Property Details: - Type: Terraced house - Bedrooms: 1 - Bathrooms: 1
Agent: Sylvester Properties - County Durham Phone: 01207 653027
Sold with tenant in situ!<br/><br/>This one bedroom terraced home is being advertised for sale with a sitting tenant paying £500pcm, generating a huge yield of 13.3%<br/><br/>Sylvester Properties welcome to the market this one bedroom terraced house, located on Rose Avenue, South Moor. <br/>The property comprises: hall, lounge and kitchen to the ground floor, bedroom and bathroom to the first floor. <br/><br/> Sold with tenant in situ!<br/><br/>This one bedroom terraced home is being advertised for sale with a sitting tenant paying £500pcm, generating a huge yield of 13.3%<br/><br/>Sylvester Properties welcome to the market this one bedroom terraced house, located on Rose Avenue, South Moor. <br/>The property comprises: hall, lounge and kitchen to the ground floor, bedroom and bathroom to the first floor. <br/><br/>Ground Floor Hall with stairs to the first floor<br/>Lounge 12'3 x 11'3<br/>Kitchen 15' x 8'9<br/>First Floor Bedroom 15' x 8'3<br/>Bathroom 7' x 5'9<br/>Outside Front garden and rear yard<br/><br/>COSTS<br/><br/>• Monthly Rent: £500 PCM<br/>• Security Deposit: £500<br/>• Holding Deposit: £115.38<br/>• Minimum Fixed Term: 6 Months<br/>• Council Tax Band: A<br/><br/>REFERENCING AND CREDIT CHECKS<br/>A holding deposit equivalent to one week’s rent is required at the start of the application process. For successful applicants, this holding deposit will be deducted from the first month’s rent or the security deposit, subject to agreement with the payee.<br/><br/>In accordance with the Tenant Fees Act 2019, the holding deposit may become non-refundable if you fail the referencing or credit checks, provide false or misleading information, or do not disclose a County Court Judgment (CCJ) or Individual Voluntary Arrangement (IVA) on your application form or that of a nominated guarantor. Please note that up to 15 days may be required to complete all checks. If you have any concerns regarding the referencing process, you should contact a member of our team before making payment.<br/><br/>AFFORDABILITY REQUIREMENTS<br/><br/>Tenant Income<br/>To pass the affordability assessment, the combined minimum annual income must equal at least 2.5 times the annual rent.<br/>Example: £675 PCM × 12 = £8,100 per year × 2.5 = £20,250 minimum income.<br/>This income may be combined between applicants in a joint tenancy.<br/><br/>Guarantor Income<br/>A working guarantor must have a minimum annual income of at least 3 times the annual rent.<br/>Example: £675 PCM × 12 = £8,100 per year × 3 = £24,300 minimum income.<br/>Alternatively, a guarantor may qualify by holding savings or pension funds equal to or greater than this amount.<br/><br/>Tenants must insure their own belongings.<br/>Tenants are usually responsible for all utility bills and Council Tax.<br/><br/>
