How to maximise your rental income, for real estate investors
There are many ways you can maximise your rental income, many of which comes down to adding value to the property which can take many forms including:
- Adding an en-suite
- Upgrading the kitchen
- Adding another bedroom
- Getting a property with a garden or parking space or both
- Accepting pets
- Remortgaging to a better rate, which decreases your costs
- Setting up as a company, so you can pay corporation tax instead of capital gains which tends to be lower, so again you get to save on costs, plus you can write off any business costs decreasing the tax you will pay
- Considering a HMO ie. house of multiple occupation, this is when you rent a property to more tenants, eg. every bedroom is occupied by different tenants
- Location, invest in locations with better yields, you can find the places with the best and worst yields HERE
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