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Five keys to successful apartment leasing
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- (Photo courtesy of Lifull.id/-)
S
o, you have just decided to invest on an apartment unit? That could be a good decision, considering the ever-increasing demand for apartment units these days.
Serviced apartments have the highest demand. This increasing demand will up the rent price of those apartments. So, instead of waiting for the selling price to increase, it is better to lease these apartment units for higher and more regular profit.
In order to maximize profit from the leased apartment unit, pay attention to these five factors:
Location
Is your apartment located in a strategic area? If not, does the area have the potential to become lucrative in the future? You can measure an area’s strategic value from a number of factors, including its proximity to main roads, shopping centers, schools and universities as well as transportation, from bus stops to airports.
Do not hesitate to charge a high rental fee for your apartment unit if it is indeed located in a strategic area. Locations like Cibubur, West Java, and Lebak Bulus, South Jakarta, are also seen as a lucrative investment sites, thanks to the construction of mass rapid transportation (MRT) in the area.
Cost calculation
To make sure your investment is profitable, calculate costs carefully. When buying a property, take into consideration maintenance and electricity costs as well as emergency costs for potential damages, such as internal facility malfunctions. Keeping an emergency fund is crucial for potential damages.
Insure your apartment unit
Protect your property from unpredictable risks, which could cost you beyond your emergency fund. Insurance is a form of long-term investment, but do not take it for granted.
Renovate and repair
You should repair all the defects in your apartment, including dents and stains on the walls. In order to appear more attractive to prospective leaseholders, you could also renovate the apartment unit and reinvent its interior design concept. The most popular example for this is the minimalist interior design inspired by Japan’s Zen lifestyle embodying modest, environmentally friendly and peaceful lifestyles.
Make use of marketing and promotional tools
Make use of online advertisements, the internet could help you save money and resources. You can make use of various online property agents, such as lifull.id, to help market your apartment units.
Taking care of property business is not easy; this is where a property agent’s expertise could help you manage your business. This will be an additional fee, but the money you invest will multiply as you are being assisted by experienced professionals.
When selecting a property agent, do a background check regarding reputation and track record in order to ensure that they are truly competent to assist you in your business.
