Is your property manager the reason your investment isn't yielding?
Peter Morales Valovirta •
The State of Your Rental
Testing the wellbeing of your rental property is something we strongly encourage everyone to do, a simple way to do this is by calculating the rental yield, and it's really not that hard. It allows you to gain an understanding of how well your rental property is performing, giving you an idea of what's working and what's not. This is information your agent should be able to help you with noting they are the ones responsible for reporting.
Why Rental Yield is Important
You can look at your rental yield as the general health barometer, it indicates where your rental is performing, and when it's not, what the contributing factors. Is it because your tenants require costly maintenance request, that your rent is simply too low or that your property manager charges too much.
How You Can Improve it
Often, poor rental yields are the result of a poorly managed rental. Having good tenants is an obvious counter measure, resulting in lower maintenance costs and mitigates the risks of missed payments. Another easy solution is to double check whether your agent has placed your rental on the market for the correct market rate, agents can have other motives for listing at lower rates. It can also be worth comparing and see whether there are other rental management services that gives you better service without hidden costs and lower management fees.
Calculate Your Rental Yield
Interested to know more on how Cubbi works to bring tenants and owners onto the same platform to improve the renting experience for everyone, subscribe to our blog or visit Cubbis website to experience better rental management.