Profiting on Rental Property

Maintaining your investment house is important to profiting on your rental property. Keep it in good repair as Director of Property Management Dandenong Colin Kitney states “good property gets good tenants“.

In order to capitalise on your rental you have to remember that before you increase the rent per week and ask for a higher price you do not want your tenant to vacate the property. If this happens this means that the property could be vacant for three or four weeks, in turn that could potentially mean a loss of rent in the vicinity of $2,000.00. Plus add to that the costs to recover your loss at $20 a week (as originally asked for) and then it take it to years to recover it.  Moral of the story on how much your property is worth for rent? If you have a good tenant that pays rent regularly, don’t be so quick to increase the rent as their loyalty and good will is worth more than any possible rent increase.

Showing landlords how to profit on their rentals

If the property is definitely due for an increase?

in price due to market conditions ensure that you are reasonable in how much you want it to increase by. Your property managers will be able to provide you with a fair and reasonable price when increasing the rental return. Be aware that the tenant has the right to call Consumer Affairs who can determine the rate and will then rule that price that they decide to be fixed for up to 2 years.

For the best possible return however we need to always look at long-term. We don’t want to pry the bank and property so as the agent you can always try for more but if there is a little interest then reduce your rent. To find out what the recommended rent for your investment home is.
It as every week that will not be recovered example of this is the recommended rent by the age of $360 a week are you want $400 a week out of four weeks as lost $1700 a month and I take another two weeks or three weeks to let the property therefore the total loss of rent could be up there around $3000 has gone and it will never be recovered
Always consider recommended ready for your benefit.

 

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