Shopping Around


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Not all properties are good candidates for rental properties.  There are certain characteristics that make some homes more appropriate than others. Before you simply by a property as a real estate investment, make sure it is rental appropriate.

 

Outdated, older homes

These homes have good bones. Since they are older, they will require a lot of work before they will be appropriate for renting out. In addition,  they are more likely to need a lot of repair in the near future to repair and replace pieces, appliances, and fixtures that have just worn out with time.

With older homes you can choose not to mess with addressing problems beforehand. This is a very risky situation. It leaves the possibility of a lot of problems going wrong after the tenant is in place.

Your other choice is fix the property before you let tenants in. This means you may be fixing plumbing issues, roof leaks, cracks, foundation settling, electrical problems, and outdated or broken appliances.

 

High-maintenance Homes

Larger homes or large yards can be beautiful, but no one wants to spend all of their spare time maintaining their home. This includes weeding, mowing, pruning, and watering, as well as washing windows and cleaning gutters.  very few tenants are willing to do all of this for a property they don’t own. If you want it done, you will probably have to hire a service and include their fees in the monthly rent.

 

Pools

Although pools are desired by a lot of families, homes with pools aren’t good candidates for rentals. A pool rules out a lot of potential tenants as contenders. Some families with small children will consider your home too risky a place to live. In addition, you would have to be really clear on who, how, and when the pool was to be maintained. Not all renters are willing and able to mess with pool maintenance, and that can turn into a messy affair. It also raises your liability too.

 

Proximity

Good rental properties are ones that are near to local amenities and services. People need these services anyway, and they are willing to may a little more to be near them. Properties that are in the middle of nowhere are generally less desirable. Your tenants will have to drive farther to get to the resources they need.

 

These four details will help you pick the best real estate investment properties when you are shopping around. For more information on real estate investing, call or visit us at Homevestorsfranchise.com. We have a large assortment of real estate investment and real estate franchise opportunities available to help you grow your business. Come see what opportunities we have for your real estate business.

 

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