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What To Look for When you Purchase a Rental House

The first key to any area is that people need to have a reason to want to live there

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Property

If you find yourself looking to capitalise on the housing market, then this could be one of the best times to get into the real estate game. However, instead of trying to flip a home like many other people, why not lock in your cash flows for a long period of time and still guarantee that your asset will appreciate over many years? If you are thinking about purchasing a rental house, then consider the following items as the top characteristics for a rental property, according to Investopedia.

Amenities

The first key to any area is that people need to have a reason to want to live there. Some people will always be able to find a reason, and certain quirks in buyers will make even the worst characteristics of a home seem appealing. That being said, if you want to cast the widest net when it comes to finding qualified renters, then you need to think about who will be in the area and who will want to be in the area as well.

Amenities can be anything under the sun, but there needs to be a reason to attract buyers in the first place. This could be wildlife, parks, malls, colleges, entertainment, and other such things because the list just keeps on going. It is important to simply remember that when there are things to do and enjoy, that is when you have found an area that others will want to be a part of as well. If you can find investment, then people will come and will want to live in that place.

For rent. Image source: indianpropertylawyers.com
For rent. Image source: indianpropertylawyers.com

Job Market

The general job market is going to be important because you will want to have qualified renters to rent from you. However, you also don’t want to have a flat-lining pool of possible tenants. Instead, you want it to be growing. You also want to have your potential candidates continue to increase their wages so that they can continue to afford to rent from you (and possibly even affording an increase in other dues as well). The key is that you cannot neglect the other side of the equation, which is thinking about where you will be for the long term.

Assuming that you have a twenty or thirty-year mortgage (if not one that is even longer), then you could be locked into that property for a long time. So, instead of going to an area that is volatile with respect to jobs and the future economy, you want to find something that will keep growing and will continue to attract people in the long haul as well. Knowing the job market means you will know if your product will have enough demand to even succeed as a viable business plan in the long run.

Rents

Paying attention to the rents themselves is one key that you cannot forget, according to an article by Business Insider. It isn’t all about making immediate money as you will be able to make it in the long run if you have a solid property. That being said, you also want to be able to know you are not only clearing your mortgage payments and other obligations but that you are also able to afford anything else that comes up.

When you are pricing an area in general then you will also be able to tell a lot more about the area with respect to the class of people and the types of tenants you will be dealing with. That is just one of the reasons that it is so important to consider searching for properties with top tools such as DDProperty when it comes to actually seeking out the best properties.

Schools

While most people think that a school district is nice just for small families, the reality is a strong school district leads to a lot more. Having a strong school district in a general area means that people who live there are able to afford the taxes, the local government runs the area efficiently, and in general there isn’t a lot of volatility or crime. When you think about an area that you want to open a leasing property operation in, that is pretty much the exact summary of where you want to go.

Furthermore, even if the area suffers some lows for a certain period of time, the areas that get hit the hardest are typically the worse off neighbourhoods, which only means that the areas with nicer schools and a more solid economic base will continue to be sought after.

When it is all said and done there are always opportunities out there to open properties and find good investments in the real estate game. What you want to do is to find the places that give you the best chance at being successful and yielding the best profit for the least hassle and stress.

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  • Vrushali Mahajan

    yes, definitely. These are the essentials for people who are deciding to move in the near future.

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Threat of AI Displacing Jobs is Real, Says Telecom Secretary

On aggregate, the employability for new-age jobs is on average 1.7 per cent, showed the findings based on more than 170,000 Indian engineering students

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The enterprise solutions major has integrated SAP CoPilot with the
"A tectonic shift is happening in AI. Nearly 85 per cent of enterprises globally will use AI in some form or the other by 2020.

While digitisation has delivered great benefits to the country, the threat of automation and Artificial Intelligence (AI) displacing jobs is real, Telecom Secretary Aruna Sundararajan said on Monday.

“Adoption of digital technology has proved to be a great democratiser and leveller in India, especially in doing away with many hierarchies in the Indian economy. But digital is also throwing up as many challenges. There are no easy answers to them,” Sundararajan said, while delivering the keynote address at a conference on “future of the digital economy” here.

“There are various estimates about the rate at which jobs are becoming irreverent – from 10 per cent to a high of 70 per cent. So this threat is real,” she said while referring the rise of AI.

With dangers of job losses looming large, can providing universal basic income be the answer?

“The idea of providing universal basic income is gaining ground because a lot of Silicon Valley leaders are pushing for it,” she said.

Participating at a separate panel discussion, Sanjeev Bikchandani, Co-Founder of Info Edge which runs the job portal Naukri.com, said that there will be no large scale job losses due to AI.

AI has the potential to increase India's annual growth.
AI has the potential to increase India’s annual ggrowth.Pixabay“Some jobs will definitely go. But this happens all the time with new technology arriving. Similar questions were raised when computers were introduced in India. AI will create new industries,” he said at the conference co-organised by Indian Council for Research on International Economic Relations (ICRIER) and Data Catalyst, a non-profit organisation.

 

But do Indians have the skill set for the new jobs that may be created by the new industries?

According to a new report released last week by job skills assessments company Aspiring Minds, over 80 per cent Indian engineers are unemployable for any job in the knowledge economy.

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A mere three per cent engineers have new-age technological skills in areas like AI, Machine Learning, Data Science and mobile development, the report said.

On aggregate, the employability for new-age jobs is on average 1.7 per cent, showed the findings based on more than 170,000 Indian engineering students. (IANS)