The real value of a property is dependent on the extra income that could be generated from the same. So, while planning to purchase or dispose of a commercial area think about the ideas that could enhance the potential returns on your investment made.
Consider these strategies that could help you in making the most out of your real estate investment.
- The simplest step to uplift the value for your property is by raising the rent price if it is leased out. Charge an amount that is apt to your property location. For example, if it is in the middle of the city or so, you can readily increase the rent amount for the services the occupants receive easily.
- Earn extra by keeping a pretty good sum on the parking slots. Covered garages or other additional parking spaces given for the same party may be charged even more.
- If you have a good storage area like the Sydney scaffolding buildings that are used by the tenants, you may definitely go ahead to charge for it on a monthly basis.
- Moreover, if you own a clubhouse or warehouse type of building just rent it out for parties or such events. It is also a good idea if you conduct tuition classes there.
- Add on services to your onsite space like a vending machine along with a juice and snack bar.
- A coin-operated laundry unit including both washers and dryers will be another great idea. In addition, you can keep a laundry counter for selling detergents and also an ironing unit.
- Allow flex or placard advertising in your area. This can simply produce money.
- Another notion includes keeping an onsite ATM machine near to your space.
- Provide a good internet Wi-Fi scheme in your area and charge people for using it.
- Consider improvising the beauty of your property. For example, bringing in a shopping center or renovating the interiors can all build up your portfolio as well.