Investing in property in an area of which you aren’t always knowledgable can be difficult, but certainly yields the desired results when done correctly. Having the contacts and a local, experienced management agent are sturdy foundations when it comes to investing, but it can always be beneficial to have the upfront data to aid in your search.
The website presents great potential investment properties that are currently on the market, whilst highlighting data such as rental yields, capital growth, and turnover based on buyer demand.
In addition to the typical insights you would look for as an investor, the platform presents other notable components that can help to analyse the type of tenants you would usually find in the area. Income, education, and degree levels, employment levels all the way through to how many vehicles a household in the area own on average; all in-depth details that allow investors to make deep, informed choices on the next (or first) addition to their portfolio:
Growth over an annual, three year and five year period allow for investors to gain an insight into just how much the value of their potential investment is increasing by and whether or not it could remain steady. Buyer demand can demonstrate the competition in any given area, with gross yields allowing investors to see on average how much their potential investment can bring them.
The expansive and detailed demographic information displays exactly the sort of components you should be looking at for potential tenants; whether you’ve been doing this as part of your investment strategy before or not. This includes affordability through their income, down to political votings and the percentage of EU leave/remain voters. Crime and local education are also factors presented, including the number of individual cases based on certain types of crime, through to the proximity to local schools and their Ofsted ratings; particularly crucial when looking for working families.
There are a wealth of considerations to take when it comes to making the right choices in where to invest, and this new platform is able to offer a vast quantity of it rolled into one, convenient and presentable tool.
Much of the rest comes from having a reputable, local and knowledgable managing agent who knows the areas well, whilst being proactive in terms of management and building long-lasting, healthy relationships between yourselves and your tenants. For more information on how you can achieve this with Abode, call us on 0161 883 2525.