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Raby Terrace, Chilton, DL17 0JD - 10% Rental Yield

£60000.00

 

Raby Terrace, Chilton, DL17 0JD - 10% Rental Yield

£60000.00

or call: 01483 663001

Refurbished and Tenanted 2-bedroom mid terrace house.

The property is freehold.

The property briefly comprises of entrance hall with stairs to first floor, 2 reception rooms and Kitchen.

First floor landing, 2 bedrooms and bathroom. 

The property is in a good area for rental properties and for first time buyers.

EPC Rating C

Refurbishment Work. 

The pictures used are an example of the finished work as the refurbishment is still in progress.

We will ensure that this property is to a minimum of the Durham Decent Homes Standard  and also to the current Selective licensing conditions (durham.gov.uk) and as part of the sale we will also provide a warranty to cover any snagging issues on these items free of charge within your first 6 months of ownership.

Rental figures

This property can be let at  £5,700 per annum, £475pcm which gives a yield of 10%. To find out more about the management services that we offer please click on the following link - services-provided-by-ready-to-rent                                                                                           

Please note that this property has the option of being sold with a 6 year lease in place with a local housing provider!

  • The 6 year lease will be guaranteed for approximately £525 pcm,  £6,300 per annum, which equates to £37,800 over the 6 years!
  • During the lease period the leaseholder will pay the council tax and utility bills, plus any tenant damage, so the property will be returned to you in its original condition less any reasonable wear and tear at the end of the lease period.
  • To secure the lease an extra £5,500 work will need to be done on the property to include extra work such as - 
    Fire Doors & Digital locks 
    Emergency Lighting
    Smoke alarm in every room
    Oven and hob
    Fire blankets
    Plug sockets at the ceiling level in every room for their camera system
  • As the landlord for the property, you will still pay the standard management fee for us to manage the property for you to make sure all the certificates are kept up to date and be the first point of contact for any maintenance issues, and you will be responsible for the any payments to maintain the property following the 6 month warranty period that we offer to cover any snagging issues following the refurb.

Please let us know when you enquire about this property if you are interested in this option.  It has been popular for other landlords in the past.

For more information please click on the following link - https://www.readylet.co.uk/blog/6-yr-guaranteed-leases-with-red-supported-living-a-community-investment-company