podcast

Easy ways to increase your rental income

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Brendan Kelly, RESULTS Mentoring 

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An example of how you might be able to increase rent if there's no air conditioning in the property, let's say. Then you might want to invite the tenant to see if they want air conditioning. If they do then you can say "Great, I'll give you air conditioning", and you do so at a certain price increase in rent. So for example, if it costs you $10 a week for two years to pay for the air conditioner you can charge then tenant $15 a week for that two year period. And then sign a two year lease agreement so that there is a pay back period for that person to enjoy it. Therefore you've increased the occupancy rate on a per a mum basis and you've increased your rent.

Listen to other instalments of The Smart Property Investment Show:
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?’
Episode 43: 22 properties by 30: Can Generation Ys build massive portfolios?
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