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 78: The house sitting venture helping this young couple achieve their investment goals
Episode 77: How will the government's changes to tax depreciation impact investors?
Episode 76: SPI portfolio update: what's next for the team?
Episode 75: How travelling cross-country helped this investor buy 9 properties in 6 years
Episode 74: How this investor plans to double his portfolio within 10 years
Episode 73: Bad builders: how this investor bounced back
Episode 72: Policy changes to interest-only loans: what buyers need to know
Episode 71: How this 'stubborn' investor recognised a property lemon
Episode 70: How this investor complements each property and balances his portfolio
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
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