax Changes from Duncan & Toplis Director Simon Shaw
6.20pm: Top Tips for Maximising Rential Income from Buttercross Estates Managing Director Daniel Otton
6.35pm: Q&A and networking
7.30pm: End

The event is free to attend but booking is essential. Click here to register.

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Nottinghamshire Selective Licensing Update

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Yesterday I attended the EMPO (East Midlands Property Owners) and DASH (Decent and Safe Homes) event updating about the selective licensing schemes across Nottinghamshire. The talks gave updates on Nottingham City’s proposed scheme, Gedling’s proposed scheme and updates on how Ashfeld’s scheme has been running since it’s implementation earlier this year…

Nottingham City

In November 2016 Nottingham City Council (NCC) voted to commence a city wide selective licensing consultation impacting 35,000 homes. The 11 week public consultation ended on 31st March 2017 and produced just 1,466 responses. Having considered the responses, on 18th July 2017 NCC approved a revised scheme now impacting 32,000 homes. The fee per property will be £655 for non accredited landlords and £400 for accredited landlords (see my previous post about becoming accredited). The fee is paid in two parts. The first payment on application and the second on notification by NCC to grant a licence. Due to the size of the scheme, NCC is required to seek permission from the Secretary of State and this was sought a the end of September 2017. If approved the scheme will potentiall remove circa £20m from the Nottingham Private Rented Sector (PRS) and will be the third largest scheme in England. The decision from the Secretary of State is due in January 2018.

Netherfield

Gedling Borough Council (GBC) have a consultation running until the 5th January 2018 and you can respond to it via their website. GBC believes a scheme is the only option available to compel landlords to improve management practices leading to a better housing and an environment where a balanced housing market and positive economic and social change will be assured. Netherfield is identified as one of the 15 Partnership Plus areas (high crime/ASB hotspots) within Nottinghamshire where evidence suggests the PRS delivers substandard accommodation. In Netherfield there were over 400 reports of fly tipping in 2016, some attributed to the PRS. Under this selective licensing proposal landlords will need to take more responsibility for the storage and disposal of rubbish arising from their properties.

Within GBC enforcement area, Netherfield has experienced the highest number of service requests made about housing conditions during 2012-16 period. GBC believes 680 properties will fall under licensing based on housing data captured from the 2011 census (22.5% of the ward is privately rented). The proposed scheme will be entirely self financing. The fee for non accredited landlords will be £675 and accredited landlords £650, per property. GBC is conducting a briefing meeting on Tuesday 21st November at their offices. Details can be found here.

Ashfield

The selective licensing scheme in Ashfield was implemented on 1st February 2017. 463 properties are affected under the designation in Stanton Hill and Central Sutton In Ashfield. The Council has revised the number of properties to 956 after 113 landlords were registered as living at their rental properties therefore they were not originally identified as within the PRS. The fee is £350 per property for non accredited landlords and £250 for accredited landlords (though I believe the discounted period has ended). A property inspection will take place prior to issuing the licence and a follow up HHSRS inspection after the licence is issued. The scheme has forced a number of rogue landlords to sell their properties and there have been 56% less complaints being made about waste problems. Some stats from Ashfield Council since their scheme has been up and running;

  • 950 properties require a licence
  • 536 landlords have actively engaged
  • 279 applications are being processed
  • 63 properties have been rewired
  • 43 properties have had new roofs and windows
  • 8 properties have been identified as high risk
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Price is what you pay, value is what you get

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Yes it’s the old adage from Warren Buffett but I only recently saw it on my LinkedIn timeline. It applies to all services really but it’s one that most landlords get too caught up on. I can see why, as the letting industry is a minefield with different agents charging different fees and you’re never really sure what’s really included. When there’s so much variety it makes it challenging to compare services, that’s why I created a Letting Agent Comparison Checklist to try and obtain some clarity when searching for the right agent.

