Are you looking to purchase your first rental property? Or perhaps you’re thinking about how best to expand your existing portfolio?  Either way, ensuring your next purchase is appealing to tenants as well as providing you with an attractive return later down the line is an important balancing act.

Stephanie Caine, Lettings Director, gives her top tips of what to consider before making an offer on what you think may be the perfect property…

1.       Location Location Location 

This is likely to be high on your priority list already, but rental properties are often always about Location, Location, Location. For young professionals in particular, being within a commutable distance of key towns or cities is a must, whilst families will also be keen to live nearby leisure facilities, supermarkets and community hubs. The Rushcliffe area has all these facilities which are easily accessible as well as having excellent schooling. 

2.       Parking

Again, whilst this is an obvious one, parking is high on the priority list for many tenants, in particular those living beyond key commuter towns and cities. With the number of two-car households increasing by more than half a million in the last year alone, it’s almost guaranteed that prospective tenants will enquire about parking, if at least for their guests. If you have your heart set on a property without parking, try sourcing a council permit for local public parking, as this can make a great alternative and sometimes help yield a slighty higher rent, too.

3.       Smart, neutral & well presented

If there are any outstanding DIY jobs we would recommend that these are completed before marketing your investment to potential tenants. This will make it more appealing and demonstrates to applicants that you are a good landlord who will look after the property.  We recommend the property is well presented throughout with the colour scheme, including flooring, being neutral and redecorated on a routine basis between tenancies.

4.       Safety and Security

Security often goes hand-in-hand with location.  A safe environment is a powerful motivator for tenants, particularly if they are looking to make a house a long term home.  Providing the property with secure door locking systems and a security alarm can help tenants feel more secure.

5.       Outdoor space

It is not necessary to get concerned over garden space with a private dwelling, tenants do look to see where the nearest open space is available. A lot of apartment developments in Rushcliffe now have communal gardens.  However, if your budget allows you, we recommend that you look at properties with a smart manageable low maintained garden. The garden to be tidy, cleared of weeds and grass cut before new tenancies. It does not have to be lawned; having a private backyard, patio or balcony is certainly an attractive offering for tenants.  Being able to enjoy fresh air and sunshine is a big factor for many tenants, so purchasing a property within an outdoor feature will certainly help boost interest.

FOR MORE INFORMATION ON HOW OUR AGENCY CAN ASSIST YOU WITH A BUY-TO-LET in the RUSHCLIFFE area contact us Tel: 0115 9811888 to speak to one of our property experts.