This week, we’re diving into a crucial topic for property investors: five tips to help you maximize your rental return.
Whether you’re a seasoned property investor or just dipping your toes into the real estate world, ensuring your investment provides a steady and substantial rental income is undoubtedly a top priority. In today’s rapidly evolving landscape, adopting effective strategies can make all the difference.
Tip #1: Invest in Multiple Income Properties
When it comes to real estate, think beyond the obvious. Properties with multiple income streams often provide higher yields, especially in today’s market with fluctuating interest rates.
Exploring different income avenues can significantly boost your returns.
Tip #2: Follow Demographic Shifts
Stay in tune with changing demographics. We’re observing a shift towards smaller single-room accommodations and smaller families.
Investing in properties that cater to this trend can be a strategic move to secure steady income.
Tip #3: Prioritize Presentation
First impressions matter, especially when renting out a property. A well-presented property attracts more potential tenants and increases the chances of higher rental income.
Don’t hesitate to consult your property manager for suggestions to enhance your property’s appeal.
Tip #4: Compare Comparable Rentals
Keep tabs on the current rental landscape. With the remarkable growth in rental incomes, properties that were leased out a year ago can command significantly higher rents now.
Collaborate with your property manager to assess comparable rentals and make informed decisions.
Tip #5: Consider Pet-Friendly Options
Opening your property to pets can broaden your tenant pool. Responsible pet owners are often willing to pay more for suitable accommodations.
While it’s important to check regulations and suitability, allowing pets can contribute to increased rental income and longer-term tenants.
📅 Save the Date: Co-Living Property Webinar
Are you eager to delve deeper into strategies for high-yield properties?
Join our live webinar on Tuesday, 5th September, at 5:00 PM (AEST) or 7:00 PM for our friends in New Zealand.
We’ll discuss properties with multiple income streams, offering a remarkable 35% more rental income.
Don’t miss out! Reserve your spot by clicking the button below to register for the co-living property webinar. This live event will also feature a Q&A session to address your burning questions.
To register for the webinar click here.
Regards,
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
