It’s been a while since I’ve recommended a property to buy with a tenant in situ (mainly because there haven’t been many on the market!), but today I have come across this one for sale with Your Move..
It’s a fairly straight forward process 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.
As you will see from the Rightmove link above it’s a two bedroom ground floor apartment currently rented at £650.00 pcm. So if we look the asking price of £130,000 and work out the yield (we do that by taking the annual rental income and divide by the purchase price), it would give you an annual return of 6.0%!
This property would make a great investment, especially if you are a first time landlord and if you are and would like some free impartial advise about buy to let,
please get in touch with me on 01604 607080.