In August 2024, I purchased a property in Easington through a local agency, which was quickly managed by a related management team. Although they appear as separate entities, they essentially operate under the same umbrella, sharing ownership and staff. One focuses on selling refurbished properties, while the other handles management afterward. Unfortunately, my experience with both has been quite troubling. As an international investor, I relied heavily on visuals and assurances from the agency regarding the quality of the refurbishment. The buying process felt rushed, which I initially accepted as normal. However, the next six months turned into a nightmare. Although I found a tenant quickly, I didn’t receive any rental income for the first three months. I was given various excuses – incorrect banking information, delayed payments, missing rent – none of which were valid. My designated contact never replied to my emails, leaving me to interact with different staff members who often provided inconsistent or vague information. When rent finally started arriving after three months, deductions for alleged repairs, like fixing the heating and windows, were already being taken out. This was confusing, given that the property had just been refurbished and was under warranty. Complaints resulted in promises of reimbursement, yet similar deductions continued in the following months, forcing me to repeatedly push for them to honor the warranty they provided. Communication was terrible – slow and unhelpful. Clarity came when a staff member accidentally sent a group email to around 150 clients, revealing their email addresses. We began to share our experiences and found many had similar problems: unpaid rents, questionable repair charges (multiple tenants confirmed no repairs were done), and dubious tenant placements. To make matters worse, the agency withheld my rent for August for six months, only releasing it after I threatened legal action.
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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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