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Rental renovations to attract top tenants
GREG HARRIS
CEO of Chas Everitt Property Rentals
NEW FLOORING S
o the lease ended, your tenant left and now it’ s time to advertise your rental property again. But before you do, you may want to consider doing something more than the basic cleanand-repaint work in preparation for the next tenant.
It might be worth making some bigger home improvements now, even if there is no immediate opportunity in your local market to raise the rent. There would certainly be an advantage, for example, in being able to attract better quality tenants – the kind who always pay their rent on time, look after your property as if it was their own, and are becoming increasingly difficult to find in the current economic climate.
And if that is what you aim to do, you should know which renovations are most likely to increase the appeal of your property. These include:
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Nothing says“ dated” like scuffed floors or old carpeting, no matter how clean it is, and installing new low-maintenance tiles or wood flooring throughout will immediately give the home a more modern and attractive look. Alternatively, if there is parquet flooring under the old carpet, it is well worth having it restored to its original gleaming condition.
NEW LIGHTING
No matter how well-located your property is, if the lighting doesn’ t do it justice, you could be sinking its appeal. A bright home is always more inviting, so get rid of old fixtures and dim globes and install some modern fittings and high power LED or long-life globes. You should also think about some additional over-counter lighting in kitchens and bathrooms. 24 JULY / AUGUST 2018 SA Real Estate Investor Magazine