The fact that there is a direct correlation between the appearance of an apartment and the rent you can charge to the tenants is completely undeniable. Factors like location, nearby landmarks, etc., cannot be changed in order to charge higher rent, however, there are features you can add that will definitely boost the value of your property and allow you to earn higher rental income.
When tenants look for apartments for rent, they look into the following factors:
- Location
- Outdoor spaces
- Kitchen inclusions
- Bathroom inclusions
- Pet friendly spaces
Whether you are offering a city apartment for rent or a real estate apartment for rent in major hubs like Sydney, this guide will help you gain a higher rental income regardless. Some of these tips may require you to spend a small amount, others may require you to spend a significant amount. However, the key takeaway should be considering these expenses investments instead of expenditure.
Keep reading to find out how you can charge high for your apartments for rent.
How to Boost Rental Income From Your City Apartments for Rent
These simple yet highly effective measures will definitely help you grow out of the cheap apartments for rent category!
Ample Outdoors Space
A huge, private outdoor space not only provides privacy to tenants, but is also used for multiple gathering occasions such as a Sunday brunch, or a barbecue session with your mates. It can be the perfect break from the hustle and bustle of Sydney life. Thus, it is a feature for which tenants are usually willing to pay more than their said budget! Thus, a backyard will always add value to your apartment for rent!
Make it Pet FriendlyÂ
Most families, or even bachelors have furry family members. Many city apartments for rent usually do not allow pets, many of which are cheap apartments for rent. Tenants are always willing to pay a little extra in order to keep their pets with them. Thus, this is another feature that will add value to your property.
Location & Street Appeal Â
First impressions matter! Yes, even when you are trying to lease off a cheap apartment for rent! The location of your apartment will make a huge impact on what you can charge, especially in a city like Sydney. If the location of your rental property does not have any securing parking spot, make sure you build a drive in to assure your tenants of secure parking.
Also Read: Tips on Buying Land for Sale in Australia
Abundant Storage Never Hurts! Â
Make sure your rental property has abundant & elegant storage space. This feature makes your apartment even more appealing to small or young families who have major storage needs. You can do easy and cheap additions such as an extra wardrobe or add storage under the stairs, etc. to add more storage space. This can earn you extra brownie points since extra storage is usually a blessing in Sydney’s city apartments.
Consider Adding New Spaces Â
Look at the layout of your apartment carefully. Does it allow you to add a new space to the property? If yes, you can consider building a small study room, or a home office, or even a small nursery. This will add tremendous value to your city apartment for rent.
Do a Kitchen Makeover Â
A kitchen is the centre of all home plans and what ties everything together. It’s where families spend most of their time, eating and bonding together. Thus, you have to make sure your kitchen has everything your tenants may need. From oven, microwave, range hood, to ample storage space. This will make your apartment an instant attraction for tenants.
Hope you found this helpful! Thanks for reading!
