The keys to a successful rental investment!

There are a few key things to keep in mind when investing in rentals:

1. Location, location, location! Make sure you invest in a neighborhood that is developing or has development potential.

2. Study the market! Know what you are getting into and be realistic about rental rates in your area.

3. Select tenants carefully! Selecting quality tenants is essential to keeping your property rented and avoiding costly damages.

4. Have a solid plan for managing your property! This includes setting up regular inspections, keeping records and being prepared for emergencies.

By following these simple tips, you can be on your way to success as a rental property investor!

To benefit from an additional income and to constitute, or increase, a patrimony, there is nothing better than the rental investment. Especially since with this solution, it is possible to benefit from several tax advantages, such as, for example, the reduction of income tax. However, if this is the first time you are going to invest in the real estate market, you should absolutely know the keys to a successful rental investment before you jump in.

Define the objectives of the rental investment

To succeed in any investment, you must first define your objectives, so you must know what you intend to do with your project, before making an investment in anything. Indeed, if you are going to invest your money in a rental investment, i.e. to rent a house in order to receive rents, you must leave your affect aside. In other words, if you intend to buy a rental property because of its low price alone, well you're going to hit the wall.

If you want to avoid this, it is of course advisable to visit the property yourself and to study all the details, even the most insignificant ones in your eyes, and to observe all the amenities present in the surroundings of the property. There is no room for improvisation! You must therefore take into account the objectives to be defined before embarking on this investment:

• Housing type;
• Type of rental;
• Financing and/or credit;
• Taxation and all taxes;
• Tenant's choice;
• Rent amount;
• Rental management ;
• The legal rules of the purchase, if you are going to be two to invest.

In which housing to invest?

The basic principle ofa rental investment is that the profitability will pay for the risk. Thus, the small surface units will yield more, but, with this type of property, you will have to face frequent changes of tenants, which will produce important rental vacancies, but also frequent repairs. In the case of large properties, the opposite is true, as families usually move into these types of properties, and they often stay longer. Basically, the risk will be lower and, as a result, the rental yield will be lower. So, to find the right compromise between risk and return, the best would be to opt for two or three rooms in a dwelling.

If you are renting to a student, then a studio apartment is the best choice, if you are renting to a family, a large apartment is perfect, and if you are renting to a young couple, then a two or three room apartment is best. Add to that a location that will meet the needs the category of people to whom you want to rent the accommodation.

And finally, as for the question of new or old, do as you wish, since the difference is not really important.

The management of its rental investment

Once you have completed your rental investment, you will need to address the management of the property to put in rent; to find tenants, to write the lease, to collect the rents, etc. If you are unable to manage your rental property for various reasons, such as lack of time, for example, call upon a company specialized in rental management, who will manage all the steps related to the property put up for rent; the selection of the candidates' files, the drafting of the lease, etc.

Finally, subscribing to an insurance of unpaid rents is a good alternative, in case you do not manage to rent the property, or in case you do not collect the rents. This insurance will guarantee you the profitability of the property and will also allow you to cover the possible non-payments.

You now know all the keys that will allow you to succeed in your rental investmentYou just have to go for it or save up to do it!