Before deciding to invest in real estate, a responsible Landlord must be well aware the key to a good start is securing the right property that can provide you with the highest possible returns.
When searching for a property to invest in it is important to do your research. Know what to look for and make sure that you are choosing a property and suburb is within your investing range.
Suburb
If you are aiming to attract quality tenants then finding a good suburb matters a lot. Scan through suburb profiles online and pay close attention to details on demographics such as the population, current vacancy rate, employment rate and the suburb's median rent. You may want to look at the suburb's amenities and landmarks that would possibly draw people in.
Schools
Properties close to schools and universities have a higher chance of getting rented compared to those that aren't. Schools not only attract students, they also attract young families.
Employment
Look for suburbs where there are growing opportunities for employment as these areas attract the most tenants. Be on the lookout for companies opening or moving to certain areas as there certainly would be an influx of workers moving there as well.
Amenities
Does the suburb have shopping strips, gyms, parks and movie theatres? How close is the property to the bus stop? What types of public transport are available? Look for areas with the best blend of amenities and private properties.
Crime
No renter wants to live on a property near criminal activity. Be sure to find accurate crime statistics for your target neighborhood from the local police or public library. Consider the rates of vandalism and other serious or petty crimes. Also, take note if criminal activity is on the rise or declining and if police are frequently in the neighborhood.
For your free investment property health check, please contact 03 9525 3666 or office@c21prime.com.au
When searching for a property to invest in it is important to do your research. Know what to look for and make sure that you are choosing a property and suburb is within your investing range.
Suburb
If you are aiming to attract quality tenants then finding a good suburb matters a lot. Scan through suburb profiles online and pay close attention to details on demographics such as the population, current vacancy rate, employment rate and the suburb's median rent. You may want to look at the suburb's amenities and landmarks that would possibly draw people in.
Schools
Properties close to schools and universities have a higher chance of getting rented compared to those that aren't. Schools not only attract students, they also attract young families.
Employment
Look for suburbs where there are growing opportunities for employment as these areas attract the most tenants. Be on the lookout for companies opening or moving to certain areas as there certainly would be an influx of workers moving there as well.
Amenities
Does the suburb have shopping strips, gyms, parks and movie theatres? How close is the property to the bus stop? What types of public transport are available? Look for areas with the best blend of amenities and private properties.
Crime
No renter wants to live on a property near criminal activity. Be sure to find accurate crime statistics for your target neighborhood from the local police or public library. Consider the rates of vandalism and other serious or petty crimes. Also, take note if criminal activity is on the rise or declining and if police are frequently in the neighborhood.
For your free investment property health check, please contact 03 9525 3666 or office@c21prime.com.au