podcast

Simple steps to boost your rental yield

Simple steps to boost your rental yield
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Todd Polke - Positive Real Estate

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For investors when it comes to boosting your rental yields your magic ingredient's really going to be your local property manager. They're the ones who know the local property market. They know the demographic that lives there. They know your tenants and to what they're going to really value in their lives and what yet want for themselves and their family, whoever it actually is. So when you're trying to do this what you've got to go focus on doing is going and having an interview with your local property manager or find a few different ones. Find out what the tenants and what the local demographic is going to want, and then find ways to actually give that to them. For example, when you're going up in Queensland it really is much more of an outdoor lifestyle because of the climate up there. So perhaps up in that type of market it's about providing more of an outdoor living entertainment space is really going to add a lot more value. When maybe heading down to Melbourne, where it's more indoors and potentially closed off due to the environment again, the climate. It might be more focused on providing more of an entertaining space internally or providing some storage for tenants. So just make sure you go and talk to your property managers, sit down and interview them. Find what the local demographic tenants want and then find a way to give that to them.

 

Listen to other instalments of The Smart Property Investment Show:
Episode 53: 6 properties in 2 years: how this investor is achieving his goals
Episode 52: Will property prices fall? When? And by how much? What investors need to know
Episode 51: SPECIAL EPISODE: SPI team reveals all the financial details of its portfolio
Episode 50: 8 properties by 25: Former housing commission kid reveals how he changed his life and created wealth
Episode 49: How to build a sophisticated multi-property portfolio
Episode 48: ‘From just $2,000 in my pocket to 6 properties’
Episode 47: The SPI Show answers more listener questions: Special episode
Episode 46: 4 properties by 24 – how to build a portfolio without sacrificing fun, travel or food
Episode 45: Special guest Mark Bouris on what really makes property prices rise and when to invest
Episode 44: ‘11 properties by 31, now I’m stuck: What’s next?’
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