“What fee do you charge?” is often the leading question a landlord poses when making an enquiry. Sometimes it’s the only question when they gulp at my response of 11% knowing that some agents in town are currently offering 8.4% managed fee. Questioning what fee you pay is of course very important but it’s just the tip of the iceberg in terms of your due-diligence. What is it you are actually getting or not getting for the service offered? What services attract additional fees? How do you run your business? Are you available evenings/weekends? Will you advertise my property properly? Do you have a large cancellation fee? Do you provide photo reports after inspections?

I devised 8 tips so you know what to look for in a letting agent giving practical advice and common sense ideas that people sometimes often miss.

To put agent fees in perspective, a difference of 3% on a rent of £550 is just £16.50 or £198 over the year. But if the ‘expensive’ agent could get you an extra £50 per month with better marketing you’re better off by £402. Voids are one of the biggest costs a landlord can face. It’s not only the loss of rent but the liability of council tax, mortgage and other utilities which all add up. If you have an agent that’s not on the ball or misses good tenants then your property could easily be empty for 4-6 weeks which could equate to you being £1,000 out of pocket.

The other day I had a landlord pop in with half a dozen properties that were managed by another agent and he was paying 5%… 5%! He was tempted by the lure of cheap fees but has since realised that the grass isn’t always greener. His tenants cant get hold of his agent and instead call him, the rent is paid to him only when he chases it up and void periods are getting longer between tenancies. If you want your property managed you often do so in order to alleviate the stress and worry that being a landlord brings. If you’re in the same position where you feel that you’re agent isn’t providing the value they should then you too need to take a look around.

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Expert Pumpkin Advice

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Every Saturday in October we are offering expert pumpkin advice. Pop into the office and find out about the best pumpkins to buy, where you should be looking and which pumpkins produce the most seeds.

If you already own a pumpkin we can also help you become a better pumpkin owner and advise on the legalities of owning pumpkins.

No tricks, just treats (cup of tea)!

You can find us at 4 Middle Gate, Newark, NG24 1AG. If you can’t make a Saturday please call to arrange another time 01636 343014.

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Eyes On… This Weeks Investments In Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Castle Brewery, Newark
Type: 2 bed apartment
Asking Price: £145,000
Estate Agent: Sell It 01636 701967
Condition: Very well presented
Rent Range: £550 to £580 pcm
Yield: Up to 4.8%
Comments: Very popular development. Modern and low maintenance.

Address: Nelson Road, Newark
Type: 2 bed semi detached house
Asking Price: £127,500
Estate Agent: Jon Brambles 01636 613513
Condition: In decent condition
Rent Range: £495 to £575 pcm
Yield: Up to 5.4%
Comments: Great garden. May require a little decorating.

Address: Emmendingen Avenue, Newark
Type: 2 bed terraced house
Asking Price: £119,950
Estate Agent: Bairstow Eves 01158 820657
Condition: No photos provided
Rent Range: £525 pcm
Yield: 5.25%
Comments: In close proximity to Know How which would be popular for employees.

Address: Pelham Street, Newark
Type: 2 bed end of terrace
Asking Price: £115,950
Estate Agent: Sell It 01636 701967
Condition: Light refurbishment required
Rent Range: £495 pcm
Yield: 5.12%
Comments: A few bathroom tiles required. Close to the town centre.

Address: Wolsey Road, Newark
Type: 3 bed semi detached house
Asking Price: £115,000
Estate Agent: Winkworth 01636 611666
Condition: Cluttered but seems to be in decent condition
Rent Range: £600 pcm
Yield: 6.26%
Comments: Impressive number of chairs in one room. Cluttered but a decent sized family home.

Address: London Road, New Balderton
Type: 2 bed terraced house
Asking Price: £114,950
Estate Agent: Winkworth 01636 605006
Condition: A little updating may be required.
Rent Range: £475 pcm
Yield: 4.95%
Comments: Bathroom is downstairs which is a slight negative. The garden is surprisingly long.

