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…

Nuneaton HMO’s are growing increasingly popular…Have you got the bug?

A Nuneaton property, which we recently sourced for an Investor, has just completed. While we were discussing the project management details to transform it into a 5 room HMO, we got to thinking about the rest of our lovely blog readers and thought we would share why, we believe, we are having a sudden influx of calls from investors looking for property in Nuneaton.

Over the past 5 months it has become very evident that investors from near and far (mostly from the Capital) have been contacting us and coming to speak with us about investing in property in Nuneaton. For those that don’t know, Nuneaton is smack bang in the middle of ‘the midlands’ , a small town with a population of around 87,000 with great transport links to the bigger cities such as Birmingham, Leicester and, even London can be traveled to in around an hour by train!
Nuneaton has primarily been a sought after area by investors for your typical 2/3 bedroom terrace houses which would then be rented out to families, however, in the past few months investors have seen the benefits in not only buying here, but also turning said terrace properties which come onto the market into HMO properties.

Here’s the money part:

3 bed terrace property purchase price £130,000 – monthly rent of around £650-£695 PCM = an annual yield of 6.2% ( at a rent of £675).
3 bed terrace property purchase price £130,000 , £10,000 (roughly) spent on HMO licence and making the property compliant /furnishing etc, turning it into a 4 bed HMO by utilizing the front reception room and then charging around £375 PCM including all utilities, per room, giving you an annual yield of 13.8%.

You can see why investors are so attracted to the idea of buying these types of houses at these kinds of prices to achieve these kinds of yields!

If you would like to join our database of investors please feel free to give us a call for a chat on 02477 674545 so that we can understand your requirements in order to be able to help you best.
Not many of our readers are aware (as we don’t like to harp on about ourselves TOO much) but we are able to help source investment properties and project manage the refurbishment as well as fully manage the property to a very high standard giving you peace of mind that your investment is in very good hands….good ‘ey!

What type of property makes the best Nuneaton Investment?


I bumped into an old school friend the other day and he said “Ohhh, I’ve been reading the blog and I wanted to come and talk to you about investing a couple of properties in Nuneaton. I’m thinking of doing it as a little retirement plan for the family. I’ll catch up with you to find out what properties would be best to invest in and we’ll go from there”. Well my friend, this article is for you!

Now a couple of years ago I would’ve said, get a 3 bed terraced at a good price and it’ll be a nice little earner with an annual yield of around 7-8%. Is it still the same now?

Well I got to doing a bit of research and looked at the following property types within a mile radius of Nuneaton town centre: 2 bedroom terrace, 2 bedroom semi, 3 bedroom terrace and 3 bedroom semi. I looked at the cost to buy as well as how much rent they are going for at the minute (I know, you’re thinking “blimey this lady is efficient”. I thought that too!) and this is what I found (please note this research was done 25th April 2018):
CLICK ON THE IMAGE TO ENLARGE IT…

What I was most surprised by in my research was how VERY similar the prices are for 3 bed terraced and 3 bed semi-detached properties. At the minute, the most popular price for both seems to be £149,950.

So this has blown my original theory from two years ago out of the water….or has it?

If someone had bought a 3 bed terraced house as an investment a couple of years ago they would’ve paid, on average, just over £100,000 (based on sold prices in 2016 for 3 bed terraced properties). So if I gave you that advice two years ago and you’re now nearly £50,000 richer, you are welcome!

Despite the average figures as listed above, it’s not to say you can’t still grab a bargain and get a decent annual yield from it. For example, I’ve found a 3 bed Terrace house on Alexander Street (off Edward Street), which is a 5 minute walk to Nuneaton town centre, close local amenities and walking distance to the hospital etc for £107,500. Now it does need a little TLC but it could rent for £625/month (minimum) giving you an annual yield of 6.98%, which is pretty darn good considering the figures above.

So, take from this article what you will. The evidence suggest the yields aren’t great on 3 bed terrace properties, however…and it’s a big however, if you find one at the right price, it could be VERY rewarding because, as we have seen, you get a good annual yield and a decent return on investment…you couldn’t ask for more!

