Letting A House Across The Road From A School?

AlexMac

My godson lives next door to a school like this so they are hoping to get best price; although they're selling... So you might be lucky.

So, either

- take a few days off work to sort the "abuse by a previous tenant"; internally re-decorate, clean throughout, stick some nice plants out front, clean or regrout tiles and replace any really battered flooring (or lay laminate for £100-150 a room) then put your (much more attractive) property on the rental market (but maybe a bit late for the coming school year?)

- Contact the Local Council and Housing Associations locally to see if they will take it on as social housing? I did, and I got close to market rent, but with the big plus of no voids, no managemnt costs, no hassle (they repair and comission and pay for gas checks...). So better than an average BTL where you get voids every year or so, with costs to find, set up the tenancy, deposit etc . OK they may request features like a reliable boiler, extractors and hard-wired smoke detectors... But still a great deal; I've not had to think about it for 7 years!

need_an_answer

Some tenants might be prepared to pay a little more to live near school for their children,but its not a given that you will achieve a higher rental price than anything else in the area...

If the going rate for a good quality property is £650 then expect to get that figure the proximity to the school shouldn't make much difference other than you are more likely to attract a longer term tenant as opposed to a professional who just wants to rent for a year

Your "benefit" from this is potentially not a higher rent,but a longer more stable tenancy if you opt for a family who have children at the school.

Comms69

FreshFruit wrote: »

It's a 3 bedroom property with a large front garden and average/small-ish rear garden, enough to sit outside and have a BBQ with 5-10 people in comfort, 3 decent sized rooms, 1 bathroom. The property itself is a little bland and has been abused by a previous tenant. The last tenant was paying £550 a month but they were 'mates rates' and I believe the house alone could have fetched £600 quite easily.

One thing about this property, it's literally across the road from a school, it's near the end of the road (dead end road) but it's about a 30 meter walk to the gates, the school is a primary school (up to 4-12 I think?) and is rated 'outstanding' by offsted, the highest rating. There's also a church on the road very close with no bells/chimes. It's in a really quiet spot and the only busy times are school term times when its pickup/drop-off time, otherwise it's got almost 0 foot and road traffic. Has a driveway for maybe 2 cars as well...

To the best of my knowledge it's worth at least 120k and probably a bit more but there's been no sales activity on the street in a long time. Rightmove estimates 135-155k but i'm not too sure about that...

Anyway. I've got it in my head that there's a family out there that would pay handsomely to live a stones throw away from their kids school, if the house was to be renovated (new carpet, bathroom, kitchen, almost everything) and assuming the house alone could fetch £650 on a normal street, how much more do you think could be achieved given it's location?

Anyone had experience with homes located close to schools? Posting from UK.

If the avg rental is £650, then it's £650.


You 'may' get more, but I have lived opposite my kids school and found it to be of no real benefit to moving a few streets away.