Top 5 things to look for in an investment property
With a quarter of all households in the UK expected to be renting by 2025, it’s no surprise that investors remain keen on property. To help you identify a lucrative investment opportunity, Romans’ Lettings Managing Director, Richard O’Neill has identified five factors every landlord should look for in a property before buying to let.
1) Local employment opportunities
To attract quality tenants, choose an area where big businesses are based or areas with a number of local employers.
2) Excellent transport links
Proximity to a rail station or the motorway network will make a home more appealing to people who need to travel for work, family or social commitments.
3) Quality of housing
With tenants staying in one place for longer, they typically look for quality properties that can be a home to be proud of. Therefore properties which are maintained to a high standard will achieve higher rents and benefit from longer tenancies and fewer voids.
4) Attractive local amenities
Areas with plenty to offer will naturally appeal to tenants. Look for homes that are close to shops, pubs, restaurants, schools and entertainment facilities.
5) Meeting local demand
Working out who you are aiming to let to and buying a property to suit is a must, work with a local agent who understand local demand before purchasing a property.