I hope you have found this article useful and it has provided some insight into the Nuneaton property market for you eager property investors. If you would like to discuss anything mentioned in this article or fancy popping in for a chat, we’d love to help. For more info on us and how to get in touch, please feel free to visit out website.

Are you saving money by self-managing your Nuneaton property investment?


I bumped into a couple of our lovely Landlords in town last week and we decided to have a catch up over a Costa coffee (we should really be paid commission from Costa!). Terry and June used our Tenant find service a couple of years ago. As they are a retired couple, they decided they had the time to manage things themselves, which is great.
I asked how things were going with the house and immediately saw on both their faces that the answer was “not great!”. They said “well it’s funny that we’ve seen you today because we were going to pop in and have a chat about finding us some more tenants…and taking over the management for us”.
They went on to tell me that once the tenants had moved in, they had intended to do regular inspections (every 4 months or so) but, when it came time to schedule them in they had unexpected hospital visits (both ok thankfully), family birthday events to attend, last minute holidays…and the list goes on. Anyway, 4 months turned into 6 months, 8 months, 12 months and, before they knew it, two years had passed and the tenants had given their one month notice to leave.
The tenants had been paying the rent each month and had been cooperative when arranging the annual Gas Certificate so, Terry and June just assumed all was well. A mistake that many landlords often make.
When it came time to the check-out June said that she was so upset she nearly cried. They had spent around £4,500 on improvements prior to letting the property and, although the house wasn’t “trashed”, it was not in the same state that it was handed over to the tenants. It was evident that they had been smoking in the property (evident from the smell and yellow staining), the carpets were well trodden and quite mucky (they obviously were a fan of removing their shoes) and they had also noticed a stained patch on the ceiling which indicated a leak somewhere upstairs.
Luckily Terry and June had protected the tenants deposit, however, their inventory was not very detailed and they did not get the tenant to sign the inventory. They knew this was advised but it was just an oversight on their part. Anyhoo, the tenants (who were all lovely and accommodating to begin with) refused to accept responsibility for any of the issues raised and insisted that the full deposit be returned to them. The landlords disputed this with DPS and after months (yes, months) of disputing the matter, they lost and the entire deposit was returned to the tenants.
The reason for this was that the inventory was not detailed enough and there were some things that they did not mention (like the ceiling) and the fact that the carpets were newly fitted etc. The fact that they did not get the tenants to sign the inventory also went against Terry and June who were then left with a grubby house with a leak, no rental income and no funds to claw back for repairs!
The sad fact of property investment is that you often don’t realise how bad things are until it’s too late! Certain things HAVE to be done prior to a tenancy, on the tenancy start date, throughout the tenancy and, if they are not done, the consequences are often pretty horrible but, of course, by then, it’s too late.
Terry and June put it down to experience and they even considered selling the property because of it. However, they know the benefits of investing in Nuneaton property and, in the right hands it can be very successful.
I absolutely admire Terry and June for giving it a go but, it’s not easy. They may have saved themselves management fees in the two years they self-managed but, they worked out that it would’ve cost them just under £1,500 over the two years but it has cost them just over £2,000 to rectify things. They’ve now come to the conclusion that they’d rather pay the monthly management fees and know that everything is in hand rather than worrying that something like this will happen again.
If you have had a similar experience or are considering having your Nuneaton property investment manage, please feel free to give us a call and we’d be more than happy to have a chat with you to see how we can best help.

New networking lunch club goes down a treat with Nuneaton businesses

As our avid readers will know, this is not like one of our regular posts on the blog. However, we felt it was important enough to share in the hopes that it might encourage some local Nuneaton business owners to come along, meet us in person and Network!

We’re really looking forward to meeting some more fantastic people at the next event.

The press release below was written by Linda Ram from Procopy Creation…

Businesses looking to grow and develop, make new contacts and benefit from mutual advice and support are invited to a new networking lunch group in Nuneaton.

