The end of the year is coming fast. The moves Canadian property investors make now can make all the difference in maximizing 2014 portfolio performance and setting themselves up for a great 2015. Here are some steps that can help end 2014 strongly.
1. Capitalize on Seasonal Acquisition Opportunities
This time of year traditionally yields many attractive real estate acquisition opportunities. Asset prices may rise significantly as we move deeper into the fourth quarter. So take another look at what's on the market and act accordingly.
2. Take Advantage of Improving Retail Performance
Retailers are headed for a significant boost as we approach the holidays, carrying them into the new year on positive results.
Increased sales mean more revenues and better rental income for retail property landlords. So look out of retail property investment opportunities and opportunities to increase rent or execute performance based lease provisions.
3. Position Properties for Better Dispositions
The end of year can be extremely active for real estate purchase and leasing activity. Make the necessary moves to elevate your positioning now and increase value ahead of new offers to rent and buy your units.
4. Weatherize and Improve Energy Efficiency
Now is the time to weatherize homes and investment properties. Improve energy efficiency before the winter weather arrives. This can keep operating costs down, net income up, all while making properties more attractive to potential tenants and buyers.
5. Giving Tuesday
Giving is just as good as getting, sometimes even more so. Right after Black Friday and Cyber Monday comes Giving Tuesday. Find a way to give can benefit both parties.
6. Optimize Tax Liabilities
Investing in tax preferred vehicles, contributing to plans and making donations ahead of the end of year can increase your tax liabilities.