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What Makes A Profitable Rental Property In Carshalton?

What Makes A Profitable Rental Property In Carshalton?

When looking for an investment property to rent, there is a lot of work to be done.  From making the first decision to invest to completing the sale of your first rental property, the tasks you will face can be extremely daunting for a first-time investor.

Searching For Houses To Rent In Carshalton 

The first stage to finding the perfect rental property is to actually find the property that meets your requirements.  With so many websites out there selling properties you may think this is easy to do yourself, and although it certainly is possible, using an estate agent that knows the local area will help.

When it comes to looking at areas to invest in, your investment range will be limited by a number of things.  This will include whether you intend to be a landlord and manage everything yourself, or whether you plan to hire someone to do it for you.  If you wish to become a landlord, then we would advise not getting a property that is too far from where you live.  However, this will not be such an issue if you plan to have a management company take care of everything on your behalf.

Silverman Black is a local estate agent in Carshalton, Surrey.  With many years experience in lettings and the rental process, we can assist any investor who is looking to buy an investment property in Carshalton or any of the surrounding areas throughout Surrey.  We have a wide array of contacts within the property industry, enabling us to source a variety of property options that fits your exact requirements.  Once we have helped you find the perfect property, we can even assist in finding you tenants.  To find out more about this process, see our page on the rental process for landlords.

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5 Things To Consider When Searching For Rental Property

To help a first-time investor, we have come up with a simple list of 5 things that you should consider when looking for a property investment purchase:

  1. Local Area - The local area is one of the most important factors that you should investigate first.  The quality of the area will influence both the types of tenants you attract and how often you experience vacancies.  Carshalton, Surrey, is one of the best areas to invest in the southeast with the scenic and picturesque Carshalton Village being a main focal point.  Carshalton benefits from excellent transport links throughout Surrey and further afield, as well as a wide range of other amenities including shops, bars and restaurants right on your doorstep.  If you are looking for houses to rent in Carshalton, then a great opportunity awaits.
  2. Crime Rates - This really goes without saying, as no one will want to live in an area that has a high reported crime rate.  By going to your local police website or public library, you can get accurate crime statistics for local neighbourhoods.  When looking for a house to rent in Carshalton, you will be pleased to know that Carshalton, Surrey and Sutton have a crime rate that is much lower than the average for the Metropolitan Police force area.  This makes Carshalton one of the safest places for your tenants to live and work.
  3. Job Opportunities - Areas that have greater employment opportunities will help attract more tenants.  Employment data can be sourced easily online or via your local library and again, Carshalton is one of the best choices.  The number of people out of work is well under the national average for England, in fact it is more than 10% lower, suggesting higher salaries than the average in the area.
  4. Local Schools - One thing to consider is that your tenants may have or be planning to have children, so they will need to live in close proximity to decent schools and colleges.  Ensuring the schools have a good reputation will help increase the value of the property and the return you will get from it.  Here in Carshalton, we have a variety of local schools and colleges with many receiving 4 or 5 star reports from Ofsted inspections and over 90% in performance ratings for Key Stages 2 and 3.  To find out more about schools in Carshalton, take a look at our article: Schools and the Carshalton property market.
  5. Rental Rates - The rent you make from your investment property is your bread and butter; so knowing what the average rental prices are in the area is vital to getting a good return.  With the average rental rate of around £1,500 a month in Carshalton, we know that you will see a great return on your investment purchase.  Remember to speak to one of our advisers for more information on the rental price opportunities of a particular property you maybe interested in.

The Next Step

If you would like more information on buying houses to rent in Carshalton or the housing market in general throughout Surrey, get in touch with our friendly team on 0208 773 2929.  We have extensive knowledge of the surrounding areas of Carshalton, Surrey and Sutton and have built our business around a reputation for honesty, integrity and performance that sets us far apart from our rivals.  Alternatively, complete our online enquiry form and one of our advisors will get back to you shortly: Contact Silverman Black.

10/07/15 By Simon Walsh
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Tags: Rental Advice
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