Improving Rental Value of your Investment Property. One of the questions that clients often come to me with is “What would be some small improvements I can make to my property that would increase their weekly rent that I can charge?”. When looking at property improvements we tend to look at them in two (2) different categories:
- Improvement that can increase weekly rent
- Outdoor living space like a covered deck.
- Air Conditioning throughout the property
- Swimming Pool
- Outdoor Storage like garden sheds
- Improvements that will increase appeal of your property and improve the inquiry level that we get on your property.
- Security and fly screens
- Tasteful blinds and curtains
- Ceiling Fans
- Built in wardrobes
- Fully fenced backyard
If you are thinking of injecting some money into your investment property you do need to think about whether;
Will this increase the rent that you can achieve on the property?
Will this increase the appeal?
Because there are things that you can spend money on that won’t do either. These could include:
Doing expensive landscaping in the garden that would be difficult for the tenants to maintain or; investing in high-quality fittings that the tenants might not even recognize or appreciate.
If you are looking at making improvements to your existing property or you’re thinking about purchasing a property that might need a little bit of work, please engage with us as early as you can because we’d love to help you out through that decision making process.