Can Nuisance Neighbours Affect My Profitability?
Surprisingly so… It is easy as a property investor to forget to check out the quality of your neighbours because you are not living in the property yourself. Yet thinking on this subject I can see how this could quickly impact on your profitability. All you need is one tenant to say to another: ‘I wouldn’t live there the neighbours are horrible’ and it won’t matter how strong the tenancy demand is or how good the rental yields are, if you cannot get tenants to stay, it will be you who is footing the bills. So what do you do? You make sure you know exactly who are investing next to before you put down a bid: • Visit the property more than once – the average buyer views a property once maybe twice before putting down a bid and usually at the same time of day. To gain an accurate perception of whether your potential property let is actually a local hot spot for vandals and drunks, or if your neighbours are noisy, I suggest trying to view the property at least 5 times and at various times
