Good morning landlords, Nick Tart have just marketed this property in Brookside which is currently tenanted for £82,500.
Now, we don't normally have too many properties that are sold with tenants in situ, but I thought this might be worth investigating further, as there are some advantages and disadvantages of purchasing with tenants already in place.
There aren't any internal pictures and the agent is saying that the property would benefit from some improvements, based on this I would be wanting to know if the tenant has asked for any repairs to be carried out, and if so have they been done and when? Also, have the tenants paid a deposit and if so which scheme was it deposited into and what date was lodged. Other questions to ask would be - are there any rent arrears, what type of tenancy agreement is in place to name just a few.
The advantages are that you have a tenant paying (hopefully) the rent so there should be a void causing you to pay council tax and mortgage payments.
As always, if you would like to know more about buying investment properties in the Telford area please give me a call on 01952 306 444 or drop my an email on martin@letwithsignature.co.uk
Thanks for taking the time to read the blog.
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