Rental properties are always in high demand in London, with more and more people seeking homes they can live in without having to commit to purchasing. If you have the resources to invest in a buy-to-let property and manage it properly, you can enjoy some outstanding returns.
Purchasing a London buy-to-let home may be a major decision, but when you have our highly experienced team on your side and advising you on where to invest, you can expect your stress to be minimised. We can act as your property managers and letting agent in Croydon or any other area, providing valuable insights and advice throughout. Here are some of our tips to help you make the right choices when it comes to selecting a property that will bring you the best results on the buy-to-let market.
- Consider what your tenants will want in a home, rather than what you would want. For example, while a beautiful period property filled with historic features may be appealing to you, it’s unlikely to be the right fit for students, who will be more inclined towards modern properties which require minimal maintenance.
- Don’t restrict your options. Location is one of the most important factors to think about when it comes to investing, but don’t limit yourself to the areas you know well or that are local to you. There may be much better investment opportunities for you in other areas you previously hadn’t even thought about. When we are managing your property, you don’t even have to live anywhere near your investment to know it’s being well looked after.
- Think about how much initial investment you want to make in getting the property up to a liveable standard. Unless you’re prepared to spend time and money renovating, improving or redecorating a property, it may be better to look for an investment that is already in great condition so you can let it immediately. Remember that as a landlord you have a duty to ensure that the property is safe for your tenants, which means the boiler, electrical wiring and gas installations all need to be checked and maintained.