SkyFive Properties Blog

When it comes to buying a house, you need to know what you want. And sure, that can sound incredibly obvious at the start, but it’s something that can often go right out the window when it comes to actually buying somewhere. Because you can get overwhelmed. The property buying process can be intense. And when you don’t immediately find somewhere that you like, your standards can start to slip. Or worse, you may find that somewhere that is not right for you at all catches your eye and starts to appeal to you. Whether we’re talking about your family home, a vacation home, or even a business opportunity, you need to make sure that you keep focused. And this is where a checklist can come in.

Whenever you’re looking to buy a property, you should make sure that you come up with a checklist. Whether you realize it or not, you need to really narrow down on what you want. And this can be hard. But it’s the only real way that you will actually find somewhere suitable. As you look for homes for sale, it’s easy to get tired of the search and to just opt for somewhere because it will do. But when you have a list that lists your priorities, there’s no way you’ll get overwhelmed and end up with the wrong place. So here’s how to set out your priorities.

1. Think About The Basics

So first of all, you’re going to want to get down the basics. And this is the easy part. Because everyone will have those key basics that need to be covered off. So things like the area, the number of bedrooms and bathrooms, the overall square footage. A lot of these things will be just what you need, and what you need to look out for as a minimum. These will form the base of your search.

2. Have Non-Negotiables

Okay, to build on that, you’re going to have the things that you personally see as absolutely essential. Sometimes, that will cover off everything in the section before. But sometimes, it’s only a few of those things, and then there are other things that matter to you and your lifestyle. Maybe you absolutely have to have a studio or a pool? Then write it down.

3. Work In The Pluses

Then, you’re going to want to think about the things that would be a plus. And these could be things that you’d like to have, but that wouldn’t be a deal-breaker like the non-negotiables in the previous section. Even put these on a separate list if you think that will work out best.

4. Order By Importance

So next, you need to get your list in order. And this can be quite tough when you’re buying with a partner or for your family. Because you need to consider a range of perspectives with your home buying priorities. But, you need to make sure that you order things so that you have an easy list to refer to.

5. Search By Basics Alone

Then, when it comes to actually looking for properties, to make sure that your list is useful, you need to make sure that you search by the basics as a minimum. Don’t even look at properties without this filter in place, as you could easily get disheartened. But by shopping by the basics, you will then be able to filter by everything else.

6. Be Flexible

Then, when it comes to actually looking for properties, to make sure that your list is useful, you need to make sure that you search by the basics as a minimum. Don’t even look at properties without this filter in place, as you could easily get disheartened. But by shopping by the basics, you will then be able to filter by everything else.

7. But Be Firm

Okay, so while it’s definitely important to be flexible if you ever want to find somewhere appropriate, don’t be so flexible that you still end up in the wrong place. This can be so important when you’re looking for your dream house. You definitely want to make sure that you find somewhere that’s pretty much perfect. So you have to be firm. Even if it means that you have to wait a little longer to find the right place. If you can firmly stick to your list as much as possible, it will pay off.

There are some who fantasize about a house in the country. Others dream of a modest home in the suburbs. But for some this small town quiet life would be like living with the snooze button taped down. There are some who thrive in urban environments. Who will start to worry for their sanity if they’re not within easy access to a gallery, independent movie theatre or at least an artisanal coffee outlet and bakery.

Perhaps you’re a singleton who’s about to make the leap from shared accommodation to a place of your own. Or maybe you’ve just gotten out of a relationship and spent the last few years creating a shared sense of style with your partner. You’ve not quite arrived at a sense of style of your very own yet and you’re looking for a way to decorate your prospective new bachelor (or bachelorette) pad.

You want a look that marks you out as the urban sophisticate you are while still affording you those soft touches that make a place a home rather than a gallery. Whether your budget will stretch to something luxurious like Meriton’s Sydney Apartments, a prestigious lakefront home or if you’ll have to make do with a small studio flat, you can absolutely have a cool and stylish place to call your own. Here are some essentials that make up the anatomy of the perfect bachelor pad…

Wall to ceiling windows

Even a modestly sized home can look enormous when flooded with natural light and there’s no better way to achieve this than by opting for an apartment with floor to ceiling windows. Not only do they flood the space with natural light they create an illusion of more space to make the apartment look even more impressive and spacious.

