You cannot underestimate the importance of the state of the local rental market. Ask yourself what the age of the potential tenants is, what their financial and family situation is, and then assess the ideal audience for your residence in sunway damansara condo.
Determine A Realistic Rental Price
The rental price depends on 5 factors:
Here, too, location is everything it revolves around. One city neighborhood is more popular than the other. The more attractive the neighborhood is, the higher is the rent.
The Layout And Size Of The Property
The bigger your home, the more you can ask for. That makes sense. The design of your apartment or house is also decisive. Whether you have a beautiful facade has an influence on the price. Just like the design of the kitchen or the bathroom.
The Condition Of The House And Its Maintenance
Does your property require a lot of maintenance? Or does it not meet the environmental requirements? Then your rental price will be a bit lower compared to newer and better-maintained buildings. As you could read above, it is better to buy a new-build apartment in that regard.
Garden, Terrace, and Parking
With a new construction project in a city center, you cover the three previous points. If you manage to offer a terrace, garden, or parking, you can confidently propose a correct rental price. Investing in a real estate surrounded by greenery or extra space is always a smart move.
The Market Situation
The rental market is no different from any other market: the greater the supply, the lower the asking prices. So research carefully how the supply relates to the demand and whether there is a wide range of similar rental properties around your investment.
If you take these 5 factors into account, you will arrive at the correct rental price. You can always go to this rent estimator to estimate your rent.
Join The Rental Guarantee Fund
You have carefully screened your tenants and selected them with conviction. But it soon becomes apparent that the lease is not being observed. Fortunately, this doesn’t happen that often. But if your tenants fail to pay, a membership to the rental guarantee fund comes in handy. This fund covers up to 3 months of unpaid rent, with a ceiling of $2,776. Is that another investor or a private person who wants to live there himself? If the choices are very limited, it will affect the selling price. If you invest in a hotel room, the only buyer of your hotel room is another investor. Check out sunway damansara condo for sale for more information regarding properties.
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