Why you should treat your investment property like a small business.
Actively managing your investment portfolio is vital to the success of positive investment returns. However, this may not be as simple as it sounds, and the best way to approach your investment is to treat it like a business.
Like a SME owner, investors must understand the supply and demand issues relating their rental property, income and expenses, and the business and legislative environments such as residential tenancy act and strata issues.
Also like a business, your property needs to remain competitive to attract customers (we call them tenants). To this end it’s vital that you review the rent regularly, say every six or 12 months and with every change in tenancy, to ensure it remains competitive against the market.
Rental reviews are crucial as they can help determine the rental yields, you’re achieving. Knowing the rental returns is critical to understanding how your asset is performing.
If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Head of Property Management, on 9651 1666 or anna@guardianrealty.com.au.
Important note: Clients should not rely solely on the content of this newsletter. All endeavors are made to ensure the content is current and accurate however, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readers should seek their own independent professional advice before making decisions.