Apartments can still deliver on a couple of fronts. Firstly from an investors perspective tiny apartments can deliver good rent returns if run in a smart way. Secondly as a home, an apartment can deliver safety and a superior location.
I have always liked the concept of buying a smaller apartment and squeezing out better cash flow with a bit of work. Renovations in a small space can be quick and can give a boost to the potential rent. Consider furnishing the place, this can open up the pool of potential tenants to those who are happy to pay a higher amount of rent.
Things to check
Minutes of body corporate meeting for the past 3 years, look for any upcoming maintenance or repairs
Body corporate rules – can you put in that heat pump?
How much funds are in the body corp account?
It can be a good idea to talk to the building manager and anyone that already lives in the building for any known issues
Upcoming presentation – Buying an apartment
When: Thursday 3rd of August, 6.45pm – 8.00pm
Who: Niqui Keen & Elvira Abdrazakova – property manager and city apartment expert
Where: At our office 11 Bray’s Rise, Onehunga, Auckland (light refreshments)
Book your seat now
[contact-form-7 id=”27630″ title=”Book me in for the Apartment Presentation”]
