Brighter Landlording

How to maximise your rental returns

by Justin Watt, CEO 10 April 2016

You’ve put in the blood sweat and tears to get into the market.. now you just want your rental income to flow - consistently. When the rental market flattens out, your returns don't need to.

Here are some great tips to ‘bullet-proof’ your income.

Pets Please
Yes we know it’s scary to allow pets, but there’s rewards for the courage. A “Pets on Application” statement can attract up to $20 increase/week and make your property in hot demand…a “no brainer’ really when you consider 60% of Aussies are pet owners and a third rent. The icing on the cake is your tenants stay longer (especially if they’ve struggled to find a pet-friendly rental).

Renovating Right

The easiest way to get your rents higher is to undergo a light reno. Light doesn’t mean wrecking balls and structural mayhem! Keep it cosmetic and keep it simple…new paints, carpets and kitchen tiles or laminate maybe. It’s even worth letting your property manager organise the reno for you – they usually ‘know people’.

The ‘Ol Backyard Shed

Always popular with tradies and in bayside suburbs where backyard boats are common. One of our investors popped a $560 tin shed in the backyard…voila upped the rent by $35 per week. His shed was paid off in some 12 weeks and continues to increase his rental yields!

Room-by-Room Letting

This is not one of our services but we’re all for ‘great for your back pocket’ ideas. If you’re prepared to be more hands-on with management, the growing trend of room by room letting may appeal. Find tenants seeking a single room (yes there’s plenty out there!) and charge a 20 – 30% premium for leasing the rooms separately.

Fab Four Furnishings

We’re not suggesting a full house furnishing; the fab four would be a good start – dishwasher, washing machine, dryer and microwave. These simple luxuries will dial-up your rental income and add appeal.

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