Which Property is Best ?

Experienced landlords tend to need very little guidance in this matter, but it is a question that we are often asked by new landlords.

There are several important factors to take into consideration when choosing a property, firstly you must always remember that you are buying a property to rent out, not to live in yourself. What are important factors for your personal housing needs may be totally irrelevant to the mass market that you need to appeal to.

Location is always important, look at local employers, are there large factories, hospitals or factories nearby perhaps. Transport links can be vital if the property is out of town for example.

Property condition is another factor to consider seriously, a new property will need far less maintenance than an old property. A well decorated and presented property will always attract more interest than a tired and scruffy looking one.

Look at the rental market in the area that you are considering, is there a shortage of decent property to rent, or perhaps there are too many. Please remember that an empty buy to let property is a financial millstone around your neck, the lender will require you to make a mortgage payment each month, an empty property is no excuse for non-payment.