Make sure you’re getting_maximum rent Here’s just a few of our top tips
Before You Buy – Location
- Walking distance to cafés and recreational areas
- Walking distance to shops (or even corner shops for the essentials)
- Walking distance to transport.
- Try to avoid main roads – the added noise is a detractor for many people making properties on main roads inferior capital earners on the sale market and quite a bit harder to rent out as well.
- Orientation – which rooms face in which direction? As a rule of thumb, properties with living areas facing north or northeast are more desirable for tenants as they make best use of the morning and midday sun.
- Aesthetic surroundings – if neighbouring properties and streets are well-maintained and attractive, your property will benefit with higher rental return and stronger capital growth within a given suburb.
After You Buy – Renovations/Improvements
- Fresh paint
- Fresh floor coverings
- Mini bathroom reno: new vanity, new shower screen (or add one if there isn’t one)
- Re-enamel the bathtub
- Add laundry taps to old units without laundries
- Change appliances to stainless steel
- New bench tops in the kitchen
- Clean, clean, clean
- Keep decor simple and neutral
- Add air-conditioning
- Fix cracks and chips
- Create an outdoor entertaining area
- Make the garden pretty
- Security screens and locks
- Ensure all appliances (ie: hot water system, air-con, heaters, oven, stove etc.) are in working order and replace any blown light globes as well.
“A goal, without a plan, is just a wish”