With interest rates increasing, now would be a good time for property investors to conduct a health check on their rental property. Whether you’re planning to sell a property or add to your portfolio, a thorough investment health check will give you better insights.
Review your equity
Equity is the difference between the market value of your home and the amount you owe the lender who holds the mortgage. Reviewing your equity is especially important if you’ve made any improvements to your rental property, Whether that’s a kitchen renovation, upgrading smoke alarm systems or replacing carpets. These improvements impact the value of your property and in turn the growth of your property’s equity.
Review your mortgage
A review will help you ensure your mortgage is meeting your changing financial needs, which is especially useful when you’re planning to sell or purchase property. Reach out to your local mortgage broker to review your loan. They can give you a wide option of lenders and help find the best one for you.
Review your rent
Are you charging too much or too little? Speak to your Property Manager about conducting an appraisal of your rental property, especially if it’s sitting vacant. They’ll help you determine how your property is sitting compared to others in the area and what improvements you can make to achieve higher returns.
For your free investment property health check, please contact 07 3123 7373 or firstname.lastname@example.org