If you’re thinking about investing in rental property in London or you already have a rental property, you might be wondering what makes a good rental property in London. We’ll share with you 3 of the factors to see if rental properties are right for you…
Rental properties can be a great investment. From the cash flow to the security of owning a real asset, real estate investors have known for a long time that rental properties are an amazing asset to keep in your portfolio. But one question persists that needs to be answered before you invest, “What makes a good rental property in London?”
After all, you don’t want to invest in ANY property – you want to invest in the right one! So, here are 3 of the best factors that make up an ideal rental property in the London and surrounding areas.
What Makes A Good Rental Property In London?
#1. Strong House, Cosmetic Upgrades Only
Unless you’re handy, or have a lot of experience, you may not want to invest in a house that requires a lot of effort to get it ready to rent. After all, every day that you delay renting is a day that you don’t get the cash flow you desire. A strong, well-built house that is free of problems and only needs cosmetic upgrades is a great place to start. Yes, you might pay a little more up-front for this kind of property but you’ll save time and money afterward in getting it ready to rent.
While you might want to spend a little more for a house that is already in good condition, you’ll still want to make sure that it’s affordable. In the London area, there’s a mix of properties – some are affordable and others are not.
#3. Good Rental Market
You also need to make sure that this is a good rental market. The truth is, not all markets are good rental markets. In some areas, everyone buys and nobody rents; in other areas, everybody rents but they move too much. A good rental area is one where there are plenty of long-term renters.
These three factors exist in rental properties throughout the London area and we can help you find them.