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Five property improvements to maximise your rental return

Finding a tenant who pays their rent on time and takes care of your property as if it were their own is a landlord’s dream. But to attract these high-quality tenants, you need to make your property look and feel high-quality.

From installing air conditioning to creating an outdoor living space, here are five simple home improvements that will boost your rental returns and help you attract top-tier tenants who will treat your house like a palace.

1. A fresh coat of paint

They say change is as good as a holiday, so a fresh coat of paint inside and out will give high-quality tenants an inviting reason to choose your property.

A fresh new look can really brighten the interior while a splash of exterior paint can make the home look classy and modern, setting a standard tenants will strive to maintain.

2. A comfortable outdoor space

Rental properties can often be very basic in their amenities, with simple furnishings and low maintenance gardens. But if you take the time to add an outdoor space1nytimes.com that tenants will truly enjoy, then your property could stand out and even command a higher fee.

Verandas and outdoor entertainment areas are a great way to add value to the property and showcase the type of lifestyle that’s possible there – a deciding factor for many discerning tenants.

3. Reliable air conditioning

In our increasingly hot Aussie summers, a ceiling fan just doesn’t cut it anymore. Good tenants expect a certain standard of living if they are going to pay top dollar and take care of the place well.

By installing air conditioning, such as a reverse cycle system, you will bring a better level of liveability to your rental property, making it much more competitive in the rental market.

4. Brighten windows with simple furnishings

One of the first things prospective rental tenants often notice is the atmosphere inside the property – how it looks and feels.

One of the best ways to improve the character of your place is to replace any old curtains and blinds with new window furnishings that look smart and modern. This simple change can dramatically transform the feel of your rental property and could improve its value.

5. Improved interior lighting

The way your rental property is lit can also greatly influence its ambience. Cheap lighting fixtures may save you money initially, but they can also create a dull, washed-out atmosphere that’s not attractive to high-quality tenants.

By installing bright, warm, modern lighting fixtures, your rental property will instantly become more appealing, and will show just how homely the space can be.

Higher standards bring better tenants

Sprucing up your rental property with a few strategic improvements can add significant value to the rental price, making it much more appealing to high-quality tenants. These improvements don’t have to be expensive but could significantly improve your rental returns.


Disclaimer:

Insurance issued by AAI Limited ABN 48 005 297 807 AFSL 230859 trading as Vero Insurance. In arranging your insurance, Terri Scheer Insurance Pty Ltd ABN 76 070 874 798 AFSL 218585 acts under authority given to it by Vero Insurance. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Contact Terri Scheer on 1800 804 016 or visit our website at www.terrischeer.com.au for a copy.

The information contained in this article is intended to be of a general nature only. Terri Scheer does not accept any legal responsibility for any loss incurred as a result of reliance upon it. This article has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it. The Target Market Determination is also available.

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