Is property investment right for you?
MANY people at this time of the year will be looking back on 2014 to analyse their financial decisions, and, according to Online Property Services, many landlords in West London can congratulate themselves on making an excellent investment with their rental properties.
Whilst putting your money in the bank will yield very low interest rates, typically 1% to 3%, investment in property around the Uxbridge area has once again proved to give a high return, says director of Online Property Services Fiona Evans. Based on Land Registry figures, property values in the borough of Hillingdon increased by 13.1% during 2014. In addition, Online Property Services' landlords enjoyed gross rental returns on their investment of 5% to 6.7%.
This brings the total return on their rental property last year to an average in excess of 18%.
“Our landlords particularly appreciate our policy of careful screening of tenants.We believe that most problems can be avoided by permitting only the highest quality tenants to move into our properties, said Ms Evans.
“Although we have more than 20 years' experience in the letting industry, we have made significant improvements to this policy in the last two years.With the Immigration Act due to be rolled out nationally this year, it will be even more essential that our landlords can trust our systems for selecting tenants.”
How can Online Property Services help you?
“Many landlords, having had a taste of property investment and been very satisfied with our service, have decided to ,increase their property portfolio,” explained Ms Evans.
“They have taken advantage of a free service we provide, which is helping them choose investment properties in the local area.
“We have helped them select properties from the market, viewed the properties ourselves and explained the advantages and disadvantages of each property along with the expected rent we would achieve for them.
“It is also important to highlight that good quality properties attract good quality tenants. Other specific factors such as length of lease, proximity to Stockley Park, ease of access to stations on the main line to Paddington and whether there are good local schools are also important.
“We also advise our landlords on which properties are likely to offer lower maintenance costs.
“If this sounds appealing to you please do give us a call on 01895 813462 or e-mail us on firstname.lastname@example.org.
“We hope that you too will be delighted with your financial decisions for 2015,” she added.