Popular Properties

My agent says it’s a bad idea, but I want to buy a four bedroom flat? Why shouldn’t I buy student accommodation on the outskirts of town? Why are some buy to let properties more successful than others? Choosing the right property type is an essential part of being a successful landlord. This ibuytolet guide talks the would-be landlord through the basics of popular property.

Choosing the right buy to let property for the area you wish to buy is likely to determine how much of a success your buy to let venture is. Research is absolutely essential before you commit to a property, taking particular notice of location, type and state of the property for sale in your area and price range. Don’t be swayed by your personal taste, you should be looking for properties that are in demand in the local area. Not only that, with the help of an experienced agent you should be able to assess future demand.

There is considerable variation in desirable properties across the country. For instance, one-bedroom flats may be in demand in some areas but not in others. Although you should leave personal taste aside, it is worth asking yourself what it would be like to live there. Imagine the questions you would ask before renting a property: can you park nearby? Does the house have shops nearby? Is transport convenient? What is the area like, both in the daytime and at night? Are there particularly attractive features? Buy to let investors have traditionally bought up properties of a certain type to get the best returns. Terraced houses and one/two bedroom flats are common.

Any property you choose should be refurbished to a high standard, because tenants are likely to make a judgement quickly. Modern bathrooms and fitted kitchens are two things that can easily rent your house for you. Although many tenants prefer unfurnished properties, some items should be included as standard. These include showers, fridges and a washing machine. Money spent in refurbishment can reap substantial rewards in rental yield.