A £7.5m scheme to rejuvenate Nuneaton town centre

This is a headline that us Nuneaton folk have been waiting for…hoorah! The BBC News announced the “Go ahead for £7.5m Nuneaton town centre revamp” on 12th November, much to everyone’s delight.

What does this mean for Nuneaton Property Investment? Well, with a thriving, vibrant and busy town, Nuneaton rental properties will be even more in demand than they are now!

We’ve known for some time now that this was going to happen, what with the mass housing developments going on around Nuneaton and even MORE expected, it’s only right that we get a brand new sparkly town to match!

Property Investors from near and far have been expressing an interest in Nuneaton for some time and now that this Rejuvination scheme is on the cards, now is a great time to get investing in Nuneaton!

If you would like to discuss this article in more detail, please feel free to give us a call on 02477 674545, email info@qthomes.co.uk or, why not pop in and see us for a coffee and a chat.

For more information on the proposed town developments, please contact Nuneaton & Bedworth Borough Council 02476376376

Star Buy in Nuneaton with a yield of 6.5%


During my daily browse on Rightmove I came across a property in Stockingford, Nuneaton which caught my eye. It is in need of some love and attention but it has fantastic potential.

It’s currently on the Market with Hawkins at offers over £105,000. The price does reflect the work required, which is pretty much a new kitchen, new bathroom as a minimum.

It currently has a good size lounge and a kitchen diner on the ground floor with two bedrooms and a sizeable bathroom on the first floor.

The layout is attractive and would be appealing to prospective tenants. With a total revamp of the kitchen and bathroom, this house could be a cracking rental property bringing in around £625/month rent.

If you were to purchase it for £105,000 and spend £10k (max) bringing it up to scratch, you’d be looking at a very attractive annual yield of 6.5%

Click the link below to see more property information…
Two Bedroom Terraced on Church Road, Nuneaton
*Pictures featured were taken by Hawkins*

Do you want a pool of 1,500 Nuneaton Tenants to choose from?

What a silly question, of course you do!

Well, as I’m just so kind, I’ll let you into a little secret…they’re all gathered in one group on Facebook.

Some time ago, we created a group on Facebook with the purpose of introducing Nuneaton Landlords to Nuneaton tenants. You’re probably thinking “why on earth would you do that? A Letting Agent being kind and thoughtful!?”. Well let me tell you, we do exist and we’re not as bad as people think we are. Especially Mariam and I…we’re just the best…so our Dad tells us.

Since creating the group a couple of years ago, it has gained 1,581 members to date. Most of whom are local tenants looking for a Nuneaton property but, most importantly, to them, a private landlord.

Now we do sometimes question why people are so desperate to go through a private landlord rather than an agent. Sometimes they’re just trying to save cost by avoiding the Agent fees, which is fair enough, we understand. But sometimes they might be trying to hide much more.

Have you ever asked a tenant where they’ve been living for the past 3 years and they say “living with my Mum and Dad”? Now for a 20-25 year old, I’d say that’s kind of acceptable (although I’d still raise a suspicious brow…just the one) but, as a private landlord you say “oh ok, no need for a landlord reference”.

What you didn’t know is that they’ve been renting several properties over the last 3 years, getting into rent arrears with each one and being evicted every 6-12 months!

Don’t get me wrong, this isn’t always the case and people are living with parents for longer BUT what I would say is that it’s your responsibility to investigate these things. Get proof that they’ve been living with their parents (bills, bank statements, pay slips, electoral roll with their parent’s address). Make the effort to protect yourself as much as possible.

I’m not sure how many successful matchings there has been on the Facebook group but I’m confident that it’s quite a lot. As soon as a private landlord posts a property on there, the tenants are like vulchers around a piece of rotting flesh. Sorry for the grim analogy, it’s the first one that came to mind, but you get my drift.

The reason being, of course, is that young people are struggling to find the deposit to get that first step on the property ladder so, as soon as a semi-decent Nuneaton property becomes available, they’re all over it.

If you’re looking for a tenant for your Nuneaton property and you are CONFIDENT that you are a GOOD LANDLORD who has everything in place (certificates, deposit, correct paperwork etc) then feel free to join the group and post your property on ‘Nuneaton Houses to Let For Sale or Wanted’.

If, on the other hand, you don’t want all the hassle and just want an Agent to find a tenant for you, you know where we are and we’re always happy to help. If you’re not sure about whether you should get in touch, don’t just take our Dad’s word for it, take a look at our Facebook reviews to see if we’re right for you (@qthomeslettingsltd).

