Buying a flat to let – what you need to know

More and more people are buying a flat not to live in it, but so that they can rent it out. It is a lucrative way of investing money. Renting out the property will allow you to repay any mortgage, and in the future it will be an excellent form of additional income. In today's article you will find out what you need to know about buying a flat to let.

If you want to let a flat at a profit, you need to think the investment through properly. We advise against choosing the first property that comes along in the hope that tenants will turn up on their own. This is not always the case, and a poorly thought-out choice can hit our finances. For this kind of investment to pay off, the following aspects must be taken into account.

Location of the flat to let

When deciding to buy a flat to let, we should above all consider the location. There are two ways to go. We can decide to buy a flat in one of Poland's larger cities. Renting is becoming ever more popular there. Flats are sought not only by students, but also by young professionals and families with children. So we will not have to worry about a lack of interest. The other option is to buy a property in a tourist town, for example by the sea or in the mountains. This will involve short-term lets and will depend on the season. However, the price of such a let is much higher, so we can earn more in a shorter time.

An even more precise location

Choosing the city in which we will buy a property to let is not everything. We must also choose the place within it. Of course the centre will be the most advantageous for letting, but it is not the only option. If we intend to let flats to students, we can opt for a location close to a university. Families with children, in turn, will be more interested in a property on a quiet estate surrounded by greenery and right next to schools and nurseries.

Who do we want to rent to?

When buying a flat to let, we should also consider our target group. If we are thinking of tourists or short-term lets for business people, it will be better to invest in a small, higher-standard flat in the centre of a large city. On the other hand, if we cannot afford a property in a new development, we can go for the secondary market and let the flat to students or young working people, who will not have overly demanding aesthetic requirements and for whom a low price matters most.

Choosing a flat to let and finding the right one is no easy task. In this situation it is worth using the help of a professional estate agent. An experienced agent will take your expectations into account and find a property that will be perfect for letting.