Top tips for finding the most ‘lettable’ properties
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.
Date: 13th, July, 2006
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