Being a property investor is a great way to build your financial portfolio, a sound investment option right? It can definitely be a peaceful and stress free option - but only if you make the right steps to grow your rental yield, manage your time and find great tenants. With a property manager onboard to help you in your investment property, you can sleep easy knowing that your investment is safe and sound. But there are a couple of other things to consider with your investment property if you are opting to rent it out - the wants of the renter!
So what do renters really want?
Off street parking
Especially important for renters with cars - off street parking is a massive bonus to any rental. In some properties this can be problematic but if you have it then flaunt it!
Location
A big consideration to any renter is the location of the property. While this obviously can’t be changed on any current investment properties you own, it’s a big consideration for future property purchases. Be sure to check in with your YNM property manager as they will be able to best advise on the strategy to take for purchasing your next rental property.
Pet friendly
Especially with people spending more and more time at home at the moment, renters are looking for homes that are pet friendly. There are some improvements that you can consider making to make your property more attractive to pet owners.
Air conditioning and heating
Renters are looking for homes that will be the most comfortable - air conditioning and heating are just some of the added benefits that will make your home more attractive.
Storage space
Does your home have adequate storage space? Many renters need to see what kind of storage solutions are available and often will ask about it during their viewing. If your property is not fitted with storage solutions then perhaps it’s time to consider upgrading.
