With every property you add to your portfolio, it is important to make sure you know to whom you will be marketing it as a place to live, and then imagine you are the tenant. Ask the kind of questions that they will. For example, if you are renting out a small apartment, a professional couple will want to know how long the commute into the business district is, and if there are good restaurants in the vicinity. A property intended for a young family will probably want to have nurseries and good schools in the area.
You may well be completely surprised by who actually comes in to rent the property, but this is not so important. The main thing is to make sure you do not fall into the trap of buying in a particular area just because there are good deals to be had, or because it is the 'next big thing'.
With thanks to BuyAssociation.
