On this episode of Ask The Experts, Alka talks about the tips and strategies you need to get into rental investments and maximise on your rental properties.
KEY TAKEAWAYS

• You should get into rental properties because they offer a predictable monthly income – cash flow is the indicator of a good deal and good investment in your property.
• The income from the growth is in the property’s value. If you bought your property 10 years ago, it would have appreciated in value today. The income from rental is taxable, however, you can reduce the taxable income by deducting on your expenses, including cost of materials, marketing and advertising.
• Renovate and remodel the kitchen and upgrade on the appliances and utensils so it functions perfectly, which is a huge win for renters. Hardwood floors and granite counters are a must. Do the same with the bathroom, convert bathtubs or Jacuzzis into a walk-in shower which gives the illusion of space, especially in a small bathroom.
• Make regular visits to your property throughout the leasing period of your tenants to make sure that it’s being looked after and they’re taking care of your property, because it’s unlikely that they’ll look after it as well as you would.

BEST MOMENTS
‘Why buy when you can rent? A lot of millennials are moving out of their family homes and into condominiums or to rent. This is a perfect time to rent, but you need to make sure the property is maintained properly throughout.’
‘Location is everything. Do thorough research about the area and the neighbourhoods you’re moving into, as well as screening your tenants because you never know the history of people. It’s better to be safe than sorry.’
‘You need to have curb appeal. The exterior of the house is equally as important as the interior, keep the grass and shrubs trimmed, make sure the back yard is cleaned up and flowers planted, but that are easily maintained by the tenants.’
‘Repaint fixtures like skirting boards and window sills, make sure light switches aren’t cracked and the bulbs are bright.’
ABOUT THE HOST
Alka Sharma is a Real Estate Investor. She has a zest for life, helping her clients gain knowledge and insights into property investing. Alka takes her time to make sure her client’s needs are met.
Alka is an accomplished, professional ballroom dancer having competed both nationally & internationally.
Alka is grateful for all her experiences that have shaped her today as a successful Entrepreneur, Real Estate investor.
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