So you have invested in a particular type of property, immaterial of whether it is a commercial property or residential, receiving a return on your investment is any investor’s final goal. Having said this, there are a number of methods by which you can maintain and substantially increase the return on your investment in a way that will make the investment extremely successful. As expected, when you make an investment such as this one, it is not uncommon to need to invest some extra time, effort and in some cases money, in order to keep the existing investment going strong and make sure that it generates the most amount of return on the investment.
While you were looking to purchase the property, you will have come across other individuals that have the same idea as you do and they turn out to be your competitors. However, once you get your renting or leasing up and running it is important to keep an eye on your competition. In order to be successful and have a property which can be considered as a high yield investment property, you will need to know what your competition is charging as rent or lease at various times. This will help you to make sure that the rate you are charging is not too low or too high when compared to those of your competition.
Keep an eye on the economy
Another area you will need to keep an eye on, especially if you own a building which you want to turn into a high yield to rent condo in Bangkok, is the economy. Not only will the rates you place on your property in terms of rent and lease bring you stable renters who will be willing to sign long term contracts, but will also help you to map out how you will be able to receive your return on the investment you have made.
Yet another way by which you can make sure that you receive the most from your investment is by maintaining the building you have rented or leased out. By keeping your building well maintained and making sure that all the damages are looked into and that the building is refurbished if needed. This will greatly increase the value or the price of rent or lease on the building.
Finally to make sure that you continue to build up on the profits you are already receiving to save up and purchase another land which can be used to help you generate even more revenue than the first.