A pristine bathroom

Whether you’re looking to impress friends or wow a date, it takes more than a comfy sofa and a big TV to create an impressive pad. You can tell a lot about a person by the state of their bathroom and if you’re to make an impression on people it’s essential that yours is pristine. That means your bath and toilet are scrubbed after every use. It means your bathroom mirror is polished and kept free of flecks of soap or toothpaste and it means that you have (and this is very important) matching towels!

Statement art pieces

When it comes to interior decor the “less is more” maxim is particularly apt for the apartments of singletons. Clutter is not only a visual distraction but it can make a small space seem smaller, less clean and less tidy. Not to mention the unexpected drain it can place on your mental health. Thus, your decor should be as spartan as possible while still making a statement. Choose one or a maximum of two statement art pieces per room. Choose something that speaks to you. Good art should be something that intrigues you and which you should never tire of looking at it. If your reaction to it is “Hmmm…. Maybe” it doesn’t deserve a space on your wall. Check out this great piece on choosing wall art.

Embrace the power of plants

So many people overlook the importance of houseplants. They’re easy to look after and if you choose the right ones for your space can provide months or even years of visual cheer, color and, yes, companionship. As with art, you mustn’t buy plants arbitrarily and you can say a lot about your personality through your choice of houseplant. A bonsai for example can indicate a thoughtful and meticulous nature. Since they’re quite tough to care for it can also demonstrate perfectionism and dedication. A ficus says you’re conservative by nature and avoid risks but are not without a sense of fun. Begonias, however, are the hallmark of a hopeless romantic.

Smart storage solutions

A big part of creating a minimalist aesthetic is making sure that you have a place for everything and everything in its place. That means your storage solutions need to be on point. A kitchen cluttered with hanging utensils, shelves bursting with DVDs and video games or (worse still) a floor littered with laundry will not only make your living space feel pokey, they’ll send dates running for the hills. Invest in some smart storage solutions under your bed, in your wardrobe or within your sofa. You’ll enjoy a flawlessly neat and tidy home while also living the clutter free life.

There’s a whole lot more to a perfect bachelor pad than just a big TV and a comfy sofa!

You’ve been dreaming of a lake house since you bought your current house. And now, you’re finally getting the chance to get the waterfront property of your dreams. A waterfront home is more than just a peaceful atmosphere – it’s a highly rewarding investment.

That said, buying a lakefront home isn’t as easy as finding a shoreline and signing on the dotted line. Here are 10 tips to help you find the right house for you.

1. Ask Yourself Why You’re Buying

Fun fact: the first step towards dipping your toes in the lakefront homes market isn’t actually shopping for a house. It’s asking yourself why you’re buying the property in the first place. Remember that if you’re buying the property to live in full-time, you’ll have to familiarize yourself with the responsibilities of a waterfront property owner. For example, you’ll need to find out about what upkeep and maintenance will be required.

If you’re buying it for vacations, you’ll need to figure out what you’re doing with the property for the rest of the year.

2. Find an Agent Who’s a Waterfront Specialist

Once you’ve got your priorities in order, find a real estate agent who’s a specialist in waterfront properties. The truth is, your average real estate agent simply won’t have the expertise required to help you get the best deal on a property.

Because of this (especially if you’re new to lakefront properties yourself), you need a real estate agent who knows the intricacies of waterfront homes. For example, a house that seems like a great deal might be a steal because there are oyster beds that make it impossible to get a boat out.

3. Figure Out Financing Early

You also need to figure out your financing early in the game. Most waterfront homes are more expensive than their otherwise identical, landlocked counterparts. For this reason, many lenders put lake and beachfront houses into a special lending category.

This is important for you to keep in mind because it can take longer to underwrite the loan than it might otherwise. If you don’t plan ahead, this could jeopardize your whole deal and cost you the perfect house.

4. Choose the Right Water

Not all waterfronts are created equal. For example, salt versus freshwater. If you love the smell of salty air, there’s no replacement for a beachfront property. On the other hand, if you love water sports, a large lake is the best setting for power boats, tubing, and other such fun times.

But if all you want is a view of the water and some peace and quiet (and a bit of privacy, to boot), stick to a smaller body of water that won’t have any boats, or you’ll be driven up the walls by all the noise in the summertime.

