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6 Ways to Boost Your Rental Income

Achieving a strong return in rental income is a key goal for many property investors, and there are effective strategies to boost your rent without waiting for market conditions to improve. Here are some valuable tips to increase your rental income:

  1. Replace Appliances: replacing the tired old oven or stove and replacing or adding a new dishwasher always adds to the appeal of a property.
  2. Adding security: ensuring that doors and windows have good key locks, and even adding a security alarm, provides peace of mind and sense of wellbeing and safety. Tenants can also receive a discount on their tenant contents insurance if the dwelling has better security. This just adds to its appeal.
  3. Refreshing the Property: adding a new coat of paint to the walls and woodwork, replacing tired or damaged flooring or making other improvement can increase the appeal of the home and can also increase its demand and rental asking price. Don’t forget your tax depreciation benefits when renovating. Speak with your accountant on this one.
  4. Bullet-Proof the Garden: let’s face it, tenants in general don’t like gardening. Therefore a low-to-no maintenance garden will be attractive. Can the small lawn area be replaced by synthetic turf? Can gravel, stones or other landscaping material that looks attractive replace lawns and gardens? Can the watering systems be automated? Tenants really do value convenience.
  5.  Street Appeal: prospective tenants do judge a book by its cover so it makes sense to make sure that the cover looks great. Do the letterbox or fences need new paint or even replacing? Do the gardens need weeding and mulching? Does the garden need a facelift? This doesn’t have to cost a lot to look great!
  6. Add Storage Space: tenants love storage space, especially when they don’t need to bring it with them. Installing built-in robes and cupboards that use space in a smart way and adding shelves in bedrooms or in the garage will make the home more attractive. Is there space under a staircase that can become storage space? Be creative!

A small investment can often result in a larger return and a happier tenant. If you feel that your current rental income could be higher, reach out to Blackburne Property Management Perth today. Our experienced property managers can provide further ideas and strategies to boost your rent and maximise the potential of your investment property.

Switch to Blackburne Property Management

Whether you have a residential or commercial property, we work to secure the highest return on your property asset. How? Our strategy paired with our experienced team achieve well above market rental returns for our landlords. Register for your complimentary appraisal and switch today.

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