Thinking of getting into Investment Property?
Like all investments it pays to do your homework before you take the plunge into property investment. But even with uncertainties around interest rates, a sound strategy can pay off.
The shortage of rental properties, combined with rising prices in most markets, means that if you choose the right property and make sure you keep a close eye on your investment, you could reap the rewards.
At LJ Hooker House, we have the team to help you both choose an investment property and to then manage your investment to reap the best rental returns.
If you want to know more about how to manage your prospective investment, please give us a call.
For Residential Property Management:
Rowena Walton - Property Investment Manager
Read more about Residential Property Management here.
For Retail & Commercial Property Management:
Scott Stephens - Director of Retail & Commercial
Jessica Phillips - Commercial Property Manager
Read more about Commercial Property Management here.
When you talk with LJ Hooker House you'll find we have the highest standards of honesty, integrity and professionalism, unmatched in todays real estate market place.
If you're thinking about getting into Investment Property, then have a conversation with us today on 02 9969 1500.
We are your Lower North Shore Property Experts, with vast experience in all things real estate.
Here are 7 property investment tips to help you get the most from your investment:
- Take a long term view
- Choose the right investment property
- Consider positive vs negative gearing
- Consider using existing equity in any other property you own
- Consider buying with friends and family
- Choose the right investment property loan tailored to your current needs
- Seek professional advice
Things to keep in mind when investing in property and choosing a property manager:
- Confirm the term of lease reflects the current market environment, as well as your investment goals. The supply and demand of rental property can vary significantly within the term of a lease, as does going market rent. If you are looking for stable yield, you may be willing to sacrifice on monthly rental for long term continuity of revenue. A professional property manager can advise you on how to extract the best return on your investment property.
- Property owners are obliged to ensure your property is secure and lockable, so make sure you have security measures in place, i.e, window locks and deadlocks. Tenants are often not able to insure their belongings when there are not specific security precautions in place.
- Check the detail re: tenant-landlord responsibilities in the Special Conditions of your lease. Tenants may ask you to arrange and pay for repairs that are actually their obligation.
- Have all your paperwork in order. Tenants can dispute claims on a bond through an application to a Tribunal, whether it be for lost keys, costs or repairs or other tenets of the lease agreement. Know your rights and obligations upfront, keep receipts and copies of correspondence between you and your tenants. Your property manager can handle this for you.