Investing Tips Whether it be your first investment property or you are wanting to add to your portfolio, look for:
- Location look for a quiet street within an easy walk of public transport and open spaces, schools, shops and restaurants.
- Aspect good natural light and outdoor areas will always attract tenants.
- Balanced Accommodation look for properties with a good layout and well proportioned rooms. Avoid properties without a good balance of bedrooms to living area space.
- Convenience built-in cupboards and good storage space are vital. Well equipped kitchens and first class bathrooms score highly too. Don’t forget that a lock-up garage also rates very highly with tenants.
- Approach what is the street like? Would the surroundings appeal to your target market? Are neighbouring properties well maintained setting a good standard to be followed in the area?
- Helpful Hints always put yourself in the shoes of potential tenants By providing an attractive letting property, you’ll be able to attract better tenants and reduce empty periods.
- Leave a little left-over avoid the temptation to spend so much on buying a property that you can’t afford to bring out its maximum potential. If you need to make improvements, get them done. As well as letting benefits, they can add to the capital value of your property.
- Minimize all your property’s negative features a badly shaped room will need all the design help it can get. A dark room should be lit in the best possible way - large mirrors can be a great help.
- Keep the property in first class order redecorate and improve on a regular basis and between tenancies if necessary. Tired decoration and worn appliances won’t just reduce monthly rental, they also reduce appeal which leads to longer periods between lettings. – Invest in a quality property management