5. Research the Shoreline

While you’re investigating what type of water is right for you, spend some time researching your potential shoreline. Or rather spend some time researching its history and making educated guesses about its future. When water and dirt mix, they turn into a lot of interesting things (besides just mud, of course). This isn’t just fun and games for your young kids who have a talent for finding the biggest mud puddle in a mile radius – over time, the shoreline can actually move.

That’s important because if the water level rises and the shoreline moves too much in the wrong direction, you could end up losing your property altogether.

6. Inspect Early and Thoroughly

You may be getting the idea of what’s high on your priority list: inspecting the property. Inspect it early and inspect it thoroughly. Water might be lovely to see when you wake up in the morning to the sunrise, but nothing else wears out a building so thoroughly.

You might, for example, deal with water in the basement due to a high water table. Mold and mildew love the moisture that inevitably accumulates in waterfront properties, and salty air corrodes the outside of your home. This is why an expert inspection is vital. It helps you figure out exactly what you’re up against.

7. Watch Out for Any Hidden Costs

On that note, your inspection should get you in the right mindset for our next point: watch out for any hidden costs. Fun fact: waterfront properties come with a lot of them. For example, water and sewer rates. You might not think twice about them when you’re house hunting, but they often cost more in waterfront homes than landlocked homes.

If there’s a boat dock, you’ll be facing upkeep costs. Septic tank and well upkeep will also be pricier than your typical landlocked property.

8. Choose a Property That Fits Your Lifestyle

There’s a difference between a beautiful property and the property that’s right for you. For example, if the property is gorgeous but it’s an hour away from the ocean and what you really want is to step from your porch to the beach in no time, that property probably isn’t going to make you happy in the long run.

On the other hand, what you want the water for will change how often you actually use it. A deep-sea fisher, for example, will use the water and a boat more often than someone who likes sitting on their porch or stepping outside for a swim now and then.

9. Build a Strategy for the Property

Finally, if you want to buy a lakefront home, you should make sure to have a strategy for your property. This will depend primarily on what you want to use it for. If you want to live in the house full time, then you’ll be looking for a property you’ll be happy to spend all your time.

If, on the other hand, you’re primarily looking for a vacation home, you should investigate the renting potential of a would-be property.

Buying a Lakefront Home Made Easy

With all of that in mind, are you ready to start the process of buying a lakefront home? We’re here to help you do it.

If you’ve considered all you need to consider and you’re ready to dive in headfirst, take a look at our available properties!

When it comes to the usual run of things, people tend to start out their adult lives in major cities and then retire to the country once their careers have drawn to a close. This makes sense. After all, major cities hold a whole lot of career opportunities for professionals, as they tend to be where most industries are based and where there are more clients, partners, and professionals. Young adults also tend to thrive in the hustle and bustle of inner city life, making the most of all of the amenities and entertainment at hand. No matter what time of day or night it is, the city generally offers something to see or do. Country life also tends to cater better to the needs of your standard retired individual. After years in a major city, it can be refreshing to leave the big smoke behind and settle down in a larger and more comfortable house in a quieter location. However, it’s important to remember that we don’t always have to live life on a binary. You don’t necessarily have to choose purely urban or purely rural living. Sometimes you can strike a balance between the two and experience the best of both worlds. Here’s how!

Finding the Right Location and Community

Believe it or not, there are places to live out there that can provide you with the preferable environment of rural locations with the community spirit and amenities of a major city. Take Broadstone Montane Apartments. These apartments are located in a bold community for the lively and spirited. The area is host to city-quality coffee shops with handcrafted drinks, is close to shopping centers, art exhibitions, and various entertainment outlets. However, you can also make the most of a 1.5 mile, on-site mountain bike and hiking trail to the Cherry Creek State Park. You can also have panoramic views of Mount Evans, Pikes Peak, and the Rocky Mountain Front Range. This area just goes to show that you can have it all.

Being Open

When you’re looking for a completely urban or utterly rural property, you tend to have a whole lot of choice on your plate. Why? Well, there are plenty of homes out there that will cater directly to your checklist. However, when you want a combination of both, it’s a good idea to be a little more open with your thinking. After all, you’re going for a more niche mode of living, and you may not find something that is precisely how you’d imagined. Give places a chance and visit before entirely casting them off your list of potential new homes. You may be surprised when you get there!

