5 quick tips for buying a house to rent out

Location, location, location! Think about what areas are going to appeal most to tenants. Buying an apartment? Think Wokingham or Martin Heron’s station areas for young professionals who want an easy commute. Buying a family home? The catchment area for St Crispin’s is always popular.

Keep it low maintenance. Consider the age of the boiler, condition of the kitchen and bathroom and how old are the windows? Consider a new build with the reassurance of the NHBC guarantee if you want to minimise your potential bills.

Budget – If you have the budget for a family home have you considered buying 2 flats instead? Have a chat with us about potential rental incomes and a conversation with your financial advisor. It may be a great option for you.

Presentation – tenants like neutral décor and easy to clean properties. Great if you can buy a property that’s ready to go but some magnolia paint and hard wearing carpets will pay dividends in putting your property at the top of a tenant’s list.

Think green – Look at the EPC (Energy Performance Certificate) rating for the property. New legislation means rental properties will need at least an E rating from April 2018. Tenants in F or G rated properties can ask for improvements to be made now.

What to read next:http://www.northwooduk.com/pages/step-by-step-guide-to-letting

What to do next: Bring in the details of properties you’re looking at and we’ll give you an idea of the potential rental income and suggestions for how you could increase it.

Time for a chat? Call us on 01189 772 772 and let’s discuss your plans
Registered Office: Northwood (Wokingham) Ltd, 15-17 Broad Street, Wokingham, RG40 1AU - 4962583. VAT Number: 831878501
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