Top tips for investment property owners
Put emotions aside and think like a tenant. What do you want in a home?
In general most of us would have a similar check list – a safe location, a clean home, functional layout, well located near shops, transport and recreational facilities as well as schools if you have children.
So it’s fairly safe to assume a tenant would be looking for the same attributes in a home to rent.
Then try to imagine what sort of tenant your property will attract. For example, if it’s a small home ideal for a young couple with kids then ensure there are no sharp edges or unsafe features.
Perhaps it’s a ground level villa ideal for a retiree. If so, have an easy care garden, large and easy to use tap handles that even arthritic hands can use and a non-slip shower floor.
If it’s a place with a garden then always aim for street appeal. A tidy garden, cut lawn and easy care flower beds add visual interest yet don’t require lots of time to maintain.
Some jobs are easy to do yourself and cost very little in time, money and effort compared with the return.
This includes bathroom and kitchen grouting, de-moulding the shower recess and cleaning the oven til it sparkles if it hasn’t been tenanted before.
Fresh paint and, if the budget allows, new carpet or freshly polished floorboards as well as new curtains or blinds will really make a property shine. A well maintained and clean property often attracts better tenants who are more likely to look after your asset.