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Rental property in Newcastle upon tyne

I wish to purchase a property for cash somewhere in the vicinity of Newcastle upon Tyne university. I believe Jesmond to be the right location. Am I best to buy the property then use an agent to rent it out or go solo?

Asked on Mar 27 2014, General in Newcastle upon Tyne | Report content

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  • It's really a question of a) how much time you have available and b) how much effort you're willing to put in. And there are endless factors to consider; age/condition of the property - older places will require more maintenance, newer obviously less, your location relative to the property - if you're nearby and don't mind responding to tenant issues personally then that's fine but if you're more than a dozen miles away you're going to get fed up pretty quickly, etc, etc. Employing an agent is appealing for many reasons but their fees will eat into your yield and it can be difficult to find one you trust to do all the work for you at a reasonable cost. Research, research, research...

    Answered on Mar 28 2014, Report content
  • As with all investments there are many questions that you need to consider. If you are adamant that Jesmond is the right area for your investment, it is always worth consulting reputable local agents who are ARLA registered for advice. Suburbs in Newcastle upon Tyne, like Jesmond, are subject to ‘Article 4’ rules which restrict the rental potential of certain properties, so professional advice is very important. Once you have the right property for your target rental market, there are many ways of marketing and managing the property. Sadly there is no simple answer to whether you should use an agent or not. If you do decide to use an agent, our advice would always be to ensure they have are regulated and hold client money protection.

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    Answered on Mar 30 2014, Report content

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