DURBAN - Purchasing a rental property is a major investment and can be a lucrative one. But before making a final decision, take a step back and do some research.
Craig Hutchison, Chief Executive Engel & Völkers Southern Africa says that it is important to take precautions when deciding to invest in buy-to-let property.
He said, “Take your time, look around and seek advice. Do your research and understand the market. Chat to a professional real estate company about what they have on offer that both suits your budget and your long and short-term needs".
Know your consumer and find your niche
There are a variety of consumer types who seek the benefits of renting property, rather than owning it. Each consumer profile requires a specific type of property in a particular area and within a definitive budget.