5 KEY POINTS TO MAKE YOUR INVESTMENT PROPERTY STANDOUT
Before we get started, we just want to say that a better quality property will 9 times out of 10, attract better quality people in your property, thus, having stable, enjoyable and hard working investment.
1. COMPETITIVE RENT
Pricing your property is what we are paid to do. Our recommendation is backed by experience, what's happening in the market, looking at comparable rents in the suburb, the street and even the building to accurately and efficiently lease out your property. Further, the 4 other factors we negotiate on your behalf - 1. the best lease term, 2. the start date, 3. the best rent and the 4. best people. Our staff, systems and processes ensure this (perhaps another article can be written on this!).
Regarding your property and how it looks, keeping it modern is obviously not possible all the time (wear & tear), so there is no point in replacing furnishings and fixtures at every change of tenancy, but both the ATO and Tax depreciation specialists can be your best financial friend if you update these aspects on a case by case basis. Please see more here with ATO:
It's getting even more of a premium in Sydney and having this possibility opens up more competition for your property - including the demographics of young families with prams and people wanted that comfort of an assured spot close to their home.
4. BALCONY & GARDENS
Having the ability of a BBQ in Summer (check the By-laws) is an Australian dream, as once was the grassy backyard - now getting smaller and smaller. Invest in keeping it clean, fresh and clear of clutter. Neat, simple gardens regularly maintained by a quality trade is far the better approach as well.
5. INTERNAL LAUNDRY
Not to be overlooked, having your laundry on display in common areas is not really a preference for most people, if not everybody! Having a washer/dryer is great within, or creating a space in a larger bathroom or nook within the property can add value to your investment property - both sale and rental.
Of course, not everything can be achieved, depending on the property and what you have, but if you are looking to add to the size of your portfolio or simply want to 'edit' your existing property, these are some of the daily pieces of feedback we are receiving. In a tough market, that extra effort will equate to extra income and minimise vacancy.
* Here at Elevate we are extremely proud to have 0% vacancy at the moment. So if you are thinking about plans for 2018 please come in for a chat or talk over the phone we are happy to assist in your planning for the year ahead.