What to Look for when Planning to Buy a Rental Property in Edinburgh
There are several factors which a landlord should consider when buying a property with the express intention of renting it out. He will definitely want to invest in a property which will not only give him a good level of rental income but also capital growth. This is the maximum outcome a landlord can have from his property. In order to have this outcome you need to think from a tenants point of view and consider what he would want as oppose to what appeals to you. For example you might like a house away from all the hustle and bustle but there will be little demand of such a property among tenants. Hence when investing in a property for rental purposes you should always look for areas and type of properties which are in demand presently and will become increasingly in demand in future.
What you should look for:
You should always do your market research and stay alert with regard to the areas that are getting discovered. Study all the areas that are closer to this new area because an up-market shop opening is always a positive sign. Take into consideration the new transport links as well as the government regeneration money. For this purposes you can also seek advice from a letting agent. He will be able to tell you exactly of the kind of properties that have the fastest and strongest growing tenant demand in their area. You must ask him about all the changes that are occurring locally which are likely to affect future tenant choices and demand. You can ask the agent about the type of tenants that might be looking for your chosen property, i.e., families, students, couples, private tenants, those on local housing allowance or singletons. The letting agent can also advise you on the level of rent you can expect from the chosen property type and also if it is likely to increase in near future.
He will also inform you of the level of furnishing that a tenant will expect from you.
Properties that tend to let quickly:
Mostly properties that have a close proximity with transport links, shops and parks are in high demand. Also properties that are close to universities are preferred by students. Moreover, the property should have ample storage. The bathroom and kitchen should be in a good state and have a nice décor. Properties with parking space are preferred as well as those with parks, specifically by families. Lastly, the property should be well secure.
Adrian_Morrison - About Author:
Adrian_Morrison is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on rent edinburgh, please visit let in edinburgh.
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