The Nuneaton Business Networking Luncheon has been set up to bring businesses together in a relaxed, comfortable and supportive environment where they can make useful new connections.

The new group is being sponsored by Alsters Kelley – one of the largest and most established solicitors’ firms in the region – and QT Homes Lettings, a successful independent sales and lettings business based in Nuneaton.

It takes place monthly at The Fuzzy Duck Pub & Kitchen, where attendees can enjoy a hot lunch and refreshments while meeting new business people from across the area.

Melissa Maycock, director of QT Homes Lettings Ltd, who set up the estate agency business with her sister, Mariam Fraser, four years ago, said: “As a relatively new company we appreciate how lonely it can be running your own business and we’re really passionate about supporting other local businesses and letting them know that support is out there.

“We’ve spoken to so many small businesses who have tried the larger networking events and have found them very intense and formal, with a certain amount of pressure, and they haven’t wanted to return. We want business owners to enjoy our informal meetings as well as finding it useful and enabling them to grow their business.”
Alsters Kelley has offices in Nuneaton, Coventry, Leamington Spa and Southam, offering a wide range of legal services for individual and corporate clients.

The firm’s business development manager, Julie McGarrigle, said: “Although Alsters Kelley is very established in the local area and beyond, we understand the need to continue to build relationships not only to help us evolve and grow, but also to support the wider communities that we live and work in. For that reason, business networking is an integral part of what we do.

“As well as making useful new connections for our business, it means we can also share some of our knowledge and expertise with the small businesses who contribute towards a successful and vibrant local economy.
“We wanted this new group to be extremely useful, but also relaxed. Having it at lunchtime means people can make some new contacts and get helpful tips for their business while enjoying a hot meal during an extended lunch.
“The first event went really well with some great positive feedback so we’re looking forward to welcoming more businesses to the second one this April.”

The inaugural event took place in March and was attended by more than a dozen people, despite wintry weather, who went away with some fantastic new contacts and ideas to implement in their businesses.
The Nuneaton Business Networking Luncheon includes tea/coffee and networking, followed by brief introductions and the sharing of positive news and information relevant to the town’s businesses.

Attendees then enjoy a hot lunch, followed by more networking opportunities and a useful activity designed to help businesses grow and develop.

Delegates at the first meeting were able to share advice and ideas on particular areas of their business that they would like to improve.

Melissa added: “We’re very much focussed on encouragement, growth, support and positivity and we would definitely recommend that businesses come along and see what we’re about. I’m certain that everyone will go away feeling positive about something, whether it’s an idea to implement in their business, or a fantastic new contact they would not have met otherwise.”

Businesses of all types and services are welcome to attend whenever they are able to. The next meeting takes place on Thursday, April 19, from 12.30pm. Tickets need to be booked in advance. More information and booking details are available via the Nuneaton Business Networking Luncheon Facebook page at https://www.facebook.com/NuneatonLuncheon/

Nuneaton private landlords do not panic. We are here to help!


After hearing many a story about landlords thinking of selling up to avoid any implications or fines that may come their way as result of being a private landlord I came across an interesting article , which suggested that landlords could indeed be selling up their buy-to-let investments due to increasing burdens on them in the buy-to-let market. Their findings suggest the number of new properties that came onto the market nationally (for sale) jumped by 11% across the UK as a result. These findings however do not specify if the increase in properties that have come onto the market are in fact residential or current buy-to-lets… so as ever, I suggest we don’t all go into panic mode but instead take the precautions necessary in order to keep your investment!

Those increasing burdens include new tax rules coming in over the next 3 to 4 years and the announcement that all self-managing landlords (i.e. landlords that don’t use a letting agent to look after their buy-to-let property) will soon need to register with a compulsory redress scheme to resolve tenant arguments and disputes; as Westminster wants to heighten standards in the Private Rented Sector.

