a unit when you want to do more than general maintenance. You want to make the property better. These improvements could range from retiling to repainting, upgrading the kitchen counters or putting in new cupboards.
If you can, try to make these improvements when the property is vacant. No one likes living in a construction site, even if it is for their benefit! But remember to factor in the loss of income as you may not be earning rent for a month or even a few months.
As I’ ve mentioned, property maintenance or renovations do not have to cost you an arm and a leg. I’ ve given some ideas below if you’ d like to improve your property investment with a tighter budget:
• Replace the cupboard and door handles with modern handles.
• Replace the electrical sockets and light switches with modern ones.
• Modernise the light fittings.
• Put a nicer toilet seat on the toilet.
• Add modern towel rails or a basin cupboard to the bathroom.
• Keep in mind that access to the internet is a basic need these days, so be sure to install a fibre point in your rental unit. You can often do this at no cost or at a very low cost.
32 OCT 2021 SA Real Estate Investor Magazine