When purchasing an investment property, you need to consider what desirable features tenants are looking for in rental properties.
The kind of tenant and demographic you target will largely depend on where your property is located. For instance, if your investment property is an apartment in the city, young professionals will likely be your target tenant rather than families.
There are some key attributes to look for in investment properties that will be attractive to potential tenants:
Location, location, location
Consider suburbs with high amenities including schools, cafes, supermarkets and parks as well as good transportation options which will add value to your investment property. Tenants will highly value convenience and good social lifestyle options.
A majority of WA residents still heavily rely on cars and as a result, it would be advantageous if your rental property had parking availability. Garages and street parking are common in Perth’s suburbs, but for suburbs in the inner-city it can be limited so if your property had secure parking you’re already ahead of the game.
Not having an air-conditioner in your property may be a deal breaker for some tenants as it can be unbearable in the summer. It is worth ensuring that your property has aircon or you are willing to having one installed for your tenant’s comfort.
Good quality fixtures and appliances
It is beneficial to ensure that you have good quality fixtures and appliances as tenants would want to use these features with ease and without any issues. If they are unreliable and constantly requiring maintenance, you may struggle to attract and keep good tenants.
Low crime rate
It shouldn’t be a surprise that tenants are looking for safe neighbourhoods with low crime rates as people do not want to live in an area where they feel unsafe.
When you’ve taken all these factors into account and found the perfect investment property, speak to one of our expert brokers today to discuss the best options for you. You can book an obligation-free consult here, or by contacting us by phone (08) 9367 4222 or email [email protected]