5 Strategies to Maximise Property Returns
Here are the 5 tips that he talks about:
- Renovating where and when needed. This may amount to something as simple as a fresh layer of paint and something as all-encompassing as a bathroom or a kitchen upgrade.
- Add further appliances; those which may include, but won’t certainly be limited to, air conditioners, alarm systems, and dishwashers.
- Not many landlords are keen on pets so you can definitely charge more in rent if you allow them. Yes, you require a reasonable insurance while making such a move. Be prudent!
- Don’t ask too much above the going rate or you may end up losing prospective tenants.
- Seek property development. The new regulations favour such development and for all you know, you may end up having two properties over a land you just have one presently.
You can read the original article here.
The fifth tip to maximising property returns is quite to my liking. I have been very fond of Subdivision. It is a great way to add a property to your tally. Subdividing comes with its fair bit of complications though. For instance, how it can be meted over a really big-sized plot, what about inheritance land, assumptions regarding capital gains tax, among other things.
All said and done, if you have a property which you think has a good amount of land beneath it, it is prudent to get it subdivided. It is nothing short of a brilliant way to add to the property portfolio. I also see subdivision as the alternative to the introduction of granny flats.