Property rental is a good way for home owners to have an extra stream of income. While location plays a huge role in determining property prices, homeowners do not have to lose heart if their home lies outside of a prime area. The ideal location is a subjective construct, and is different for family based on their lifestyle, needs, and stage of life. It is important to know how to identify the characteristics of your home and use them to your advantage when negotiating for property rental price. For example, if your place lies away from main roads and train stations, you may market your home as one that is closer to nature. When taking photos, emphasise empty streets, wildlife and greenery. It is also important to know your target audience when crafting a listing description and taking photos. Are you looking to rent out to exchange students or a working professional? If it’s for the former, you can offer to give recommendations on the best places to visit in Singapore, and highlight heritage trails, museums and landmarks in your area. For the working professional, you can place emphasis on night time activities after a long day’s work.
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Are you ready to be a tenant? Explore the ins and outs of the entire rental process first!