Hi,
We are buying a house and land package, using an interest only investment loan, using your experience, when would be the ideal stage to contact an agent regarding potentional tenants.Is this best at lock up stage?
Also do you you think that “adding extras” to the house before completion, ie Ducted Heating, AirCon, will increase rental prospects, as this can be included in the original loan. Or are the gains negligable compared to the initial outlay.
Ps- We are new to property investment, so any advise re house and land would be great.
Regards
kate and Rich[
]Hi guys,
There’s no harm in starting to shop around for property managers before settlement…it’s a blessing to have a tenant ready to move in by settlement! Remember to ask potential property managers lots of questions – and don’t just pick based on their fee. See what the fee includes, how the manager has dealt with certain problems before, and how many properties on their rental roll.
It’s hard to say what additions to the property will bring in extra rent. The best thing to do is get the opinion of some property managers. Ask them what extra rent can be charged with specific ad-ons and do a cost vs return analysis for each one. Also speak to your accountant about depreciation allowances and incorporate that in as well.
Hope this helps
-NickHi Katerich.
I have been thinking about buying a block of land and developing it with units or villas. Do you mind if i ask what state you have built in and what company you went through?
Thanks
Hi Kate & Rich, we were told by a couple of agents that air con would add $15-20 per week in rental on one of our existing properties in Qld. It is a townhouse and we will be having a/c installed soon, split system. Keeps the tenants happy.I guess it may depend on where your property is, whether you put in split system, or just cooling. Good luck with your IP.
Anna2
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