All Topics / General Property / rental returns

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  • Profile photo of everdineeverdine
    Member
    @everdine
    Join Date: 2003
    Post Count: 119
    December 25, 2004 - 12:04 pm

    Merry Christmas Everyone.[xmas]

    We read on here how people paint their properties, or put up a carport increase their rent.

    Just wondering how you do this? Is this between tennants, or when an annual increase is due?

    You make it sound so easy, are we missing something?

    We “own” 3 IP’s in different areas, and there are set rents that people will pay in each area and it doesn’t seem to matter if one has a carport or even en-suite the rents are the same and they have “platforms” of acceptable rents in the area, & where the only seeming way to increase the rent is if you add a bedroom.

    We seem only able to get the annual rent increase.
    And for us “newbies” that, at this stage, isn’t as much as the amount the loan is going up as we come off honeymoon rates. Fortunatley, they are positively geared so this is absorbed at this stage.

    However, if any more experienced folks have helpful advise on this it will be gratefully received.

    Diane

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493
    December 25, 2004 - 12:22 pm

    I have been told it is a matter of approaching the tenants and asking what they want. An example is:

    If I install air-conditioning, would you pay an extra $10 per week rent?

    Robert Bou-Hamdan
    Mortgage Adviser

    0414 347 771
    [email protected]
    http://www.mortgagepackaging.com.au

    FREE Finance-Related Newsletter – Click Here

    Comments made are of a general nature and should not be construed as individual advice.
    © 2004 Mortgage Packaging Pty Ltd

    Profile photo of everdineeverdine
    Member
    @everdine
    Join Date: 2003
    Post Count: 119
    December 25, 2004 - 12:44 pm

    So our mistake was to do the place up before we got tennants?
    We have spent our days off doing repairs and maintenance before we got tennants. We couldn’t rent them as they were. We thought we would get better tennants for freshly painted, carpeted, air-conditioned and well maintained properties.
    We put up a carport and that was expected of us – by the property manager – it also added value, & was supposed to discourage the tennant from parking on the front lawn under the tree.

    So now our tennants don’t want for anything we seem to have shot ourselves in the foot??

    [biggrin] Diane

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493
    December 25, 2004 - 12:58 pm

    There is always something. How about gym memberships or new push-bikes?

    Some of the people on this website have done some amazing things to increase rent.

    Robert Bou-Hamdan
    Mortgage Adviser

    0414 347 771
    [email protected]
    http://www.mortgagepackaging.com.au

    FREE Finance-Related Newsletter – Click Here

    Comments made are of a general nature and should not be construed as individual advice.
    © 2004 Mortgage Packaging Pty Ltd

Viewing 4 posts - 1 through 4 (of 4 total)

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