As the title of this post suggests, here are some simple ways to add value to your investment property:

1. Keep your property updated. This means new carpet and repaint every 5-10 years. Consider updating the kitchen or bathroom, updating the flooring or lighting, or installing new appliances.
2. Ensure the property has good storage, lighting, new appliances and heating or cooling. These things appeal to Renters the most.
3. Make your property “Pet Friendly.” Considering more than 60% of people living in Australia have a Pet, there are ways to ensure your investment property is user friendly for pets. Make sure the property is well fenced, and the backyard especially, is secure. Installing hardwearing floors can prevent having to repair or maintain regularly. Installing scratch free security or wire doors is another option for the home.
4. Keep up with maintenance and repairs. This should be a no brainer and is a large component of owning an investment property. Regular maintenance and repairs can help maintain the value of your investment property over time. This includes fixing any leaks, electrical faults, repairs to appliances, broken handles/taps/doors/fences etc.
5. Do some simple landscaping. An easy to maintain garden makes life easier for everyone, including you. If there is less maintenance required, than less many out of your pocket and the garden always looks appealing. Consider putting down artificial grass over real grass, easy to maintain plants, sprinkler systems and gravel in place of concrete.

Overall, it’s important to consider the return on investment for any upgrades or improvements you make to your investment property. Focus on upgrades that will add the most value and appeal to potential renters or buyers, and make sure to keep up with regular maintenance and repairs to maintain the value of your property over time.

If you have any questions about rental properties, the state of the rental market, or anything else, please feel free to give us a call on 5277 2727. You can also connect on our Facebook page too.

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