Comments on: 11 Ideas to Increase Rents

By: Jason Staggers

Jason Staggers — Mon, 23 Mar 2015 00:56:17 +0000

Good point Chris. Wrote about that here: https://www.propertyinvesting.com/granny-flat/

By: Jason Staggers

Jason Staggers — Mon, 23 Mar 2015 00:54:48 +0000

Your property manager’s opinion is debatable. The pet clause issue is a legal grey area. While the residential tenancy acts in NSW and VIC in my opinion fail to offer reasonable protection for landlords on the pet issue, it is still in the power of the landlord to charge a premium rent to pet-owners.

By: ChrisMc@myflats.com.au

ChrisMc@myflats.com.au — Sat, 21 Mar 2015 18:48:00 +0000

You should make that 12 ways….. Install a separate granny flat in your backyard. In NSW you can rent to anyone under SEPP Affordable housing. A return of 10%-30% on the Granny Flat portion alone makes it worth while.

By: Megan

Megan — Thu, 19 Mar 2015 22:12:13 +0000

We spoke to our property manager about higher rent for allowing pets and she said that according to the rental board there is nothing stopping renters owning pets if they want them so its better just to allow the tentants to be honest with you about whether they have pets. The are responsible for leaving the house as they found it pets or no pets. If the pet does major damage to the property you have to prove it was malicious intent by the animal and how are you going to prove that?

By: Caroline Vass

Caroline Vass — Thu, 19 Mar 2015 03:40:19 +0000

Hi Jason
Great article I loved point 10 often pets are seen as not a good option your point makes it one worth considering

By: MilkTruck

MilkTruck — Wed, 18 Mar 2015 10:15:50 +0000

I certainly like #4. I think it can help tenants make it feel that it is their home and not simply another rental. The increased quality of the home makes it more desirable too and justifies the increased rent. If managed well it should see a much better transition between tenants by having less niggly maintenance to think about at that time. But hey, hopefully the tenants will be happy and you won’t have to think about re-letting as much anyway. MT

By: Jason Staggers

Jason Staggers — Mon, 16 Mar 2015 23:41:59 +0000

Thanks for that @Benny. Those that I’ve worked with who have converted their rental property to short-stay have been able to increase their income but their expenses have been higher. What is your net return on this property compared to when it had a traditional tenant?

By: Benny

Benny — Mon, 16 Mar 2015 01:57:44 +0000

Hi Jason,
Another really useful article there, my man !! Thanks.

In the realms of “increasing income in creative ways”, one of our properties just suited being changed from a straight family rental into a Holiday Rental. Though this requires more management and cleaning, etc, the rental amount earned per week is more than double what a family would pay for a home fulltime.

Other benefits are :-
1. Access to the place for us to enjoy when guests not present (often thru the week, as weekends are our usual prime time)
2. Easy to arrange tradies through the week when needed without disruption to guests/tenants.
3. Premium letting rates during School Hols, etc.
4. Rates can be tailored to suit situations – e.g. discount to attract guests when taking a short notice spot. Similarly, premium dates call for premium rates.
5. Furnishing was done on a Mastercard with “No Deposit, No Interest for xx months” deals. The higher rental return made this a positive way to go (no upfront $$ required).

Of course, the location needs to suit this style of rental – Our is in Springbrook (in World Heritage Listed Rainforest) so it draws many who enjoy an active, scenic, and/or peaceful holiday. Works for us.

Regards,
Benny