Original rental yield: €0
Current rental yield: €12,000
This one bed property, set in a small gated development, had been badly managed over years with rents being delayed or missed entirely. The tenants ultimately abandoned the property leaving a large amount of rubbish, rent arrears, damage and substantial unpaid utility bills in their wake.
Able Property Services carried out a full inspection and immediately replaced the locks and secured the property. The gas and electrical supply was re-connected and certified by qualified technicians and the property was cleared of rubbish and thoroughly cleaned. The apartment was then painted throughout and inexpensive furniture and accessories were sourced. Following a market analysis, the property was let within 5 days. As the owner of the property is a ward of court, Able Property liaises with the Executor on all aspects of the letting and maintenance. Reliable and long term tenants were secured and all compliance issues adhered to including fire safety, PRTB and BER. In addition, Able Property has brought the NPPR, Household and LPT taxes up to date. There is now a regular income stream emanating from the property which is held in trust by the Executor.