The holiday season is a pretty special time – not only do we get to have all the annual parties, festive celebrations and a few public holidays giving us a well-earned break, it’s also a time to look forward to a shiny, bright new year. We are so pleased to see you, 2021!
Have you started thinking about how you want this year to look for your investment? It’s a great time to have a property for lease, with rentals in high demand in Perth. Before you jump in and take the first offer with a decent reference, we have done the leg work for the ultimate guide to maximise your investment in 2021. Happy New Year!
Add value with a simple renovation or by adding a few key, new furniture pieces and watch the rental price tag climb. If money is tight, a fresh paint job (go for neutrals for broad appeal and a brighter appearance) or an afternoon in the garden can boost the overall presentation significantly (yep, mow the lawn please!). Adopt a minimalist mindset for your property, which means clearing all paths, hallways and balconies, and decluttering so potential tenants can visualise how they will live in the space.
The best time to find a new tenant
There will always be people on the lookout for somewhere to live, but there are certain times of year when interest will be higher. Right now, from January to February, is prime time for people to move due to people moving their kids into different schools or universities, new jobs or renters after a lifestyle change as the new year rolls in. The second busiest time is winter (June to August) with six-month tenancies expiring and second semester of university kicking off. Also, when signing up a new tenant, align the rental agreement to finish during these two peak times.
Set your lease to match themarket environment
This is where a property manager can make a big difference to your life with a broad understanding of the market and experience with trends to advise you on what your new lease should look like and the ideal rental amounts. Otherwise, head down and you-know-what up for some serious research into the current market for the city and locality your property is in before setting new fees and lease terms.
Simple and effective home improvements
Aside from looking pretty, keep on top of minor home repairs consistently (another area property managers improve your quality of life – handball that one our way!) and consider small home improvements in line with your ideal tenant. If you have an apartment, install a washing machine and dryer. If you’re near a university, consider creating a study whether it’s a room or nook. If you’re currently sweltering away in Perth like us, air-conditioning units will be receive a big tick of approval from all potential tenants.
Hirea good property manager
Include all the above in things you don’t have to worry about when you have a great property manager looking after your investment. From marketing your property to securing the highest rental income, D Residential Group has a well-referenced list of potential tenants and if none are the perfect match, we create inspired online listings designed to attract further good applicants. And that’s just the start… Contact me on 0402 888 550 to discuss how we can help accelerate your investment and make the process enjoyable this year.