Beaconsfield Road, Willesden, NW10

Property Background:

A two bedroom first floor flat located near to Dollis Hill Station and Willesden bus garage

Current Market Rent:

If rented as a two bedroom first floor flat the market rent is £1400 – £1500 PCM Gross

HMO Room Rent Achieved for the property:

£2895 PCM

How we maximised on this property for our client:

Managed the process from start to finish for the client by obtaining planning permission to go into the loft and create a third en-suite bedroom giving the property four lettable rooms and subsequently renting these rooms out to working tenants for £825 PCM for the en-suite room, £775, £665 and £630 PCM giving a gross monthly rent of £2895. How this benefits our client: Planning permission and the resulting refurb and loft extension added to the square footage of the property which added an additional £60,000 – £70,000 onto the property valuation and the cost of this work was half this figure. The gross rent is taken from £1500 PCM to a whopping £2895 PCM (an increase in £1395 PCM gross) thus maximising on the rental yield and adding value to the property, limiting tenant void periods, having a product with a constant rental demand as room rents are the next highly sought after letting in the area after two bedroom flats. The property refurb was done to Brent Council Additional HMO standards and subsequently, our Property Management team fully manage the tenancies