Improvements – When looking to boost your rental income, you should first consider what improvements can be reasonably made to the property. If you want to ask a tenant for more money, be they a current renter or a future applicant, you need to be able to justify that request for more rent.
Look for options that require an affordable outlay with a big rental return upside. For some properties, this may be fixing up damage and rectifying what was previously a poorly maintained home – tenants will not want to pay full market rent for a home that is sub-par, particularly if competition in the market is weak and they can afford to be choosey.
For more information on this and many more frequently asked questions – contact us on 0488 662 216 or email us at rentals@therentalexperts.com.au
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