How to Make Your Investment More Profitable
Investing in real estate is a significant commitment. To maximise long-term value and protect your asset in Western Australia, follow these ten practical steps used by professional property managers, a comprehensive guide on How to Make Your Investment More Profitable
1) Choose the Right Property
Selecting the right asset is step one. Research local demand, amenities, transport links and future growth drivers before purchasing. Target suburbs with balanced owner-occupier and renter appeal.
2) Screen Your Tenants Properly
Reliable tenants protect your property and cashflow. Use full applications, verify income and employment, check references, and leverage tenancy checks via licensed managers to reduce default and damage risk.
3) Maintain Adequate Insurance Coverage
Comprehensive landlord insurance should cover building, liability and rent loss (e.g., tenant default or insured events). Review annually to ensure cover matches current risk and rent levels.
4) Stay Compliant with Legal Requirements
Follow WA tenancy legislation and building/safety standards. Use compliant agreements and keep signed copies of condition reports, notices and key communications to avoid costly disputes.
5) Conduct Regular Property Inspections
Planned, lawful inspections with clear notice help you catch small issues early. Photograph and document findings to track changes and support end-of-lease claims if needed.
6) Implement a Preventative Maintenance Plan
Service critical systems (plumbing, electrical, HVAC) and fix minor defects promptly. Preventative maintenance reduces emergency call-outs and protects asset value.
7) Utilise Professional Property Management
An experienced local manager streamlines rent collection, repairs, renewals and risk management—freeing you to focus on strategy rather than daily issues.
8) Ensure Financial Preparedness
Maintain a contingency fund for urgent repairs and vacancy. Review mortgage structure, insurance excesses and cash buffers annually to stay resilient.
9) Monitor Market Trends and Adjust
Markets move. Reassess rent levels, lease terms and value-add opportunities. Consider refinancing, small renovations or amenities that lift rent and retention.
10) Build Strong Relationships with Tenants
Clear, courteous communication and prompt responses reduce turnover and disputes. Long tenancies lower costs and stabilise cashflow.
Conclusion
A profitable investment is built on smart selection, rigorous screening, legal compliance, proactive maintenance and strong tenant relationships. Put these systems in place and you’ll safeguard value while lifting returns.
Contact Mandurah City Real Estate
Phone: 0457 545 214 | Email: hello@mandurahcre.com.au
Office: 5 Tindale Road, Mandurah, WA, 6210
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