Landlords: How to pick the perfect investment property
Prospective landlords must do their homework - Credit: Getty Images/iStockphoto
Buying to let can be a complex business. Landlords are advised to follow a few simple steps to ensure they make the best investment possible.
Allison Thompson, managing director at property specialist Leaders, says: “Recent research shows buy-to-let is still the best investment option in terms of overall return.
“Rental demand for all types of properties is already at an all-time high and experts predict that up to a quarter of all households in the UK will be renting by 2025.
“As such, it is no surprise that investors remain extremely keen on property. But that is not to say every home presents a lucrative investment opportunity, so prospective landlords must do their homework to ensure a property will deliver the return they are looking for.”
Allison has identified five factors every landlord should look for in a property before buying to let:
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1) Local employment opportunities
Proximity to a number of employers will open up a wider pool of potential tenants.
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2) Excellent transport links
A nearby train station or motorway network broadens a property’s appeal. Avoid remote areas and focus on investing in a well-connected part of town.
3) Quality of housing
A good looking, well-maintained property is more likely to achieve higher rents, longer tenancies and fewer voids. Buy the best, or consider refurbishing.
4) Attractive local amenities
Proximity to shops, pubs, restaurants, schools and entertainment facilities should increase demand – and the potential for capital gains.
5) Meeting local demand
Consider your market – houses with many bedrooms suit the student market while a stylish apartment may be better suited to young professionals.
Get your buy-to-let project started today by visiting Leaders’ Property Investment Hub – a dedicated portal featuring available investment properties and, in many cases, full rental histories.
