Having read a few articles, it is evident that there is not a guaranteed route to success. If you wish to buy a property to let out, a good few hours of research is very important and when you have it, to keep it in very good condition.
There are many different types of tenants, so a good place to begin is by asking yourself what sort of people you would like and what sort of home THEY would want. Do you want families, young professionals or students, for instance?
Families go for three or more bedrooms, want gardens for the kids, are likely to need parking and want to be near schools. They usually also have their own furniture.
For young professionals, it’s all about being very close to transport links, restaurants, shops and the gym.
Students need to be close to campus, their friends and local bars. They also look for somewhere that is easy to clean, and comfortable. Part-furnished can be a distinct advantage but make sure your things are either insured or not expensive to replace.
Put yourself into the mindset of the tenant you want, and invest accordingly.