• How to freshen up an investment property

    How to freshen up an investment property

    Is your investment property about to hit the rental market again? That makes it a great time for an inexpensive facelift. Depending on your tenants, rental properties can take a serious hammering, and often require an update every few years to keep them appealing. A freshly updated property can attract a higher quality tenant – even a higher rental price, says Justine Wilson, director and principal stylist at Vault Interiors. 

    Try this to-do list to update your property. 

    How to freshen up an investment property 1

    Picture: Erinna Giblin

     

    1. Do a deep clean 

    A big clean in between tenants can make a huge difference when it comes to the appeal of a property. Your checklist should include items such as clearing and repairing gutters and downpipes, dusting and washing light fittings and skirting boards, cleaning the exterior walls and fences, and washing windows, both inside and out.

    Clean bathrooms and kitchens are especially important to prospective tenants, so have shower screens and stoves professionally cleaned, and if they’re past their use-by date, replaced.

     How to freshen up an investment property 2

    Picture: Christa Grover 

    Go for frameless glass in the bathroom for style and ease of upkeep, and hit the appliance factory seconds stores for brand new stoves (with minor cosmetic imperfections) at a fraction of the recommended retail price. Expert Cherie Barber, from Renovating for Profit, says while these items are key, avoid spending thousands, as it’s unlikely you’ll see a return on your investment.

    2. Repair and replace the little things 

    A tell-tale sign of where a fitting or fixture needs fixing – or replacing – is if they squeak, rattle or hum, says Cherie.

    “Everything from the front gate to showerheads, handles, knobs, towel rails, and hinges are subject to high wear and tear, especially in a family home, so will invariably need a fix from time to time,” she says.

    There’s nothing more off-putting to potential tenants than opening a cupboard door that has a hinge missing, or a handle that comes off in your hand. 

     How to freshen up an investment property 7

    Picture: Erinna Giblin

    3. Update the paint and the flooring 

    These are the two cosmetic fixes that add maximum visual appeal to a potential tenant’s eye, Justine says. She recommends keeping the colour palette completely neutral to appeal to the widest market.

    White paint is the way to go to maximise light in the property and give a fresh look, while dark carpet or floating floors are low maintenance,” she says.

    How to freshen up an investment property 4

    Picture: Erinna Giblin

    4. Get into the garden 

    The way the home looks when you rent it out becomes the standard for how you’d like it maintained by your tenants, and this applies to the garden as well. Before the inspections, give the garden a thorough prune and rake – and check trees for overhanging or dangerous branches.  Justine also suggests high-pressure washing for decks or patios and exterior walls.

     

     How to freshen up an investment property 5

    Picture: Erinna Giblin

    You can easily add stress-free, inexpensive colour or character to a courtyard, patio or entryway with pots of easy-care plants – rosemary or chilli bushes are easy for tenants to care for, and cheap for you to replace if they don’t! 

    5. Upgrade your storage 

    Storage is a big drawcard for potential tenants, and Cherie says it can be added in such a way that it contributes to the aesthetic appeal of your house.

    “Go for built-in wardrobes in the bedroom, shelving or built-in cabinetry in the nooks either side of a fireplace, and outdoors, bench seating with storage underneath,” she says.

    Got older style built-ins in the bedrooms? A cabinet maker can update the old doors for shiny new mirrored versions, which will add light as well as the perception of more space.

     How to freshen up an investment property 6

    Picture: Erinna Giblin

    Finally, Justine suggests using in-built bookshelves, and a floating desk system to create a study nook – popular with tenants.

    “Make sure there are ample power and data points, and task lighting,” she says.

     

    Originally published on realestate.com.au as ‘How to freshen up an investment property’ on realestate.com.au

     
     

    About the author

    • Raymond

      Raymond A Ram is the RAMbassador for RAMS Financial Group. Raymond works with the RAMS team to bring simple, helpful and expert information on home loans and savings accounts to life with his down to earth and cheeky personality. He enjoys seeing everyday Australians turn their dreams of saving for a goal or getting into a home a reality. 

      Growing up in Goulburn, NSW, Raymond was brought up with good old-fashioned Aussie values of hard work and a fair go. It soon became apparent that Raymond wasn't content for the conventional path of grazing, producing the very best wool, and finding a nice sheep to settle down with. So it wasn't long before his passion for performing and his talent as a likeable larrikin shone through - landing him a few roles such as 'RAMlet'. He was even tipped to play RAM-bo at one point but chose to become star of the small screen instead as RAMbassador for RAMS. He now finds this role so much more rewarding.

      Contact your local RAMS Home Loan Centre about your home loan options.

      Raymond A Ram

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    The information here is of a general nature only and is not intended to constitute financial or tax advice. You should consult your professional adviser, accountant or taxation expert for advice specific to your personal circumstances.

    The views and opinions expressed in this article are those of the author alone and do not necessarily represent the views or opinions of RAMS Financial Group Pty Ltd ABN 30 105 207 538 (RAMS),  Westpac Banking Corporation ABN 33 007 457 141 (Westpac) or their related bodies corporate. This article is strictly for information purposes only and neither RAMS, Westpac nor any of their related bodies corporate make any representation as to the accuracy or completeness of the information in this article or endorse the views expressed in it.