Renovations and ensuring maintenance is done as required can be a guard against vacancies. These can also increase your cash flow. An important factor in any investors thinking.
The best rentals are always kept in the very best condition and are more likely to attract the best tenants. A well-thought-out renovation will invariably lead to an increase in the rental value of your investment. Ten dollars a week may not sound like a lot however over a period of 2 years, soon adds up.
Upgrade renovations to consider include:
- Bathrooms
- Kitchens
- A new paint job
- Enclose the yard with fencing
- Curtains and blinds
- Air-conditioning
- Security systems
- Cosmetic upgrades such as new door furniture or light fittings
Tenants will inevitably pay more for a brand new rental property however a really good renovation or upgrade to existing fixtures will still be able to compete.
For more information on this and many more frequently asked questions – contact us on 0488 662 216 or email us at rentals@therentalexperts.com.au
DISCLAIMER: This post is solely to provide information to the property investor. It is intended to provide general news and information only. The content does not take into account your personal objectives, financial situation or needs and the property investor uses this information in all respects at their own risk.
