Q: I have recently completed on an apartment in a city centre development and am now considering either re-selling the apartment or placing it on the rental market. Is it possible to try both avenues simultaneously? Richard Marsh, Edgbaston Isabelle Wright answers: I think it is actually a good idea to 'hedge your bets' with regards to either re-selling the apartment or renting it out. There are certainly no restrictions that will prevent you from doing so, but it is important that both your letting and selling agent are aware of the other parties that are involved and your intentions. It is essential that both communicate so that potential purchasers or tenants are made fully up to date of the situation when making inspections. In addition to this, you need to ensure that any terms of business you sign with your agents do not restrict your ability to rent/sell the apartment during the agency periods. It is usually possible to set up an agreement with both agents whereby if a purchaser is secured you will sell the apartment and take it off the rental market and vice versa. In terms of presentation of the apartment the requirements for the sales market are not usually as extensive. You may be able to rent the apartment unfurnished, however you will more than likely find that your letting agent will advise you to fully furnish the apartment, which generally includes all items of furniture, curtains, crockery, bed linen etc. Therefore if you decide to do this and secure a purchaser before a tenant, you will want to build the cost of purchasing these items into your budget. You may also want to remember that some purchasers do not want to buy furniture and you can therefore not rely on this as a means of refunding your costs. If you do end up securing a tenant before a purchaser on an assured short hold tenancy, you will need to review the situation in terms of re-selling the apartment. Most tenancy agreements do not permit access for viewings until the last two months of the tenancy, which therefore makes it difficult for further inspections to take place. In addition to this, most purchasers - particularly those people who are purchasing to live in - require vacant possession which means that completion cannot take place until the tenant moves out. This can cause complications and I would recommend that you take the apartment off the sales market and place it back on towards the end of the tenancy when the tenant is happy to allow access. Q: I am considering purchasing an apartment off-plan in one of the new development schemes. There are a number on offer and I cannot decide which to reserve. Can you guide me as to what features to look for that will help in terms of investment? Simon Burgess, Warwickshire Isabelle Wright answers: It can often be confusing as to what to choose when purchasing off plan and it is true that some apartments will perform better on the rental or re-sales market. In terms of the features to look for, there are a number of obvious ones that should be considered, however you must remember that the addition of some or all of them will increase the price drastically. Therefore you will certainly find that the apartment you choose will be budget dependent. That aside, I would suggest that the best selling features (albeit not essential) are a secure parking space, a balcony (or some outside space possibly communal) and a decent view, whether it be city, canal or courtyard. In addition to this I would advise you to carefully study the plans of the apartment and be sure that the accommodation is well laid-out and provides the type of space that you are looking for. It is certainly worth viewing some apartments before committing to ensure that you have a good idea of what you are buying. | 
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