BUY-TO-LET DEAL OF THE WEEK: 4 bed house in Chichester, £300,000, 5.2% yield

Summary:
4 bed house in Chichester
Listed for sale on 19/06/20 @ £375,000
Now = £300,000
Rent = £1,300pcm
Yield = 5.2%

This four-bedroom townhouse close to St Richard's Hospital in Chichester has been on sale since June. In that time it has been reduced in price several times, to now stand at £300,000, which is £75,000 (or 20%!) cheaper than when it was first listed.

It is a similar house to one I highlighted in October as a buy-to-let deal of the week (http://chichesterproperty.blogspot.com/2020/10/Chichester-house-rental-buytolet9.html). It is therefore a similar proposition too; a large, modern, freehold house available in Chichester for a reasonable price, which should be popular amongst tenants and result in a decent yield of 5.2%.

A few things stand out to me from the advert - the fact the headline price is £300,000 and yet the description says "offers in excess of £325,000" is one. Not only is this inconsistent, but I suspect a hangover from the previous asking price of "offers in excess of £325,000"...which proved to be false as it got reduced in price once more (and shows "offers in excess of" is a largely meaningless marketing tool). Secondly, one of the big pluses of the house is it's size...and yet there is no floorplan!? The nine photos don't really do the property and its size justice either, nor show the parking and garage that comes with the property (a big bonus in this street, which suffers from tough parking restrictions).

All in all then, this property could make a great Christmas purchase - be it for homeownership or buy-to-let purposes.

The property is on the market with King and Chasemore and full details can be found on Rightmove via the following link: 

https://www.rightmove.co.uk/properties/71299773

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CRJ Lettings named ‘Best Letting Agent in Chichester’ four years in a row

I’m pleased to say that for the fourth year in a row, CRJ Lettings has been named ‘Best Letting Agent in Chichester’ by allAgents; a respected name in the property industry.

When I set-up CRJ Lettings I did so because I felt I could do a better job of serving Chichester’s landlords and tenants. I didn’t aim to be the biggest letting agent, stretching myself as I moved from one property to the next. Instead, I wanted to be the best letting agent, focusing solely on Chichester’s rental market. I aimed for quality over quantity; working with discerning landlords who appreciate a more personal level of service (and yet at a fair and transparent price).

This meant from day one I have always been most interested in the feedback I receive from my landlords and tenants. After all, whilst lettings may be seen as a ‘property’ business it’s really more about people and personality; because who would you trust to look after your best interests - someone in it purely for the money, or someone prepared to dedicate the time and effort to build a relationship with you such that trust, confidence, and ultimately a smooth transaction will naturally follow?

As a small independent letting agent I don’t have targets for how many valuations I should get, nor do I calculate my conversion rate for signing landlords up to my service. I’ve even told people I’m not right for them if I believe that to be the case (student lets, for instance, is something I don’t normally take on). Providing a quality service gives me far more personal satisfaction than simply focussing on the bottom line of the balance sheet.

It’s nice to pat yourself on the back sometimes, but it’s even nicer when my landlords and tenants do so (how many letting agents actively seek reviews from their tenants I wonder?) I’ve now clocked up 54 Google reviews from my landlords and tenants and 53 reviews on allAgents - all of them a resounding 5-star!

It’s also great that the majority of my newest landlords are coming to me via word of mouth. A personal recommendation is always the best way for you to choose a reputable business. Second to that should be a company’s reviews and testimonials in my opinion - but only if they can be trusted! That’s why receiving this accolade from allAgents means something, what with them being the UK’s largest customer review website for the property industry.

So, whilst I don’t normally use this space as self-promotion, I’m a little chuffed about being named Best Letting Agent in Chichester (again!). Thanks to my great customers, tradespeople and service providers who helped make it possible. 

   

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