Multiple Plots . . .
The other day, I was speaking with one of our clients, Alan, who had visited a site that we sold. I asked him for him feedback because I thought the conversation would be of value, especially for those looking at buying in a development with more than a few plots in it.
“Overall, a first class site overlooking small junior school and open park area. The apartments are sufficiently off the main road yet within easy working distance of main Stockton shops centre and river. Overall much better than I had expected. The business risk as I see it is 20 apartments coming on the rental market at the same time.”
I picked up on his last point as I feel that it's an important one that concerns many people, yet it's vacant properties is of the things that Gladfish clients don't have to worry too much about.
I wrote back:
Even though it's a business risk on my part when we take larger sites, the girls are very good at letting properties. So good that we very rarely pay out on our guarantees now. Since we only ever assign four properties per agent at any one time, this really limits our exposure as well to an area. Additionally, if there aren't enough agents in an area, we simply don't take the properties. I am actually very happy to pay out on the rental guarantee after 6 weeks because normally it's something that we have done wrong in the lettings process rather than anything to do with the actual property itself
I think the important point to take away is maximum 4 properties per agent.
This ensures that we never take too many properties on in any one development. We simply cannot afford this as we would take too much risk when you consider the second part of my email, the 6 weeks to let guarantee. I believe that any property with good solid investment fundamentals can be let out within 6 weeks anywhere in the UK. We've consistently achieved this so your property won't be vacant for any length of time.
Buying through Gladfish means that you are protected after that initial 6 weeks. You can check the full details by clicking here 4 Property Guarantees.
If you want to chat with the team on how this will work for your property then give us a call on +44 (0)207 923 6100.
Live with passion,