Time for a cuppa? 5 Minutes with Danny Marsh

Danny has 12 years of experience in the lettings industry and currently manages the Beresfords lettings department in Witham. We spoke with Danny to learn more about his role, current property trends, and his advice for investors considering buying a property in the Witham area.

The rental market in Maldon is certainly growing. However, the misconception that tenants wouldn't want to live here because it doesn't have a train line is now wrong. With working from home, tenants don't need a train line as much, and the line from Witham is only 15 minutes away, so they can have the best of both worlds. 

Witham is thriving for tenants, with excellent links to London and great access to the A12; however, there aren't enough properties, so it's an excellent time to be a landlord in the area, with higher rents and demand. 

Generally, investor levels have reduced recently due to increased stamp duty and rate of returns, but serious investors who are in it for the long haul are still in the market; some are starting to put portfolios into company names for tax purposes. 

Generally, two-bedroom houses are a popular investment for potential landlords. These are generally low maintenance, have low running costs, achieve good levels of rent, do not have maintenance charges and generally attract a longer-term tenant.

That the regulations are too protective of tenants and that they will not be able to get their properties back when the new regulations come in; however, this is not the case. If the landlord wants to move back in or sell the property, they can still do so. Tenant protection is against rogue landlords who evict tenants for unwarranted reasons. 

Be patient in finding the right property, try to stick with Freehold if you can to minimise maintenance/ground rent costs and try to find properties which have a good quality bathroom/kitchen, and a relatively new heating system. These are the areas that cost most to rectify if anything goes wrong throughout the tenancy!

Location is very important; maintenance/ground rent charges, ensure a thorough survey is carried out. Try to find a property that would attract a long-term tenant, e.g., a house with a garden, if possible, where they could start a family.