When deciding to invest in a rental property, you want the best return possible. To make your property the most profitable it could possibly be, Starting Point Real Estate has compiled the top features to look for when investing in rental property.
Amenities. When looking at properties, be sure to take notice of any parks, theaters, shopping plazas, restaurants, and public transportation stops. Properties that are near these things tend to be popular with potential renters.
Employment. Locations with plenty of employment opportunities near by are not only going to bring in renters that already work in the area, but there is a potential for people new to the area to also be interested in your property.
Schools. Families are a huge portion of the renter market. Investing in a property near prestigious schools will draw in renters with children as well as couples who are looking to have children in the future.
Rent. Looking at the average rent of other properties in a location is very important. If the average rent is not going to cover the mortgage payment, taxes, and other homeowner expenses, the investment is not likely to be profitable.
When you’re ready to enter the market for a rental property, review these tips and contact Starting Point Real Estate today to get started!