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