This is one of the best cash-positive income-generating investments we have made available to our clients for some time. These houses are in top letting areas across the country, that are tenanted and newly refurbished or newly built.
Properties are located in top letting areas including Fallowfield and Rusholme.
High-yielding, refurbished houses in prime areas with demand for student accommodation booming and student rents rising significantly
Gross yields of up to 10%
Freehold title with no service charges.
Property can be further enhanced to meet the descerning investor.
Hands-off letting and full management service with each property
All houses are let on a single AST contract with parents acting as guarantors - If one student pulls out the others on the agreement must pay the rent shortfall
Commercial mortgage rates apply to this type of residential investment - typically 60-65% LTV available (subject to status)
Typical rents of £67-£85 per room per week
Fantastic capital and rental growth in these student and young professional areas of Manchester
The houses are rented and managed on your behalf by a very experienced student letting agency and many already have tenants signed up before they are completed. Rents per room are typically £65-£80+ per week and the properties show a surplus over the mortgage payments in the first year making the investments cash flow positive (see typical investment analysis further down).
Decoration or refurbishment is carried out where the opportunity to optimise rents exists. Even if property is currently tenanted some works may still be recommended and it will often be possible to do this without the tenants moving out.
Some properties are recently refurbished or are indeed brand new and therefore need no work.
The purchase price normally includes furniture and white goods.
We follow a critical path to ensure maximum rents are achieved per room. Often additional bedrooms will be built in the loft space and elsewhere in the house to maximise rental income from the property and deliver additional property value - accommodation extended where the opportunity to improve rents exists within the original property
The investor can acquire the property with all of this work carried out.
What works are required to make the property compliant?
We work with the specific HMO compliance officers and advise on specific works so that costs are managed.
This is an excellent investment opportunity with renovations (where required) carried out to a very high standard. We have only a limited number of properties available for purchase each month and we operate a waiting list.
Demand is significant for these properties but there are only a limited number available per month so please enquire quickly in order to acquire one of these units.