4 Tips for Profitable Investment Properties
1. Choosing an attractive property
Main features tenants look for are good sized bedrooms, a clean and well-presented property and minimal gardening. Not only the property itself but the area too, you're more likely to get more interest from tenants if a property is close to schools, parks, public transport, shopping centres etc.
2. Adding instant equity
Do some quick renovations before leasing the property, such as a paint job, re-flooring, tidying the garden, painting the fence, installing new curtains or blinds. Security is also a key feature that many tenants look for.
3. Choose property that will grow in value
If you're not sure about the current market, please feel free to give our office a call as we can have the area specialist give you an update.
4. Re-sign your good tenants
It’s so important that you hire a professional property manager to ensure you get reliable tenants and that they pay a good market rent. Re-signing tenants will mean there is no vacancy in between tenancies which will mean you have a steady income. A professional property management agency should have a list full of qualified tenants ready for you if the current tenant doesn't renew.
For any more information or advice, please feel free to contact us on 8269 7711.