Happy Hunting People!

I can’t sell my Nuneaton Buy To Let because of my Tenant!

We were recently instructed to sell a property but the Vendor had a bit of a dilemma. She had a tenant in situ who was not happy about the property being sold. She told the vendor that she would not move until she was evicted by the bailiffs, a process we all know can take quite a long time as well as being costly.

After talking in more depth with the Vendor we had to inform her that the notice she had already served on her tenant was void because she had not done any of the things she was required to do (by law) at the start of the tenancy. This did not go down well but she was grateful to find out now rather than at court when the judge would roll his/her eyes and just dismiss it.

Now, it’s important to remember that although this Vendor was clearly distressed and worried about the whole situation, the tenant would be feeling incredibly vulnerable and angry that she was, in effect, losing her home.

At this juncture in a tenant/landlord relationship, it’s so easy for things to get nasty but no one likes to be victim to an aggressive text or phone call. The landlord often starts threatening the tenant and in return the tenant digs their heels in and insists on staying for as long as possible, just to spite the landlord (or, in most cases, it’s because they’ve been instructed by the housing department to “stay put” until the bailiffs come knocking…*SIGH*).

So this was the situation that our Vendor found herself in.

She asked for our advice and I told her that although this is a very stressful time for her, she needs to remain as calm and level headed as possible, which is easier said than done. I’ve been in this situation myself many years ago and, I’m usually a very calm and loving person but I felt so much anger to the point that I thought I was going to take Hulk form and start hulk smashing everything! (I’m glad to say, I did not turn green or start smashing things!)

I suggested to the Vendor that she avoid contact with the tenant for the next day or so and just consider her options, a couple of which were:

1. Instruct a professional company / solicitor to serve the relevant notices (after having resolved the gas cert and documentation issues)
2. Ask the tenant nicely and calmly to sit and have a chat to go through their options, which were:
a. Service Notice, Court Hearing, public humiliation by Bailiff eviction (no one wants this)
b. The landlord could offer to pay a deposit on a new property for the tenant. After all, paying £600-£800 is better than forking out court & bailiff fees while the tenant sits in the house refusing to pay the rent!

The Vendor felt quite frustrated that one of the options was to GIVE the tenant money after she’d caused such a fuss. Why should she be out of pocket? But, after talking her through the whole dragged out process of eviction, she decided this would be best and save her time, stress and money in the long run.

After a day or so of calming down, the Vendor managed to meet with her tenant. I’m happy to say that the tenant accepted the waving white flag and agreed to accept the deposit money for a new property and even thanked the landlord for helping her.

I’m also happy to report that the property sold during the first viewing…for £10,000 more than the asking price! So, the Vendor was not out of pocket after all and she’s thankful that she made the right decision to allow the house sale to go through.

If you are experiencing difficulties with your buy to let property, please feel free to give us a call and we’ll be more than happy to offer some advice and help you going forward. Either pop into our office on Bond Street, Nuneaton. Call us on 02477 674545 or email info@qthomes.co.uk

*INTERVIEW* Advice for Nuneaton Landlords (what is taxed, what you can claim for etc)

As promised, here’s another interview for you to take some guidance on. I interviewed Sophie Vanes, an accountant from the SFB Group in Nuneaton about tax implications for Landlords, what they can claim for, what and how they should account for costs relating to their buy to let investment and much more.

See the full video here

As always, I hope you enjoy and find the video useful. Please feel free to get in touch if you have any ideas about who I should interview next.
T: 02477 674 545 E: m.maycock@qthomes.co.uk

Has the Nuneaton Property Market slowed down because of the ‘B’ word??


I’m not afraid to admit that we’ve noticed a recent dip in enquiries from Rightmove and Zoopla for our properties for sale. Other agents might not admit it, but they’ve felt the ice cold breeze of the silent treatment too!

It’s not just Nuneaton though, I’m hearing the same from other Agents across the UK, which makes me think it’s more of a national thing rather than just local.

I can’t help but think it might have something to do with good old Mark Carney saying that, in the event of a no deal Brexit, the house prices will crash substantially next year. Now, before you sigh and switch back to facebook, hear me out (trust me, I’m sick of hearing about Brexit too…just get on with it people and stop talking about it!).

Imagine you were all ready to move house, you had your agreement in principle ready to flash around to the Estate Agents, your solicitors had the paperwork ready to stuff into an envelope to send out to you, but then you hear the Governor of the Bank of England saying that HOUSE PRICES WILL CRASH (that’s NOT actually what he said but that’s what people hear) then you would hold your horses and reassess the situation. “Do we really have to move now?”, “we’re alright here for another 6-12 months, let’s see how Brexit goes and move after”.
Cue the silence and tumble weed….