Address: Sydney Terrace, Newark
Type: 2 bed terrace
Asking Price: £112,500
Estate Agent: Haart 01636 703141
Condition: Recently renovated
Rent Range: £525 pcm
Yield: 5.6%
Comments: Renovated throughout this looks immaculate and ready to move into.

Address: Cardinal Hinsley Close, Newark
Type: 2 bed terraced house
Asking Price: £109,950
Estate Agent: Sell It 01636 701967
Condition: In decent condition
Rent Range: £525 pcm
Yield: 5.6%
Comments: Bathroom and kitchen look relatively modern. Blank canvas, looks like a good rental.

Address: Smith Street, Newark
Type: 3 bed end of terrace
Asking Price: £109,950
Estate Agent: Newton Fallowell 01636 858115
Condition: In decent condition
Rent Range: £550 pcm
Yield: 6%
Comments: Downstairs bathroom. No photos of the bedrooms but downstairs looks in good condition.

Address: Hatton Gardens, Newark
Type: 3 bed end of terrace
Asking Price: £104,995
Estate Agent: Richard Watkinson 01636 611811
Condition: Time Warp
Rent Range: £525 pcm
Yield: 6%
Comments: Great renovation project for a keen developer. Popular street for rentals and close to town.

Address: Jubilee Street, Newark
Type: 3 bed terraced house
Asking Price: £104,950
Estate Agent: Haart 01636 703141
Condition: Decent condition
Rent Range: £525 – £550 pcm
Yield: 6.2%
Comments: Quite a green house. Quite quirky but nicely presented.

Address: Scholars Mews, Newark
Type: 2 bed apartment
Asking Price: £99,995
Estate Agent: NOW Homes 01636 858311
Condition: New Build
Rent Range: £495 pcm
Yield: 5.9%
Comments: Last apartment remaining on this new development

Address: Castle Brewery Court, Newark
Type: 2 bed apartment
Asking Price: £89,950
Estate Agent: CPG 01636 345045
Condition: Decent condition
Rent Range: £495 pcm
Yield: 5.9%
Comments: Kitchen is a little dated. It may need some light decorating once empty.

Hannah’s Star Buy
Address: Rubys Walk, Fernwood
Type: 2 bed flat
Asking Price: £89,950
Estate Agent: Newton Fallowell 01636 858115
Condition: Good condition
Rent Range: £525 pcm
Yield: 7%
Comments: Modern and very well presented. Would be a popular rental.

Address: The Old Chapel, Newark
Type: 2 bed flat
Asking Price: £80,000
Estate Agent: Jon Brambles 01636 613513
Condition: Good condition
Rent Range: £550 pcm
Yield: 8.25%
Comments: Popular conversion. Blank canvas and ready to move into.

Address: Ainsdale Close, Newark
Type: 2 bed apartment
Asking Price: £72,500
Estate Agent: Jon Brambles 01636 613513
Condition: Slightly dated
Rent Range: £475 pcm
Yield: 7.8%
Comments: Quite basic and may need a little lift. In the popular development of Fernwood.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Eyes On… This Weeks Investments In Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Milner Street, Newark
Type: 2 bed end of terrace
Asking Price: £149,950
Estate Agent: Gascoines 01636 813245
Condition: Light decorating required
Rent Range: £575 pcm
Yield: 4.6%
Comments: A little dated on the décor. Spacious 2 bed in a very popular street.

Hannah’s Star Buy
Address: 3 Willow Road, New Balderton
Type: 2 bed semi detached bungalow
Asking Price: £119,950
Estate Agent: Richard Watkinson 01636 611811
Condition: In need of modernisation
Rent Range: £600 pcm
Yield: 6%
Comments: Dreadful bathroom but a great renovation project. Get the lawnmower ready.

