Is your property looking a little tired? An investment property that looks rundown won’t attract tenants. If you’re thinking about ways to make your property more attractive, we have five property improvements that will make your money back in no time.
1. Do a bit of general cleaning
Tenants can tell when a property hasn’t been maintained. If they see things like scuffed floors or dirty walls, they’ll walk the other way – even in a tight market. Something as simple as steam cleaning carpets will add instant value. In between leases ensure that curtains, blinds and carpets are cleaned, dents in walls are patched and painted, and that all light fixtures and locks are in working order.
2. Updating or installing appliances
Appliances that show their age turn tenants off because they look like too much hard work! Consider updating your dishwasher, stove and stovetop to newer, more energy-efficient models.
3. Bathroom spruce-up
The bathroom is one of the biggest drawcards in any rental. The first suggestion we have is swapping out your showerhead, taps and toilet for water-efficient/flow-restrictive fixtures. This change is good for the environment and also a selling point for tenants. Our second suggestion is purely cosmetic and is reasonably cheap: update vanity knobs, mirrors and even the shower curtain to give your bathroom a mini facelift.
4. Look at the lighting
You’d be surprised how great an impact lighting can have on tenant perception and perceived value of the property. Light fixtures (especially fluorescent lights) can really date a room and have an impact on ambience, so consider an update. Modern pendants and sconces will do wonders for any room and at $100 per fixture they are money well spent.
5. Don’t forget the garden
In Perth, nothing is more important than having a water-wise garden. While grass looks great, we’ve noticed that a lot of lawns suffer and deteriorate in the heat of summer and even during the sprinkler ban months between June and August. A well-planned native garden works best for our climate (the Water Corporation has some great tips about creating one). If you’re still keen on grass, include lawn mowing and garden maintenance in the rental price in order to take the burden off your tenant and ensure that your garden is always pristine.