Being a wise investor, it should be your primary goal to achieve lucrative long term rental returns from your property, but most of the times, due to have insufficient knowledge of how things work, it gets tough to manipulate with the situation. And this is where you require expert advice to make right decisions. If you are clueless about maximizing on rental apartments or homes, then here a few ways to cooperate with the things appropriately.
To make this commitment, you must consider investing in blue chip, median priced properties in the urban locations and hold them till their rental income and capital goes up. This strategy is tried and tested by the experts and has been working effectively for more than two decades. This technique has helped many individuals regardless of the broader market conditions.
So, if you are planning to make a good income by deriving good rental income from your properties then focus primarily on buying blue-chip properties in the inner suburbs. Regardless of the finer details of your investment strategy, it makes a complete sense.
So, start investing in Blue-Chip Properties in the Inner Suburbs…
The reason why we suggest you to invest in blue-chip properties in suburbs is because majority of working professionals want to live in inner suburbs that are close to their work location or offices. They tend to stay around the accommodation that offers then a god balanced of lifestyle and required facilities such as- Shops, Cafes, parks, beaches, restaurants or lakes and blue-chip properties have potential to meet most of these requirements.
Due to the limited supply of such property pieces, there would also be a rental demand that you can reimburse beautifully by offering them an affordable rent by evading the mind-bursting risk of letting your property of being untenanted. People need to stay even in downturn sand since you get to invite trustworthy professionals as your tenants; there is a lesser risk of future based issue.
So, here are a few tips to attract renters…
Properties within 10–20% of the median price range for that particular area are sound to be reasonable for approx 80% renters. So, there are more chances of enjoying steady acquiesces. While you are strictly advised of not to sell it because these properties shine by the time, however you can find various buyers to pay an attractive amount for this. it means that, by investing in such properties is always beneficial whether you keep it, sell it or put it on rent. For the balanced rental income and capital gains it’s a best option to invest in median priced properties.
Find out these five perfect tips to find a good long-term rental returns
Make a throughout research about median prices property through trustworthy avenues such as- RP Data, Australian Property Monitors and Residex.
Property with the 5-15km area from CBDs apparently have limited supply of land and a lot of demand so such properties which come under kinda areas always perform better than the cities in outer suburbs.
Since buyers and tenants both have the same expectation of seeking a good lifestyle. Your property should be near a few required leisure areas such as- as beaches, lakes, parks and cafes
At the median price within the area, check out what type of property is widely favoured by the people- whether it’s house or unit, one or two bedder etc.
Buy a property in a area you are aware of. You must have the market knowledge for that particular area to avoid paying extra bucks and to skip cons and crooks.