Motivation Indicators are crucial tools used by investors to pinpoint potential great deals. In Property Filter, our aim is to highlight these indicators or ‘pain points’ of vendors, which are often signs of motivated sellers. This strategic focus helps investors make well-informed decisions.
Property Filter is designed to streamline the efforts of investors by strategically identifying motivated sellers, thereby reducing the need to sift through hundreds of prospects. Our goal is to help you achieve more with less effort.
Short Lease
Residential leases for flats. Maisonettes, and some houses, are usually granted for an initial term of 99 years or more.
Once the lease term has expired, the ownership of the property reverts back to the freeholder unless the leaseholder obtains a lease extension. A property with less than 80 years left to run is regarded as having a ‘short’ lease.
Let's Analyse
Consider the following example: a property with remaining lease of 54 years, This scenario presents specific considerations for potential buyers, especially investors, regarding the status of the property needing lease extension.
Property Filter Action:
1. To identify short lease properties, just click on short lease motivation indicator.
2. To set up the short lease motivation indicator, click on the filter's access button.
3. Adjust the remaining years, to minimum of 50 to Maximum of 80 years. This will help you filter properties that in need of lease extension.