LETTING & ESTATE AGENT

Maximise profits

Maximise profits

 

Considering that all recent news on the potential for profit in the private rental sector appears to be nothing but positive, increasing numbers of first-time landlords have looked to the lettings market as a means to take full advantage of the current situation.

With tenant demand showing no sign of decreasing and first-time buyers seemingly losing faith in the idea of one day owning their own property, the potential for profit in buy-to-let properties appears to be set for continued growth.

Yet deciding where to invest is a key consideration, especially for first-time landlords with little experience, so one expert is urging people to do their research before taking such a step.

"You need to take the trouble to work out the location, the kind of people that want to live there and the kind of tenants that you are likely to get," said Malcolm Harrison, spokesman for the Tenancy Deposit Scheme.

As such, finding areas where demand is high, transport links are good and local commodities are nearby could be the best way for investors to improve their chances of profitability in the private rental sector.