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Our Top 5 Tips to Investor Success

By Tash Johns

1. Research and know your local rental market. This can be as simple as just getting online with any rental listing website and investing time to compare weekly rental prices.

2. When your property becomes vacant take the time to undertake a complete investment audit.

  • Access the realistic market rent achievable
  • Review and action necessary maintenance, appliance upgrades or renovations that are necessary and most importantly, understand the importance of effectively advertising the property with quality photos, floor plans, video or virtual tours… as more and more rental ads are standing out to the prospective tenant with these features.

3. Take the time to think about how your investment stands out in comparison to other properties on the market and why a tenant would choose to rent your property?

4. Protect yourself with landlord property insurance to cover you for the unexpected of rent loss and property damage.

5. Have a financial strategic plan to always be one step ahead.

  • What happens if there is an unexpected repair? Can you afford it?
  • What happens if there is an extended vacancy period resulting in lost rent? Can you afford to meet the mortgage?
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