Buying Ex Council Stock
Buying ex council stock is often a good investment.
Yields tend to be good as the properties can often be bought for less per square foot compared to other property types, but the extra space one often gets means the rents are often higher and therefore so are yields.
Tenants like the extra space and especially the good storage space, which is always so much better than say one gets on new build flats. Also, the sound proofing is always better than with flats that have been converted from houses.
Good capital growth is achievable where there is high demand and not too much new stuff coming on stream.
We prefer houses and maisonettes over flats, but where we buy flats we prefer low rise and preferably properties with their own entrance door to the street (non communal).
We avoid any properties in old mansion style blocks, (pre 1930s) which always are heavy on maintenance and where there are lifts, porters or anything that translates or could translate into high service charges.
Also, be wary where there is dangerous cladding or other materials – but see our other blog posts for more on this.
As always, properties that come with gardens and access to low cost parking will always out-perform too.
Non-British tenants tend to like ex-council properties whereas Brits, especially the more middle class ones, tend to turn up their noses at ex-council property.
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