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