When it comes to choosing your next buy-to-let investment property in Peterborough, there is a lot to think about. Most importantly, who are you looking to attract and what are you looking to spend? These decisions will help you ensure you have the rental property in Peterborough that attracts the tenants you are looking for.
Buy To Let Property Location
You need to think about location. The area you choose will affect the tenants you attract. For example, if you want to attract families you need to be near a school. Perhaps you are keen to have student tenants, in which case it needs to near the university. If you are looking to attract professionals, your rental property needs to be near the train station or the city. Think about what your dream tenants want nearby and choose a location that offers that.
Buy To Let Property Type
Think about what your ideal tenants want from a property. If you are looking to attract a family, the property will need a garden. Maybe you are considering attracting HMO tenants or students? In which case you want to opt for a property type that has lots of bathrooms or even ensuites in rooms. Looking to attract an older tenant? Think about bungalows or flats with lifts. A modern looking flat may be more attractive to a professional, but it might not appeal to an elderly tenant.
Yield vs Stability
Another important choice when finding your next buy to let property in Peterborough is if you want a high yield or if you want stability. If you are looking for a higher yield with potential turnover you will need to think about students as your type of tenants. However, if you would rather have a more stable and long-term income then you need a property that appeals to the elderly or families that are looking to put down roots in the area.
Legal Compliance For Buy To Let Properties
Dependent on the types of tenants in Peterborough that you are trying to attract, there may be legal compliance regulations you need to adhere to. For example, if you are looking to create shared accommodation for tenants there will be legal compliance such as HMO licences to consider.
If you need help finding the right property as a landlord in Peterborough, or the right tenants for your property, call our team. Here at AGT Property Management and Lettings we have the local knowledge and experience you need to be a successful landlord.
