Mike Atkinson, Managing Director and Property Investor at Aspire Property Management, explores the financial and strategic benefits of using professional photography for rental properties. It discusses why professional photos are an important part of the property management process and demonstrates how even a small increase in rent can quickly cover their cost.
The Importance of Professional Photography
Aspire Property Management recommends professional photography for rental properties. The three key levers when renting your property are Presentation, Process, and Price. Professional photos effectively showcase your property to achieve the best price.
First Impressions Matter
Prospective tenants will get their first impression of your property via Trade Me when scrolling through a large selection of listings that often appear underwhelming. By having high-quality professional images, you will have the best chance of standing out and capturing their attention.
Emotional Connection
We have all scrolled Uber Eats, which is now filled with delicious-looking photos of food, or shopped for clothes online with perfect photos of the shoes we now know we need. We have also envied someone else’s curated and edited holiday on Instagram. The right photographs will create an emotional connection and get more people through the front door of your property.
Demonstrating Care
High-quality photos also demonstrate to a prospective tenant that you care about the rental property and the tenant’s rental experience.
Beyond the Basics: Professional Expertise
Professional Photography Audit
A survey conducted on November 6, 2024, revealed the following data on the use of professional photography in various Auckland suburbs:
Data Supporting the Investment
Extra Rent Potential vs. Cost of Photos
Extra Rent per week
Profit
Investing in professional photos for $322 could yield substantial returns over one or two years.
Projected Profit with 3% Annual Rent Increases
Factoring in a modest 3% rent increase each year:
Reduced Vacancy Benefit
Professional photography can reduce vacancy periods, as better presentation leads to faster tenant interest. Here’s how shorter vacancy times impact revenue (Assumed Rent: $700/week):
Total Benefit from Photography
Combining additional rent with reduced vacancy gives us a clear picture of total profitability.
