Original Rental Yield: €8,000
Current Rental Yield: €18,600
The property is a 3-bed terraced house with gardens to rear and front which had not been maintained. There were leaks and damp throughout and consequently there was difficulty attracting new tenants. In 2009, ongoing voids and low rents were a significant problem.
In 2010, Able Property took over the letting and management of the property, and despite the relatively poor condition at the time, was successful in increasing the rents, securing good tenants, eliminating the voids and bringing in a rental increase of €12,600 in the first year. However the property was still badly in need of renovation and when the tenants left in 2011, Able Property were engaged to replace new windows and doors, replace partition boards, repair living room ceiling and fix roof leaks. Work also included re-decorating the interior and exterior of the property and bringing the overgrown gardens back to order. The property is now let continually and the current rental yield has doubled.
