Taking ownership of your first investment property is a thrilling experience! Proximity to necessities, easily accessible travelling routes and a modern home create the perfect combination for a successful property rental. If you’re opting to manage your own rental, then you need to keep a few factors in mind to ensure that the experience is as seamless as possible. Here is what you need to consider if you want your Ridge Town Central investment to thrive.

Rental yield
Ensure that you conduct your research on Umhlanga Ridge Town Centre which should include the average rental yield. This area presents an estimated rental income of at least R7 750 per month on a studio apartment, so it is important to know what you would need to put in and get out each month. Due to an influx of individuals wanting to live in the area, close to businesses and work, Umhlanga continues to see a steady increase in rental inflation on a year-to-year basis.

Screen your tenants
Do your research on your new potential resident. Ensure that you ask the correct questions when meeting him/her and encourage them to share important information that will be beneficial to you. Do they travel often, have a steady income and even their partying habits which can relate to their behaviour towards the rules and regulations of your property. In the 21st century, there are all sorts of legal ways to gain information including social media, so use it to your advantage and ensure your future occupants are compatible with your needs.

Landlord’s rights and obligations
If you intend on becoming a landlord then you need to learn the basic rules and regulations that you as a landlord need to abide by. When entering into an agreement, you need to be aware of what is acceptable, so you are aware of your rights. For example, you as a landlord may request that your occupant pay a refundable deposit upfront in case there may be damages, but this deposit may not be used for yourself or to make improvements on the property.

At Ridge Town Central, you have the ability of renting out your home and reaping the rewards. As a location that is in high demand, you can give your tenants access to the range of onsite facilities with great proximity to all they require while building a trusted relationship for years to come.