Case Study: Penarth Road, Cardiff (Terrace Property)

The owner of this 4 bedroom terraced property is a retired woman residing abroad. Due to her location, she could not manage or maintain her property for over ten years. Unfortunately, she had tenants for five or six years who would not pay rent and did not take care of the property. At one point, the landlord managed to secure an agent who said they were renting the property, but never paid her any of the rent.

As you can see, the owner of this property had been in a difficult situation for several years. When the problematic tenants finally moved out, the extent of the damage to the property was seen. There were extensive issues with dampness due to leaks and water damage, and woodworm. As a result, the property could not be rented out again. The landlord was paying a premium on her council tax for the property, because it had been sitting empty for three years.

We were introduced to the landlord as property managers. We viewed the property and assessed the damage. We determined the work that needed to be done, and a course of action to bring it up to a liveable standard. We obtained estimates, and, eventually, instructed builders and tradespeople and commenced a refurbishment of this property.

In addition to the physical damage, we faced other challenges. There was a prohibition order on the property which prevented it from being rented. This had to be resolved.

We presented the landlord with possible solutions for generating income with the property. It could be traditionally rented out, become an Air BnB rental, or be used for social housing. Once the landlord considered these and informed us of her objectives, we developed a plan forward to realise her desires.

We successfully brought the property up to a liveable standard, so the prohibition order has been removed, and we are now putting the property up for rent. We are asking for a rent amount in keeping with similar properties in the local area. We are confident that we will find appropriate tenants to pay the rent, and keep the property in good condition.

After ten years of this property being in a derelict state, we have taken over its management. The landlord is grateful for our intervention, creative solutions, and integrity. This property she has owned for many years is finally in good hands. She has even been able to remortgage it.

High Grove Property Management has been able to turn a hopeless situation around for this landlord, and we can do the same for you. Whatever the initial condition of your property, we can turn it into an income-generating investment. Are you looking for a company that will bear the burden of managing your property, allowing you to live worry-free?

Travel, relish your retirement, or just enjoy your life, free of property management concerns. Leave it all to the experts at High Grove Property Management. You'll be glad you did!