BUYING an investment property can be a very attractive proposition, offering many rewards.
There is the potential for regular rental income to fund retirement, support more investment or supplement your current income.
Tax strategies such as negative gearing may be of benefit and possible capital growth is appealing.
However, investment success is not guaranteed by simply buying a property and putting it on the market.
You need to ensure your property will appeal to tenants – does it have the features they like, is it in an area that is in demand, is it priced attractively?
Property managers have their finger on the pulse of the rental market.
They know what tenants want, what areas are popular, what types of property are in demand, what rent to charge to meet the market and how to minimise vacancies.
In this Property Investment feature, metropolitan and South-West property managers share their knowledge of their local markets to help guide your investment decisions.
For the latest local rental market data, see REIWA’s suburban snapshot in this edition of Residential West. n