Ideas for best rental return West Ryde Unit

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
 
Taking away the car space will lower the pool of prospective tenants.

At the end of the day, it is West Ryde, its not Sydney CBD. Most people who live out that way will have cars... even if its only used on weekends.

If you want to know if your idea will work, look around for Go-Get. There aren't any Go-Get cars in the 2114 postcode. I would guess that Go-Get have done their own research and it probably revealed that those living in the 2114 postcode (even with the high concentration in Meadowbank) that people own their own cars.

Also, car spaces are quite plentiful in West Ryde / Meadowbank station.

In addition, car spaces rent as low as $20 per week in Strathfield. Why would one want rent a car space in West Ryde when they can rent one in strathfield? West Ryde has trains every 15 mins. Strathfield has one every 5 mins.

http://www.domain.com.au/property/for-rent/apartment-unit-flat/nsw/strathfield/?adid=9148067&sp=3
http://www.domain.com.au/property/for-rent/apartment-unit-flat/nsw/strathfield/?adid=8679013&sp=1

Not saying your idea isn't possible, but it will most likely have adverse outcomes elsewhere.
Sometimes its better taking $20 less if it means a better tenant. ie - i'd rather get $460 per week with a decent tenant than $480 per week for an so so tenant.
 
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The furnished option will definitely get you the highest return, as long as you can find a tenant in a short amount of time.

I think the best thing to do though, is to rent it with the car space, and ask potential tenants if they need the car space to get an idea if there are many people that don't need the car space.

That way you have the option of leasing it with or without a car space while minimising vacancy and uncertainty.
 
What i've ended up doing is advertising it with a basic price for the apartment with no car space and then adding the car space cost as an additional extra. Same with furnishing it.
 
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