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WHY RENT REVIEWS PLAY A CRUCIAL PART IN PROTECTING YOUR PROPERTY VALUE
If you are an investment landlord you are well aware of Rent Reviews, RPZ’s and Yield but do you know to what extent these have an impact on your property value? While your investment property can always be sold on as a family home using comparables as your method of valuation, if you want to attract an investment buyer getting your property as close to market rent as possible.
LOW RENT, LOW YIELD, ZERO INVESTOR INTEREST
According to the Business Insider, Ireland is the eighth best country to invest in rental property, with an average rental yield of 6.64%.
Taking this average of 6.64% on a typical 2 bed investment property in Youghal, using Rental Yield Calculation three idenitical properties tell three very different stories.
Property 1, Rent Reviews were not actively sought and since the introduction of the Rent Pressure Zone the Landlord has only been able to increase the rent in line with legislation
Property 2, Landlord Review the Actively Sought Rent Reviews yearly or every two years when outside the RPZ
Property 3, Property was not rented in the previous two years and is exempt from RPZ status.
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We’re the largest letting agent in the Town of Youghal in East Cork with access to a vast pool of trusted and reliable tenants ready to occupy your property.
Case Study 1
Approximate Property Valuation
Annual Rent: €8400 (€700 Per Month)
Yield: 6.64%
Property Value €126,507
Case Study 2
Approximate Property Valuation
Annual Rent €11,400 (€950 Per Month)
Yield: 6.64%
Property Value €171,687.
Case Study 3
Approximate Property Valuation
Annual Rent €15,000 (€1250 Per Month)
Yield: 6.64%
Property Value €225,904
WE ARE HERE TO HELP
Bloomfields Property have over 20 years experience in managing investment property. Our agents are here to help. If you need advice or assistance in issuing a Rent.
Disclaimer: The above information is to an example on yield calculations and the importance of issuing rent reviews, it is not financial advice nor should it be viewed as such. Property Investment is a serious commitment and any potential landlord should ensure that they have measured all risks, taken financial and legal advice before investing in property.
"Bloomfields have been managing all of our investment properties since 2002. Their prompt attention at all times, even at short notice on weekends is faultless. Our properties are always kept in an impeccable condition and I would have no hesitation recommending their property services."
"Bloomfields recently took over the management of my apartment after an extremely unpleasant situation with a previous tenant who left the unit in a terrible state. Bloomfields oversaw a highly efficient repair and upgrade of the property in less than 4 weeks and even found a new tenant, vetted, approved and ready to move in at a substantial premium to the previous rent!"
"Bloomfields have been my management and letting agents since 2006, during which time my properties have been continually occupied by high quality tenants. As I live in Dublin, it's impossible for me to make frequent trips to deal with any issues at the properties, and Bloomfields are invaluable in looking after this for me. From advertising and marketing, to sourcing tenants, providing ongoing maintenance. A truly first class service."
Contact
Bloomfields Property Services
Cois Bloom
Quarry Road
Youghal
Co. Cork
Tel: 024 90044
About Us
Bloomfields have built a reputation on providing first class property services in Youghal, East Cork, whilst maintaining your best interests at all times.
We specialise in property sales, lettings, maintenance and management. We manage multi block units such as large housing developments, apartment blocks and individual properties. We also manage a large number of Holiday Homes to an approved 4 Star Standard. Read more about us here.
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