Buying an investment property also comes with the responsibility of becoming a landlord. When preparing to buy, you’ll need to consider where the market is at and the kind of return you can realistically expect when renting a property out.
Here’s a few tips from The Telegraph to help you out:
Understand the letting market and the potential capital growth on a place. You’ll want to buy where there is a high level of rental demand and steady capital growth too.
Finding a tenant
To make your investment worthwhile you’ll want to get someone paying rent as soon as possible. If this is your first time as a landlord it may be helpful to go through a letting agent who can advise on legal matters and find a tenant for you.
Setting up a network of tradesmen to look after the property is important too. They will be able to deal with problems without racking up a huge bill for emergency responses. This is key in making your investment more profitable.