Market for 'the right tenants'

News Category: Marketing

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Landlords have been reminded that location is crucial for investment in the current economic climate.

Residential lettings markets are performing differently from region to region, and landlords should also be thinking about their target tenant when choosing to invest in a property, said Birmingham Midshires, a division of the Bank of Scotland.

Letting agents which secure tenants on behalf of landlords need to consider local factors, as well as the implications of regulation and tax, the mortgage lender indicated.

"As a rule, young professionals look for modern properties, with easy upkeep and good transport links," it said.

Rental homes closer to amenities and schools would be better marketed to young families, the bank also suggested.

The advice comes after the Halifax revealed research in January which showed that the ideal tenant for a typical landlord would be a female medical professional, aged between 36 and 45 and earning around £20,000 to £30,000 a year.

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