You can raise the rental income on your investment property, just by making a few, small improvements.
Put yourself in a potential tenant's shoes when looking at your property, and think about the things you look for in your next home.
First impressions count
First of all, make sure everything is clean and tidy, from the front foot path right through to the back fence. Not everyone is a green thumb, so low maintenance gardens are ideal.
If your property has been previously lived in, a fresh coat of paint can go a long way! Neutral colours are great as prospective tenants can envision their furniture in the clean spaces. If the carpets are older and stained, new flooring or carpets would look great and also remove any ‘musky’ smells from the property.
Small Upgrades, Big Result
With Adelaide's hot, dry summers and chilly winters, you might consider adding air conditioners to the property, and/or fans in rooms. Reverse cycles are best, so they can be used all year around to warm or cool the home.
A dishwasher can also increase the properties worth – no one loves dong the dishes after a long day!
Feeling secure at home is so important, so added security measures are attractive for prospective tenants, especially those with kids. You can add an alarm, security screens to doors and windows, or extra locks around the home.
Put Your Best Foot Forward
Anyone who's window shopped knows that professional photography is more eye-catching than your standard photos taken on a phone. A professional photographer considers the lens they use, and the lighting conditions to photograph each room in its best light.
If possible, advertise your property for lease before it’s vacant so that you’re not out of pocket while it’s waiting for a tenant to move in.
Employ a Property Manager
These are just a few of the things to consider when it comes to your investment property, and working with a Property Manager allows you to kick up your feet and know that your property is being looked after.
Property Managers live and breathe real estate and are always up to date with the latest market trends, often with knowledge of your specific area. They're there to ensure the property is advertised on platforms where they know tenants are looking, host opens, filter through prospective tenants, reference check, sign documents, conduct quarterly inspections and provide you with updates on your investment – just to name a few things!