News

12 rental property renovation ideas to increase your profit

By Mary Taylor

At our most recent Investors Evening, we had the wonderful Mark Trafford from Maintain To Profit as speaker. Mark provided great advice on how to get “The Best Bang For Your Buck” when renovating and/or redecorating rental property. You can see the video of the event below.

Often when landlords have tenants vacating they want the fastest turnover possible therefore the coordination and availability of a team of tradesmen is key to minimal downtime.

Key areas that landlords must improve

Below is a list of property renovations that all landlords need to make in order to get the best return and maximise the potential of their investments:

  1. Refreshing a property with paint can instantly improve appeal and can be low cost
  2. Add heating to a home – heat pump/insulation
  3. Replace shoddy carpet – again this is not a huge cost but will drive the rent up
  4. Bathrooms and kitchens must be clean and tidy – you can paint cupboards, lay lino, replace bench tops and improve showers all at low cost
  5. Replace drapes – doing this helps property present significantly better
  6. Improve street appeal by recreating low maintenance gardens
  7. Can you convert a room to add another bedroom?
  8. Do you have any storage at the property and if not can you create some?
  9. Can you add a carport or garage – this adds real value and more rent
  10. Is the property fully fenced?
  11. Will you accept pets?
  12. Clean, clean, clean!

If you would like to receive an invitation to our next Investors Evening please submit your detailson the form below. We will be pleased to have you!


Your Contact Details

Up to Date

Latest News

  • Are you charging a fair rent for your property in Auckland?

    What’s happening in the Central Auckland rental market? Here we have a graph taken from statistics issued by the REINZ. As you can see the graph depicts the change in rental figures achieved in January 2015 and 2016. Do you know how to find out if you are achieving the correct … Read more

    Read Full Post

  • You get what you pay for

    At Taylor Rentals we have found this saying to be true this month. We had been approached to manage a particular property two years ago, but the owner decided to seek the services of a small home-based property management company, which offered a very low commission rate which we could … Read more

    Read Full Post