How do I ensure a good return on my investment property?
IH, Anna Bay
ALTHOUGH it is always recommended that you don’t spend too much money on rental properties I believe that it is always best to have at least all the basic conveniences ie; rc air con & ceiling fans.
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Do all the light fittings work, is the bathroom & plumbing acceptable?
Do the appliance work? Is the yard fenced, is there a shed?
These are all things that will add value to your home & increase your weekly rent payment.
If you have a large yard/gardens I suggest that you consider increasing the rent slightly to cover the cost of having a professional maintain the grounds of your property.
It is difficult to find a tenant that either has the time or the inclination to maintain the yards sufficiently.
They will find it a relief to have the burden of the yard maintenance lifted.
Always have landlord insurance; for any costly mishaps.
An excellent property manager is an asset. They will ensure you have good tenants who care for your property, pay the market rent amount & pay on time. Professional quality property managers pay for themselves time & time again.
Hope this helps.