Maintain your investment as though it were a business
Actively managing your investment portfolio is vital to the success of any positive investment return. However, this may not be as straightforward as it sounds and the best way to approach your investment is to treat it like a business.
As in any workplace, a great team will produce great results. Choose a property manager such as Raine & Horne that can deliver premium results.
Just like a business, your property needs to remain competitive to attract tenants and your second step should be to review the rent regularly, say every six or 12 months (and with every change in tenancy), to ensure it remains competitive in a market sense.
Thirdly, approach your investment portfolio as if you are expanding your business. Control your personal spending and plan for the future by investing more than the minimum into the mortgage if this is part of your strategy.
Paying more off the mortgage than you need to will set you free to expand your portfolio and can potentially set you up with a tidy nest-egg at retirement.