Rental First
This might help
Have you bought an investment property in Sydney? In the last couple of years, as high migration flows and great market conditions have seen values rise quite substantial. However, as part of a life cycle of any product there will be time where market will slow down and rental growth will decrease, it is simply inevitable.
It is not surprise that many people will be wondering how to make the most of an investment in times like these. So let’s analyse!
Pick right location
According to experts rental vacancy rate fluctuate. When rental vacancy rate goes up, it means tenants had more choice, and you or your property manager have to work a bit harder to secure a good rental yield. However, by picking Sydney’s best suburbs and properties that tenants desire, a great rental yield can be ensured.
Normally, many potential tenants will to pay extra if there is access to amenities and facilities they need.
Properties close to public amenities, apartment blocks near universities and educational institutions, or family homes in the zones with great schools are all major keys to look out for. Many tenants willing to pay extra if there is access to amenities and facilities they need.
Improve your property
Another way to maximise your return in slowing rental market is to renovate or add to your property to make it more appealing to potential tenant. This can be especially helpful when rents decrease.
In times like this, it is the best to adjust your home and add the most appealing lifestyle features for tenants, and you might see your position improve.
The addition of the following lifestyle features can help your property in a slow rental market:
- Additional parking spaces
- The ability to have pets
- Include pool or lawn maintenance
- Strong internet and phone signals
- Multiple power points per room
- Nicer back yard
Some of these are simple to add, others are more sophisticated. A car space, for instance, might need more effort but think about what you can do to make the most out of your investment!
And as always, make sure to consult with your property manager. Here at Rental First, we’ve got years upon years of experience and knowledge about Sydney best suburbs, rental market. We meet with tenant and property owners nearly every day, we see all different properties on a regular basis, we talk to people all the time about their properties – we have wealth of knowledge that you can tap into. Call us for a confidential discussion about your investment property and we can help you find what you need, mms age it and show you how to make the most of it.
Contact Rental First on 0452 383 677 or enquire online http://www.rentalfirst.com.au/for-owners/.
Property management is all we do and we guarantee your satisfaction.
Maximize your investment with Rental First.
August 2016