The most desirable of factor in buying a property to let is that there is a continuous tenancy. If there are no tenants, then you, the landlord, will have to pay the mortgage and buildings insurance. It is important to consider that you are able to afford this before taking a buy to let mortgage.
Location is an important factor in determining whether your property will be considered desirable by potential tenants.
The safest area to buy in is an area that you are familiar with. You have established knowledge of various considerations such as public transport, local facilities such as hospitals and employment prospects. Buying in your local area also allows you to keep a close watch on your investment property without inconveniencing the tenant. Whilst in some areas it is desirable to live as remotely as possible, most tenants would look for facilities such as Parking - Most people drive, make sure there is space to park. Security does the property have an alarm? Is it is a good well lit area? Leisure where is the property in relation to pubs, restaurants and sports facilities? Transport links Are major roads accessible? Schools & Education If you wish to rent to families then proximity of schools may be a primary concern.
All these points can make or break your property, and indeed a property offering all these facilities will be more marketable.
It is often thought that the advice of a local letting agent is invaluable, even if you choose not to use their services. They will provide information on the amount of rent you will be able to get for your property and can take the strain of repairs and maintenance, however all this comes at a cost and it is wise to investigate various letting companies before committing to one. It is also possible to market your property in the local newspaper, through websites such as www.fish4homes.co.uk.
It is vitally important to have your property let consistently, you are about to enter a financial marketplace, and your property will be in competition with other properties for your tenants. It is important to make your property as attractive to tenants as possible.
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