Here is the second article on property investment best practices. Today we are looking at the importance of location when investing in the private rental sector.
When selecting the location of your investment property you must identify your main target tenants. So for example if you are looking at purchasing a student property then the location should coincide with their behaviours. So the property should be located, not only close to the university but also to the local bars and clubs. Similarly, if you plan on renting to professional sharers then access to travel links is important, a walk to a train station or a short drive to a motorway junction will increase the attractiveness of the property.
Researching the local area for factors such as crime rates, local school performance, universities and large local companies can help you to rent your property quicker and reduce the risk of void periods in the future. By contacting a local agent they should be able to help you identify the best areas for you to purchase your property.
For more information on the local property market in Southampton and ideal locations for investment properties, call Martin and Co Southampton City on 02380 988881 for a no obligation chat.