As you can see, striking the right balance between urban and rural living may take a little longer to achieve, but it’s more than worth the time and effort involved. So, start looking today!

Buying and selling stocks is the best known form of investing but it isn’t always the best. There are quite a lot of risks involved in playing the stock market and you need a chunk of cash if you want to see a good return. But you shouldn’t give up on investing just yet, there are some great alternatives that are less risky and don’t require as much upfront initial investment. CFDs or contracts for difference are much better for somebody that wants to invest small amounts with fewer risks.

When you invest in contracts for difference, you don’t actually buy the stock itself. Instead, you’re betting on whether the market will go up or down. So why exactly is that better? These are just some of the reasons why you should consider investing in CFDs.

They’re Cheaper

When you buy a stock, you have to pay the value of that stock in its entirety. But when you’re investing in CFDs, it’s a different story. You can make an investment with a small fraction of the original value of the stock, meaning that it’s a lot easier for people that only have a small amount of money to get involved. The cheap initial investment also makes it a lot easier for you to spread your investments out which is the key to sensible and safe investing.

A Huge Range Of Markets

One of the other major benefits of trading CFDs is that you can get involved in so many different markets all in one place. When you’re trading on the CMC Markets you can invest in over 10,000 different things, all in one place. Again, having that choice allows you to spread your money out as much as possible and reduce your risks.

Trade Out Of Hours

Stocks can only be traded when the markets are open but you can trade your CFDs at any time. This is a major benefit because you can react to company announcements there and then, instead of having to wait until the market opens. This gives you a lot more security because you can get out of a bad trade right away before you lose too much money.

No Stamp Duty

Whenever you buy a stock, you have to pay stamp duty of 0.5 percent on the transaction. But the rules for CFDs are different. Because you don’t actually own the stock that you’re betting on, you aren’t eligible for the stamp duty. That means you’ll get to keep more of the money that you make.

Shorting Stocks

If you own a stock and the value goes down, you’re obviously losing money. You can only make a profit when the value of the stock increases. But with CFDs, you can short a stock which means betting that the value of the stock will decrease. This essentially doubles your investment options and gives you more freedom.

CFDs are one of the best investment opportunities out there right now and you should definitely put your money into them.

If you have been thinking about getting your feet on the property ladder, but want to make sure that you are getting it right and don’t overstretch your budget, it is important that you do your research. While the interior of the home and the size will matter, you shouldn’t forget about the location, either. Below you will find a few tips on choosing the right location for your first property.

Community

It is crucial that you check out the location and visit the community. Whether you are a churchgoer or would like your kids to have a place to play safely, it is recommended that you do your homework. Once you have a location in mind, you should walk the streets on a weekday and during the weekend, as well as at night. Every neighbourhood looks different when people are at work, so you should take your time to do the legwork.

Amenities

Convenience is also important, especially if you are a busy professional. You will have to make sure that you can do your shopping and pick up milk and bread without driving ten miles out. Further, if you have kids, you will want to check out the community centres and schools, so you can choose the location that is in the catchment area of good education.

Road Networks

If you work in the city, but would like a quiet life, you will have to find the right balance between country and urban living. Start by exploring the road networks and public transport, so you can calculate how much time it will take you in the morning to get to work and drop the kids off to school. Drive the route in peak traffic, so you can see exactly how much time you will need to get to work. Google Maps is not always reliable.

Current  and Future Developments

It is also crucial that you find out about the pending planning applications and local government initiatives. If you are moving into an area that has an aging population, chances are that there will be little or no life and you will have to visit the city to go out. If there is a pending application for an industrial or shopping facility, the value of your home might go up or down accordingly.

Market Trends

If you are looking to find a good deal on first home buyers house and land packages, make sure that you study the market trends. If there are a lot of young professionals moving into the area, chances are that there will be a growing demand for properties. In case there is a company expanding nearby, a number of people will invest in rental properties, and this can drive the prices up.

If you would like to choose the location of your first home right, you must do your research. Check the community links, the facilities and amenities, and research the market trends. Get in touch with property investment experts who can give you an insight into the area.

If you want to sell your property, you do not want it to be on the market for months. Now you have made up your mind that it is time to move on you want to find a buyer quickly, so what should you be doing to achieve that?