Address: 33 Rubys Walk Fernwood
Type: 2 bed terraced house
Asking Price: £117,500
Estate Agent: Newton Fallowell 01636 675175
Condition: Decent condition
Rent Range: £550 pcm
Yield: 5.6%
Comments: Ideal for tenants. Wooden floors and modern presentation. Low maintenance garden.

Address: Elizabeth Road, Newark
Type: 3 bed semi detached house
Asking Price: £117,000
Estate Agent: Now Homes 01636 858311
Condition: Decent condition
Rent Range: £575 to £625 pcm
Yield: Up to 6.4%
Comments: Decent family home. Good sized garden.

Address: 112 Wolsey Road, Newark
Type: 3 bed semi detached house
Asking Price: £115,000
Estate Agent: Newton Fallowell 01636 858094
Condition: No internal photos
Rent Range: £600 pcm
Yield: 6.2%
Comments: No need to go to the park. Appears messy outside so can only guess about inside.

Address: Wentworth Corner, Newark
Type: 2 bed terraced house
Asking Price: £105,000
Estate Agent: Winkworth 01636 611666
Condition: Needs a more neutral makeover
Rent Range: £500 to £525 pcm
Yield: Up to 6%
Comments: Burgandy bathroom suite. Headache inducing wall colours. Needs a new bathroom suite and a few liters of light paint.

Address: 3 Currie Road, Newark
Type: 2 bed terrace
Asking Price: £86,950
Estate Agent: Richard Watkinson 01636 611811
Condition: Modernisation required
Rent Range: £495 to £525 pcm
Yield: Up to 7.2%
Comments: Green carpet. Dated kitchen and bathroom, reminds me of a sauna.

Address: 29 Birch Road, Balderton
Type: 1 bed apartment
Asking Price: £59,950
Estate Agent: Newton Fallowell 01636 858094
Condition: Some Modernisation required
Rent Range: £350 pcm
Yield: 7%
Comments: Looks in decent condition but the deep green avocado bathroom suite needs to go.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Eyes On… This Weeks Investments In Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 5 Brewers Wharf, Newark
Type: 2 bed townhouse
Asking Price: £147,000
Estate Agent: Richard Watkinson 01636 611811
Condition: Some modernisation required
Rent Range: £525 pcm
Yield: 4.28%
Comments: Kitchen & bathroom could do with a little upgrade. Bizarre carpet choices.

Address: 4 Handley Court, Newark
Type: 2 bed semi detached
Asking Price: £139,950
Estate Agent: Newton Fallowell 01636 675175
Condition: Decent condition
Rent Range: £525 pcm
Yield: 4.5%
Comments: Ready to move into. Plenty of clothes storage.

Address: 15 Middleton Road, Newark
Type: 3 bed semi detached
Asking Price: £130,000
Estate Agent: Newton Fallowell 01636 675175
Condition: Good condition
Rent Range: £575 to £595 pcm
Yield: Up to 5.49%
Comments: Very well presented family home. Ready to move into.

Address: North Gate, Newark
Type: 2 bed terraced house
Asking Price: £129,999
Estate Agent: Let It 01636 705868
Condition: Good condition
Rent Range: £525 to £550 pcm
Yield: Up to 5%
Comments: Very floral but very well presented. Immaculate gardens.

Address: Albert Street, Newark
Type: 2 bed terraced house
Asking Price: £125,950
Estate Agent: CPG 01636 345045
Condition: Decent condition
Rent Range: £575 pcm
Yield: 5.47%
Comments: Moderate condition but quite cluttered. May need a little modernising once empty.

Hannah’s Star Buy
Address: Charles Street, Newark
Type: 2 bed terraced house
Asking Price: £124,950
Estate Agent: Haart 01636 703141
Condition: Decent condition
Rent Range: £550 to £575 pcm
Yield: Up to 5.5%
Comments: Lovely garden. Popular location for families.

