Property Investment News | Maintaining Property Value

How to maintain the value of your investment property

Rental homes should never be set-and-forget.

What shape is your investment property in? If it has fallen into disrepair, you could be set to lose out in the long term.

As an investor with a budget that is stretched to the limit, you may feel as though you’re saving money by avoiding regular maintenance. However, this is false economy. The longer you leave issues without fixing them, the higher the eventual cost of repair will be. Plus, you risk finding yourself in a situation where your tenants have moved out and it is hard to find replacements because of all the work that needs to be done.

To maintain the value of your investment property, keep your eye on the following:

• Locks on doors and windows
• Roof & gutters
• Security and fly screens
• Paint inside and out
• Air-conditioning and heating
• Floor coverings like carpet and linoleum
• Window treatments
• Tap fittings
• Cabinetry
• Power points and lights
• Garage doors
• External features like stairs & pathways
• Sheds and decks
• Fencing and entryways

These should all be checked regularly and repaired when required. The good news is that fixing these many of issues can be tax-deductible, depending on the way you have set up your loan. What’s more, when you do take good care of the home, it’s likely your tenants will stay in it for longer.

Be vigilant about property maintenance with the help of a proactive property manager and you will be able to uphold the value of your home for the long term.

If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Head of Property Management, on 9651 1666 or anna@guardianrealty.com.au.

Important note: Clients should not rely solely on the content of this newsletter. All endeavors are made to ensure the content is current and accurate however, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readers should seek their own independent professional advice before making decisions.

 

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