What to Look for in Rental Properties

Outer banks homes for sale

Many people think that investing in rental property is a quick way to make extra money without having to put in any work, but any landlord can tell you that that is fundamentally untrue. In addition to finding tenants, fixing buildings, and advertising, landlords are responsible for regular maintenance and are often called to make repairs late at night. And that’s all after choosing the property! Fortunately, choosing a real estate agent can help a new landlord know how to determine a good rental property.

Local real estate agents are a homeowner’s best ally when investing in rental property. In addition to being able to show homes to buyers, the best real estate agents also know important information about various neighborhoods, such as school ratings, local amenities, and the types of tenants that usually look in those areas, such as families or young professionals.

Knowing how to invest in rental homes is more involved than just finding a good real estate agent. Buyers must be familiar with the needs of potential tenants and be able to see potential in homes that may need some renovation. If the landlord wishes to rent to families, a home with close proximity to parks and schools will be a better investment than a building on a busy street near popular coffee shops. Conversely, single professionals will be more attracted to small homes in business districts.

One of the most important things to look for in any rental property is off-street parking. While some tenants may not own cars, off-street parking will be invaluable during renovations or when the landlord needs to make repairs at night when the street parking is taken.

Of course, these are only a few of the things to consider when investing in rental property. Potential landlords should talk to their local real estate agents to find out what other characteristics make a good rental home.

Leave a Reply