1. Location
This is probably something you’ve
already heard countless times
– location, location, location.
Although most people have heard
this, it is quite surprising how little
attention is paid to it.
Of all the things you could
do to rent your property out fast,
this is probably the most difficult
to change. You cannot change the
location of your property. So, it is
very, very important you get this
right when you decide to invest.
Some important location-related
questions to ask before investing:
Does the property have
good connectivity vis-à-vis proper
roads, highways, rail links, and
bus routes? Is the property close
to important amenities like school,
hospital, banks, and commercial
centres?
Are there plenty of job
opportunities near your property?
The more jobs available or created
near your property, the more
demand there will be for housing.
Is the property close to a good
mall? Notice that shopping malls
like Midvalley Megamall, The
Curve, and One Utama have
played pivotal roles in influencing
the popularity of its surrounding
neighbourhood.
What is the current occupancy rate
in the neighbourhood like?
The above are what we call
demand drivers. If there are strong
demand drivers for a property,
it will probably fare well in the
rental market and appreciate
handsomely.
Ask these questions before
investing, and chances are you will
be renting out your property easily
and fast.
2. Treat Your Property Like A Business
If you are in the business of letting
I found a tenant for this
out properties, then you should be apartment a week later.
doing it like a proper business.
You will only be successful
Several years ago I had with your property’s occupancy
a client who was unable to rent rate when you have the correct
her property for over 6 months. mindset. That is when you treat
When I had a look at the property your property like a business you
I sensed why. The property was begin developing the framework
dusty and dirty. It had a musty, needed to lure tenants.
stale odour lingering inside. There
were cobwebs everywhere. It
I have a friend who has a
looked dreadful.
luxurious and large property for
rent in Mont Kiara. It is usually
I suggested that we clean up difficult to find a tenant for such
the whole apartment and stage it properties but he has no problems.
nicely. She was very reluctant so He treats his tenants like customers
I offered to do it at my own cost and part of his service includes:
(yes, I was full of zest then). I got
A bottle of very expensive wine
the apartment thoroughly cleaned delivered once or twice a year to
and washed, re-arranged some of
the tenant
the furniture, put on bedsheets, Taking his tenant out for lunch or
and used a good air-freshener.
dinner occasionally
Another client of mine goes
through a lot of effort to stage her
rental properties. When you view
any one of her properties, you will
fall in love with it. She even sets
out the dinnerware on the dining
table complete with cutlery and
wine glasses.
Her apartments always look
picture-perfect. Again, she has no
problem getting tenants fast. Her
property is usually only vacant for
a week between tenancies.
People who treat their
buy-to-let properties like a proper
business never seem to have
problems with finding tenants.
They calculate everything. Every
cost that can improve occupancy is
an investment to them. However,
they do not spend aimlessly. They
are prudent enough to balance
The
apartment
looked
He gets long-term tenants revenue and costs.
so nice even the owner was who are fiercely loyal. He also gets
impressed. She offered to change strong recommendations from his
the curtains.
previous tenants.
PROPERTY360DIGEST
30