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Landlords: here’s how to research your next property investment

17 December 2019 7072 Views
Landlords: here’s how to research your next property investment

Whether you’re a first-time landlord or a seasoned investor, finding the right buy-to-let investment is far from simple.

With many factors to consider, there is a level of research you must carry out before making a purchase, which is crucial to your chances of a successful investment.

With this in mind, using our knowledge and expertise on the buy-to-let sector, here at Angels Sales & Lettings we present three tips on how to research your next acquisition.

Use resources to gather background information

When researching your next investment, location has a massive part to play, and there are various ways to find out about market trends.

For example, the HomeLet Rental Index provides insight into the UK rental market, such as month-to-month rental trends, while property portals can give you a general idea of average yields and rents. Hometrack and the Council of Mortgage Lenders (CML) also offer in-depth market analysis.

Meanwhile, tools like Dataloft and Property Detective can help you to analyse demographics and local amenities, helping you decide which locations are most suitable.

Talk to other landlords and investors

During the early stages of researching a new investment, it helps to connect with other landlords who can provide insight.

Online forums are a useful way to find out which types of properties landlords find the most profitable, how they approach new investments and how they factor in all the associated acquisition costs.

If you’re planning to invest in an area far away from where you are based, it’s a good idea to ask local landlords about the pros and cons of the area before making a final decision. They will be able to give you a good idea of the rent you could be charging, as well as popular streets and property types.

Visit potential investment locations

While remote online research can provide the information you need, nothing can beat actually visiting a prospective investment.

A visit can enable you to improve your understanding of the surrounding area and nearby amenities. It can also help you to understand the local rental market, investigate the property stock and contact top local letting agents.

If you already have a specific property in mind, though, organise a viewing with the selling agent so you can inspect it and determine whether it’s suitable as a buy-to-let investment.

Of course, an experienced letting agent can provide you with a detailed view of the current market and a demonstration of local levels of tenant demand.

For more information on letting a home in areas like Enfield and Newham – from let only to full management – please get in touch with us on 0800 043 6778.

Also, to find out how much you could be generating in rent each month, you can request a free and instant online valuation today.

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