Having a rental property at a time when the market is running relatively low on vacancies is every landlord's dream. However, low vacancy rates do not automatically translate to higher rental income if your property is not up to the standard the market expects.
Here are a few hints on how to maximise your rental returns and keep good tenants happy:
1.Presentation Having a well-presented property will give you the greatest opportunity to attract the best tenants and snap them up without delay. Consider installing quality bathroom and kitchen fixtures and having the property painted in between each tenancy.
2.Cleaning Have the property professionally cleaned. An attractive property helps to attract a good tenant who will look after it. Again, fresh paint is also a great way to add appeal and give a sense of cleanliness and brightness.
3.Install quality carpets and curtains Stay away from cheap vertical blinds that blow and break when the windows are open. While they are inexpensive to install they don't help with the presentation of the property and need to be replaced sooner. Likewise, reconsider the type of carpets or flooring you will be installing. It should be tough enough to handle a lot of wear and tear, but still presentable. Neutral tones throughout work best.
4.Make sure things work Ensure that all the basic facilities such as the hot water system and plumbing are functioning well. Check that all doors and windows are properly maintained and have secure locks. By ensuring that your property is in good condition through regular maintenance, you may also avoid costly repairs further down the track.
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Having a rental property at a time when the market is running relatively low on vacancies is every landlord's dream. However, low vacancy rates do not automatically translate to higher rental income if your property is not up to the standard the market expects.
Here are a few hints on how to maximise your rental returns and keep good tenants happy:
1.Presentation Having a well-presented property will give you the greatest opportunity to attract the best tenants and snap them up without delay. Consider installing quality bathroom and kitchen fixtures and having the property painted in between each tenancy.
2.Cleaning Have the property professionally cleaned. An attractive property helps to attract a good tenant who will look after it. Again, fresh paint is also a great way to add appeal and give a sense of cleanliness and brightness.
3.Install quality carpets and curtains Stay away from cheap vertical blinds that blow and break when the windows are open. While they are inexpensive to install they don't help with the presentation of the property and need to be replaced sooner. Likewise, reconsider the type of carpets or flooring you will be installing. It should be tough enough to handle a lot of wear and tear, but still presentable. Neutral tones throughout work best.
4.Make sure things work Ensure that all the basic facilities such as the hot water system and plumbing are functioning well. Check that all doors and windows are properly maintained and have secure locks. By ensuring that your property is in good condition through regular maintenance, you may also avoid costly repairs further down the track.
