Tips for New Investors

If you have bought an investment property, or you are thinking of doing so, you should bear in mind the new raft of regulations that were introduced in March this year and ensure the property complies to the new minimum standards. Our property managers have been working closely with our new rental providers to provide a seamless introduction to property investment and to ensure it is a positive ongoing experience.

Your property manager will advise as to the estimated market rental, taking into account the age and location of the home, its size and whether it has been renovated or not. It may be a good idea to freshen the home up with a new coat of paint or for a long term investment consider a renovation of the kitchen and bathroom which will increase value and produce a higher weekly rent.

Encourage renter loyalty by prompt attention to any maintenance issue that may arise. Good long term renters are desirable to avoid those vacancies between tenancies so it’s a good idea to gain the trust of your renter and keep them from looking elsewhere at the first opportunity.

If you are thinking of becoming a rental provider our experienced property managers would be pleased to help you with any advice.

Until next week,
Nick Lord (Director)