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Landlords must pay money to make money, franchise boss says

Landlords must pay money to make money, franchise boss says

by Elyse Perrau 2 comments

Property managers who fail to convince landlords to invest in attractive utilities could see clients struggle in a low-yield market.  

Professionals chief executive Shane Kempton said now yields were under pressure, boosting rental returns is a key issue for owners of investment properties.

“We find rental properties with a high level of security are now much easier to lease and tend to have a higher rental return,” Mr Kempton said. 

“Therefore, rental property owners should ensure that, for example, the property has security doors and security window locks.” 

Mr Kempton said installing a garage door into a property with a carport would also make it more attractive to prospective tenants. 

“Installing an air-conditioning unit as well as a dishwasher are two other key features that prospective tenants increasingly want in a residential property.

“Reverse-cycle air conditioning systems are the most popular with tenants because they allow for temperature control in summer and winter.”

Mr Kempton said the property should also be well maintained and a gardener contracted to maintain outdoor areas. 

“Rental properties with poorly maintained gardens are more difficult to lease and achieve a lower rent compared to similar properties with well-maintained gardens,” he said.

Mr Kempton said landlords can boost rental returns by leasing a property to a tenant with a pet.

“Pet owners will generally pay a higher rent and the landlord can request a pet bond from the tenant to cover expenses for any damage,” he said.

[Related: Furnished rentals reap rewards]

 

Landlords must pay money to make money, franchise boss says
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