Introduction:
Welcome to our latest episode where we dive deep into the world of rental properties with Jeremy Bishop, the General Manager of OpenCorp Property Management. Join us as we explore crucial aspects of the rental market, including the often-discussed topic of rental yield, how to calculate it, and it's significance for investors.
Show Highlights:
- Introduction to Jeremy Bishop: First-time guest Jeremy Bishop shares his insights on the rental market and the concept of rental yield.
- What is Rental Yield? Jeremy explains rental yield, its importance, and a simple formula to calculate it.
- Why Rental Yield Matters: Discussion on why investors are keenly interested in rental yield and how it aids in comparing investment opportunities.
- Tax Benefits and Investment Strategy: Insights into how tax benefits can influence investment returns and strategies.
- Tenant Appeal and Property Features: What tenants are currently looking for in rental properties, with a focus on the Perth market.
- Investing in Value-Adding Features: The importance of air conditioning, solar panels, and other features that increase tenant appeal and rental income.
- Advice for Landlords: Top three tips for landlords to maximise rental appeal and achieve better rent.
- The Role of a Property Manager: The critical importance of having an expert Property Manager in your investment team.
- Closing Thoughts and Rent Increase Strategies: Jeremy and the host discuss strategies for rent increases in a tight market.
Key Takeaways:
- Rental yield is a critical metric for assessing the financial performance of rental properties.
- Investors should consider all cash flows, including tax benefits, to understand the true cost and returns of their investments.
- Presenting properties well and investing in features that appeal to tenants can significantly impact rental income and tenant retention.
- Expert property management is essential for navigating legal compliance, tenant selection, and maximizing investment returns.
Thank You to Our Guest:
A big thank you to Jeremy Bishop for sharing his expertise and insights on the rental property market. His advice is invaluable for anyone looking to invest in rental properties or improve their current investment strategy.