How to identify a low-maintenance rental property
One of the key features any investor looks for before buying Surfers Paradise property is how low maintenance it is going to be. After all, unless you have plenty of spare time to be managing repairs and dealing with tenant complaints, this is generally the easiest way forward.
Whenever you're viewing potential rentals in Surfers Paradise, there are some key feature you'll need to keep an eye out for. These will help you decide whether it's the right property for you, or if it's likely to start costing you money in the long run.
Does the property come with a lot of outdoor space? Gardens, swimming pools and other features can all take their toll on your maintenance budget, so if you're in search of something that needs very little input, then perhaps consider an apartment or something similar.
Gardens can easily start to look messy over time, especially if your tenants aren't particularly green-fingered. However, it might be a major selling point to families, so think carefully about who your target market is going to be.
The type of flooring throughout the property could also give an indication of how easy it will be to keep in top condition. Tiles are generally hard wearing and resilient to wear and tear, whereas linoleum will soon start to look rough around the edges.
This can often be said for carpets. If they seem like they might need replacing in the near future, then this might be something you want to do before your tenants move in. It's unlikely they will want to go through the hassle of having their flooring replaced shortly after moving in, so taking the initiative early on could be crucial.
When you inspect your rental property, there's every chance there could be some repairs that need to be made. With any luck, these will only be cosmetic – but there might be other times when some more serious intervention is needed.
If there's a risk that fixtures and fittings might start to perform less than impressively, then make sure you deal with them before your tenants arrive. In the event you do notice anything more major, ask yourself whether it's worth the upfront investment. If it isn't, then this Surfers Paradise rental may not be the best choice for you.
Ask the owners
There might be an opportunity for you to speak to the property's current owners. If there is, you should use this as a chance to raise any concerns you may have about the real estate and get an honest opinion of what you can expect in terms of maintenance.
Of course, you can always employ someone to carry out a thorough inspection on your behalf. Bear in mind that the owners will be keen to sell, so they might not be entirely upfront about the little niggles they've experienced over the years!
Enlist a trustworthy real estate agent
One of the easiest ways to make sure all your criteria is met when choosing Surfers Paradise property is to have a real estate agent on your side. If you specify that you want a low maintenance rental, then they'll do everything possible to make sure this happens.
Their vast expertise also makes them perfectly placed for dealing with any questions you might have. If you're serious about making a success of your investment, then it's worthwhile having a list of queries you'd like to be answered before going ahead with the purchase.
Speak to the team at Ray White Surfers Paradise to make sure your investment ambitions get off on the right foot the first time.