adonaghy Posted July 3, 2011 Report Share Posted July 3, 2011 Hi, im new to forum and looking for advice. I have been considering buying a BTL property in the Glasgow East area near to where i live and work. I became an 'incidental' landlord as I retained a property I owned when I bought a new home with my partner. Seemed an ordeal at time to keep my old house, but it let out very quickly. Its a 2 bed mid terrace. I am considering remortgaging this house to buy a house/flat as the forthcoming Commonwealth games may boost the area. I intend it to be a 10-15 year investment. Any advice on whether the games will have a good/bad influence on BTL market in the long run? Thanks Ann Link to comment Share on other sites More sharing options...
Richlist Posted July 3, 2011 Report Share Posted July 3, 2011 Any advice on whether the games will have a good/bad influence on BTL market in the long run? Just as with other major sporting events such as Wimbledon & the Olympics the C/Games will afford local home owners with an opportunity for short term lettings at a premium price. The draw back with this type of letting is that the tenants nearly always expect the property to be very well equiped and fully furnished to quality/ good hotel standards. But the opportunity is only a short one......probably just a few weeks .......and will in my opinion offer no long term benefit to landlords. Link to comment Share on other sites More sharing options...
Melboy Posted July 4, 2011 Report Share Posted July 4, 2011 I can speak for Weymouth, Dorset where the Olympic Sailing venue is going to take place. Rental prices for the 2 weeks of sailing of any property will be exceptional high but after that will fall back to normal. I have friends who have rented out their 3 bed cottage home for the 2 weeks at £1000 per week. Paid and booked already by a professional couple whose Son is competing in a sailing event. I am told that this sort of money figure is being achieved fairly easily right now. So with that in mind and your long term bet of 10 years I doubt whether the Commonwealth Games will be any different to Weymouth and should not influence your decision. Mel. Link to comment Share on other sites More sharing options...
adonaghy Posted July 4, 2011 Author Report Share Posted July 4, 2011 I can speak for Weymouth, Dorset where the Olympic Sailing venue is going to take place. Rental prices for the 2 weeks of sailing of any property will be exceptional high but after that will fall back to normal. I have friends who have rented out their 3 bed cottage home for the 2 weeks at £1000 per week. Paid and booked already by a professional couple whose Son is competing in a sailing event. I am told that this sort of money figure is being achieved fairly easily right now. So with that in mind and your long term bet of 10 years I doubt whether the Commonwealth Games will be any different to Weymouth and should not influence your decision. Mel. Link to comment Share on other sites More sharing options...
adonaghy Posted July 4, 2011 Author Report Share Posted July 4, 2011 cheers, thats helpful Link to comment Share on other sites More sharing options...
kerbut Posted July 5, 2011 Report Share Posted July 5, 2011 Yes I can vouch for Weymouth , I have a friend who has an old Coastguard cottage on the side of Portland Harbour who has a signed contract for £1500 per week and another friend has a block of flats at Greenhill ,Weymouth overlooking the bay which he has let the top floor to a TV company . He is paying for the tenants of the 2 flats to go on holiday and giving them a %of the rental. Link to comment Share on other sites More sharing options...
YesAdam Posted July 26, 2011 Report Share Posted July 26, 2011 If your looking at 10-15 year investment then don't make your decision on a short term event such as the Games. Link to comment Share on other sites More sharing options...
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