OVER THE past few months, many properties have been purchased in Saddleworth as a financial investment by residents wishing to become landlords on the rental market, writes Raychel Hobbs.
This has brought a range of highly motivated landlords who offer the rentals market a wide variety ofexcellent properties and pursuing this option offers a good return on the initial investment made.
And this also benefits the local area as there is always a choice of high quality property for people wanting to rent in Saddleworth.
To ensure such purchasers are realistic about the financial returns of this option we advise that they should expect, as with any business, to continue to build on their initial investment to maintain their property at a level that attracts current and future tenants.
This includes repair work if one-off structural problems occur as well as general maintenance for wear and tear. Items such as carpets and paintwork may need replacing and improving on a fairly regular basis.
Tenants are also required to keep the property in good order while living there – and the government’sDeposit Protection Scheme (DPS) will help to cover any minor damage that may occur.
Some prospective landlords may worry about such responsibilities but they can be reassured that taking out a ‘fully managed’ arrangement with Bridges can take much of the worry and negotiation out of maintaining their property to the highest standard.
All this will help ensure their property holds its value and that the relationship between landlord and tenants is a happy one.
Bridges Estate Agents is a independent agency specialising in Saddleworth, Mossley and surrounding areas with a professional and dedicated service. Find them at 63 High Street, call 01457 871845 or visit www.bridgesestateagent.co.uk
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