First Impressions Count

When a potential buyer sees the front of your property that is the first impression they have. You should be ensuring that the outside has curb appeal, or they may not bother to knock on your front door.

Start with the house itself. The windows and doors should all be in good condition, with their furniture polished and clean. Repair any defects with the roof and guttering, as problems with these can be something that puts people off. While doing all this, do not forget that the garage door might need some work as well.

If you have a porch, tidy it and make sure it is clean. Remember all of this is seen before you even open your front door. Next, move onto the garden. Mow the lawns and weed the flowerbeds, not forgetting to prune any shrubs that need cutting back. If you have off-road parking, the drive should be in good condition.

Making your home look as appealing as possible from the outside is a good start to attracting prospective buyers.

The Inside Matters Too

A makeover of your kitchen and bathroom is always a good idea, as it is said those are the two rooms that sell a house to most women. Improving your home is a brilliant way of getting a better price, but not if you have bodged jobs that look unprofessional.

Often, decluttering the room and some decorating will be enough to make them look as good as new. This applies to every room of your home. Installing a new bathroom suite is excellent, as long as it is done correctly. New windows, a conservatory or a pergola, can all add value to your home, but they must not look like DIY projects, even if they have been.

If your floors need attention, now is the time to do it. Hardwood floors will benefit from refinishing, while old tatty carpets should be ripped up and thrown away. Making use of nooks and crannies can make your home appear a bit larger than it is. A small shelf with a plant on in an unused corner can be very useful.

Walls and ceilings should be neutral colors. Although these might not be to your taste, they are better for viewers than bright or dark colors. Any broken glass, even an internal mirror, should be replaced along with anything else that is defective.

Make your attic into a usable space. This concept is a cheap way of adding an extra room that could be used for anything the new buyer wants. Clean and tidy the whole interior, as nothing is more off-putting than dirt.

Use Social Media

If you are on Facebook, Twitter, Instagram or any of the other social media platforms, post photos of your house and the fact it is for sale. These days, social media is for more than just connecting with family and friends. You will find real estate pages where people just like you are showing off their homes.

You can target specific audiences as well, the ones that are looking for a new home. You never know, the perfect buyer might just be looking at social media the day you post your home. With literally billions of people logging into the various social media platforms every day, you have the potential for more people to see your home than any other way.

Try A Quick Sale Company

The situation can arise where you need to sell your house quickly, perhaps in a matter of days. This is not impossible if you think about selling a house to a company such as who will make you an immediate cash offer and put the money in your bank in a very short time compared to the traditional selling methods. Typically, you can expect to get a slightly lower price for your home, but if you need a rapid sale, this is an option well worth considering.

Try Different Realtors

You should get opinions as to the value of your home from several different realtors. Do not think the one that puts the highest value is necessarily the best. If your home is overpriced, it will never sell, and sometimes realtors that are being more realistic are the better option. Pricing your home to sell is vital if you do not want it still sitting with it’s for sale sign in many months time.

Look at the realtor track record, which you can easily do by looking at their website. How many people are trusting them to sell their homes? How many sold signs do they have? A site with lots of properties for sale usually denotes an active and good realtor, and you should look at them all carefully before deciding which one to use.

Take a ride around the area you live and see what for sale signs there are. See which realtors seem to be most active in your area, as it is not always the most local.

Do Whatever You Can

If you have made your house as presentable as possible, both inside and out, now you need to do whatever you can towards the selling process. Always welcome people into your home, and if they make remarks about it that you do not like, do not get aggressive or nasty with them. Remember, that everyone has different tastes and when you move into your new home there will no doubt be things you will change to suit you.

If they want to talk about the price, do not be afraid to negotiate with them. Sometimes, it is quicker and easier to come to a deal yourself, and let the realtor know afterward what has been agreed.

Curb appeal can play a vital part in the value of your home. A property that looks impressive from the outside creates a better first impression on buyers. Here are some tricks for improving your home’s curb appeal and value.

Tidy your front lawn/driveway

If you’ve got a front lawn or driveway, keeping this area tidy could be the easiest way to maintain your home’s curb appeal.

