We always get asked by new landlords and investors which is the best area in Crawley for property investment. Many of them already know that Maidenbower is one of the most sought after neighbourhoods but are put off by the high price of the property.
We have a two bedroom house in Stirling Close, Maidenbower that was sold last month at £230,000. It is tenanted at £950pcm which gives a gross yield of 4.9%, just short of the magic 5% that some landlords consider their minimum.
There are higher yields to be had in Crawley but yield is not the only consideration. For the new owner we collated the rental history from our records and and discovered that in the last 11 years there have been four changes of tenant but the total of the all the void periods only came to 19 days. A property in a highly sought after area like Maidenbower will have a higher purchase price but it is likely there will also be an increased tenant demand. There aren’t many landlords who can say they only lost 19 days rent in the last eleven years.