When investing in property what are main considerations,
associated costs and outgoings of being a Landlord?
Whether you are considering making a property investment, or you are a new or experienced landlord, Anderton McClements can offer you expert advice, exceptional knowledge and professional service. We’re the right letting agent for you.
What is a rental yield?
Calculating your rental yield will help you understand if your property is a good investment when you are considering a buying a property to let. The rental yield is the revenue you earn from your investment. The value is expressed as a percentage.
To working out a rental yield simply take the weekly/monthly rent to work out the annual rental income, then divide it by the property’s purchase cost and multiply it by 100, so you get a percentage.
Rental yield = (Monthly rental income x 12) ÷ Property value x 100, or £875 x 12 divided by £200,000 (x100) = 5.2%
What is a good rental yield in York?
Anything above 4.8% in York is considered a good yield and a good return on investment. York is a lovely city in the north of England and whilst it is not as cheap as some other places in York, buying an investment property in York has other benefits and attractions to consider alongside the yield which make it a great city to buy.
- Excellent transport links 2 hours on the train into central London and Edinburgh on the main East coast train link
- Well positioned for networks linking to Leeds and Manchester
- Excellent universities
- An attractive, tourist hub steeped in history
- In 2018 voted the ‘best place to live’
- A city offering a mix of Georgian, Victorian and contemporary and ultra-modern living
- Ultra fast internet speeds turning York into the UK’s first ‘Gigabit city’
- Vibrant shopping and nightlife with Michelin star restaurants and a lively café society
When investing in property what are main considerations, associated costs and outgoings of being a Landlord?
- Property maintenance and repairs
- Letting agent fees
- Mortgage interest
- Insurance
- Leasehold properties service charges and ground rents
- Utility bills and council tax during void periods
Landlord – Build your property portfolio
Anderton McClements is intent on providing that all-important personal touch, from initial investment advice, to assistance with the growth of property portfolios, market appraisals and full property management.
