Buying a property to rent can be a lucrative investment. For first time landlords, however, there are a variety of issues with which you should make yourself familiar in order to make your buy-to-let venture a roaring success. No investment comes with a successful, profit-making guarantee, but investing in property has, in the past, helped many to make money and live comfortably. With property prices having falling to an all-time low, 2011 looks set to be a good year for this form of investment.

Knowing the market before you enter it is essential, so familiarise yourself with the state of property before plunging in head first. The risks of such a venture are far more important than the benefits, and you can read comprehensive guides to the property market online. Keep up to date with the latest developments, and if possible find someone else who has experienced the market and quiz them on their successes and/or failures. The area in which you choose your buy-to-let property should be promising; a place where you think people would like to live, whether because it is close to important facilities, in a popular student area or in the catchment area for a good local school.

Think carefully about the monetary side of your investment, and get the numbers straight in your head before starting to look around. How much can you afford to spend, and how much will you charge for rent. Consider the long term effects of your investment, including the possibility that your property may not be rented immediately. Be sure to think of every possible thing that may go wrong, and how you would deal with it. If you find such details off-putting, maybe buying to let is not for you after all! Above all, think about the commitment you are entering into, not only financially, but as a responsible landlord.