Monday 20 Nov 2017
About to re-enter the market with your investment property? With plenty of tenants on the hunt for their next rental, it’s crucial to ensure your space is refreshed and ready to go. By giving your investment property a cosmetic facelift you’re guaranteed to attract higher quality tenants, enabling you to set a higher rental price for maximum profit.
Just a few inexpensive steps can transform your space into a rental goldmine, and allow for a serious return on investment. We explain what potential tenants look out for during an inspection, how to create an inviting and ambient outdoor area and the importance of installing savvy storage solutions.
TIME FOR A SPRING CLEAN
Starting with a deep clean is essential when preparing your property for market. Impressing your prospective tenants with a fresh, sparkling home begins from the moment they step through your gate. Thoroughly sweep front gardens or courtyards, clear away leaf litter from gutters and downpipes and give exterior walls and fences a good wash.
Moving indoors, bathrooms and kitchens are two hot spots for unwanted dirt and grime. Tackle these important areas by focusing on often neglected spots like shower screens, stoves and splashbacks.
Make sure to clean windows both inside and out, and don’t forget to dust those hard to reach shelves, fan blades and light fixtures.
GET OUT THE TOOLKIT
Making little repairs to your investment property can mean big improvements on market value. Amend general wear and tear from previous tenants to make the home feel as good as new. Tighten loose door handles, fix sagging hinges and check fences for any signs of damage.
And this goes for cosmetic fixes too! A fresh coat of paint instantly refreshes any home, and removes old marks and scratches that detract from your property’s look and feel. Opt for light neutral shadesthat act as a blank canvas, guaranteed to attract a broad section of prospective renters.
BECOME A GREEN THUMB
Nothing screams an inattentive landlord like a messy garden. Outdoor spaces set the tone for the rest of the home, so making a good first impression is a must.
Fill garden beds and planters with white pebbles for a simple yet stylish look. Clear away weeds from all paved areas, and check for unsightly cobwebs on patios and balconies. Throw in bright pops of colour with the addition of pot plants. Choose easy-care varietals such as rosemary and chilli bushesthat will be a breeze for tenants to maintain over time.
CREATE SAVVY STORAGE SOLUTIONS
Space is one of the biggest for concerns for prospective tenants. Choosing between properties often comes down to the amount of storage available for use. Prepare your property by including savvy space-saving storage to attract your next tenant.
Built-in wardrobes are a big win for renters and will instantly add value to your home.
Top tip: choose cupboards and storage with mirrored doors to create the illusion of bigger, brighter rooms. Take advantage of outdoor seating by picking benches with underneath storage. For a serious appeal, try creating a study nook using bookshelves and a floating desk in your property’s bedroom or living area.