Presenting Your Property For Maximum Returns
Are your tenants moving out? Or if they have been in there for some years, maybe it is time for doing some maintenance but make sure you advise them that there will be a rental increase. Your timing in relation to this with existing tenants should be when a new term is being negotiated.
Here are 10 often overlooked maintenance issues which could bring you in that extra dollar – it could even turn your property into a positively geared property!
1. Window coverings – check that all window coverings are in working order and look respectable – no tears, dirty marks and rust marks or faded
2. Flooring – replacing shabby carpet can make such a difference to the appearance of a property
3. Kitchen – give it a good inspection. Does anything need replacing? This is the most used room in the house – if it is shabby your tenants may take a ‘shabby attitude’ towards your property.
4. A one-coat touch up through the property – a quick one-coat paint can make all the difference to a property and add $$$$ to your rent
5. Check the plumbing – make sure all water works are working properly
6. Electrical – check all electrical fittings, TV aerial and phone connections
7. Fire Alarms – if installed make sure they are in working order. Some states require them to be fitted by law
8. Locks – have a look at all the doors and make sure the premises are secure and that there are locks for every door and locked window
9. Outdoors – does the garden need a good tidy up. Do trees need trimming back or removing? Less is best – this is a really good view to take with the outside of the property. Less means less to look after and therefore it usually looks and is better maintained. Is the clothes line in top order?
10. Fencing – check all the fencing from a safety point of view and for pests.
Good tenants like to live in good surroundings. Provide that for them and you are more likely to get better tenants. Good overall property management is essential for growing your investments.
Filed Under: Investment Strategies
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