YBR

Andrew Morello: What to look for in a property

In this article:

An excerpt from Andrew Morello's eBook The Morello Matrix: your guide to property investment. Andrew, provides his comprehensive personal approach to buying real estate and building a property portfolio.

To get your free copy of the full Morello Matrix eBook visit www.ybr.com.au/morellomatrix

Consider the type of person who will want to rent your property i.e families want schools, why young professionals want restaurants and public transport.

Consider these attributes

  • Close proximity to shops
  • Distance to schools, universities, colleges
  • Close to churches, playing fields and parks
  • Proximity to public transport
  • If on the edges of the city, close to a freeway
  • Near to cultural hubs such as cinemas and theatres
  • Near to a waterway, such as a beach, harbour or river
  • In a place with character, such as colonial or federation style
  • In a building with community features such as tennis courts, pool or barbecue area
  • Close to a major employment centre

All of these may seem basic, but you must consider them. There are other things to look for in the actual rental property:

  • Modern, clean kitchen
  • Clean, functional bathroom
  • New floor coverings
  • Good paint job
  • Garden
  • Extras such as paid television connection, storage shed, barbecue area
  • Good laundry (if renting to families)

Take the first step

Type of tenant

Try to get a tenant to sign up for longer than a year

  • Ask yourself: is the highest payer better than a tenant who is most likely to really look after your property?

Outsourcing service: if you don’t have a lot of time or willingness to invest in learning about legal matters, maintenance and collections, then strongly consider outsourcing this to specialised businesses that do: property management businesses.

Feature articles

Make the Most of a Pre-Settlement Property Inspection All that stands between you and the property settlement is the final inspection. Here’s what to expect.

How Redraw Can Surprise You with Its Savings While interest rates remain low, find out how to pay off your home loan faster using a redraw facility.

Apartment Buying Checklist: 7 Not to be Missed Factors Shopping for a great apartment that you can live in or rent out? Add these seven factors to your apartment buying checklist.

Where to Park Your Money While Saving for a Home Loan You’re saving for a home loan, but you’re not sure where to store your money. Here are three options worth considering.

5 Ways to Sell Your Home in a Slow Market Here’s how to get your home noticed by serious buyers as Australia’s property market slowdown continues.

View all articles



Enquire now