The success or failure of any investment in property relies on having a well conceived strategy. Identifying a spend limit, a specified tenant type and a target monthly rent from the outset will help to ensure you purchase the right property for the right market. This week we take a look at rental properties in the family market.
Although traditionally thought to be the realm of students and young singletons, renting is becoming more and more popular among a wide variety of individuals and, although some may be renting out of necessity rather than choice, the family rental market is growing.
With the financial demands of a growing family many people with young children may struggle to raise a large enough deposit. Add to this the need to remain flexible for work, and a desire to be able to move easily to secure good schooling, and its easy to see why some families choose to rent.
If you are a landlord looking to expand in this area you can benefit from tenants that are stable and reliable and, if the property is well maintained and practical, returns can be significant. Below are a selection of properties that fit the bill when it comes to family friendly rentals.
Our first property in Burntwood in the Midlands is deceptively spacious. With its 3 bedrooms, modern kitchen, contemporary decor, driveway and child friendly garden the property is ideal for a family let. Priced at £134,950 the property could offer an ideal buy to let opportunity.
Located in Norwich this property is thought to be ideal for buy to let investment. With current tenants paying £900 PCM this property offers 4 bedrooms an enclosed family garden, two reception rooms and the vendor is looking for offers over £190,000 .
Our last property represents great value and could rent for about £1300 per month. Located in South East London, this spacious and light 3 bedroom split level maisonette is offered to the market in good decorative order, and has good potential as a family let. Situated on the third & fourth floors it offers ample storage and loft space. The property benefits from an intercom system, built in wardrobes and a rear balcony.