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Where to buy to let

Where to buy to let

Where to buy to let

From the landlords point of view, the most desirable of factors is that there is a continuous tenancy at the property. If there are no tenants, then you, the landlord, will have to pay the mortgage.

Location is an important factor in determining whether your property will be considered desirable by potential tenants.

The safest area to buy in is the town or city where you live. You know the good and bad areas. You have an inside knowledge of employment, traffic and new developments. In addition to your local knowledge, you will be able to keep an eye on your investment.

We recommend that you seek the advice of a local letting agent. The letting agent will know what type of people are looking for accommodation and will know what they are looking for. 
If the letting agent is keen for your business then they will be only to pleased to advise you on location. Try to speak to more than one letting agent. If the advice given is similar then it is likely to be sound advice.

Think about location from your tenants point of view. Local factors may well be important. For example, there is likely to be good demand for property close to Hospitals, Universities or Factories.

If you live in London or another big city then proximity to the tube or bus routes could be of prime importance. 

Some factors are likely to be important wherever the property is situated:

  • Parking: Most people drive, make sure there is space to park.
  • Security: People like to feel safe. What kind of an area is the property in.
  • Leisure: Proximity to pubs, restaurants and sports facilities will all help
    Road links: Are major roads accessible.
  • Public transport: A railway station close by could attract commuters from neighbouring towns and cities.

If your letting agent identifies families or single parents as prospective tenants then proximity of schools may be a primary concern.

It is important to have your property let consistently. Think about this; you are about to enter a marketplace, and your property will be in competition with other properties for your tenants. Which one will the tenants choose - the bright, tidy one in the better position? to let property type