How to get the best return on your investment

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Property investment is one of the smartest investment options and a great way to earn money. However, there are certain steps you can take to get the most out of your investment property

Taking these extra steps will ultimately help save you time and money. Our Property Manager, Brad Jacobs shares his top tips.

  1. Maintain your property – attend to repairs as they occur. As your property begins to age it is important to do a few minor renovation – it keeps the property feeling fresh! A fresh coat of paint, steaming the carpets and garden maintenance make a huge impact.
  2. Do regular routine inspections – Don’t just wait for when you’re searching for new tenant, outline a regular time to take a look at the property. Look out for maintenance issues before they get worse and end up costing you more.
  3. Professional photos – When searching for new tenants always get professional photos – first impressions are essentials and you want to make sure your property is presented in the best possible light. The websites that will be advertising your property can take up the entire desktop page, so low-res photos will become blurry, your iPhone just doesn’t cut it.
  4. Research potential tenants – When looking for new tenants, don’t just go for the highest bidder or someone who can offer more rent. Thoroughly review their application, check their rental history and make sure their income supports the rent and living expenses.
  5. Invest in energy and water efficient homes – putting money towards ensuring your property is water efficient and energy efficient is essential. Have regular smoke alarm and electrical appliance checks. This allows current and potential tenants to see you care for their safety and needs. 

 

These few steps will ensure your property is maintained and continues to deliver great results.