Stay on top of rent reviews
To maximise the return on your investment, it
is essential to keep on top of where the rental market is heading.
Conducting annual rent reviews will ensure you
always achieve the best possible price and therefore returns on your asset.
Often, by increasing your rent in line with the
market, you can decrease the divide between rising monthly mortgage repayments
and the contribution your tenant makes each month.
A word of warning though…
Getting too greedy can have the opposite effect and
alienate a good tenant, who might decide to move on to greener pastures.
For this reason, you need to weigh up whether
gaining a bit more in the short term could see you lose out in the long term
because your property is overpriced and remains vacant for longer.
Right now, at
RealRenta Join now and get 50% off the normal low price:
That’s the cost of 1 cup of coffee a week to manage your rental property
RealRenta also has a
free vision, so why not check it out
Wednesday, 27 January 2021