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How To Become A Landlord - Articles

Ways to add value to your investment properties

Date: 30/05/2012

paint your house

Achieving high yields with your investment properties means a continual effort to maintain tenant appeal and to add value to your investment properties.

One way to accomplish this task is to regularly modernise the facilities in your house or unit.

The kitchen and the bathroom are typically the rooms that buyers and renters notice first, and the state of these rooms factors into their decision to rent or purchase.

Contemporising these rooms also incurs the greatest cost – plumbing requires specialised installation and bathroom and kitchen fixtures are typically quite expensive.

Ways to add value to your investment properties…

Regular maintenance

Implementing a schedule of regular maintenance checks will do well to avoid surprise repairs that are cumbersome and costly.

Replacing outdated fixtures once in a while, rather than all at one time, will mitigate costs and serve to keep your tenants satisfied with a continuous show of improvement.

A lick of paint and inexpensive upgrades like light fixtures and door knobs makes any room brighter and adds a touch of sparkle that keeps it firmly in the present.

Major upgrades

Replacing fixtures like sinks, toilets and showers is sometimes necessary to modernise and stay competitive in an upmarket area.

While installation costs incur a bulk price tag, you will likely get it back within a year or two, by way of higher rental yields.

You will likely also save on energy costs and water bills resulting from the efficiency of advanced technologies.

The important thing is to budget wisely for any renovations or upgrades you decide to implement.

Keep track of your spending to avoid long-term loss in revenue.

Profile photo of Steve McKnight

By Steve McKnight

Steve McKnight, the founder of PropertyInvesting.com, is a respected property investing authority as well as Australia's #1 best-selling business author.

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