Investors often want to know the secret to buying a rental property that will be in demand, attract quality tenants, minimise vacancies, provide a good short-term return (highest possible rent) and increase the long-term asset value of the investment.
What tenants want will depend on many factors specific to their needs. However, research has shown that location, nearby amenities and transport, safety and security, parking, presentation, good state of repair ready to move in, appliances included, age of property, open floor plan, adequate storage, outdoor space, little extras included (pool, lawn and garden care), air conditioning/heating, pet friendly, NBN connections/Internet and a good landlord that is willing to act quickly on maintenance requests are the key deciding factors.
Research also shows that school zones (where the property is close by or within walking distance) can be in higher demand, which can often be overlooked by investors as a deciding factor in buying a property.
If you are looking to expand your rental portfolio we are more than happy to assist and provide you with value-added feedback before buying.
Reference: PPM Group