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How To Increase Returns On Your Investment Property

By Dominique McKenzie

In the ever-changing landscape of real estate investment, landlords are facing new challenges, such as rising interest rates and increased council and water rates. To navigate these hurdles successfully and ensure a maximum return on investment, landlords need to focus on key features that make their rental properties stand out. So what are tenants looking for when searching for a rental property? These three features are considered crucial in meeting the evolving expectations of today’s tenants, thereby boosting weekly rents and minimising vacancies.

  • Security: A Growing Priority

In an era where concerns about crime are on the rise, security has become a top priority for renters. Prospective tenants are more inclined to choose properties that offer robust security features, such as surveillance systems, secure locks, and well-lit surroundings. By addressing these concerns, landlords not only make their properties more appealing but also contribute to the safety and peace of mind of their tenants.

  • Air-conditioning: Comfort in Every Season

With changing climate patterns, air-conditioning has transitioned from a luxury to a necessity. Prospective tenants expect a comfortable living environment, particularly in a Far North Queensland climate. Landlords who invest in quality air-conditioning systems not only cater to this demand but also open the door to higher rental incomes. This simple addition can make a significant difference in the perceived value of the property.

  • Dishwasher: A Modern Convenience

In today’s fast-paced lifestyle, tenants value time-saving amenities. A dishwasher is no longer considered a luxury but a practical necessity. Including this feature in a rental property can set it apart from the competition, making it more attractive to potential tenants. It’s a small investment that can result in higher rental returns and increased tenant satisfaction.

  • Storage Space

When considering a rental, the availability of space is a crucial factor for many tenants. Specifically, assess whether there is sufficient storage for daily essentials and designated space for seasonal items or bulky equipment.

Beyond the bricks and mortar, residential property investment involves catering to the evolving lifestyles of Australians. Modern tenants seek properties that align with their lifestyle preferences, and they are willing to pay a premium for it. 

If you require more information or assistance regarding your investment property, contact our team on (07) 4057 1800. 

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