Boost Your Property Investment Returns: Top New Year’s Resolutions for Landlords

Posted 15th November 2022 by Pillar Property

As we step into the new year, it’s the perfect moment for property investors to set impactful resolutions to enhance net returns. Reflecting on the previous rental year can unveil valuable insights. Did you experience vacancies? How long did it take to fill those vacancies, and were you able to secure rent increases or long-term tenants? Here are key resolutions to boost your investment performance in the coming year:

Maximize Rental Income

First Resolution: Strategize lease renewals to coincide with high-demand seasons. Consult your property manager to identify these peak periods. Tailoring your lease terms to end during these times can minimize vacancy durations and potentially increase rental rates.

Optimize Loan Terms

Second Resolution: Reevaluate your mortgage conditions. With competitive rates and enticing incentives for property investors, now’s the time to consider refinancing. Locking in a low rate could significantly reduce your expenses and increase your overall returns.

Upgrade Your Property

Third Resolution: Assess the need for upgrades or enhancements to your property. Whether it’s installing built-in wardrobes, updating window treatments, or modernizing fixtures, such improvements can boost both the rental and capital value of your investment. The beginning of the year, especially leading up to the end of the financial year, is ideal for making these enhancements for both tax advantages and appealing to tenants seeking long-term leases.

Implementing these resolutions can position your property investment for success, ensuring it remains competitive, desirable to tenants, and financially rewarding. Make this new year the turning point in your investment strategy, setting the stage for a prosperous year ahead.

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