While Medway remains one of the last vestiges of affordable property in the South East; the opportunity to buy a Victorian terraced house continues to be a sound investment.
Whether vetted by an agent or reliant on your own judgment, the correct choice of tenant is imperative to seeing returns on your investment.
All too often I’ve been contacted by a landlord who’s tenant has reported ‘damp’ and yet won’t allow access for inspection.
It’s an unfortunate occurrence, yet an all too familiar one. A seemingly nice, respectable family move in without incident. After a number of months, a report of damp is made; however, it is apparently inconvenient for anyone to visit for the time being.
Invariably the consequences of such a tenancy become increasingly problematic and mostly culminate in a cessation of rent.
Dispite tentative negotiation on your part and perhaps infrequent token payments on theirs (often accompanied with dubious sob stories) you can at this point be fairly certain your property is being trashed under an ever expanding pile of detritus.
Possibly following a protracted eviction, the property is finally inspected. The mould and mildew first reported by the tenants has become an advanced toxic growth spread throughout the property.
Customarily the ‘damp’ was entirely the result of an abundance of wet laundry, limiting ventilation and not using the central heating.
I’ve encountered situations like this more times than I care to remember.
The importance of finding the correct tenants cannot be overstated. I have seen properties literally wrecked from top to bottom including wallpaper so mouldy and sodden that it’s literally peeling from the walls.
It would be inaccurate to conclude that these ‘problem tenants’ fall into a specific category within social stratification; I have observed seemingly pleasant tenants who lives appear to take a downward spiral upon repeated inspections to their homes. I can only speculate as to the problems these individuals are encountering.
In conclusion, if purchasing or in possession of a property that you intend to let, ideally contact a respectable Lettings agency such as:
Rochester Lettings at 178 High St. ME1
Alternatively contact:
Evergreen Residential at 45 High St. ME1
If instead, you decide on a private arrangement with tenants, it’s vital you do your homework and put some thought to the potential pitfalls that may occur as a result.