I purchased a property from Readylet in 2021. This was a so supposedly a fully refurbished property that came with a tenant managed by the company. I had nothing but problems with this company from start to finish. Readylet sell you this dream that you will be buying a property that will be fully refurbished and all will be taken care of with the tenants afterwards. This is far from the truth and my experience showed me is all they care about is making a quick buck and do not care about your property and the state it is kept and left in by the tenant. During the refurbishment works prior to the sale, they cut corners everywhere (masking up damp with paint, not skimming behind radiators, not fixing damaged walls, putting floorboards on broken floor, etc). Because I lived a good 5 hours away from the property, they thought the deal would be concluded with only pictures of the work and I would not visit the property to see the refurbishment works. It’s only when I visited the property myself that I could see where all these corners had been cut. I had to push hard for basic things to be done and had to write to the company director.These are the issues I had with Readylet whilst they were managing my property. There was consistent shortfall in the rental paid by the tenant (always paid but on the tenants terms). After a year and a half of this happening, I decided to visit my property to see what was going on. During my visit, I noticed the tenant had a dog in the property and smoked (strong smell throughout the house). There was also mould everywhere because the heating wasn’t being turned on and windows weren’t being opened. Readylet did not disclose any of this until I myself witnessed it during the visit. This shows there were no inspection visits being undertaken or if they were, information was being withheld from the landlord (I was not made aware of these things prior to the tenants moving in and nor where these agreed in the tenancy agreement). There were excessive charges put on by Readylet without much explanation. An example of this is being charged £210 for “cooker electrical call out”. When I challenged this and asked for more details, they hid behind GDPR and said they could not disclose the invoice of their contractor. They could not even tell me what was wrong with the cooker that would require such an expensive fix. To be charged this extortionate amount in Ferryhill for a property that was supposedly refurbished only a few months prior seems very suspect. When the tenants left the property, it was left in a terrible state with damage and rubbish everywhere (see pictures). Readylet had allowed the tenant to leave the property in such a state without even taking a deposit. When I asked why they didn’t take a deposit, they simply said “we do not take a deposit”. What kind of managing agent doesn’t take a deposit and allows a tenant to leave the property in such a state. When I showed Readylet the damage and rubbish left by the tenant, they simply brushed it off as general wear and tear and refused to help with clearing of the rubbish. Only one set of house key was returned and the remote for the garage door was also not returned. I have now had to spend over £5k in getting my property refurbished and getting the rubbish removed (after only 18 months of it getting refurbished by Readylet). Readylet washed their hands of any responsibility for these damages and the way they managed my property and the tenant. I would strongly urge people to stay away from this company and look elsewhere if they wish to invest. Besides, their prices have gone up so much and the yield offered has gone down substantially. It really is not worth investing even without these issues due to constant unexpected costs and low rental income.
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At Readylet Properties, we specialize in offering high-yield, ready-to-let properties in the North East of England. With rental yields ranging from 8% to 12%, we provide an excellent investment opportunity for those seeking stable and lucrative returns. As a family-run business, we understand that every investor has unique goals and reasons for wanting to invest.
Our properties are carefully selected for their potential to generate high rental income, providing investors with an effortless way to grow their wealth. Whether you're a seasoned property investor or new to the market, we take the hassle out of property investment, ensuring your capital works efficiently for you.
With a focus on quality, service, and long-term relationships, we are committed to helping you make the most of your investment in the North East property market. We aim to deliver peace of mind through secure, high-yield investments that meet your financial goals. Trust Readylet Properties to provide a seamless, rewarding property investment experience.
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