Updates to your property, whether it’s for style or function, can significantly increase value and tenant appeal. Here are some renovations investors can undertake to attract a wider scope of tenants as well raise the property value and weekly rent.
Fresh paint and new carpeting
Not only will it make the place inviting, but paint can quickly cover up minor signs of wear and tear. Worn carpet should also be replaced with a material that ages in both durability and style. Neutral tones are ideal to keep the property attractive to all sorts of tenants.
Add air-conditioning
Installing air-conditioning can make all the difference to a property’s perceived value, especially during the hotter months. You’re more likely to get a bargain on a quality model if you shop outside the summer season.
Storage options
Investors should consider extra cupboards, shelving, garage storage, or even an outdoor shed. Likewise, built-in robes are enticing forms of additional storage, particularly floor-to-ceiling robes.
Updated kitchen and bathroom
Whether you make large or small scale changes to the kitchen and bathrooms, it will greatly increase property value and appeal. Any tenant will be pleased with a fresh-looking space with reliable fixtures. Simple updates may be regrouting old tiles or updating the vanity.
Stacey Lee Realty has experienced Property Managers to handle the task of maintaining your investment and ensure your investment is working for you with minimal hassles. Call us today at 07 3399 2966 or visit www.staceyleerealty.com.au