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Investing for Monthly Income: 15 Investments That Will Make You Monthly Income in 2024

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    The Best Investments to Make for Monthly Income

    Whether you’re thinking of early retirement or just want some extra cash on the side, investing for monthly income is a top choice in 2024.

    But with so many asset classes and investment funds out there, you may feel overwhelmed at your available choices and not know where to start.
    Well, don’t worry, as this guide is perfect for you.

    Now, you may have heard some sites touting the top 10 investments to make money – maybe even the top 12 investments that pay monthly income – but how about 15?

    That’s right!

    Below you will find 15 passive income ideas to start earning monthly income in 2024. This guide is here to help provide guidance to questions you might have about investing, and should not replace specific financial advice.

    Topics on this page include:

    • Investing for Monthly Income
    • What is the Best Way to Invest for Monthly Income?
    • How to Get Started with Investment for a Monthly Income

    Keep reading to find out where to invest money to get monthly income in the UK.

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      1. Residential Rental Property

      Looking for the top investments that pay monthly income, UK or otherwise?

      Perhaps one of the best investments for monthly income is residential rental property.

      A must-have for any serious investment portfolio, residential rental property investment has exploded in popularity over the last year and is a top contender for those looking at investing for income. UK property, in particular, is a hot item – thanks to its massive growth in income potential.

      With residential real estate, investors will buy a property and rent it out to a tenant. This means that residential real estate delivers two forms of income.

      1. Rental income – A regular monthly income stream that reached a record-high in the UK rental market in 2023. The average rent hit £1,279 per month in November 2023, according to HomeLet.
      2. Capital growth – Otherwise known as capital gains or capital appreciation, capital growth is the increase in a property’s value over time. UK property prices increased at their highest rate in 2021 since 2004, reaching an average of £250k for the first time ever.

      This makes property an effective solution for those thinking ahead to retirement, as investors can earn regular rental income and secure a huge profit when they sell their assets later down the line.

      While this asset class can deliver an effective monthly income stream, you need to know that there are ongoing costs with real estate, including property management fees and interest payments if you use a buy to let mortgage.

      Overall, we estimate that you’ll likely need a minimum initial investment of around £30k, including; property taxes, a BTL mortgage initial deposit, and a down payment of 25% if you want to secure an effective residential property.

      You can learn more about property investment by reading our ultimate guide for 2024. You can also see if now is a good time to invest in property by reading our brand-new property guide.

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      2. Invest in a High-Rent Area Like London

      One of the riskier investments on this list but still incredibly popular amongst investors, London property, is an excellent asset to invest in to get monthly passive income due to its high rent levels.

      However, while London is good for a high monthly income, there are other issues that have made it less attractive over the years.
      Depending on the area, London property comes with a luxury price tag, and the region suffers from lower rental yields and stunted capital growth compared to other locations.

      Finding the right location for a buy-to-let investment can be pretty tricky, and it isn’t as simple as investing in the area with the highest potential rental income.

      You need to keep an eye on the projected capital growth and ensure that the area has a high average rental yield to secure a sustainable investment.

      Likewise, you need to avoid investing in areas with low demand. Cheaper property is appealing on the surface, but if they can’t offer consistent rental income, they aren’t a good investment.

      This is usually because there is little demand for an area, which could mean that there are long void periods, and your returns will be set to drop.

      However, if you can find the right blend, rental income can be sizable enough to secure a regular monthly income, but you should be wary. Areas like London are historically known as safe investments, but the premium property prices and sluggish growth have made other areas, such as the North of England, more appealing.

      Check out our guide to the London property market to learn more.

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      3. Student Rental Property

      Another way of securing passive income by making an investment in real estate is through student rental property.

      You can buy student rental property in the UK in two main ways.

      1. You can buy purpose-built student accommodation: Likely the top choice in 2024, with Savills reporting that over £5.77 billion was spent on PBSA in 2020 – a record-high.
      2. You can buy a house of multiple occupancy, otherwise known as HMOs: Historically a popular choice, with various tenants paying rent and increasing the income generated.

      Like residential real estate, student property is a top passive income investment, allowing investors to earn both rent on a monthly basis and long-term capital appreciation.

      Student property can potentially offer some of the best monthly income funds out of all real estate assets thanks to high rental income and low property prices, typically below £100k – In fact, our student property, City Point, was available for purchase from only £59,995 and offered 8% NET rental yields.

      While the minimum investment for student property is less, it also offers less capital appreciation potential than residential property, which is something to keep in mind for investors looking at retirement.

      You will also need to pay additional fees, such as property management fees, when buying a purpose-built student apartment.

      Overall, if you’re a buy-to-let investor looking for dependable income and want to invest money in real estate, student property is a top choice. You can learn more by reading our complete guide to student property investment in 2024.

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        4. Off-Plan Property

        As a way of investing in property with a lower initial budget, goo can be a smart choice for beginner investors in 2024.

