Get a guaranteed tenant for the life of your property
Getting and keeping a tenant,
The one thing I have learned from properties that I have owned is that it doesn’t matter how good the deal is, unless you can get a guaranteed tenant it will soon turn into a very painful financial decision.
That’s why the second of my two laws of buy to let property is buy something that is tenantable. I wasn’t even sure that ‘tenantable’ was a word until I looked it up in the dictionary. Nonetheless it is perhaps one of the most important words in property investing. When people mention ‘Location, Location, Location’ in buy to let properties what they are saying is tenantable. I summarise it very simply: good solid fundamentals, meaning shops, schools, transport links, major employers and major investment. If your property has these you are more likely to find a tenant. Being able to consistently find a tenant for your investment property regardless of how long you own the property for. It’s never just good enough to find a tenant once.