Tips & Advice For Maximising Your Rental Return

Whether you have just bought your first investment property or are ready to move on to the next opportunity, you want to make sure that you are maximising your rental return. It pays off to be proactive in achieving an accurate return as it can result in you being financially stable to keep up with other ongoing payments. This article will offer some tips and advice on getting more rental value for your money!

rental return

Check And Review

To gain a clear idea, you can check out how much your rental fees are in comparison to similar houses that are within the area. If what you’re charging is lower than the market average, you may decide to notify the tenant of a rent increase. You may also want to go through your current home loan and compare it against other lenders in the market to ensure you’re not spending more money out of your pocket. Before you consider refinancing, it is important to have a set goal in mind whether you’re wanting to pay it all off as soon as possible or adhere to a stable repayment plan. Through knowing what you want to achieve and your capacity, you can avoid falling into the trap of taking out too many loans.

Property Makeover

For a good rental return, you want to showcase your place in the best light to catch the eye of tenants. It can make a huge difference by simply repainting, adding air conditioning, building in a dishwasher, creating storage space, maintaining the garden, setting up light fixtures as well as adding in modern appliances. These are all particularly helpful when rent is deteriorating due to the supply becoming greater than the demand. By adding a boost to your property with stand-out features, you can avoid deprecation expenses and also bring in more cash flow.

rental return

All About Property Management

A strong rental return can rely on efficient property management and also checking up on the performance of the property. Regardless of whether you self-manage or have a property manager, you should take the time to evaluate the management process and if the target results have been reached. If you opt for a manager, do your best to fairly review their performance and keep in contact with them on a regular basis.

Bring In Good Tenants

As they will be spending the most time with the property, it is essential to assess the character of the tenants and if they are going to keep the home well kept. It is also a priority to reach a shared agreement with the lease so everybody’s informed of their legal responsibilities. It is worth establishing a pet-friendly accommodation as there are a handful of tenants who are willing to pay around 10 to 15% more in order to avoid the struggle of finding a suitable place for their pets. For better rental returns, aim to have longer lease periods as it could be less costly. If you were to advertise for 6-month leases, this could mean more fees, interruptions and extended periods of vacancy each year.

Need help getting started? iBuyNew will point you in the right direction! Whether you are looking for apartments, townhouses or house and land packages, working closely with an iBuyNew property consultant, who understands the market, will help you find something suitable that’s tailored to your needs and requirements. Get in touch with them on 1300 123 463.

Davina Deluao

Davina graduated from Swinburne University with a Bachelor of Arts. Through travelling and studying abroad in NYC and LA, her interests for property and design grew and have become her strong pursuit.

About

iBuildNew is the market leading aggregator dedicated to residential home construction and land development. As an independent platform, iBuildNew helps Australians identify and compare new home designs, house and land packages and land estates. It’s the smart way home buyers, who are considering a new build, can find the ideal options to match their individual needs. Home building is a big decision, we make sure you get it right.

You may also like

May 14, 2018

Benefits of House and Land Packages as a Rental Inve...

A house and land package can be a smart idea if you are seeking to make a property inve...
Read More
Jul 01, 2018

Why Investing in New Home Developments in Greenfield...

New home developments in greenfield areas are becoming an increasingly popular choice f...
Read More
May 10, 2018

Invest With Your Head Not Your Heart With These Prop...

There are a number of things appealing about property investments. Not only can they se...
Read More
Jun 17, 2019

10 Common Mistakes Property Investors Make (And How ...

Investing in property can be a great step towards gaining financial freedom - providing...
Read More
Mar 13, 2018

6 Things You’ll Need In Your Investment Property

Ready to start your investment property journey? Considering all aspects of your invest...
Read More
May 14, 2018

Make Sure You Talk To These 3 Property Investment Ex...

Starting your investment journey can be an incredibly exciting and stressful process, b...
Read More
Jun 25, 2018

Changes to Victorian Tenancy Laws

Tenancy laws have not seen much change for the last 20 years in Victoria. Although rece...
Read More

9 Must-Have Features of the Most Lucrative Investmen...

If you’ve read the news lately, then you’re no stranger to the state of the Australian ...
Read More
Apr 05, 2019

The great investment debate: Apartment VS House

The apartment vs house has been a great debate for a long time. Choosing between invest...
Read More

House and Land Package, A Dynamic Duo and a Great In...

When considering an investment property, there are a number of key features to take not...
Read More
Oct 31, 2018

Are We Moving Towards a Buyer’s Market?

With falling markets in Sydney and Melbourne and analysts such as Louis Christopher fro...
Read More
Oct 20, 2017

Stocks Versus Property Investment: Which One is Righ...

It’s the age-old debate: stocks versus property? Anecdotally, Australians see certain s...
Read More
Feb 05, 2019

Property Management for Beginners

So you’ve decided to manage your property to rent out for the first time, and opted to ...
Read More

Why Property Investment Will Help Set You Up For Ret...

Retirement may be an idea sitting in the back of your mind, but in order to have the sa...
Read More
Jun 07, 2019

How To Minimise Tax On Your Investment Property

With the property market booming, the phrase ‘buy in gloom, sell in bloom’ makes perfec...
Read More
Apr 04, 2018

6 Reasons You Should Use A Property Management Compa...

If you have invested in property, leasing it out is one of the most financially rewardi...
Read More
Jul 21, 2017

Enjoy Maximum Capital Growth When You Choose Investm...

There are a lot of misconceptions about an investment property, which is why it’s cruci...
Read More
May 15, 2019

Important Questions to Ask When Seeking a Property M...

Many savvy investors spend a large amount of time and effort in researching the market ...
Read More
Mar 15, 2017

Tips To Make Property Investment Easy

Originally posted here Building a new home and property investment can feel like a scar...
Read More
Jan 11, 2018

iBuildNew Announces New Property Management Service ...

The team at iBuildNew are excited to announce that we have recently established a partn...
Read More
Feb 08, 2018

Leasing your new build: Understanding the process

The process from your complete house and land package to having a great tenant can seem...
Read More
May 13, 2017

What Is Negative Gearing And What Does It Mean For You?

Negative gearing is an investment practice in Australia that involves investing borrowe...
Read More
Dec 18, 2017

What Will The New Depreciation Legislation Mean For ...

Have you heard about the new depreciation legislation? You may have been aware of the p...
Read More
Aug 17, 2017

20-Year-Old Investor Shares 7 Tips on Starting Your ...

If you are a young Australian fresh out of university, what do you usually plan each we...
Read More

Get more from

Browse Investment Properties