Everyone wants to live in a presentable, clean and functional home, somewhere you’d be proud to invite family and friends over. Sometimes your investment becomes available to the market, and you need a new tenant – FAST! When you’re property looks good, marketed well and priced right you’ll get more people looking at it, doing a drive-by to check it out – this is when you need to BOOST your home!
Here we have 10 helpful suggestions for the quizzical investor.
1. Initial perceptions can decide not just how much a tenant will pay for your asset but even if they’ll walk through the door! Dress up the front of the home as an urgency.
2. You can attend to paintwork once a tenant leaves that comes under ‘fair wear and tear’, this only gets worse over time, of course, eventually leaving the property looking dilapidated.
3. Doing extra work in the front yard, fixing fences and gates, tidying bushes and touching up the exterior of homes will ensure that those tenants ‘property surfing’ the area will add yours to their list of ‘to view’ homes.
4. Clear out those clogged up gutters! This will ensure that gutters don’t overflow in a downpour, maybe with water tracking into the house causing damage, stop weeds from growing out of the gutter this will also stop a prospective tenant from being concerned that maintenance issues won’t be attended to by the landlord.
5. When you look closer at peeling paint, interior or exterior, it could reveal something more sinister. Termites! The earlier you catch these little critters the better! Get an annual inspection done.
6. Sometimes doing this type of ‘maintenance’ work won’t add extra dollars per week, but it can still mean more dollars in your pocket. The property will rent sooner, meaning funds into your bank account faster.
7. In times of it being a ‘renters market’ a quick tidy up can mean the difference between renting your home quickly and it sitting on the market for weeks. Have you seen lots of construction in your neighbourhood? That’s your new competition!
8. When your old tenant leaves, it could be the perfect time to boost your properties internal appeal. A ‘deep clean’ to add that ‘sparkle’ could make all the difference.
9. Any money spent is tax-deductible and if it involves new items, fans, air conditioning, kitchens or bathrooms, then they could be depreciated. Obviously, chat with your accountant first!
10. You work hand in hand with your property management team, it’s a partnership, so always ask for any guidance as to work that they feel could benefit your valuable asset, they love to be asked to help.
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If you have a property in Brisbane that you would like to consider engaging a new property management team for, please feel free to contact Paul Tooze directly on 0414 037 007 or the friendly team at All Properties Group (07) 3800 0988.
Otherwise, we hope you have enjoyed these insider tips.