However, on the flip side, there are those who are not phased by the scaremongering, those who just want to buy a new home whether it’s a first time buyer or a growing family. Last week we sold 3 properties all within the first viewing. All buyers were in their mid to late 20’s and were super keen to snap them up (ranging from £115,000 – £300,000)!

Maybe it’s a generation thing?

The youngsters are cracking on with it and not letting the political drivel affect their property ladder progression, whereas the older generation might decide to stay put, see out the Brexit storm, which, by the way, will pass.
But, let’s face it, us Brits aren’t the best at weather forecasts so it might just be a bit cloudy with light rain after all that fuss and bother!

I’d love to hear what you think about the situation. Are you letting Brexit hold you back from your dream home?

If you’ve got any concerns or questions about the Nuneaton Property Market, feel free to give us a call or pop in for a chat 02477 674545

*INTERVIEW* information to help Nuneaton’s first time buyers

I did an interview recently with Becky Cutting GCILEx from Willsons Solicitors in Nuneaton to help first time buyers understand a bit more about the conveyancing process. It’s so easy to just pass everything to your solicitor to sort out but do you know what’s actually involved? Now you will…

Check out the video here

I’ll be doing more videos in the coming months with various professionals relevant to the property sector (both sales and lettings) so, keep and eye out or SUBSCRIBE to our YouTube channel so you don’t miss out!

I hope you enjoy them and find them useful and if you have any ideas about who to interview next, please let me know. You can call me on 02477 674545 or email m.maycock@qthomes.co.uk

Stockingford, Nuneaton- Watch this space!

Do you have a property in the Stockingford /Grove Farm area? Are you thinking of selling …or maybe in 2 minds as to whether to sell or rent? Well, hopefully reading this will help you decide.

Many months ago I wrote an article on plans for a new train station to be built in Stockingford, in fact there used to be one where the Aldi is now (many moons ago).

The plan is to have the station up and running by 2023 and will be on the Cross Country route to Birmingham with one train running per hour initially.

Cllr Philip Johnson, chairman of the communities overview and scrutiny committee said: “A new station in west Nuneaton will have a really positive impact on that part of the town.
“It would increase connectivity by providing access to important destinations such as Birmingham, Coventry and further afield which is essential for ongoing development of the local economy.”

It is hoped that another station in the area would significantly ease road congestion in the area, resulting in an estimated saving of 520,000 road vehicle kilometres a year by 2023, rising to 1.5m km a year by 2029 and with all the new builds popping up so fast this will hopefully be a huge relief on congestion in the town.

So, going back to your property in this area. My recommendation, to anyone who is looking to move but doesn’t necessarily need to sell their current home to do so, is to keep it!

Keep it and rent it out!

Many people have a misconception of this part of town but I can put my hand on my heart and reassure you that rents in this area are just as achievable as any other part of town, and there are ample tenants looking to rent in this area too!

Similarly if you are an investor, I would strongly suggest investing here NOW before everyone clocks onto the fact that in a few years’ time this is going to be a hot spot area for commuters to live in, from both near (Birmingham etc) and far (London).

If you would like to speak to us about investing in Nuneaton, or you have a property that you would like to rent out, we are currently running a summer offer whereby if you sign up by 7th September 2018 we will fully manage your property for 10% a month including VAT with no initial set up fee to you!

If it goes ahead, the new station, which could open as early as 2023, would be on the CrossCountry route to Birmingham, with one train running per hour initially. Exciting times ahead folks! Don’t miss out.

For any further information, please fee free to get in touch with Melissa or I on 02477 674545

The trials and tribulations of one of Nuneaton’s accidental Landlords


I wanted to share with you a story that I feel a lot of landlords could benefit from. Some time ago we had a phone call from a panicked Nuneaton landlord (and avid blog reader) . They are one of the many accidental landlords in Nuneaton and their story goes a bit like this…

(Just out of interest, see how many mistakes you can spot along the way)

They were left a property by a family member who sadly passed away and, rather than selling, they thought “why not rent it out?” so, with a WH Smith tenancy agreement in hand, they let the property to an applicant they found on Gumtree, took a deposit and kept it safe in their savings account. Does anyone else see where this story is going? I’m not mocking them. Even I made mistakes back in the day when I first started out with my first investment property (14 years ago…wow that makes me sound old!). I’m happy to report that I am wiser and (sadly) older now and there are no school girl errors!

