Strategies on increasing yield

What are your strategies for increasing yield on your properties? Please share what you did, how much the improvement costs, and what the rent increase was.

I'll start off - I'm building a GF in one of my NSW properties. 120k build costs, estimated rent about 300 p/w.

I have another property that is fairly new (about 5 years old) which was purchased as a house and land package. Not much to do there except maybe putting in an A/C (about 2000 bucks), this could potentially increase the rent by another 15-20 p/w.

 

I buy old houses, knock them down and build multiple townhouses, that helps increase the yield nicely.

 

Hello,

The properties I usually buy will give me the access to build at the back. This provides an attractive yield!!!

I used to buy properties, renovate and then sell but I feel like the market has changed!!!

Also there are a few little things you can do to increase the yield:
1) Review the property insurance's: When was the last time you reviewed your landlord insurance?
2) Review your current loans: Could you be with a better lender that has a better rate and a lender that suits your needs more?
3) Just ensure if you are spending a dollar that you make a 1.20 in return eg for renovations etc.
4) Have you reviewed your property management fees?

 

One of the easiest ways to increase yield when the opportunity arises is to convert two large bedrooms or another room into a 3rd bedroom.
Generally most people don't like 2 bedroom houses unless they fit their circumstances, its easy to over look these and they tend to sell at a discount.
If an extra room can be created which isn't too small its most likely an instant yield increase due to higher rent achievable

 

Another perspective outside of block splitting and renovation; investing in areas that currently have the strongest tenancy demand in the suburb in question (high rents, high levels of current tenancies but low rental stock), which will enable you to increase rents faster than the suburb overall - thereby increasing yields via aggressive rental increases based on that high demand.