When you buy a property or an apartment unit with the eventual plan of renting it out at a good price, there are three things you should know about the value of your investment. One is the location and desirability of the property or apartment you own. It is crucial to understand the surrounding location and the market prices for apartments in your area. If you can estimate the average rental price in your area for properties and apartments with similar statistics or details, you can also set your price higher because location is an asset that people will pay extra for most of the time. For example, take into account the total area of the apartment, the amenities that are included in the apartment package, closeness to schools, banks, hospitals, supermarkets, and main roads in addition to other rental prices of average homes.
Secondly, it is important to understand the kind of person you are willing to trust to maintain your apartment and take care of it the best way. Long-term residents have to take care of the property or else it may accrue damages and high volume of maintenance which would affect the overall net profit you get from renting. Therefore, it’s vital that you have rules, regulations and approval systems for renters.
A third thing to keep in mind is how you can rent out your apartment while you are abroad or travelling. When it comes to managing rent collection and being the contact person for any and all apartment issues such as electricity issues, questions, or rental agreement renewals managing a property can be like a full-time job! Thankfully, when you buy an apartment from us, you also get the added bonus of having Betopia Properties Manage handle all the hassle and stress of renting out your apartment unit because we are here to do it for you. After the final completion of our luxury apartments, we continue to serve our residents with our property management services to ensure you are getting the most investment value out of your apartment.
Our apartments are highly valuable investments. We make sure you know this and can take full advantage of you real estate investment as we, the Betopia Community, are growing together.