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What are some easy and affordable ways to refresh my investment property in between tenants?

When a tenant vacates a rental property, it is usually a smart time to make some improvements. However, where you start the improvements depends on what aspects of the apartment or house need freshening up.  

 

If it’s a house, street appeal is essential. So, some simple hacks will involve pulling a few weeds out of the garden, tidying up the edges around flower beds or painting some fences. Even a minor job such as painting the front door can add to the street appeal of your property, especially if you’re on the lookout for a new tenant. 

 

Moving to the property’s interior, why not consider painting tired-looking bathroom and kitchen tiles before paying for a new replacement? There are even paints that will bring an older bathtub back to life. At Bunnings, a 500 ml cab of White Knight White Tub and Basin Paint will set you back less than $100, which is significantly cheaper than buying a new bathtub. 

 

That said, rather than paining an old vanity, replacing it with a modern update will probably help attract more tenants to your home. A quick look online will reveal it’s possible to find a 900 mm bathroom vanity with washbasin from $279. If you’re prepared to try eBay, you might find suitable vanities that significantly cheaper than those offered by the online specialists. Even a new mirror can change the presentation of an older bathroom. 

 

In the kitchen, the most natural and cost-effective hacks involve updating cupboard doors and door handles. You could also consider changing the light fittings with the help of an electrician.

 

Also be sure to rid the property of curtains, which are very last century. Plantation shutters range in price from $2,200 to $3,600 for timber and aluminium shutters depending on whether they are custom-made of not, according to Shutters Australia. 

 

Carpets and paint have an end date. If the carpets look a little threadbare, then they’ll need to go. Likewise, if the paint is looking patching or peeling, then it will be time for a new coat. If you can do the painting yourself, this will save you considerably. As for the cost of a new carpet, consumer advocate website Choice says a nylon pile can range from $125 up to $300 per ‘broadloom metre’. A broadloom metre is 1-metre x 3.66 metre. If the budget can be extended, wool carpets range from $140 to $500, advises Choice.

 

For more information about the benefits of sprucing up your investment property, contact your local Raine & Horne Property Manager for more tips. 

 

By Maria Milillo, Business Support Manager, Property Management, Raine & Horne

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