Tuesday, January 23, 2007

One Down, One To Go

I received an offer to let one of my two vacant properties which I have accepted. I will arrange for the provisional agreement to lease to be signed as soon as possible (tomorrow if I can manage it). The only work the tenant has requested is internal repainting and minor repair work (all of which needs doing and will not cost much). The rent is slightly (3.7%) more than what the previous tenant was paying for the last six months and 12% above the rent set when the previous tenant first moved in eighteen months ago.

This just leaves me with one vacant property - the most recent acquisition which has been on the market since the refurbishment ws completed last week. I also have another property which will become vacant at the end of February.

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