Address: 16 Moulton Crescent, New Balderton
Type: 3 bed end of terrace
Asking Price: £119,950
Estate Agent: NOW Homes 01636 858311
Condition: Decent condition
Rent Range: £530 to £550 pcm
Yield: Up to 5.5%
Comments: Generally tenant ready. Upstairs is a little tired.

Address: Grange Road, Newark
Type: 3 bed semi detached
Asking Price: £119,000
Estate Agent: Alasdair Morrison 01636 700888
Condition: Modernisation required
Rent Range: £550 to £595
Yield: Up to 6%
Comments: Dark and dated. Burgandy bathroom suite and stone lions. A real treat.

Address: Barnby Gate, Newark
Type: 2 bed terrace
Asking Price: £114,950
Estate Agent: CPG 01636 345045
Condition: Decent condition
Rent Range: £525 pcm
Yield: 5.48%
Comments: Nicely presented family home. Benefits from an attic room.

Address: Mill Gate, Newark
Type: 2 bed terrace
Asking Price: £95,000
Estate Agent: Jon Brambles 01636 613513
Condition: Modernisation required
Rent Range: £450 to £495 pcm
Yield: Up to 6.25%
Comments: Never seen a yellow kitchen before. Needs updating but has a spacious lounge with fireplace.

Address: Ash Road, Newark
Type: 2 bed flat
Asking Price: £79,950
Agent: Jon Brambles 01636 613513
Condition: Modernisation required
Rent Range: £395 to £400 pcm
Yield: 6%
Comments: That pink bedroom has to go. The kitchen could do with new units.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Eyes On… This Weeks Investments In Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 120 Winthorpe Road, Newark
Type: 3 bed semi detached
Asking price: £139,950
Estate Agent: JHW Home Lincoln 01522 504304
Condition: Decent condition.
Rent Range: £650 pcm
Yield: 5.57%
Comments: Shame there isn’t a bath. Perhaps a new carpet here and there but looks like a well kept property. Great family home.

Address: 47 Kings Sconce Avenue, Newark
Type: 2 bed townhouse
Asking price: £129,950
Estate Agent: Alasdair Morrison 01636 700888
Condition: Modern house
Rent range: £550 pcm
Yield: 5%
Comments: Well kept modern house. Ready to move into. Tenant friendly and a low maintenance garden.

Address: 6 Kennedy Walk, Balderton
Type: 3 bed semi detached house
Asking Price: £129,950
Estate Agent: Newton Fallowell 01636 858002
Condition: Needs a little TLC
Rent Range: £585 pcm
Yield: 5.4%
Comments: Appears to have a new kitchen. Living areas a little tired. Minor refurbishment required.

Address: 4 Cranmer Road, Newark
Type: 3 bed semi detached house
Asking price: £124,950
Estate Agent: Newton Fallowell 01636 858002
Condition: Very good condition.
Rent range: £595 pcm
Yield: 5.7%
Comments: Very well kept and welcoming family home. Modern and fresh.

Address: 48 Wood Street, Newark
Type: 2 bed terrace
Asking Price: £122,500
Estate Agent: NOW Homes 01636 858311
Condition: Ready to rent
Rent range: £525 to £550 pcm
Yield: Up to 5.4%
Comments: Kitchen in 2 parts so not ideal when cooking the Sunday roast. The house is in a good location, close to schools. It is well presented.

Address: Parliament Street, Newark
Type: 2 bed semi detached house
Asking price: £118,000
Estate Agent: CPG 01636 345045
Condition: Tenant ready.
Rent range: £450 to £475 pcm
Yield: 4.8%
Comments: Hope you like camper vans. Looks in good condition. Low maintenance garden.

Address: Cardinal Hinsley Close, Newark
Type: 2 bed end of terrace
Asking price: £115,000
Estate Agent: Haart Newark 01636 703141
Condition: Decent condition
Rent range: £475 to £525 pcm
Yield: Up to 5.8%
Comments: This house is empty. It is ready to move into. Great care has been taken over the positioning of plants and pots.

