Finding the right property

When starting out as a landlord, you are faced with numerous choices, many of which may represent new territory for you.

First of all, you need to be clear about the differences between buying a home and buying to let. Properties can also vary enormously in the investment potential they offer so make you Know Your Business.

Neither are all tenants the same, and the fundamental differences in their priorities, income and preferred location can have a profound effect on the life of your business. For this reason, it is essential to Know Your Customers, whether they are young professionals, students or families.

Once you know your preferred customers, you need to think about how to match up your tenant with the type of property you need. Know Your Market and make your investment work.

Furthermore, there is a wealth of choice in property type. Know Your Property by considering carefully whether you will invest in a flat or house and a leasehold or freehold reversion early on. Avoid making the wrong decision by looking at our potentially bad investments. Houses in Multiple Occupation are an exciting market, but have particular demands: find out more in this section.

Finally, there are several ways to make your purchase, whether buying off-plan, buying at auction, or buying through an estate agent. However you go about it, learning some negotiating tactics will assist you.