Once you have made the decision to invest in a buy to let property, consider the following:
- Identify the type of property you want – what is best for you and what is best for the type of tenant you want?
- Think practically when choosing the property - if you are aiming to rent to a single person, a one-bedroom flat with no garden may be better than a three-bedroom house. Select a property that can easily be resold if you no longer want the property.
- Think about the age of the property - an older property may need work carried out before you can let it out.
- Think about the location of the property – the needs of a tenant who is a student are different to corporate tenants or families.