If you are planning to make the most of your commercial property in Brisbane, then part of your investment strategy should be attracting good and reliable tenants to your property. Most landlords and investors, however, generally ignore this crucial part. They will focus on factors such as the pricing and how to boost their current portfolio. While pricing is an important factor in your property investment strategy, you must also place an emphasis on how you are going to make the property more attractive for your tenants so that it is in high demand. That is what you can expect from good .
If you are an investor, this is a question that will be at the forefront of your mind as it is going to directly influence your business bottom line. The first step when it comes to property investments begins with buying the right piece of property and then you can invest a little money in updating it to the right standards. Once you do that, you will be able to charge more and earn a higher rental yield while at the same time attracting a steady stream of tenants eager to stay at your investment property and do so within the shortest time possible. Lower vacancy rates often result in very high yields for your property. The rental growth market is currently quite sluggish and the smallest improvements can give you a slight edge in a competitive market.
The most important question
A professional property management Brisbane – Metrocity will generally try to determine the kind of tenant that they are trying to attract to their properties. When asking this question, it is important to remove yourself from the situation. You are obviously not going to live in the property and must, thus cater to the needs of those who will. Make sure you have a very clear idea of who your target market is as well as what they are looking for in a piece of property.
Carry out renovations
Do your best in order to ensure that your piece of property looks attractive to prospective tenants. Spend a little money in sprucing up various crucial areas on the property. There are certain areas that will need extra freshening for a good first impression such as the bathrooms and the kitchens. Repaint and if they are leaky taps and dated faucets, carry out some affordable but stylish replacements. You can also do some re-grouting around the sinks and the basins. When painting or replacing dating surfaces, stick to a neutral look. In case you have a sufficient budget, you can even consider replacing the kitchen fixtures.
If the house has a garden and compound, consider investing in some quick landscaping and garden makeovers. Many tenants value outdoor areas that look attractive. For gardening, you can consider planting some attractive but drought resistant plants that will transform the look of the outdoors.
Do some minor fixes
Inspect the property and if there are things that need some fixing, make sure that these are done in good time. You will be surprised at how discerning some tenants can be. Look at the door hinges, cabinet doors and whether the windows shut properly.
Hire a property manager
With a good property manager Brisbane – Metrocity, you will be surprised at the marvelous results that you can achieve with your property. Property managers have experience carrying out thorough background check, maintaining the property and getting you the right tenants.