Buying for investment? 3 contract conditions that will save you money
As positive news of investors re-entering the market filters through from sales agents, conveyancing firms and mortgage brokers we look to be turning a corner. A new government is in place so fingers crossed the uncertainty of the past few months can be set aside. With this news we thought that these handy tips for investors would be apt. Our aim as Brisbane property management specialists is to minimise your vacancy periods and maximise your rent. My suggestion would be that you make these conditions of purchase when you have found a suitable investment property:
- allow viewings by prospective tenants once the sale is unconditional (to assist in minimising downtime whilst marketing the property for let, thus maximising returns);
- supply the professional photography used to market the property for sale (for the very same reasons listed above);
- have the property cleaned to a prescribed standard upon settlement (again, in a bid to offset those pre-letting costs, which could be hundreds of dollars the investor had not calculated).
Another handy tool available to owners is to take advantage of the expertise of your Brisbane property manager. More often than not the sales agent you are buying from will be “enthusiastic” about achievable rent levels for the property. If there are already tenants in place your property manager can check if it’s under-rented. Likewise if it’s owner occupied we can advise on what has rented in the area recently and the type of tenants the property is likely to attract.
We’d love to work for you as that Brisbane property manager! If you’re looking for a rental appraisal or more info on these ideas please contact our New Business Manager on 07 32146899 or email firstname.lastname@example.org