Your lawn shouldn’t look overgrown or patchy – running over it with a lawnmower or adding sprinklers could help to make it look lush and green. Alternatively, you can always switch out your turf for artificial grass. Many buyers actually prefer artificial grass as it is easy to maintain.

When it comes to tidying a driveway, you should make sure that there are no weeds growing out of it and that it is clean. The easiest way to clean a driveway is with a pressure washer. If you have a gravel driveway, you make want to rake it to keep the stones even. Driveways with cracks or missing slabs may require hiring a driveway maintenance company such as Estates Paving.

Fix up your roof

If your roofing tiles are broken or discolored, investing in a new roof could be one of the most effective ways to add curb appeal. There are lots of different roofing options to consider from shingles to tiles. Not all roofs will need repairing and some may simply need cleaning up – getting your roof cleaned could be much cheaper that fitting an entire new roof. It’s worth talking to an expert to see what they recommend.

Fix up your siding

You may also be able to improve your home’s value by repairing or repainting the siding. Professional companies such as John McCarter Construction can help to repair or repaint your siding. Some homes don’t have siding and have bare brickwork or cladding – it could still be worth cleaning this brickwork or cladding if it looks dirty or discolored. When choosing a colour scheme for the exterior of your home, try to keep things fairly neutral as wild colours could put off some buyers and negatively affect the value of your home.

Add exterior lighting

You can also improve your home’s curb appeal by adding exterior lighting, helping to keep your home illuminated at night. Motion sensing lighting as supplied by MAXSA Innovations can be a good option as it will only turn on when people are outside, which will be cheaper on your electricity bill than a permanent light. There are all different types of strength lighting to consider from mood lighting to floodlights.

Plant some flowers

Flowers can help to cheer up the entrance of you home and add value. You could plant these in hanging baskets either side of your front door. Alternatively, you could add flower boxes on your window sills. You could even consider creeper plants and flower beds if you’ve got a passion for gardening.

Buy-to-let investments are for those willing to play the long game. Whether you want to potentially see returns much greater than the amount you invested in the future or you’re looking to build an income stream, it can potentially be a great wealth builder. However, you’re at risk of getting caught up in the market, earning just enough to pay off the house if even that. Here, we’re going to look at how you make the most of your investment and increase your rental yield, so you can ensure your buy-to-let property remains a money maker.

From new kitchen worktops and bathroom remodels to new flooring, new plumbing, and new doors there is so much that you can do. Physical upgrade possibilities are countless.  However, there are many other ways to increase you rental yields.  Hopefully, we have covered these possibilites with a great deal of depth over the course of this article.  If you follow through on these ideas, you are sure to have a winning property in the long run.

Reduce vacancy as much as possible

Naturally, the biggest risk to your property’s profit potential is having no-one in the house at all. While the property is vacant, you still have to pay the rent, utilities, and maintenance costs the come with it. The longer it stays vacant, the more likely it is to start becoming a financial loss. Working with a property management company, like mentioned at Listen Money Matters, could take a great deal of the strain off you, the property owner. Instead, you can partner up with a business whose mission it is would be to connect you with the rental market.

Know your market and market to it

Of course, the more you know about the market you’re trying to market to, the better. With vacation homes, you’re attempting to reach those making short-term, high-cost rentals at certain times of the year. With apartments, you’re often trying to market to young professionals or those in education who need close access to retail or college areas in a town or city. For larger, multi-room properties, you’re more likely to be renting it out to young families. By knowing your market, you can focus on particular aspects of the property first and foremost to make it more attractive. You can also change where you choose to market it, based on who you are trying to make the property most visible to.

Up your curb appeal

Unless it’s an apartment, you are also going to want to maximize the visual impact of the property on first viewing. Not only does adding a little curb appeal help your rental property grab a lot more attention when it’s vacant, but it can also justify increasing its price in comparison with other similar but less visually impressive properties. If it looks better, tenants are willing to pay a little more for it. DIY Network looks at a variety of ways you can up the curb appeal, from hiring a landscape gardener to simply giving the exterior of the house a new coat of paint and fixing up any of the little blemishes that might be giving viewers the wrong impression.

