Buying an investment property is an exciting process but can also be daunting – particularly if you are a first time landlord to be! So, I thought I’d put together my Top 10 tips in what to look for!
This advice is to ensure you attract quality tenants, premium rental return and lease the property in a reasonable time frame. At the end of the day its about getting you the best returns with the least stress.
- A fenced yard is important as the majority of tenants will either have kids or a pet that they want to keep safe – its also a good general security measure and makes people feel safe if their yard is fenced.
- Double car accommodation – ideally a garage. Now this will depend if it’s a unit or a house – but certainly if it’s a house a property with double secure car accommodation will be more attractive to tenants.
- A workable and simple floorplan – tenants dislike a rabbit warren as much as everyone else.
- Built in robes in all bedrooms
- Air-conditioning or evaporative cooling. Can be hard to lease properties in summer without this.
- Ducted heating or other effective heating
- Full laundry – not a euro-laundry
- Close to amenities such as schools, transport and shops
- The property is in good repair and clean – if it’s not then you’ll need to bring it up to scratch before you leases it.
I hope this is helpful, if you’d like some more information on what to look for or you’d like to get a rental appraisal on property you own or are thinking of buying just give me a call on 0408 585 319.