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.