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 71: How this investor complements each property and balances his portfolio
Episode 70: Special episode: buyer’s agent answers more listener questions
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
Episode 68: Special episode: audience discussion live from the Property Buyer Expo
Episode 67: Don’t get ‘caught up in the now’: an expert reveals his tips for success
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
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