Claim tax deductibles

Moving on from the ways that you can decrease vacancies and increase interest in the property, now we’re moving onto how you raise the value of your tenants and seriously increase the money you make from the property. First of all, there are several tax deductions available to landlords that could help eat up some of the costs you deal with on an annual basis. Many landlords don’t even consider the possibility of claiming any tax deductions. As Nolo shows, however, you can get deductions for mortgage interest payments on the property, depreciation of real estate, the costs of repairs, travel you have to do in order to visit and look after the property, and more. Hiring an accountant to look at your year-end tax forms could help you see how many deductions you can safely make.

Raise rent strategically

Inflation affects everything in the market, and landlords should never forget that. Raising the rent from time to time, at least when during the lease renewal period, should be done as a necessity You have to make sure that you don’t fall behind the rising costs of maintenance, utilities, and any services you use to market or manage the property. If the demand for rental property is high in your area, you may be able to get away with raising the rent a little more often, too. Just make sure that you know how much notice you have to give tenants based on state law.

Maintain it yourself

Hands-off landlords are willing to eat the costs on regular maintenance and repairs of all kinds. However, if you consider yourself something of a handy person, could you save money by making more of the minor repairs yourself? Balance SMB shows some of the most regular maintenance tasks a landlord will have to deal with. Some of them, like exterminations, require a professional but there are several tasks that you might be able to carry out yourself.

You can also offer extra maintenance and services at an extra fee for your tenants. For instance, some landlords offer to clean the property or take care of the garden on a semi-regular basis. This allows them not only to raise their profits off the property, it also ensures that the property is being well-cared for.   The importance of efficeint maintenance can not be overstated.  For an empty house, you still have to pay the rent, utilities, fees for the empty property security, and maintenance costs that come with it.

Stay in the modern market

The older the property is and the more it shows its age, the less likely you are to get great rental yields from it. More modern house layouts, kitchen materials, and bathroom designs are able to pump up the amount that the tenant is willing to pay. Teams like Schemel – Tarrillion, Inc. could help modernize your home with renovations. Rental renovation companies specialize on getting the work done in occupied properties, as well, so you don’t have to worry about waiting until your next period of vacancy to invest in its profit potential a little.

Keep it furnished

Depending on what kind of market you’re renting to, you could see both more interest from tenants and increase the amount they’re willing to pay for it by furnishing it yourself. For some rentals, like luxury rentals or family home rentals, tenants may be more willing to furnish it themselves. However, for apartments and shared homes, having it furnished is a big selling point. What’s more, some landlords even choose to lease kitchen electronics like fridges, freezers, microwaves to tenants for an added fee paid on top of the rent. Just make sure that your stylistic choices aren’t so personalized that they risk scaring off potential tenants.

Add some space

The most direct way to add value to a home, whether it’s increasing its market value or getting more rental yield, is to add more livable space. If you can add an entire bedroom, you can increase the rent by a significant fraction, but even a conservatory or an added laundry room can be worth the investment. As The Spruce shows, there are plenty of different ways to add room to a house. You can build it on directly or you can renovate and finish existing spaces, such as the garage, basement, or loft. Naturally, you have to make sure that you have all the necessary planning permissions before you plan to make large-scale changes to the property of any kind, so don’t leap before you figure out what is required.

Offer peace of mind

There are other little additions you can make to the property that can act as extra selling points and help you increase the rent just a little. One feature is that of security. There are plenty of security systems you can install, from CCTV to alarm systems, that tenants are willing to pay for in order to ensure their peace of mind and feeling of safety in the home. Not only can this increase your rental yield, but it’s simply a smart investment in your property. You’re a lot less likely to have any damage done to the property while you have more security features acting as a deterrent to any criminal elements.

Appeal to their lifestyles

There are also lots of little smaller potential investments you can make. Not all of these will increase the amount of rent you can ask for that much, but they do make the home a little more marketable to certain kinds of tenants. The biggest one is renting to tenants with pets. This can mean biting the bullet and opening yourself up to the risk of more repairs in the future, but there are lots of tenants who have trouble finding accommodation that allows them to bring their furry friends with them, so it can be one way of fighting the problem of long periods of vacancy. Adding a coffee machine, providing cable TV, or installing high-speed internet in the home are other little lifestyle bonuses that can help your property stay competitive, too.

These are most of the most common strategies when it comes to increasing rental yield. If you can’t implement them, you will have trouble making real money from your property. Remember, when buying rental property, make sure you’re buying it in a market where rentals are favored over new property purchase.