7 Features of a Profitable Rental Property

Not all real estate investments are perfect rental properties. Although a real estate investment is one of the best ways to make money, you need to make sure that you pick the perfect property that has the right features to generate you a high rental income. Lots of factors such as the property’s location, ease of connectivity, availability of everyday conveniences in the surroundings, and the attractive features of the property decide whether it can be a profitable rental property. Careful scrutiny of all these details ensures that you make a smart buying decision that pays off in the long run in the form of a great rental yield.

Here are a few important features that you must consider while investing in rental property investment to help you land a brilliant and lucrative deal:

Location and Connectivity

You can change almost anything about a property except for its location. It is crucial that the property be in a prime location where there is great growth potential. And if it is an island destination such as Koh Samui or Phuket that you’re looking at investing in, you will most benefit if the property is close to the beach. Easy access to adequate amenities like shopping malls, schools, gyms, medical facilities, and restaurants within easy reach is of prime importance to the tenants. A well-connected neighborhood with easy public transport and connectivity is highly preferred by vacationers as well as long-term renters.

Spectacular Sea/Mountain/Valley Views

A spectacular sea view from the property is much desired if you are investing in a beach destination. And if the area has hilly terrain, a mountain or valley view is also in high demand. Prospective tenants at such destinations are easily lured to a property if it opens up to gorgeous views of the ocean or lush landscapes. A property’s proximity to the beach and its great sea, valley, or mountain views is a great selling point and makes it a high-demand property, commanding consistent and high rental income.

Enticing Features

Appealing features within the property such as a private pool with a large deck to rejuvenate or entertain on can be highly irresistible for potential tenants. And so are modern designing and sophisticated interiors executed with fine craftsmanship. These are the kind of features that are highly inviting to the tenants making it easy to rent them out.

Attractive Price Point

Buying a property at an attractive price point contributes greatly to generating a good rental yield from the property. The lower the price of the property, the more will be the rental income generated from it, as purchasing it at a lower price will allow you to rent it out at a lower rent amount which in turn will make it more attractive for renters.

Natural Disasters Proof

One of the important things that you need to consider while selecting a beach property for investment is whether it is natural disasters proof. Natural disasters such as tsunamis, floods, earthquakes, and more are unpredictable and can wreak havoc on their surroundings. One wouldn’t want to lose their investment to such unpredictable damage.

Although you really can’t assure that a place will be completely immune to destruction from natural calamities, a little diligence in selecting the location helps. For instance, SKHAI’s properties, despite being located close to the beach and having a great sea view, are situated uphill which protects them from the threat of potential tsunamis.

Security and Concierge Services

One of the most important features of profitable rental property investment is that it is situated in a safe neighborhood. A property that offers stringent security is absolutely necessary. Amenities such as proper street lighting, 24-hour security, and surveillance cameras can be quite assuring to the tenant.

Additional conveniences such as the availability of concierge services are definitely plus points that the tenant considers before he decides to occupy your property.

Rental Management Program

Once the property investment is done, not many investors would be in a position to manage, rent out and maintain the property if they live at a distance. A good rental management program assures them of good rental yield as well as proper upkeep of the property. The program ensures that right from finding tenants to maintaining a regular inflow of rent collection, to the property regular maintenance, every small detail is taken care of.

A comprehensive Rental Management Program comprises detailed services such as property marketing, guest hosting, property maintenance, and providing frequent updates of what’s happening to the property to the owners in their absence. This ensures that their property is maintained and rented out smoothly to maximize the ROI.

In conclusion

A superb location close to the beach with fabulous views, surrounded by essential amenities, and has exclusive features and rental management services are undoubtedly essential for a lucrative rental property at an island destination such as Phuket or Koh Samui. Make a smart investment and enjoy consistent rental income!

Thank you for reading!

The BAYSTE Team