How to Maximise Your Rental Returns

Even when rental properties are scarce and there are plenty of tenants looking for a place to live, a property that is poorly maintained will not give you the best return for your investment. In order to receive the most income possible it is important to keep your property in good order.
 
Assuming you have already taken care of the other factors in maximising your return such as location and access to transport, the following ideas will put you in good stead to keep the tenants coming.
 
Presentation – Marketing your property to potential tenants is similar to marketing a home for sale. Keep the main areas of the property in good condition, particularly the kitchen, bathrooms and floor coverings.
 
Cleaning – Hopefully your previous tenant has had the property well-cleaned upon vacating. Even so, having a professional come to clean the interior, including blinds, walls and carpets will remove odours and dirt making your property more attractive to prospective tenants.
 
Consider Air-Conditioning – In Australia, air-conditioning is a much sought after appliance. You may be able charge a slightly higher rent if you have it installed in your property.
 
Gardens – Keep gardens in good order and make it easy to do so by keeping them simple and water-wise. Even if your tenant is responsible for the general upkeep of the garden during the tenancy, an easy-to-care-for garden will make it easier and reduce the risk of a ‘jungle’ forming that you then need to manage during vacancies.
 
Prevention is better than a cure when it comes to regular maintenance of appliances, plumbing and electrical systems, saving you not only money, but also stress in the long run.