Well, thus far October has proven to be an incredible month for the Medway rental market. We have let three out of four flats in one Gillingham property before the building work had even been completed. And in another Gillingham HMO we have let four rooms in a six-bed homeshare to doctors. Doctors? Yes that is correct, doctors. The common misconception is that HMOs are only for student lets and this absolutely disproves that theory. As you can see from the quality of the renovation, this property would make a wonderful home for anyone. The high spec kitchen and newly carpeted, spacious rooms make it desirable to any number of tenant markets, many of which can be found in the Medway towns. In this particular area of Gillingham, key workers such as doctors and nurses are by far the biggest potential market looking for quality, affordable housing. You can take a full look around the renovated property via this link: Windmill Road, Gillingham
The Matterport technology used to produce this virtual tour gives an unrivalled view of the property without ever stepping foot inside. This allows us to market and let these properties without the necessity for any physical viewings, although depending on the tenant they may prefer a traditional viewing. At the moment we have around sixty HMO rooms available but they are filling fast! My staff are rushed off their feet and are more than deserving of some down time this weekend.
Down time is something that many business owners struggle with. Whether by choice or necessity, business ownership requires a lot of hard work. It doesn’t come with fixed hours and a reassuring salary, although of course there are benefits. But even the most successful person can sometimes fall short of taking care of their physical and mental health. World Mental Health Awareness Day was a reminder to everyone to do exactly that – take care. And as an ex Samaritans volunteer, that is something I was really keen to pass on both to my staff and my tenants. So we have put up Samaritans posters in all of our managed HMOs. It’s only something small but the welfare of our tenants is important to us and sometimes a small change can have a big impact.
I spend a lot of my down time reading. Although often still related to business and property, it’s something that keeps my mind focussed and boosts my confidence when making business decisions. I do deem myself a local property expert for the Medway towns, so I was interested to read that The Advertising Standards Authority felt the need to issue some guidance for estate agents, clarifying what constitutes a local property expert. The statement said that the term local property expert is widely acknowledged to refer to an individual’s “local knowledge and the geographical area they cover, rather than their physical location”. They suggested it is locality that is the question, saying that knowledge and experience of a defined geographical area is not the same as a physical presence and actually, this is something I agree with. There are a great deal of online companies that are earning a good revenue as ‘experts’ without specialising in a specific area. That is what I am trying to avoid. The franchise model I’ve created for Home-Share empowers experienced and knowledgeable property experts in a set area, to legitimately call themselves a local property expert because they are on the ground in that locality. I live in Medway, I breathe the air, I walk the streets and I have extensive knowledge of the properties within it, so I can reassure you that I know Medway. And similarly, my franchise manager for the Bexley borough, Benjamin Campbell, has the same level of expertise in his area.
So – as your local property expert for Medway – what I can tell you is that there is strong tenant demand in Gillingham right now, making it a great investment hotspot if you are looking to get involved for the first time or expand your portfolio.
And if you’re not already subscribed to my blog, do it now because that is how I will keep you fully apprised of all the latest property news, landlord guidance and investment opportunities in and around Medway. You can always contact me directly on 07944 726676 for free Medway property advice. I’m quite handy with book suggestions too!