Swindon, Reading and Brighton 'are ideal for landlords'
Published by Sarah Ashcroft
Landlords who are looking to add to their portfolios have been advised to focus their attentions on particular towns and cities across the UK.
Malcolm Harrison, a property specialist, has been speaking about the best parts of the country to invest in and he explained the key is to find homes in a place that has a "good combination of economic activity".
He picked out Swindon, Reading and Brighton as destinations that offer this and make for ideal rental property spots. The combination of universities, business headquarters and the ability to commute easily to London make these desirable places to live that will attract renters.
Indeed, no matter where a person chooses to invest, they should always make sure that larger cities are within easy commuting distance. This opens up any home to an increased number of potential tenants.
Mr Harrison went on to advise: "If you are buying to invest, don't go for the top end of any market that you are looking at. Always go between the bottom end and the middle because that widens your choice of tenants. It doesn't matter which type of property you are talking about, that principle applies across the board."
The expert suggested flats and terraced houses are very much "at the core" of the UK's rental market, so investing in these is a wise move. Flats in particularly tend to offer excellent security and Mr Harrison said there is no reason for their popularity to change any time soon.
Upon investing in a flat to rent out, people are advised by the property specialist to pay attention to the details. While there is nothing particularly difficult about being a landlord, it is important to adhere to the rules and using a letting agent can help in this regard.
Another issue to remember is to use a tenancy deposit scheme
to protect the money a person pays upfront to rent a home. This is required by law so must not be forgotten.
- Landlord and Tenancy News from Lawpack: Get expert advice on your obligations as a landlord with Lawpack's Residential Lettings Guide
Published on: September 9, 2013
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