Anyhoo, I digress….As is usually the case, their tenant was absolutely great for the first few months and then the late rent payments started (although they were still paying intermittently). When the landlords went round to do an inspection they were incredibly disappointed to see that the house was not being looked after. So, after some deliberation, they decided it was best to ask them to leave.

You must see where this is going now?…

They spoke to the tenant a few days later and told them that they were giving them one months’ notice to leave the property. After a month, the tenant had not left the property and had also completely given up on paying the rent. The landlord told them that if they didn’t move out, they would keep their deposit as compensation for lack of rent.
This went on for a further 2 months before the landlord got in touch with us as they were at the end of their tether.

Ok, now’s the time to see how many mistakes you noticed (red pens at the ready). We had to tell them in the nicest possible way that, without seeking legal advice and support, they would only continue to struggle getting the tenant out and it would probably end up costing them more than legal fees in the long run.

Mistakes:
1. WH Smith Tenancy agreement (not sure how up to date they are but they change quite often!)
2. Gumtree (say no more)
3. They didn’t secure the deposit in a recognised scheme
4. Landlords give tenants 2 months’ notice. It is Tenants that can give one months’ notice
5. The landlords would not have been able to keep the deposit because it was not protected properly (even though there were rent arrears and damage to the property)
6. There were several other mistakes the landlord made at the start of the tenancy with regards to certificates and paperwork as well (but these weren’t mentioned)

What they did right:
Seeking advice as quickly as possible

Landlords are often incredibly embarrassed and ashamed when things go wrong with a tenancy and often feel incredibly isolated but, it’s happened to thousands of landlords. The best thing you can do is seek advice as quickly as possible.

It’s great when people self-manage their buy to let investment but it’s only worthwhile if you do it properly and understand EXACTLY what is expected of you.

I’m happy to report that said landlord did seek legal advice and did manage to get the tenants out. We now manage the property for them so they can sit back, relax and enjoy the monthly rental income (which is guaranteed!).
If you have had issues similar to this, please feel free to get in touch to see how we can help. It is incredibly stressful and you don’t have to carry the burden on your own.
We’d love to hear from you 02477 674545

Is your Nuneaton buy to let attractive to Tenants?

One of our tenants has decided to move out because they need a bigger place due to their expanding family. I’ll be sad to see them go but, said I’d help in any way I could to help find them somewhere to suit their family’s needs (because I’m just nice like that).

So, I got to looking at some properties to rent in Nuneaton and was pretty surprised by the condition of some of them and it got me thinking how much rent landlords are missing out on because they don’t want to spend money making the place look a little more modern and attractive. Yes, they might be an accidental landlord and just not have the cash to inject into the place or, they may just be quite happy paying a low mortgage, getting a decent enough rent and letting the money come in each month.

Me, personally, I like to ensure my properties are done up to a certain standard and we also choose to work with like-minded landlords when it comes to the properties we manage.

If I let a property, I always ask myself the question, “would I be happy living here?” Or “Would I be happy for my son to live here?” It doesn’t have to be a palace (although that is what I’m accustomed to….in my dreams!) but something light, airy, spacious, clean, modern enough not to be embarrassed to invite friends over etc.

The condition of the property also reflects the rent that you will get for your Nuneaton buy to let investment. Now I know most of you are thinking “well duhhhh, of course” but you’d be surprised how many rental properties that we have been to, valued according to its condition and the landlord has said, “well the one down the road gets £95/month more rent” and I have to politely explain that the one down the road has a new kitchen, more modern bathroom and doesn’t have a brick featured wall and fireplace in the lounge, is freshly decorated and doesn’t have carpets from the 60’s. The rent reflects the condition and there’s no doubt about it.

Here are a couple of properties that I have found to explain what I mean…
£675/month
£595/month

Those of you who know Nuneaton and are thinking “well these two are in different areas”, yes they are but, there’s nothing stopping the Heath End Road house getting a much higher rent if it was more modern.

The condition of your property also reflects what type of tenant you will attract so, keep this in mind.

If you get a good agent on board who will, not only assess the suitability of the people who apply but use their instincts to find you the right tenant, do regular inspections and keep up with any maintenance work (which should be minimal if you’ve done things to a decent spec) then your property will be in good hands.

If you have any questions about this article or are looking to let your Nuneaton property, please feel free to get in touch and we’d be happy to come and advise you on value as well as what improvements could be done (within your budget) either now or over time. We’re just by the train station in Nuneaton or alternatively, you can call us on 02477 674545

It’s been a pleasure as always folks. Until next time…