Increase Rental Income And Property Value

Here are some strategies you can consider to achieve the double win of increasing both your rental income and property value:

Boosting Rental Income:

Enhance Curb Appeal: A well-maintained exterior with fresh paint, landscaping, and good lighting creates a positive first impression for potential tenants, allowing you to potentially charge a bit more. Consider adding features like a stoop or balcony if feasible and allowed by regulations.
Upgrade Amenities: Consider adding amenities that are in demand in your area. This could include in-unit laundry, smart home features, pet-friendly features, or additional storage space. However, make sure the cost of the upgrades is justified by the increase in rent you can command.
Target Specific Tenants: Research what types of tenants are willing to pay more in your area. For example, young professionals might value proximity to public transport or high-speed internet, while families might prioritize a backyard or play area.
Offer Flexible Lease Terms: Consider offering shorter lease terms (like 6 months) at a slightly higher rent to attract tenants who might be more flexible with their stay. This can also help you adjust rent more frequently based on market conditions.
Maintain Occupancy: Vacancies eat into your profits. Aim to minimize vacancy periods by offering incentives for early lease renewals or implementing professional property management.
Contact Us
Phone 1300 728 157
Mike Wilczynski
[email protected]
Level 2, 70 Hindmarsh Square, Adelaide 5000, Australia