How to maximize profits from real estate investment ?
Are you looking for ways to earn healthy returns from your real estate investment? If so, it is imperative to stay abreast of the latest realty trends in the market and constantly revise your strategies as you go to maintain profitability and achieve financial goals. Here are some simple ways to increase profits from your invested properties.
Tips to maximise returns from real estate investments
1. Stay on top of maintenance
One of the best ways to maximise returns from an invested property is by renting it out. However, rental properties require attention with respect to maintenance and tenants to stay ahead of others and reap more fiscal benefits.
You can also increase the rental value of the property by making some repairs to the asset, doing the interiors, fixing the leakage or adding some services that make the stay comfortable for the tenant.
2. Monitor the market changes
Mere investment in real estate would not hold if you intent to reap good returns. It is indispensable to stay active and keeps tabs on market dynamics. Comprehend the changes in the real estate market from time to time and analyse how you can modify your strategies to earn high returns.
3. Diversify your leasing portfolio
Apart from renting your property to tenants, you can also let it out for shoots and entertainment projects. In the world of digitisation, youngsters today are heavily inclined towards creating video content and often look for places where they can shoot their projects. Renting a property for such projects would help you earn way more than renting it to one tenant.
4. Consider the role of inflation in property values
When considering appreciation, you have to factor in the economic impact of inflation. An annual inflation rate of 10 percent means that your rupee can only buy about 90 percent of the same goods, and that includes property too. If a piece of land was about Rs 1,00,000 in 2008 and it remained dormant and undeveloped for a decade, its worth would still be many times more in an inflationary market condition.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropCASA does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information