Hannah’s Star Buy
Address: 12 Top Row, Newark
Type: 3 bed terrace
Asking price: £109,950
Estate Agent: Newton Fallowell 01636 858002
Condition: Good condition
Rent Range: £595 to £625 pcm
Yield: Up to 6.8%
Comments: Only down side is that the bathroom is downstairs. Very nicely presented house.

Address: Pach Way, Fernwood
Type: 1 bed cluster house
Asking Price: £99,950
Estate Agent: NOW Homes 01636 858311
Condition: Decent condition
Rent range: £395 to £410 pcm
Yield: Up to 4.9%
Comments: Open plan living space. The balcony would be popular.

Address: 2 Century Street, Newark
Type: 3 bed terraced house
Asking Price: £99,950
Estate Agent: Richard Watkinson 01636 611811
Condition: Some refurbishment required.
Rent Range: £550 pcm
Yield: 6.6%
Comments: Overall it looks tired and in need of refurbishment. The garden needs some imagination. Painfully bright bathroom.

Address: 3 Currie Road, Newark
Type: 2 bed terrace
Asking Price: £86,950
Estate Agent: Richard Watkinson 01636 611811
Condition: Needs fully refurbishing and modernising.
Rent range: £400 to £440 pcm
Yield: Up to 6%
Comments: Shocking. Not seen carpets like that in my life. Needs gutting and starting again. Perfect for any investor who loves a project.

Address: 15 Fairfax Avenue, Newark
Type: 2 bed flat
Asking price: £84,995
Estate Agent: Richard Watkinson 01636 611811
Condition: Good condition
Rent range: £450 to £475 pcm
Yield: Up to 6.7%
Comments: Ready to rent. Good condition and appears quite spacious.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Eyes On… This Weeks Investments in Newark

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This weeks round up of new properties for sale in NG24, up to a value of £150,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Grange Road, Newark
Type: 3 bed semi detached
Asking price: £149,950
Estate Agent: CPG 01636 345045
Condition: Decent condition.
Rent Range: £575 – £625 pcm
Yield: Up to 5%
Comments: Would benefit from new kitchen units. Nice garden. Neutral décor.

Address: Simpson View, Balderton
Type: 3 bed mews house
Asking price: £145,000
Estate Agent: CPG 01636 345045
Condition: New build
Rent range: £595 – £625 pcm
Yield: Up to 5.1%
Comments: Brand new and ready to move in. Quite basic.

Address: 33 Nelson Road, New Balderton
Type: 2 bed semi detached bungalow
Asking Price: £137,500
Estate Agent: NOW Homes 01636 858311
Condition: Some modernisation required
Rent Range: £575 pcm
Yield: 5%
Comments: A little dated but looks cared for. Popular area of Balderton.

Address: 37 De Caldwell Drive, Newark
Type: 2 bed end of terrace
Asking price: £129,995
Estate Agent: Richard Watkinson 01636 611811
Condition: Nicely presented. Ready to go.
Rent range: £595 pcm
Yield: 5.5%
Comments: Attractive property in good condition.

Address: Barley Way, Newark
Type: 3 bed end of terrace
Asking Price: £129,950
Estate Agent: Martin & Co 01636 605006
Condition: Ready to rent
Rent range: £520 – £550 pcm
Yield: Up to 5%
Comments: A compact but decent family home. Impressive toy mountain.

Address: 7 Coopers Yard, Newark
Type: 2 bed townhouse
Asking price: £129,950
Estate Agent: Alasdair Morrison 01636 700888
Condition: Light refurbishment required.
Rent range: £550 pcm
Yield: 5%
Comments: Awful kitchen floor. Little tired. Popular location.

Address: 48 Bowbridge Road, Newark
Type: 2 bed terraced house
Asking price: £125,000
Estate Agent: Richard Watkinson 01636 611811
Condition: Good condition
Rent range: £525 – £550 pcm
Yield: Up to 5.3%
Comments: If you like wallpaper, you will love this house. Well cared for family home. Neat & tidy. Good location.

