Getting Growth: Maximising Your Returns
So you’ve made the leap and bought your first investment property, but what’s the next step? You want to find the right tenants to rent your property, and make sure the house they’re in doesn’t decrease in value over time. But how do you do that?
It Pays to Advertise
It’s easy to be put off by high advertising costs, especially in the digital age when there’s dozens of free avenues to promote your property. The problem is these same avenues are open to everyone, so it’s hard to stand out from the crowd. If you pay a little more for advertising at the start, you’re likely to attract more tenants to your property to maximise the rental price, easily covering any initial expense.
Keep Up to Date
Once you’ve got a tenant, don’t just assume your property will stay in perfect shape without any maintenance. If and when your tenants move out, use this as a chance to get some renovations or updates done before securing a new renter. This way you can ensure your property still has the same appeal it did when you first bought it.
Follow the Market
When it eventually comes time to cash up and sell your investment on, you want to know what’s the best price you can expect. This is where it’s important to keep track of your area, and you can take advantage of our free quarterly reports
to show you the market’s ups and downs, and let you know when’s the best time to sell.
You can always check in with our Property Management Department
for our expert advice on how best to manage your investment, or talk with any of our agents to see about selling. Whatever you’re looking for, we’re here to help.