        Off-plan is a way of investing in a new build that is still in the planning or construction stage. Due to this, it can be bought for a below-market price, with the option of using a payment plan.

        Once completed, the units are often managed by a professional management company that will take care of the landlord’s duties, generating passive income for their investors.

        By investing in off-plan property, investors can kick-start their property portfolio far cheaper than expected, with the potential to earn two forms of income.

        They are:

        1. Investors can earn monthly rental income from tenants.
        2. Investors can get returns from capital growth when the investor sells a property that has increased in price over time.

        With plenty of exciting off-plan projects to choose from, such as the previously mentioned student accommodation, eco-properties, short-let apartments, luxury accommodation and more, investors have plenty of choices to determine what option is right for them.

        As off-plan properties offer so much choice for investors, it’s undoubtedly a top choice for the best monthly income investments.

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        5. Manhattan Apartments

        Manhattan apartments can be an interesting solution for those looking for safe investments and wanting to know how to invest for monthly income.

        A Manhattan apartment is a mix between studio apartments and one-bedroom flats.

        Sometimes confused with a studio flat, Manhattan apartments are a studio with a secluded bedroom. As it is smaller, investors will then receive rental income, which is lower, based on the apartment’s size.

        As a way to generate monthly income, Manhattan apartments can be a top choice as they are more affordable and less of an initial budget is needed to start investing.

        However, opting for a Manhattan apartment could risk gaining less rental income than other property investments. Manhattan apartments are smaller than other properties, meaning you’ll be earning less than you usually would on an apartment.

        But while rental income can fall behind other property investments, Manhattan apartments are more affordable, will pay a regular payment, and are very in demand if you want to re-sell.

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          6. Commercial Rental Property

          Another real estate option on this list, commercial rental property, is another investment offering consistent income every month.

          Investors can buy a unit in a commercial building, like an office block, retail space, or industrial space, and rent the premises to companies or businesses.

          The main benefit of commercial real estate over other rental properties is longer lease lengths. You’ll have access to tenants for longer and can consistently see returns without running the risk of void periods.

          However, these investments can get tricky, making it far more challenging to find business tenants. Likewise, if you’re looking to finance your deal, buy-to-let mortgages are also harder to find and can often incur higher deposits and interest payments. We have a handy Buy to let mortgage calculator available.

          As such, while this can be a good choice for a real estate investor, it may not be the best way to invest for monthly income.


          7. Holiday Real Estate

          A top choice if you want to buy real estate you can live in, holiday homes allow investors to rent out a house on a short-term basis to a holiday goer or tourist.

          Typically listed on websites like Airbnb, those owning a holiday home, whether based in the UK or abroad, can live in their holiday home while travelling and rent it out when not in use.

          However, if you wish to do this, remember that living in a home purchased with a buy-to-let mortgage won’t be possible. Likewise, if you buy it with a residential mortgage, you won’t be able to let out the property.

          Investors can produce monthly income from a holiday home, which could be considerable depending on its size and quality. However, securing a BTL mortgage can be tricky, and you could encounter extensive void periods if the area’s tourism is based on seasonal demand.

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            8. City Centre Real Estate Investment

            Want to invest in real estate for a stable monthly income?

            A top choice for you could be a city centre real estate investment.

            City centres outside of London have become prime real estate locations, with North West cities like Liverpool and Manchester considered some of the best places to acquire property.

            Property prices are lower, meaning there is a lower financial barrier to purchasing UK real estate investments.

            Many young families are moving to city centres for advantageous employment opportunities, widening the potential tenant base.

            You can learn more about investing in real estate by checking out our 2024 guide to the best property investment strategies.

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              9. Eco-Property

              Booming in popularity in recent years, eco-property is fast becoming one of the most popular ways of investing and ensuring demand from younger generations.

              Eco properties are usually new-built projects designed and constructed with energy efficiency in mind.

              Often hailed as one of the most exciting trends in UK property today, an eco-property can offer an investor the chance to make a safe and lucrative investment. For instance, studies show that renters are willing to pay more rent in order to live in a more energy-efficient home.

              Although most investors make their biggest returns by holding onto property and selling it at a later date for capital growth, there are ways to use this contemporary asset to generate even bigger monthly income.

              Firstly, investors can let out eco-properties at a premium rent and earn more monthly income. Secondly, eco-properties are future-proof and will stay in demand for years to come and earn you a monthly income while experiencing sizable capital growth.

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              10. New Builds

              A safer investment than many on this list, investing in new builds is a stable way to ensure monthly income.

              New builds often have lower maintenance costs and modern furnishings, making them appealing to property investors and tenants alike.

              They are often more energy efficient than older properties, making them future-proofed and in demand.

              You could also consider investing in eco-property, as mentioned before, which is a new build designed to be more eco-friendly.

              New build properties allow investors to earn more than older properties in many cases, as tenants are willing to pay more for the modern designs and facilities.

