Buying Property to Rent Out
Buying property to rent out is an excellent way of getting a good return on investment and can help you become a property tycoon!
When correctly managed ‘buy to rent’ properties are one of the most lucrative investments and profitable opportunities on the market, especially when managed by RENT360.
Good short and long term returns from rental incomes and the natural appreciation of the property value can be used to buy more than one property over time.
Here is a list of benefits from investing in property to rent out:
Investing in residential properties, especially in properties located close to universities are well positioned to attract students who need off-campus accommodation therefore securing multiple rentals from one property.
The tenants will essentially pay for your property investment for your investment. After you have paid the deposit, the rentals will cover your bond and what’s left over can be used for maintenance, when necessary and more importantly profit. Over and above the growth of the properties value.
After your bond has been paid off after some years, the property will generate a completely passive income for you. The more passive the better because a reputable property management company should be employed from the get-go to administer the property for you from leases, rental collections and maintenance issues.
Depending on the amount of rental profit you will be earning and owning more than one property, you can reach financial freedom a lot sooner than you ever thought possible because of the passive income and the stability of having fixed assets i.e. The Property.
Your income from the property can also be leveraged against inflation. As inflation rises, you would adjust your monthly rentals to tie in with the inflation amount. This means that your income generated from the ‘buy to rent’ property would not be affected as much by inflation and rising living costs because you would be passing them onto your tenants. Property can also be used to get tax benefits.
As investing in property is exactly that, an investment, so you need to make wise decisions. RENT360 can assist in helping you decide on the ideal property to invest in such as the location, condition of the property, what needs to be fixed or renovated and giving you an indication of what rental can be charged as well as advise on how to maximise the properties overall potential.
RENT360 offers a wide variety of property management services and a wealth of experience in residential property and student accommodation. Contact us to get started today!