10 years of Renting out a Property – What’s the Reality?19 Sep 2019
Being a landlord with an investment property is usually a long term commitment. We have been assisting a landlord with some refurbishment works in a 2 bed flat located in Glasgow City Centre, which we have managed for him for 10 years and I thought it would be interesting to look at how that flat has changed over the years.
This flat is not a swanky apartment, it’s basic and always has been, but it’s in a good spot – always popular because students can walk to Strathclyde Uni – and it rents well.
- Rent achieved in 2009 – £495pcm
- Rent achieved in 2019 – £850pcm
There hasn’t been any huge spend on the flat over that time – apart from a new bathroom, but general maintenance and regulatory works have amounted to just over £10,000 which is what we would normally expect.
Check out the before and afters here – its looking fab for the newest tenant who is about to move in!