If you are interested in purchasing a home with an intention to rent it out, there are certain important features and considerations to look for in the property. It is advisable to hire a professional real estate agent to help you find a property with the right features for maximum returns.

Mentioned below are some features that you should consider while investing in a rental home:

• Good Neighborhood: For a rental property to be lucrative, ideal neighborhood plays an important role. Good neighborhoods attract quality tenants who are likely to pay rent on time. Also, owning a rental property in a good neighborhood may help you earn higher rent and have low vacancy periods.
• Property’s Condition: Look for rent-ready property that will instantly start generating income and requires minimal expenses on maintenance work, painting, etc.
• Job Market: To attract more tenants, invest in an area with increasing employment opportunities as tenants are more inclined to live in a place with more job opportunities.
• Safety: Inquire about the crime rate in the area by checking with the local police or studying the crime statistics in a public library. You may also consult your real estate agent about the neighborhood.
• Educational Institutions With High Ratings: If your choice of property is family-sized homes, you should look at areas that have good schools in proximity.
• Parking: Ample parking space in rental homes that are located in city hubs, is a feature that will be appreciated by renters. A parking spot is a luxury feature for city dwellers and can also be rented out for additional income, if not used by a tenant.
• Property Taxes: Educate yourself on property taxes applicable in the area where you intend to purchase the property.
• Physical And Social Amenities: Look for amenities such as parks, gyms, restaurants, public transportation, proper sanitation, movie theaters, etc. Renters prefer staying in areas that provide convenience and some form of entertainment and rejuvenation.
• Scope For Future Development: Check for information on area development plans in the near future. This will give you an insight into the growth prospects of the area.