5 simple improvements that can make you money

You know the general market rate, however looking at your property, is there anything else you can do to increase its rental value, or at least make it more attractive for potential tenants?

With over 40 years of property management behind us, we know of ways to improve your property that don’t cost the earth, but could increase your property’s rental potential and your tenant’s satisfaction.

Here are five suggestions:

  1. Back to basics

Clean, clean, clean!

Other people’s dirt is an instant turn off, so it’s worth putting in the elbow grease or hiring a cleaner to make your property spotless.

A professionally cleaned carpet can transform a room, as can polished fixtures and fittings.

In the kitchen, the oven and stove top are often the first places a person will look, so make sure these are spotless, and don’t forget to clean the extractor fan either. Wipe down all the cuboards – inside and out.

The bathroom is another area that will need attention. Vinegar is great at removing limescale in the toilet basin, and use a toothbrush to get into those hard-to-reach places like around the bathroom taps and cleaning the grout.

Make the bath sparkle, clean the showerhead (once again, vinegar is great for this) and get rid of any soap scum on the shower screen. If you don’t have a screen, change the shower curtain.

  1. Increase the storage space

We’re not talking about building another room here, we’re talking about having places for tenants to store or display their belongings.

Take a look at some of the alcoves. Could you put some shelving there? Extra shelving, particularly in the bedrooms or living rooms enables tenants to display personal items such as books and photos and make the place their home.

There may be room for an additional cabinet or a spice rack in the kitchen too.

  1. Fix minor problems

We’re all guilty of looking at things which need fixing around the house and never quite getting round to it. But when a potential tenant sees a property in need of minor repairs, they may also see a landlord who doesn’t care.

Replace ripped fly screens, sort out dripping taps and make sure all doors and windows shut properly.

  1. Get the paint out

It is worth re-painting between tenants. A fresh lick of neutral coloured paint throughout will get rid of the scuffmarks on walls, smears around the light switches, and freshen up tired rooms.

  1. Increase the outside appeal

We love sitting outside on our sunny days and while investment properties generally have low maintenance gardens and yards, or balconies, they still need attention. Sweep away any fallen leaves and general debris, weed garden beds, give the lawn a trim and repair/paint fences. If the outside looks good, it creates and good first impression.

In our 40 plus years of experience, we’ve found looks good at the start, it will attract good tenants and they are more likely to keep it in the same condition.

Want some more simple tips on how to improve your rental value? Get in touch and our knowledgeable team will tell you some more.

Give us a call on 02 4956 9777, send us an email to mail@newcastlepropertymanagement.com.au  or pop into our Cardiff office for an informal chat.

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