These aren’t the only options you must consider when it comes to modern property investment. Strategy is also a key factor.
In 2024, it’s important to consider whether you want to go into short-term or long-term letting. The popularisation of short-term letting, thanks to websites such as Airbnb, has changed the face of modern property investment. Nowadays, investors should calculate whether or not they could make stronger returns through short-term holidays or long-term standard residential letting. This may apply to coastal areas or popular holiday destinations, like Southend-on-Sea investment properties.
Investors should also explore hands-on versus hands-off investments. These days, hands-off is becoming more attractive to many investors. Using a property management company to carry out the day-to-day landlord duties means that investors can have more flexibility when choosing the location of their investment, and they can collect passive income every month rather than be responsible for collecting rent and looking after the property.
Many other strategic approaches to property investment should be thoroughly researched before beginning your investment journey.
