Hi,
I have a 2 Br apartment in West Ryde. It's on the train line, 1 minute walk from station.
I was thinking about how to get the best rental return for this property. I was thinking perhaps leasing out the car space separately to the apartment could be a way to go. Apartment would rent for maybe $440 per week, car space $45, or maybe more. (It's just 1 minute to the trains and buses etc). Previously I was getting $460 for both together. (Rented out via an agency)
To rent out the car space long term, would listing it on Gumtree be the way to go or are there better places to advertise? It would be available from the 16th May. I would probably rent out the apartment via agency (note that the apartment is conveniently located to my home, my work and it's on the way from the city too should I work there but maybe the hassle of self managing isn't worth it?)
Ps. I suspect giving access to the car park may also necessitate giving that car space renter a key for the common areas which include swimming pool. Not sure if that would be completely great in the eyes of other people living at the complex should they decide to start using that facility. I guess only a fairly small proportion of tenants use the pool anyway...
I was also thinking as an option I could lease out the apartment to students Feburary or March to November and airbnbing it between Dec to Feb, with a better yield possibly, though that could be more hassle than it's worth, having to remember i'm responsible for furnishing the apartment and electricity bills and wifi.
It's somewhat close to a TAFE campus (still at least 15 min walk though) but I think uni students (Macquarie or Sydney Uni, or maybe Parramatta via bus) are possibly the students who are more in need of accommodation March to November and there's more demand from this group of people during semester.
Ideas and thoughts?
Ta
I have a 2 Br apartment in West Ryde. It's on the train line, 1 minute walk from station.
I was thinking about how to get the best rental return for this property. I was thinking perhaps leasing out the car space separately to the apartment could be a way to go. Apartment would rent for maybe $440 per week, car space $45, or maybe more. (It's just 1 minute to the trains and buses etc). Previously I was getting $460 for both together. (Rented out via an agency)
To rent out the car space long term, would listing it on Gumtree be the way to go or are there better places to advertise? It would be available from the 16th May. I would probably rent out the apartment via agency (note that the apartment is conveniently located to my home, my work and it's on the way from the city too should I work there but maybe the hassle of self managing isn't worth it?)
Ps. I suspect giving access to the car park may also necessitate giving that car space renter a key for the common areas which include swimming pool. Not sure if that would be completely great in the eyes of other people living at the complex should they decide to start using that facility. I guess only a fairly small proportion of tenants use the pool anyway...
I was also thinking as an option I could lease out the apartment to students Feburary or March to November and airbnbing it between Dec to Feb, with a better yield possibly, though that could be more hassle than it's worth, having to remember i'm responsible for furnishing the apartment and electricity bills and wifi.
It's somewhat close to a TAFE campus (still at least 15 min walk though) but I think uni students (Macquarie or Sydney Uni, or maybe Parramatta via bus) are possibly the students who are more in need of accommodation March to November and there's more demand from this group of people during semester.
Ideas and thoughts?
Ta