Thursday, November 1, 2012

Tips to Bullet Proofing Your Rental Property!

When purchasing an investment property there is sometimes a need to make it more suitable for rental purposes. To ensure you are able to retain good tenants and also save money on repairs and maintenance we have listed some tips below!

1. Gardens and Lawns

As a tenant the gardens aren't always at the top of the to do list and gardening isn't everybody's cup of tea. Low maintenance gardens are becoming more and more popular so it may be time to remove plants that may be considered high maintenance. Plant hardy native plants and shrubs that require little watering and pruning. Lay wood chips/mulch in garden beds to reduce weeds coming through. If the property has extensive gardens it may pay to include gardening or lawn maintenance in the rent. This can increase your weekly rent, is tax deductible and more importantly ensures your lawns and 
gardens are kept in good condition.

2. Painting

Quality paint is an essential in a rental property. Never be tempted to cut costs by using cheap paint whether it be for the interior or exterior. Even the easiest of scuffs and marks can be difficult to wash off cheap paint and interior walls can quickly begin to look worse for wear with fading and peeling. Purchasing a low sheen wash and wear paint that can handle everyday living. Unsightly walls can turn off a good tenant after all a good tenant will take pride in their new home and treat a property as if it were there own.




3. Flooring


When it comes to flooring purchasing carpet on the cheap can be a very costly expense. Speak to your local flooring specialist before purchasing any carpet as the wrong type could mean replacing flooring earlier than expected. High traffic areas such as walkways can wear very quickly if the incorrect type of carpet is laid. Light coloured carpets can make traffic wear and even the smallest of marks stand out. However be careful not to select a colour that is too dark as they can begin to look faded and tired especially in rooms that get a lot of sunlight. Play safe and stick to neutral colours.
Wood laminate flooring is an effective but low cost alternative to hard wood flooring. Hard wood flooring is more susceptible to scratching and will show wear especially in heavy trafficked area. Using felt stoppers on furniture is one of the best ways to stop scratching on both wood laminate and wood flooring.

4. Blinds

Cheap blinds can be a nightmare and it can be easier to replace rather than repair. Plastic and aluminium Venetian blinds can have a very short life span. When peeking out the window to see who is at the door it is easy to bend or crease the aluminum blinds. Selecting blinds that are easy to clean is the best option. Speak to a reputable blinds company for their suggestions on the blinds that will suit the needs of your rental property to ensure they will still look great in a few years time.





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