There are 5 main fundamentals to finding and letting a great BTL property and in my 15 years of landlord experience they have worked for me;
- Transportation Links – make sure your investment property is within walking distance of good transportation links. Tenants are very fussy and won’t travel far to commute to work. They will also go with another Landlords property if it is closer.
- Shops & Amenities – again because Tenants are so fussy they do not want to travel too far to get their groceries.
- Schools – this opens up another category of Tenant for you; young families. They are also reliable and tend to stay around for the long term.
- 2 bed flats – these are your bread and butter BTL investment. 1 bed flats are for singles and couples. 2 bed flats are for singles, couples, sharers, small families and single parents. This massively broadens your pool of Tenanting options. It’s very good to know that Freehold properties with gardens require additional external buildings and garden maintenance and effort from you. Not all Tenants are renowned for their gardening ability to keep the place looking nice. If you see a house with an overgrown front garden you can bet its being rented!
- Get it let – The final thing is not to be greedy and push your rental expectations too high. If you pitch your rent £25 a month below everyone else in the market then you will get your property let faster and save on extended rental voids. This is especially true in new developments where the is a saturation of investors and landlords with their properties coming to let all at the same time.