If you love to read the newspapers, you’d be forgiven for thinking that buying a home in Hong Kong is almost impossible, and that if you then wanted to rent out your property, you’re in for diminishing returns.
Don’t get me wrong – house prices in Hong Kong are among the highest in the world, and for landlords the leasing market is a little more challenging than it used to be. But you can still bring in a steady profit if you’ve got yourself an attractive, well-maintained property, and it’s managed by a good agent.
So if you’re sitting pretty on a residential property portfolio – be it one apartment or a whole block or building – I’ve got five handy tips to help you maximise the return on your real estate investments:
- Pick an agent’s brain: We’re not just here to help you find your perfect tenants – although of course we do that too! Use reputable, trusted agents to keep you in the loop about changes in the rental market, so your property can keep turning a profit.
- Be smart with rents: Make sure your property is priced realistically. If you set the rent too high, you’ll turn tenants away. Get your agent to advise on a monthly amount that’s appropriate to current market conditions.
- Interior design matters: A high-spec finish to any premium residential property is a must, but don’t go overboard on the interior design! Tenants are looking for a blank canvas. If in doubt, get a professional designer or decorator to help.
- Keep it simple! With one trusted agency handling all your leasing matters you get a single, consistent perspective on pricing and the right tenant mix for your property. It also makes it easier to manage your portfolio, because you always know who to reach out to.
- If it’s broken, fix it: Handle repairs efficiently, but know that you don’t have to do it all yourself, especially if you’re out of Hong Kong. An agent can help manage any issues flagged by tenants, find reliable tradesmen and help oversee renovations.
Intrigued, and looking to lease your property? Get in touch! My team can handle portfolios both big and small.