Real estate remains one of the favorite investments of the people. The purchase of rental accommodation allows you to earn additional income for retirement and to pass on an inheritance to your children. However, not all accommodation has the ideal characteristics for rental. Here are the tips that will guide you in your choice. In the real estate guest post you can have the best solutions present now.
Select a good location
The main objective that should guide future owners in their research is the possibility of renting accommodation easily and for the long term . For this, the first criterion to be respected for a successful rental investment is to choose a good location. The city, but also the district, must be interesting for the tenants: pool of jobs nearby, shops and transport quickly accessible … A housing which allows the tenant to save time generally has a higher rental potential .
Please note that not all cities are created equal from a rental point of view. Some are unattractive, while others show very high demand. Most areas with high rental pressure are defined as “tense” by the state. These cities are listed in a list, which is used for the eligibility of investments under the house laws. Even if it is not a question of investing through one of these tax exemption laws, it is a good indicator for choosing a municipality (source: la-loi-pinel.com ).
If the choice of the city is important, the choice of the district is just as important. The potential of a property can indeed change from one street to another. It is therefore preferable to always invest in a city that you know, or at least in a neighborhood that you have visited several hours a day. It is also best to meet real estate agencies to conduct your own market research. In any case, you should never forget to move.
Typology, layout: choose the right accommodation
If the location is of fundamental importance, the quality of housing is also paramount. In terms of typology, small dwellings require less investment, are generally quicker to rent and more profitable. But family dwellings often enjoy greater tenant stability. Here again, however, the local real estate market must largely guide the choice. Certain cities are for example saturated with studios, and this type of housing cannot find tenants. Conversely, others lack two pieces, while demand is strong.
- To attract rental candidates, the accommodation must be clean and functional. A refurbished apartment will be more attractive than accommodation “in used condition”. The future owners can thus provide refurbishment work before the rental, and include this budget in the negotiation of the purchase price. Be careful however not to put too fragile materials, since the wear of a rental accommodation can be fast.
You should also know that the presence of a fitted kitchen (but without oven or refrigerator type equipment) is popular. This allows the tenant to settle quickly and save on the purchase of furniture. A beautiful bathroom is also a strong argument: a beautiful vanity unit and a shower screen often have their effect. Finally, the presence of storage is very appreciated (large cupboards in the entrance or the bedroom).
Other characteristics such as the volume of the rooms and the brightness are significant “advantages” which can appeal to rental candidates.
The 2nd Chance Investment Group Riverside has a team of experienced professionals who will help you every step of the way. They know what needs to be done in order to make sure that you get your desired outcome, which is selling your property fast and at a good price.