Address: Hill Vue Gardens, Newark
Type: 2 bed semi detached house
Asking price: £124,950
Estate Agent: Jon Brambles 01636 613513
Condition: Light refurbishment required
Rent Range: £435 – £450 pcm
Yield: Up to 4.3%
Comments: Awful walls and carpet combo. Wrist watch on the wall. Decent garden, with gym.

Address: Albert Street, Newark
Type: 2 bed terraced house
Asking Price: £104,950
Estate Agent: Winkworth 01636 611666
Condition: Good condition. Well kept.
Rent range: £495
Yield: 5.65%
Comments: Smallest kitchen ever? Attractive courtyard garden. Large master bedroom.

Hannah’s Star Buy of The Week
Address: 7 Century Street, Newark
Type: 2 bed terraced house
Asking Price: £94,950
Estate Agent: Jon Brambles 01636 613513
Condition: Some decorating required.
Rent Range: £495 pcm
Yield: 6.2%
Comments: Make sure you shut the door when showering. Popular location close to town and schools.

Address: Goldstraw Lane, Fernwood
Type: 2 bed flat
Asking Price: £89,950
Estate Agent: Newton Fallowell 01636 675175
Condition: Tenant ready.
Rent range: £500 pcm
Yield: 6.6%
Comments: Neutral décor and wooden floors so ideal for renting out. Watch out for service charges.

Address: Standish House, Grange Road, Newark
Type: 1 bed flat
Asking price: £62,500
Estate Agent: Newton Fallowell 01636 675175
Condition: Basic
Rent range: £350 pcm
Yield: 6.72%
Comments: Ready to rent. Wood floors and neutral décor. Range of rotary dryers to choose form in the communal garden.

If you’ve seen a property in Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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How to Spend £100,000 in a Day

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If you happen to have £100k in your pocket, what could that get you in Nottinghamshire?

A key part of our service is offering impartial advice to investors. They always want to know where to buy, what to buy and how much return they will get.

I have taken a look at the market today to give you an insight into the type of property available in this price bracket. Sometimes with change to spare.

Nottingham
For £100,000 you can buy this 1 bedroom apartment in the Lace Market area of Nottingham.
It is a first floor apartment in a warehouse conversion.
For the price you get 364sq ft. It offers open plan living with a combined kitchen/lounge space, which leads down a corridor to the bedroom. The only closed off space is the bathroom. There is no outdoor space or balcony.
It is a very nice looking apartment and would of course be a hit with young professionals in Nottingham.
Typical rental for this apartment would be £525 per month.
This gives a potential yield of 6.3%

Mansfield
For £98,000 you can buy this 3 bedroom semi-detached house in Mansfield Woodhouse. For the price you get approximately 800 sq. ft. of living space.
Lounge, dining room & kitchen/breakfast room on the ground floor. Upstairs are 3 bedrooms and a bathroom. Garden to the rear.
This type of property would be ideal for a family.
Typical rental for this house would be £575 per month.
This gives a potential yield of 7%

Newark
For £99,950 you can buy a 3 bedroom terraced house on Century Street.
For the price you get approximately 700sq ft. of living space. Lounge, dining room, kitchen & bathroom on the first floor. On the second floor are 3 bedrooms and a shower room. Garden to the rear.
This type of property would be ideal for a family.
Typical rental for this house would be £575 per month.
This gives a potential yield of 6.9%

All 3 properties offer decent returns on your investment and the results are typical for the type of property and location, in this specified price bracket of £100,000.

What this shows is that you can own considerably more bricks if you invest in the Mansfield or Newark area.

Apartments in the city centre will always be popular but will have a higher turnover of tenants.

Investing in a 2 or 3 bed house suited to families with children you are likely to get longer term tenants, especially if the property is in catchment for a good school.

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