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Simple steps to boost your rental yield
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.
