Owning a London rental property can be an excellent way to make a steady and reliable income, particularly if you are able to invest in a popular area of London where there is high demand for homes to rent. However, in order to make a success of your venture, keep your property in great condition and ensure the rental income keeps arriving regularly, it is important that you take the time to find reliable, high quality tenants.
The stereotypical image of a renter is a student or young person sharing with friends, but times are changing and there are now many renters of all ages, professions, social groups and stages of life. This means you have a wide potential pool of people to live in your buy-to-let investment. Here are our tips for narrowing down the selection to the right ones.
Identify your target market. Think about the features your property offers and the amenities in the local area; this will give you an idea of who you should be targeting. For example, properties close to local schools and with private parking are likely to appeal to families, so tailor your approach to them.
Be clear about your policies. It’s important to educate yourself on your rights as a landlord, as well as tenants’ rights. This will then allow you to set out a clear list of rules, which your chosen tenants will need to adhere to.
Make use of every available marketing channel. Social media, letting agencies, marketing websites – there are many ways to get your property out there so it can be found by your target audience. We are highly experienced at marketing properties and can identify the most suitable channels to help you reach your goals.
Use a guaranteed rent scheme. This will give you reassurance that you’re financially protected, even if all your best laid plans lead to you ending up with an unreliable tenant or a temporarily unoccupied property. We offer the highest rates of guaranteed rent for landlords in Camden and will continue to provide you with a regular income, giving you a safety net for up to a decade.