As a landlord in South-East Queensland, maximising your rental income is key to ensuring your investment property remains profitable. However, increasing rental income can be challenging, especially in a competitive rental market.
In this article, we’ll provide tips on maximising your rental income and how Housemark can assist you in the process.
Set The Right Rental Price
Setting the right rental price is crucial to attracting quality tenants and maximising your rental income. Research the rental market in your area and set a competitive rental price that aligns with similar properties. This will help you attract quality tenants and maximise your rental income.
At Housemark, we can assist you with rental price assessments, providing insights into the rental market and ensuring you set the right price for your property. We have a team dedicated to helping new landlords find the right price for their property and establish an investment strategy going forward.
Offer Value-Adding Features
Offering value-adding features can help you increase your rental income and attract quality tenants. For example, if your property has a backyard, you can add a garden or outdoor living area to make it more attractive to tenants. Consider installing air conditioning, ceiling fans, or other amenities that add value to your property.
Maintain Your Property
Maintaining your property ensures its value and maximises your rental income. Ensure that your property is in good condition and make repairs and upgrades as necessary. This will help you attract quality tenants and increase your rental income.
Housemark has partnered with several highly reputable, affordable and efficient companies to ensure your property is properly maintained. Inevitably, your property will require maintenance from time to time. It pays to have a property management group in your corner who can contract the best trades to keep your costs as low as possible whilst maintaining the highest standards.
Consider Flexible Lease Terms
Consider offering flexible lease terms to attract quality tenants and maximize your rental income. For example, you can offer a longer lease term, such as a 12-month lease, or allow pets on the property. This can help you attract quality tenants and increase your rental income.
At Housemark, we can assist you with lease agreements and ensure that your lease terms are flexible and attractive to quality tenants.
Maximizing your rental income in Brisbane or South East Queensland requires setting the right rental price, offering value-adding features, maintaining your property, and considering flexible lease terms. At Housemark, we can assist you with maximizing your rental income, from rental price assessments to property maintenance and lease agreements. Contact us today to learn more about how we can help you maximize your rental income.
