Maximising Rental Returns
If you are a seasoned investor with a property portfolio or just starting out and considering purchasing your first investment property, consider the following when doing your research. Just as each property is different, so are the needs of our clients. If you would like an expert opinion on a property or area, we can provide an up-to-date report on recent comparable rental prices and answer any questions you might have.
Purchase your investment property in an area where the possibility of high vacancy rate is low.
Purchase median priced properties and hold on to them - always. Growth in rental returns is guaranteed if your property is in a sought after rental area.
Spend money on your existing assets to maximise your rental return. Tenants would rather pay more to stay in a well maintained property, than spend time and money moving.
Clean walls, fresh carpet, a modern clean oven plus a tidy outdoor area will ensure that your property stands out above the rest.
LONG TERM TENANTS
If your property manager has a good relationships with the tenant and you attend to repairs and maintenance promptly, most tenants will generally stay for another 12 months. Also remember that rents should not be above market increases.