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Top tips for finding the most ‘lettable’ properties

Finding the right property is the biggest hurdle for prospective landlords to overcome when investing in new developments.

The ‘Perfect Property’ study shows that over a third of people are concerned about renting a new property out and 53 per cent thought that identifying where to invest was also a major consideration.

Anthony McKay, COO of Inside Track Group, said: “Owners renting out properties are now under increasing pressure to make sure their properties are as appealing as possible.

“The first and best way to assess areas to buy a property is to check the following three things are strong: investment, communication and infrastructure (ICI).”

So before you invest, take a look at these top tips to finding the most ‘lettable’ property.

  • Avoid rental ghettos – areas where there are already lots of buy-to-let.
  • Look out for urban regeneration programmes.
  • Make sure you are aware of any transport plans.
  • Buy close to shops and other amenities, this attracts tenants.
  • Identify other properties that have had tenants in for a considerable period.
  • Before you put down a deposit, make sure the rent return will cover 130 per cent of the mortgage.
  • Waterfront developments are great attractions for new occupants.
  • Scour the business page of the local paper for news of any major companies relocating to the area.
  • Look ahead five to seven years and think about the area’s long-term potential.
  • Make sure the resale market is strong enough that you can always exit if you need to.

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Date: 13th, July, 2006

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