What to Look for When Buying a Rental Property
When you’re buying a rental property as a buy-to-let investor, you may have some main criteria in mind for the type of property you want to buy.
You’ll want the property to be well-located and well-designed, with the ability to generate attractive rental returns and long-term capital growth.
While these things are crucial when selecting a buy-to-let investment, there’s one quality that every investor needs to pay close attention to when shopping for their next investment property – fast internet connection.
Based on new rental market trends, and the shifting attitudes towards remote working, properties with strong internet connectivity are now top of the list for UK tenants.
So just why is this so important, how can buy to let investors go about finding a rental property that fits this criteria, and where are the best areas to focus on for internet connectivity?
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Why Is This an Important Quality?
Having a good internet connection within the home has always been important, but since the Covid-19 pandemic, connectivity has never been so crucial.
More people than ever before are now working either part or fully remote, and in order for daily Zoom calls to run smoothly and deadlines to be hit, a fast internet connection is necessary.
A lot of property developers are even adapting to this trend by adding dedicated remote working spaces into their new developments.
If you’re a buy-to-let investor who’s not thinking about ways to cater to this new way of life amongst professional tenants in the UK, it’s time to start.
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The Best Places in the UK For a Fast Internet Connection
In a recent report from RentRound, the best areas in the UK for strong connectivity were revealed.
Top of the list was the West Midlands region, home to Birmingham. Here, the average download speed in Mbps takes just 82.4 seconds.
Second to the West Midlands is London, followed by Yorkshire and the Humber, and the East of England.
The North West region comes in fifth with an average speed of 73.9 seconds.
Perhaps unsurprisingly, thanks to the rural nature of the area, Wales was ranked at the bottom of the list with an average download speed of just 58.2 seconds per Mbps.
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A Focus on High-Speed Internet Within Purpose-Built Developments
If you’re thinking of buying an investment property within a new build purpose-built property development, then you’ll be more likely to find a property with a high-speed internet connection.
Developers have been incorporating super-fast WiFi into their properties for many years now.
Take past developments sold at RWinvest, such as City Point in Liverpool, in which every unit has access to high-speed internet.
If you purchase a unit in a new-build development rather than buying an apartment in an older building or investing in a house, it’s likely your property will already have strong WiFi access.