A few weeks ago I was chatting with a self-managed landlord from Coventry who didn’t realise the other recent legislations that have hit the Private Rented sector, including the ‘Right to Rent’ regulations which came in to operation last year. Landlords have to certify their tenants have the legal right to live in the UK. This includes checking and taking copies of their tenant’s passport or visa before the tenancy is signed. Of course, if you use a letting agent to manage your property, they will usually sort this for you (as they will with the redress scheme when that is implemented).

If you are a self-managed landlord though, the consequences are severe because if you let a property to a tenant who is living in the UK illegally, you will be fined up to £3,000 – this came to a huge shock to said landlord!. That same landlord contacted me last week, and I checked all his paperwork to ensure he was on the right side of the law going forward – and I offer the same to any landlord in the Nuneaton area if you want me to cast my eye over your buy to let matters (and at no cost – maybe just a cream cake to have with a lovely cuppa)
If you are a self managed landlord and feel that the burden and risks involved to you personally with all these changes might be too much, just give us a call on 02477 674545 and we can make the whole process stress free for you, and you can just sit back and enjoy the rental income each month.

Do Nuneaton Landlords need letting agents?


The short answer is that landlords don’t need to use the services of a letting agent. Many landlords decide to be hands-on and undertake the whole lettings process themselves.

I started investing in buy-to-let property ten years ago and I was keen to learn and control the whole process myself. I was wary of entrusting others with what was ultimately my financial future, something no agent could possibly care about as much as me.

I appreciate that other landlords may share a similar viewpoint, wanting to do all the work themselves. I am happy to point this type of person in the right direction, ensuring they approach the magnitude of letting a property in the right way. For example, I would strongly advise joining a landlord association, which goes a long way to providing you with the tools and documentation required to do the job, alongside keeping you updated on the latest legislation.

One major difficulty for today’s private landlord is finding the best tenants in the quickest time possible. Traditional classified adverts have largely made way for an increasingly online society, whereby tenants (particularly the better quality ones) are now using the property portals (e.g. Rightmove) and social media (e.g Facebook) to find their next home.

To help connect Nuneaton’s DIY landlords with tenants, we set-up a Facebook group called ‘Nuneaton Houses To Let, For Sale or Wanted’, which is free for everyone to join and participate in (search for it on Facebook and click ‘join’). It allows landlords to post details and photos of their available properties and for tenants to post their requirements for property, in and around Nuneaton.

For many though, buy-to-let is seen as an investment rather than a second job. These landlords appreciate that a (good) letting agent is better equipped to take on the process as they often don’t have the time, knowledge or inclination to do the work themselves.

For these people, who often lack the hours required to conduct viewings, undertake thorough tenant referencing and keep on top of the admin involved in managing a rental property, whilst staying up-to-date with the ever-changing legislation, they may want to use a letting agent.

A competent letting agent who is diligent, pays attention to detail, treats each property as if it were their own, carries out a rigorous referencing process, makes their charges crystal clear from the outset and deals with maintenance issues quickly should be well worth the fee they charge to a landlord who simply doesn’t have the time or desire to take this on.

If you’d like to talk to me about how to do the job yourself or whether I, an experienced landlord and property manager (and all round superwoman), can help you with the management of your property, please feel free to give me a call on 02477 674545

Japanese Knotweed found in Nuneaton rental property

We recently discovered that one of our rental properties in Nuneaton has Japanese Knotweed growing in the garden. My immediate thought was “ouch this is going to be expensive and potentially very troublesome!”.
I knew from watching various TV programmes how much damage Japanese Knotweed can cause, especially if it gets under the structure of the property. If found on a survey, mortgage lenders won’t even consider lending so it could potentially leave your property with zero value!

What is Japanese Knotweed?
“Japanese knotweed (Fallopia japonica) is a weed that spreads rapidly. In winter the plant dies back to ground level but by early summer the bamboo-like stems emerge from rhizomes deep underground to shoot to over 2.1m (7ft), suppressing all other plant growth. Eradication requires determination as it is very hard to remove by hand or eradicate with chemicals. New legislation now covers its control”- The Royal Horticultural website

What are the treatments?
Herbicidal Irradication- A selection of herbicidal treatments can be sprayed on the affected area. This treatment is often lower on cost but is not always recommended depending on what is found.

