Before tenancy agreements can be drawn up, property tax is paid and tenant credit checks are undertaken, private landlords need to find the home they want to purchase for buy-to-let purposes.

And as a form of landlord advice, Property Hawk website editor Chris Horne has suggested that investing in housing is "all about research", which highlights the importance of the period before a purchase is made.

Research is essential for "any new landlord"contemplating moving into the buy-to-let sector, he added.

Mr Horne remarked: "[Landlords need] to do their research about what type of property they are buying, where they are buying, [as well as] making sure that there is enough rental demand."

Citizens Advice recently claimed that there are three million households in the UK's private rented sector, which indicates the competitive nature of the industry.

There have been a number of cases where amateur landlords have bought properties in the wrong areas and lost out financially due to this strong competition, the Property Hawk editor warned.

Written by Claire Doyle

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