Another week is almost over and what a week it’s been! Here’s a property for you to think about for the weekend in the popular village of Moulton in Northampton….
It’s a two bedroom ground floor apartment on the market for £139,995, and it’s currently rented out for £625.00 with a long term tenant who wants to remain at the property. I would expect a possible rent increase may not be out of the question to bring the rent in line with current market rents.
But if we work out the yield based on the current rent of £625.00 your annual return should be between around 5.4%, of course this would increase with a rent review!
It’s fairly straight forward when buying a property with a tenant in situ, the tenancy that they have running, will continue until it’s expiry regardless of the owner and if you have a good agent managing it for you, they will be able to advise the best course of action at that point.
This is the link to for you to see more information…
If you’re interested in buying this apartment give us a call on 01604607080.