When you’re a buy to let investor looking to make a solid property investment, you want to be sure you’re choosing the opportunity that will be most worthwhile in the long run. One of the most important things for any property investment to be a success is a high level of demand, which is why investing your money into the type of property that appeals to tenants is a must. Whatever your target audience, here are a few of the most popular property types that prospective tenants love.
Luxury student accommodation
Student accommodation is not what it used to be many years ago. Gone are the days when the only type of accommodation available to the UK’s students was cramped university halls and shabby shared housing. Today’s students are now more used to accommodation in modern, high-quality apartments that are fully equipped with luxuries such as high-speed internet and round the clock security and maintenance. Students in 2018 are reportedly more prepared to spend more money on rent for high-end accommodation, and with student properties being generally lower to purchase, this type of property sets investors up for some very attractive rental yields.
Stylish new build apartments
If your target audience is more likely to be young professionals and couples, then apartments are generally the type of property you should seek out. The type of property you invest in, however, can determine the success of your buy to let investment. The property market is full of apartments in every city, but the ones that stand out above the rest feature modern, stylish designs rather than the magnolia walls and brown carpets prospective tenants see so often. New build apartments are also more appealing to those looking to rent, as these type of properties provide peace of mind that any maintenance issues will be under control. Another big selling point for apartments is the location, with city centre apartments appealing most to professional tenants that want to be close to their workplace and the city’s attractions. RW Invest is a UK property investment company with opportunities in some of the best buy to let cities such as Manchester and Liverpool.
When shopping for a buy to let house, keep in mind your target audience and the type of qualities that they want from a home. A lot of tenants of residential properties are often families, couples or adults seeking property in a more suburban location rather than in the hustle and bustle of the city centre. One of the main selling points of residential rental homes is the level of space in the property, so you should always try and look to purchase a property with large rooms and plenty of space, or failing that, some useful storage options that create the illusion of a more spacious home. Other features such as a private garden, proximity to transport links, and en-suite bathrooms are also appealing to those seeking rental property and could make a big difference to the amount of money prospective tenants could be willing to spend on rent.