How cost-effective preparation can help maximise rental return
Preparing your home for rent is crucial as it can secure quality tenants that you can trust living in your investment property.
Finding quality tenants first starts with a nicely presented and well-maintained property. Attracting high-quality tenants result in higher rental yields.
As well as having appealing presentation, there are some things you can do to increase your property value.
Perform a deep clean
Presentation is key when it comes to the rental market. If you have an unclean home, it not only attracts poor quality tenants but sets a low expectation for cleanliness. A clean home sets the example for tenants, and it will give you more options as there will be more people applying for your property.
Stay on top of repairs & maintenance
It is the landlord’s responsibility to keep the property in good and safe conditions for tenants. So before listing your property, go through your home and inspect it for any problems or maintenance issues.
Fixing issues or performing maintenance now not only saves money from costly future problems but causes fewer inconveniences to your tenants.
Some common repairs and maintenance issues include:
– Fixing broken screens, light fittings and window coverings
– Repairing leaks and toilets
– Faulty light fittings or wiring
Add some new paint
Adding new paint is a simple yet effective way to improve the look and feel of your property. New paint is a great strategy you can use to maximise rental income. Tenants place high regard on a premium feel, and with paint, you can achieve just that.
Create a fresh kitchen space
With kitchens, you don’t need to renovate to create a new fresh space. You can simply paint, resurface, or replace certain aspects of your kitchen without the extra expense of a full kitchen renovation. Using products resurfacing kits, laminate paint and tile paint can easily convert your kitchen to a modern area. If you have timber cupboards, you can easily replace the fronts or paint them.
Freshen up the bathroom
Freshening up a bathroom adds a modern look to an old design. Older bathrooms may have multiple colour combinations that don’t work, but that can be fixed with some tile paint. Tile paint is very cost-effective and is a fraction of the price of new tiles.
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 email@example.com.
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.