TEN PERCENT AT DAY TEN RULEWednesday, May 06, 2009 Many novice investors think that they would like to hold out for the highest rent possible before letting their property – even if this means losing several weeks rent. Is this a good idea? Experienced property investors report that the best way to maximise the return on their investment properties is to keep the property let – in other words to mimimise vacancy. But it is not always easy to decide to lower the rent. It is tempting to hold out for “just another week” and before you know it, another one goes by. But experienced investors say that doing the sums shows that holding out for a high rent is counter-productive; if the property is never going to let for $400 a week anyway, losing $350 for even two weeks is $700 that, spread over a year, will lessen the overall weekly return to less than the $350 the property will actually let for. - localpropertynews.com |
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