We do everything so you don’t have to!  We have the necessary experience, time and skills to investigate every appropriate property for sale before we select the most appropriate properties in location we know will let easily for high rental yields, and we refurbish them all to the same standard making sure that they are compliant, offering a 6 month warranty fto cover any snagging issues.

We will also set you up with a trusted management agency who will find you a suitable, fully vetted tenant and look after you property on an ongoing basis.

We help all the way through the buying process and beyond.  This means you have a hands-off investment providing you a steady income for now and in the future.

All costs are included in the price of the property or clearly split out in the proeprty information packs before you reserve the property.

Our builders check out every property before we buy them and we refurbish them, ensuring that all properties meet or exceed the Durham Decent Home Standard, and also the selective licensing conditions (if applicable) and give you a 6 month warranty to cover any snagging issues following completion.  The work we do improves the desirability of the properties and the neighbourhoods, and helps home approximately 10 families in better homes every month.

We are happy to confirm that as part of the refurbishment will also provide you all the documents and information that you will need regarding your property so that you can apply for the selective licence if necessary, this includes ensuring that all relevant certificates are in date.

We also provide a warranty to cover any snagging issues on these refurbishment items free of charge within your first 6 months of ownership.

All properties also come with a tenant as our name Readylet suggests, so you can start earning your rental income withine the first month of ownership! 

Property Prices tend to be around £55 - £80k for a Freehold, 2/3 bed terraced property which includes the refurb and tenant set  with an average of a 10% rental yeild.  Once purchased you will own the property outright.

We ask our investors to purchase with cash.  This is because our standard business model is based on a quick turnaround time between buying, refurbishing and selling the properties, and mortgage lenders would slow down the process plus many have various lending criteria which can include the restriction that the seller must have owned the property for at least 6 months, so to keep our business moving smoothly we find that cash purchases are best,  However, the properties are all standard construction so many buyers have chosen to get a mortgage once they own the property/s to release funds for their next purchase.

Please find some of the benefits of a cash only purchase.
 

 1.The purchase process is quicker so you will be earning your rental income sooner. 

 2.You won't have to pay interest on a loan so you take home more of the rental income.

 3. No exit or arrangement fees or extra legal fees to pay.

 4.You won’t have to worry about losing the property if the lender decides to pull out or change its lending criteria or if the process is taking too long so the seller decides to pull out.

5. You do not need to worry about mortgage rates going even higher in the future or lenders changing their lending criteria and making it hard for you to remortgage in the future.

6. No one else will have a charge over your property so you are in complete control of decisions such as when you wish to sell the property or who you want living in it

 7. Ability to get access to great deals such as the ones we sell at Readylet, which wouldn’t be available with a mortgage purchase!

Unfortunately, we have seen many people make expensive mistakes when buying the properties on the open market and trying to manage the refurbs themselves. 

There are often hidden fees charged by Auction houses and deal sourcers, and non-obvious issues, such as issues with the legal title, electrical issues, damp, and roof work may be required to bring properties up to the standard we gaurentee. 

Also, location is a key factor, the wrong street can be a disaster! 

Readylet Property ltd have the necessary experience, time and skills to investigate every appropriate property for sale before selecting the most appropriate properties.  Our team then refurbishs all the properties so there are no suprise costs to you and most importantly no stress!  Our tenants are all fully vertted and afforability checked and will be in the property within 1 month of your completed purchase.

So to confirm, when you purchase a property with us, the benefits include -

- selecting properties in areas with a high rental demand. 

- the careful and highly skilled examination of the contracts and property for flaws

- refurbishment of the property by our builders before you complete your purchase plus no charge to fix snagging issues for 6 months from your completion date, any adhoc maintenance issues will be dealt with by our maintenance team swiftly and competitively.

-the detailed knowledge of the local area and people, and

-the acquisition and management of suitable tenants.

This means you have a totally hands off investment providing you a steady income for now and in the future.

Yes, ofcourse.  Our experienced Project Manager,  has been working with us for over 20 years, and will happily show you a selection of properties included finished examples so that you can have a good idea of what we have on offer, and will tell you more about the area, and the refurbishment process but he may not be able to show you the properties which are currently already tenanted.

If you would like to visit by train, he is happy to collect you from Durham train station which has regular trains from all over the UK including a direct train from Kings Cross which only takes 3 hrs.  Some buyers also travel to Newcastle Airport which is only 30mins from the centre of Durham so he is happy to collect from there as well.

Please note that we have a lot of interest in the properties so if you wish to reserve anything before your visit to avoid any disappointment, please let us know.

We also have video walkthroughs available of the properties, before and after refurb, for those who don’t have the time, or live too far away for visiting.

Over the years as distant property landlords ourselves, we have come to realise the importance of good tenant and good property management.  It can literally mean the difference between success in your portfolio and failure.  

We understand that you are looking to purchase property primarily to give yourself an income and the majority of our investors want to be armchair investors with little or no involvement in the day to day management of their property.

You can be confident that we understand the importance of selecting the right tenants for the long run, so firstly we only choose properties in areas that can be let out easily and we refurbish the properties to a good standard, which means there is a good selection of tenants to choose from, and we only choose the ones who are most suitable.

Sometimes properties are sold with tenants who are already in situ who were set up be previous owners, but normally Readylet has 3 main types of tenant that we can choose from . way

a) Local tenants – Our management agent pays close attention to applicant history and references.  Financial references, fraud and credit checks, employers and previous landlord references are all taken before completing the process. Deposit held in the Deposit Protection Scheme ensuring peace of mind for both the landlord and tenant.  Many of the tenants are on some kind of benefit as it is still not a very affluent area but all are still eligible for Insurance backed Rental Guarantee.  Most are referrals from our other tenants which works well as they all want nice neighbours. They tend to be long term tenants that have normally grown up in the area with family close by. 

b) Relocate tenants – Tenants that are relocating from the South of England to the North of England where it is cheaper for the government to cover their costs. The tenant gets a relocation package which includes white goods, beds, a moving allowance and their housing costs paid in full for the 2yr period.   For the tenants to be allowed to benefit from this scheme they all have the right to rent in the UK and are affordability checked and vetted and must not have any history of antisocial or criminal activity. The tenant is not able to move properties for 2 yrs once they have accepted the package, because they have agreed with the Council and the Relocation Agency that if they move, they lose any entitlement to benefits.  The tenancy agreement is in the tenants name but the council underwrites the payment of rental, so in the unlikely event there should be a problem, they will step in and pay the rental, so the owner of the property gets the security of knowing their property is rented to a tenant fully supported (financially and practically) by the Council for a 2 year period.  In the vast majority of cases the tenant makes a home of the new property and continues to stay in the property after the 2 year period.

c) 6-year lease with a supported housing charity - They lease the property from the landlord and the rent is paid for the property irrespective as to whether it is occupied or not. They will also pay all council tax and utility bills.  The lease is a 6 year lease which is renewable.  At the end of the lease, the property will be returned to you in its original condition less any reasonable wear and tear.  The rent increases at 5% per annum.

We have a freindly and knowledgeable team waiting to speak to you to findout your goals and answer your questions.  

Once we have spoken and you've looked through the details we can arange a visit for you to see the proeprties and the area if you wish or provide walk through videos if its easier.

We are here to help all the way through the process so its very hands off from your perspective and we normally achieve a property completion with in 6 weeks of reservation so you can start to earn your rental income in no time at all!

Please feel free to give us a call on 01483 663001 at your conevience or just the button below to book a call.

Book a Call

We look forward to speaking with you soon!