Features Of A Profitable Rental Property


Thinking about purchasing an investment property? Here are some hot tips to consider when shopping for an investment property.

Schools – When it comes to families looking for rental properties the schooling opportunity is one of the primary elements that families look for. Having a property in an excellent school zone, you will likely receive a high number of quality applications and likely long term tenants.

Amenities – Take a tour of the prospective neighborhood. Are there amenities nearby that offer convenience and entertainment? Shopping centres, restaurants, cafes, gyms and recreational parks within a short distance.

Financially worthy – Just because you can buy a rental property doesn’t mean it’s worth it. You won’t know just by looking at a property, though. You need to know its condition, value, and the cost of any work it may need.

Already tenanted – One of the best rental properties to buy is the one that’s already rented. If you can buy a home with tenants in it and the home in good condition, you don’t have to worry about investing more money in the property.

Location – There are a few factors that will determine your experience as a landlord as much as the neighborhood where your rental property is based. The area you buy in will influence the types of tenants your property attracts and your potential vacancy rates.