The type of your rental property, location and conditions determine the many rental rates that you can charge and the customers who will attract you. It is important to buy the right rental property in the right area to maximize rental income and capital growth.
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The type of rental house that you can expect will be around 5-10% of the property value, although your final profit will be determined by your mortgage payment and other fees. If income and capital growth is your main concern, it might be better to shop in an outdated area where prices are low and profitability is high, but capital growth is relatively low.
Make sure you are emotionally distant and buy something that attracts you to your target market, not you. Each rental property you choose must be in a good area and close to public transportation, main roads and facilities such as shops, restaurants, parks and sports facilities. If possible, there must also be off-street parking and a quiet and safe place.
Potential tenants often have many properties to choose from, so make your property different and therefore more desirable. Buy properties with strong retail stores such as large lounges, terraces, garages or off-street parking, beautiful views, beautiful kitchens, or luxury bathrooms.
Competition for quality homes is usually difficult, so your property must be well-equipped, well-decorated and very well decorated, with all the disadvantages of fashion if you want to get a high rent.