Achieving a high rental yield is essential for a property investor to be successful. It will help to cover the cost of the mortgage, repairs and maintenance and help to contribute additional income to the investor's salary. 

In some cases, the investor may feel they are restricted due to the property price or location, which restricts their profits and outgoings. However, there are things that you can do to help increase your rental yield. The last thing you want to do is refinance because you are not driving enough rental yield through your property. 

Make Your Property More Sustainable

With sustainable living becoming more essential for our lifestyle, improving the insulation and making eco-friendly improvements. This is something that can be a great USP for a property. To make this stand out, we recommend that you aim to improve the energy efficiency rating of your property to make it more desirable. If people can see that the property has a good efficiency rating, they will know that they will be spending less on their energy bills, which allows you to increase the rent slightly. 

Improve The Facilities 

The facilities are something else that is worth considering to help improve rental yields. Here, you should consider things like high-quality, time-saving facilities that include dishwashers, drivers, and high-speed Wi-Fi. 

Add Another Bedroom or Bathroom

This would be far more difficult or near impossible with a flat/apartment; however, with houses, this is something that is worth considering. Adding an extra bedroom is a great way to add more rental yield to your property. 

Before you consider adding another bedroom to the property, consider bedroom regulations, especially if you are looking to turn your property into an HMO. Additionally, properties with multiple bedrooms may also require an extra bathroom, so consider this as well to help increase the rental yield. 

Maximise The Space in Your Property 

Maximising the space that you have doesn’t always mean adding another bedroom or bathroom. It can be something more affordable and convenient for the property. This could be built into cupboards and unique storage spaces. This is something that is very appealing to those who want to move into an apartment where space is limited. Not to mention those who are looking to grow their families. 

Allow Pets Into The Property

A lot of rental properties won’t allow tenants to have pets, which is a great USP. This can be another great opportunity to increase rental yields at your property. The reason why you can increase the rental yield on your property with pets is that they may potentially cause damage; however, the repair costs won’t be that much, so you will still make a profit. 

There aren’t many properties that allow pets, so you’ll definitely get more people applying to rent your property from you. 

Avoid Vacant Periods

One thing that will definitely affect your annual income is extended vacant periods. This is the last thing that you will want. Ensure you contact your current tenants in advance before their contract is up, so you can reduce the vacant periods. Then, when their tenancy is nearing the end, you can get the next lot of potential tenants to view the property. Whether you have a property investment in Leeds or a small town outside of Manchester, it is important you avoid vacant periods so no money is lost.