5 Easy Steps To Improve Your Rental Income

Owning property and renting it out is a great way to earn an easy, passive income. If you’re considering purchasing property with the intention of renting it out and becoming a landlord, there are several things you can do to help you get a great rental income. Here are just 5 great and simple ways to get the best rental income possible:

Advertising

1. Advertise your property for a slightly higher rate than what you actually expect to get. This will result in either a higher rental income or more room to negotiate with prospective tenants who want to go for a lower price.

Clean Floors

2. Before any prospective tenants arrive to view your property, ensure it is in immaculate condition. Make sure your floors, walls, windows and all of your surfaces are spotless, hygienic and in good condition.

Front Door

3. First impressions are important. Ensure that the exterior of your property is just as appealing to potential tenants as your interior is. This means ensuring newly painted walls, replace the front door if it looks unsightly or old and make sure windows look rust free and in good condition from the outside.

Furnished

4. If your rental property is furnished, ensure that all appliances are in great working condition and look good too. Shine and polish them up.Make sure that furniture is modern and clean. Hire a deep cleaning service to make sure that all beds and sofas are clean and fresh.

Dress Smart

5. Dress the part. If arrive at your property viewing looking sloppy and poorly dressed, prospective tenants will reflect their view of you onto their view of your property.Look smart and well put together, and make a great first impression. Make sure you come off as friendly and easy to talk to-nobody wants an unpleasant, miserable landlord.

When considering your weekly rental remember every additional $5 per week you can increase the rent is $260 a year in additional income, stick to your price and don't get caught negotiating down when you could easily find another tenant willing to pay top dollar.

Here to two great books on managing your Investment Property and Maximising your rental returns

1. Simple and Successful Property Mangement

2. Managing your Investment Property

Simple and Successful Property Management Managing your Investment Property


 

Jason PennaAbout Author

Jason Penna

Jason is director at Australia's leading property investment book website Propertybooks.com.au. He has worked as a financial adviser for over 10 years in institutions such as Suncorp Metway, Medfin and National Australia Bank. Jason has a passion for property and online investment and has a number of real estate property investments and online investments. He holds a Diploma of Financial Advising from the Securities Institute of Australia.

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