If you are planning to invest in North West student property, there are a number of things you need to consider. We’ve compiled our top tips for successful investment in this blog post. However, we recommend that you book an appointment to speak to a member of our team before making any important financial decisions.
Know your market
The key to successful property investment is research. The most expensive or the cheapest areas aren’t always the best or worst places to invest; often local factors such as proximity to an active University will make an area a good one to consider. You need to think about whether you are investing for capital growth or for rental income, or perhaps a combination of the two.
Consider your investment goals
Most people are aware that with historically low interest rates, traditional savings investments are not giving particularly strong returns. This is one of the reasons property investment is seen as an attractive alternative. We achieve returns of around 13% (rental yield and capital growth), which is better than most other investment options. Furthermore, the risk is reduced as you own the property outright and can sell it should the need arise.
Get the right tenants
If you invest to secure a rental income you need to ensure the property is occupied, or you will have the costs of ownership without the income to offset those costs. Different areas have different rental customers, but Mistoria targets student tenants, given the potential for high yields. We secure up to 100% occupancy across our portfolio each academic year.
Choose the right property
When looking to invest, you need to ensure you choose a suitable property. Consider what options are available, what will create the most income and what will sell quickly for the highest price when you decide to leave the investment sector. Houses that are in keeping with the area are likely to move relatively easily whereas unusual or specialist properties will most likely have a smaller resale market. When letting to students, consider location, the number of rooms, room size, and local legislation. For more information on the student rental market, read our blog post.
Consider management of the property
No matter the size of the property, it will need management, whether that takes the form of regular maintenance or the collection of rent from tenants. If you live near to your investment property and have the time and skills, you may decide that you can manage the property yourself. However, many investors, especially those who live abroad, or who have busy work schedules, opt to delegate responsibility for the management of their properties to companies such as the Mistoria Group. They then have peace of mind knowing that their prized possessions are being cared for by property professionals with years of combined experience. We can manage both the day to day operations and the sourcing of tenants on your behalf, providing you with hands free armchair investment opportunities.
North West Student Property Investment
If you would like to learn more about the investment opportunities available in the North West, speak to a member of the team at the Mistoria Group. Our properties regularly achieve yields of 13% (rental yield + capital growth).