Achieve Hassle-Free Investment with These Tips
Investing in real estate can be perceived as a daunting task, but it doesn't have to be. With the right agency, the experience can be simple and stress-free. Explore our top 6 tips to minimise stress and maximise the standards of your tenancies.
1. Optimal Presentation with Quality Photography:
Enhance the appeal of your rental property by utilising appealing photography when advertising. This not only attracts a higher return but also appeals to high-quality tenants, reducing stress and potential future expenses.
2. Maintaining Lawns and Gardens:
Present a well-maintained exterior for marketing photos and viewings. A property in good condition outside signals respect from the owner and agent, attracting higher-quality tenants and ultimately easing the management process.
3. Regular Routine Inspections for Property Maintenance:
Conduct regular inspections with well-documented reports to ensure your investment property remains in optimal condition. Consistent attention prevents issues from escalating and reflects a commitment to property upkeep.
4. Secure Your Investment with Landlords Insurance:
Ensure your investment property is adequately covered with the right insurance. Standard coverage may not protect against loss of rent or tenant-caused damages. Contact Next Level Property for some recommendations on who can assist.
5. Smoke Alarms for Safety:
Employ specialised technicians to install and regularly check smoke alarms, meeting Australian legislative standards (here in NSW they must be checked every 12 months). Next Level Property work with a Compliance Company to guarantee all managed properties adhere to safety requirements, providing peace of mind for property owners.
6. Maximise Savings with Tax Depreciation Schedules:
Consult experts to create a depreciation schedule for your property, saving costs beyond what regular accounting covers. Identifying depreciating items in your home can result in substantial tax savings, often exceeding management fees.
Bonus Tip: Partner with a Dedicated Property Management Agency:
If managing these tasks seems overwhelming, engaging a dedicated property management agency with experienced and passionate staff. Remember that quality often corresponds with price, so prioritise value over the cheapest option.
Transform your rental property experience into a stress-free and rewarding venture by implementing these tips. Whether you choose to manage independently or enlist the help of a reputable agency, these guidelines will contribute to smoother operations and enhanced property value.
If you have any further questions regarding investing please feel free to get in touch with Next Level. You can contact us either by calling 0402 866 885 or sending an email to info@nlproperty.com.au. We are here to assist you and are eager to provide any additional support you may need.
