Property Sourcing

Investing in Leeds Residential Property

Leeds is well known as a BTL Investor hotspot. A recent report by Totally Money stated that Leeds was the UK's highest yielding area with average gross yields of between 8% and 10%.

Many Investors who originate from the South and South East of England are investing in property in Leeds to gain maximum rental yields that are almost impossible to be found in the South of England.

Who our Property Sourcing service is for

Our Property Sourcing service is designed to help you make the most of your investment strategy and take the hassle out of finding your next property. Whether you're from out of town, just starting out, or a busy property professional who needs hands-on support, we can help. We'll do the legwork, putting our network and knowledge to work to find the property that is right for you.

As an Investor, you may be looking to invest in residential property in Leeds, but do not live in Leeds. Without an up-to-date understanding of the local market it can be hard to know which areas to invest in, what size of property, and what standards you must provide to maximise your rental returns. We can be your eyes and ears on the ground and provide you with all the insight and local knowledge you need.

You may be starting out as a Landlord / Investor and need some guidance, or perhaps you are an experienced Investor, but too busy to property source for yourself. Either way, our local expertise can help you build a quality residential investment portfolio in Leeds.

We can source a range of properties depending on the investment strategy. If you are seeking a straightforward ready-made investment with minimum fuss, we can find opportunities that are pre-packaged and pre-let. Alternatively, we can source empty properties, or ones in need of refurbishment. Whatever your situation, Let Leeds is on hand to provide a full 360 degree service from initial sourcing and sales, through to lettings and management and all the way through to HMO licencing and project managing of a refurbishment.

Our Property Sourcing service includes:

  • It all starts with a one to one consultation over the phone, video call, or face to face over a coffee, so that we can get to know you and understand your requirements.
  • We'll then help you choose a property investment strategy, discussing criteria such as investment capital, gross yields, risk profile, exit strategy and timescales.
  • We will ascertain the types of property you wish to invest in and create a clear understanding of the budget, area, size, tenant type, capital investment required
  • We will provide our local expertise in relation to the professional, student and HMO property rental market to match your investment criteria, reducing the chance of you making a poor investment choice.
  • During a 12-week sourcing period, we will provide you with a total of 8 investment opportunities matching your investment criteria, both on and off the open market, and provide you links to potential investments.
  • If you prefer, we can conduct viewings on your behalf as and when required
  • We can create an outline plan where necessary to include refurbishment costs, HMO considerations and guides on expected rental returns.
  • Once you have made a decision, we will assist in negotiating the deal with the agent or seller on your behalf.
  • We can provide assistance and guidance during the sale progression where required, as well as key collection and holding service on completion.
  • Our full 360-degree property service will allow us to ensure your new investment maximises its potential. Our service can include project managing refurbishments, HMO licencing applications, listing the property for let.
  • Please note we can NOT provide Tax, Pension or Financial advice in relation to your property investments and strategy.

'On' and 'Off' Market Opportunities

An 'On-Market' opportunity would be a property we have sourced that matches your investment criteria, and typically, the property is advertised on the open market, and listed on portals such as Rightmove.

Let Leeds will be your local property expert, conducting viewings on your behalf with local agents across the whole of the market to identify properties which meet your investment criteria.

An 'Off-Market' market property deal relies on our network of current Landlords, Investors, developers and local agents. We can source a range of properties depending on the investment strategy, be it a professional rental, a HMO or student let. Some investment opportunities may be pre-let creating minimum fuss for you as an Investor.

Some opportunities, whether 'On' or 'Off' Market, may take further consideration, and there may be more risk attached. Careful consideration must be given to seasonal letting periods, Article 4, and cost of refurbishment. Let Leeds will always provide honest advice as well as expert lettings advice.

Once we fully understand your property purchase criteria, our property sourcing service generally covers:

  • An ongoing, rigorous search for properties, both on and off the market, which match your investment criteria, providing you links to potential investments
  • We will, over a 12-week period, send you up to 8 potential investments
  • If you are happy with any of the opportunities we present, we will then arrange to view the property on your behalf
  • We will then feedback our thoughts, based on rental returns, furniture and any refurbishment costs required, and whether there are any risk factors to consider including building issues, rental or location issues or any article 4 and HMO regulations
  • Gain quotes for any necessary refurbishment or upgrade costs
  • Once you are happy, we can liaise with the vendor or selling agent to negotiate an offer to purchase, and advise on terms of the sale
  • We provide assistance and guidance during the sale progression where required
  • Key holding / collection service on completion
  • Start work to ensure the property is ready for either let/ or refurbishment

Property Sourcing Fee

On instruction we will ask you to sign a Property Sourcing Agreement, as well as providing personal details and ID for Anti-Money Laundering purposes as well as proof of funds and proof of mortgage in principle, if applicable.

Our charge will be £2,500 inc VAT, on each property we source for you. Our invoice is provided to your solicitors dealing with the sale to settle the invoice on completion. £1,500 is payable upfront on instruction of the Property Sourcing Service. The final £1,000 is then invoiced to your solicitor to be paid upon completion.

We offer 6 months free management at the beginning of the management contract once we take over management of the investment property. Our ongoing charges for letting and managing your property range from 10% to 15% depending on your service requirements.

If you would like us to provide a property sourcing service for you, please call our Sales and Student Team on 0113 322 9324 and ask for Annabel or Neil.

Property Sourcing Terms

  • Property Sourcing fee is £2,500 (inc VAT)
  • £1,500 is payable in advance and must be received by Let Leeds in cleared funds.
  • Let Leeds will provide 8 on and off market investment opportunities matching the Investor's criteria during a 12-week period.
  • In the event that the Investor does not proceed with any of the opportunities presented, the Property Sourcing Fee shall not be returned.
  • The remaining balance of £1,000 will be payable to Let Leeds upon exchange of contracts.
  • It is the responsibility of the Investor to ensure that sale and purchase of the Property completes within 12 weeks from the date of offer agreed, unless agreed otherwise in writing.
  • It is the responsibility of the Investor to make reasonable enquiries and to inspect all relevant documents concerning the Property including, but not limited to, any existing tenancy agreements, covenants, restrictions or any other matters concerning the Property.
  • Let Leeds uses all reasonable efforts to ensure that the marketing material concerning the Property is accurate, up to date and complete at the date of publication.
  • Let Leeds makes no warranties or representations as to the accuracy of such information and buyers should rely on their own investigations and inspections.
  • Let Leeds accepts no responsibility to the extent permitted by law for any errors, omissions or inaccuracies in any marketing material concerning the Property.

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