Stem Injection- “There are occasions where a specialist company may approve a stem injection methodology where only the Japanese Knotweed plants are targeted leaving all neighbouring vegetation unharmed by the applied herbicides. Unlike foliar applied eradication methods, stem injection targets the application of a controlled quantity of herbicide directly into the core of the plant. This direct targeting of the herbicidal application enables stem injection to be the least insidious method of Japanese Knotweed eradication.” (http://www.ecocontrol.co.uk/residential/)

What is the cost?
Well, like most things, the cost will vary depending on the situation. From my own experience it is costing just under £2,500 for the stem injection treatment, which will be done over two years. A percentage 20-30% is charged per visit so the costs are spread over the duration of the treatment, which doesn’t make it as painful!

Is it guaranteed?
The Company I have instructed comes with their own 10 year, £5 million warranty, which was successful in obtaining over 600 mortgages last year. So, even though I’m not planning to sell any time soon, I know that it’s good for the next 10 years.

This is not something to be taken lightly and please make sure that you DO NOT stick your head in the sand and hope it will go away because it won’t. It will only get worse. No one wants to pay out thousands of pounds for a spot of gardening but I’d rather do that than have a property that I can’t sell!
I hope this is something you never have to deal with (in your rental property or family home) but, if you do suspect, please get it checked out and get a professional company to do the work.

Plans to build even MORE new homes in Nuneaton

We were really shocked (as I’m sure many of you were) to hear about plans to build 220 ‘places to live’ on the grounds of the North Warwickshire and Hinckley College campus on Hinckley Road, Nuneaton.

There were more than 200 people who attended a discussion about the proposed development (hats off to you all). Understandably, the local residents were concerned about several issues such as flooding, increase in traffic as well as other concerns for future students who will not be able to benefit from the sports pitches and other facilities that will no longer be available due to the development plans.

The biggest question raised was, Is there a need for these 220 residential properties???
Those of you who saw my article recently about the other 850 houses due to be built (not far from the college site), will know what my answer would be!

How will this affect the Nuneaton Property market?
Well, in my opinion, local residents wishing to put their house on the market may very well suffer (despite the area and catchment for the secondary school) temporarily due to the proposed plans as well as during the building phase.
I can imagine that most houses in the area will struggle to sell with the amount of New Builds going up. House prices may drop slightly due to an oversupply of properties compared to the amount of demand, which again will impact on local residents who wish to sell their home.

The one plus side to the development is, that if you buy one of these properties on the college grounds, your child won’t have far to walk to college.

I know I had a bit of a rant the other week about the other (mammoth) development on The Longshoot, but I am all for supporting first-time buyers and we all deserve the chance to be able to get on the property ladder. The question is, are these properties affordable for first time buyers and, if so, how many?

Zoopla recently reported that, Nationally “Only 37% of people aged between 25 and 34 now live in a property they own, down from 57% in 2006/07. At the same time, the proportion of this age group who are renting a home in the private sector has soared from 27% to 46%, according to the English Housing Survey, which investigates people’s housing circumstances and the condition of properties in England.”

So, currently BTL investors are benefiting from the millennials inclination to rent / inability to afford to get on the property ladder. From a Letting Agents perspective, we know that there is an incredibly high demand for property in Nuneaton compared to a relatively low supply.

We’ll see how things progress and I will definitely be doing another blog article post development to see what impact it has had. Watch this space!

It would be great to hear what you have to say on the matter. If you would like to get in touch, please email me m.maycock@qthomes.co.uk For any other property requirements (sales or lettings) please feel free to get in touch on 02477 674545 or visit our website

Letting it and getting it RIGHT


We have so many landlords come to us when things go wrong with their tenants. This video aims to help you get it right from the start. If you would like to discuss anything mentioned in this video, please feel free to give us a call on 02477 674 545 or visit our WEBSITE