Tungsten Management Group have had a great month. We have 100% rental payment through the portfolio and in Wigan we have our first tenant to request to sign anther agreement for a further 6 months. This is great proof that the tenants are enjoying their time in the newly converted spaces.
We have also been able to increase rents, where we can, in Medway which has helped hugely with the mortgage rises. We are going through a remortgage at the moment with a HMO in Medway. As I have mentioned before we are putting aside the funds from the property business so that this can be offset against the mortgages when they come up for renew. This has meant we have not actively been investing in property at the moment, but the lower mortgage payment will have a direct impact on the monthly mortgage payments.
I am going through the process of a deposit dispute with a tenant who has recently moved out of a BTL. We will be taking the dispute to the My Deposit adjudicator and hope they can resolve the issue. We are pleased to have new tenants who have already signed the AST for this property based on the promised works being completed. They took the property during the first day of viewings which is fantastic and a great relief.