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              11. Real Estate Crowdfunding Websites

              According to Investopedia, Real estate crowdfunding is a more niche way to make a property investment in 2024 and is a rather interesting method of securing assets that pay monthly.

              A property crowdfunding website is a platform that pools investors’ funds together to purchase a property.

              Once the website generates enough cash, it will form a limited company, with all investors given a share in the company representative of the money invested. Learn more about how to buy an investment property with a limited company with our free guide.

              This can be a top choice to generate a steady monthly income without spending the cash required for a full property investment.

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              12. Serviced Accommodation

              Working similarly to holiday lets but with the risk of working out costlier, serviced accommodation is a property that offers everything a tenant may need for their short stay.

              By renting out serviced accommodation, an investor will rent to a tenant on a short-term basis and, therefore, receive a return on investment via accommodation payments. You could also re-sell the property, earning money from capital appreciation.

              Due to the riskier nature of serviced accommodation, you will encounter void periods, with the property’s popularity based on the season, with in-demand locations offering the best yields and the highest safety.

              You can adjust the pricing seasonally, so while it may require more initial investment than an asset like a standard rental property or house, it can have more income potential.

              The downside is that you’ll have no control over how the short-letting market is affected by external forces; for example, it was hit hard by the COVID-19 pandemic.

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                13. Investing in High-Yield Areas

                One way to ensure a stable monthly income that can work out as a sizable return on investment is by investing in property in a high-yield area.

                By researching high-yield areas before investing, you will likely see better returns and earn income quickly. The rental yield of a property can be worked out by dividing the yearly rental income by the property’s value and then multiplying by 100 to get the percentage.

                Without thorough research, you may end up losing out on income. Be sure to speak to a property expert to see if your area of interest is your most lucrative investing location for monthly payments.

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                  14. Investing in Prime Locations

                  Alongside earning regular monthly income through high rent, investing in a property in a prime location is a top way to accumulate money for the future through capital appreciation.

                  However, capital growth has been hit hard, and the UK property market is currently subdued.

                  But that doesn’t mean property investment is no longer viable, as long-term predictions still point to significant future growth. This is particularly true of prime locations.

                  There are two types of income involved in property investment: rental income as well as capital appreciation.

                  You will earn monthly passive income while waiting for the property to grow in value, making it a top choice for those willing to undertake a long-term investment.

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                  15. Create a Property Portfolio

                  The best way to ensure a sizable monthly income is to make more than one buy-to-let investment. Investors can use income from one property investment to fund another or invest in several affordable properties rather than one expensive one.

                  By investing in these assets, return potential is far higher than other investment strategies, but the trade-off is that managing several properties can be a lot of work. For this reason, many investors collect passive income using a property management company that will perform landlord duties on their behalf.

                  Due to the low risk, the UK property market is a top alternative to other investment strategies and can deliver a decent monthly income stream in addition to returns from capital appreciation in the future.

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                    You can start investing today if you have the cash required. However, how you invest will depend on what sort of asset you want to invest in. For instance, if you want to buy property, a property investment company could be a good choice if you’re a beginner.

                    An excellent place to start for any investment is speaking to a financial advisor to assess your financial situation and if investing is right for you.

                    So, what’s the best investment plan for monthly income?

                    The honest answer?

                    As disappointing as it sounds, there is no clear-cut method of investing for monthly income – it all depends on what you’re looking for.

                    Investing in property is probably one of the most popular methods at the moment.

                    With the current state of the property market, it is probably one of the most profitable and continually growing ventures to invest in at the moment, and with prices set to rise over the next five years, this is also probably the best time to get involved.

                    All investments on this generate monthly income, but the size of that monthly income will depend on the chosen strategy. For instance, real estate can see you generate upwards of £1,000 monthly earnings.

                    The best investment for making monthly income will depend on how much income you want to generate, your financial goals, and your financial situation.

                    For instance, if you have over £30k, a top choice could be real estate that will likely generate enough passive income for your goals.

                    You can read our specific guides to varying budgets to see what investments are more suited to your needs. Follow the links below to read our free guides.

                    Yes, you can invest for monthly income in 2024, with plenty of asset classes to choose from. One of the most popular ways to invest is to earn rental income from real estate. Be sure to speak to a financial advisor to determine which strategy will fit your budget and financial needs. Why not read about the latest interest rates with the handy UK interest rates chart?

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                      Remember, investing in UK property is not impossible.

                      To succeed, though, you must keep up to date with all the latest trends and do your research.

                      This article only covers the basics – so before you dive in, do a bit of reading (our backlog of content features a whole range of guides to get you up to speed), or feel free to get in touch to discuss your options further.

                      Speak to one of our property consultants today to learn more about UK property investment opportunities.

                      Alternatively, you can learn more about real estate by checking out free guides.

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                      Reece Pape

                      Reece Pape is a property writer at RWinvest. Reece is passionate about keeping property investors updated on must-have information and housing market news, utilising the latest property market statistics and data.


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