Get some tips on how to get the most out of your buy-to-let property in 2018.
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Property buyers are unsure whether to proceed with their new purchases in recent months, slowing the sales market. Tax and regulations have hit landlords from all sides, but that doesn't mean you can't benefit from your property investments.
It is a good idea to get a wide range of thoughts and opinions on the financial future of property so as to form your own ideas going forward. Some estate agents predict an increase in London house prices over the next two years, while others think that waiting three years to see good financial growth versus the current one year is not what they want from their investments. In addition, stamp duty changes may mean that fewer buy-to-let purchases are made. After all, receiving a good monthly return from your investment is what it is all about.
Despite all this, there is some good news – if you are willing to dig deep for it. One piece of good news comes in the form of geography. Different areas within London are in demand no matter what time of year or what is happening in the world of politics. Be proactive with your property purchase decisions. Think about the local annual events that are open to the public. Wimbledon, for instance, is well known for its annual tennis tournament so why not think about properties in that location? Tennis-loving tenants would fall over themselves for an apartment to stay in during the tennis season. Why not entice tenants who are lovers of the West End to your property? Theatre-goers and shoppers will enjoy the fact that facilities and properties are close by. This ensures you engage with the right audience for your rental property.
In addition, it is worth your while furnishing your property to the highest possible standard. This includes high standard appliances and electrical goods as well as household items like linen, crockery and towels.
It is not necessarily about trying to get the best out of your property but getting the regional aspect of property-buying to work for you instead. This is one of your 2018 to-do list boxes checked off already.
Oscar Knight is here to assist you and to make sure your buy-to-let property is in demand. Contact us today for help.