While you may be taking a holiday from the daily grind, you’re investment property in Adelaide is still working hard. While you’ve got a bit more time on your hands, it may be the perfect time to consider revamping your portfolio of rentals in Adelaide.
According to data from SQM Research, there is a greater amount of stock on market now than there has been at any other time during the year. There is an excess stock of both units and houses for sale, which could lead to relatively lower asking prices as vendors compete for the limited amount of buyer activity.
This could represent an excellent investment opportunity, as buyers will not only have more choice, but may be able to negotiate lower prices.
Finding time throughout the year to look after the upkeep of your property can be difficult, especially if you are working full time as well as maintaining your portfolio. If you have the time to give your property a once over with a paint brush or lay some fresh carpet, you could increase the amount of weekly rent your property attracts in the new year.
Maintaining your property doesn’t have to be a drain on your time though. If you’d prefer to get a tradesperson in to complete repairs, the lull in market activity could mean finding a painter or general handyman is easier.
If the house is in pretty good condition and you are looking for a way to improve the overall presentation of the property, you could also consider doing some work in the garden. Your tenants are sure to appreciate a sprucing up around the place and the warm weather should be an ideal time to repair the damage of winter weather.
Property never takes a break, so make sure your rentals in Adelaide are ready to go another round in 2015.