Hi All!
Just brought a neat little unit in a great location. Problem is the unit has these wall paper that I think well limited my rental market, especially for the ‘bloke’ since it has flowery pattern. Has anyone have problem renting out property with flowery wall paper??
Also the kitchen is abit ” cheap old style”, still in good-enough condition. I wanted to put in a new kitchen but got a lot of objections from family member saying “Don’t reno unless you have to!”
Has anyone been in these type of situation? I need advice before taking any major step.
Thanks
Aleta[smiling]
H Aleta
We have just painted our IP and one room had wall paper. We did not have time to strip the paper so we painted over it. It looks good but eventually we will have to strip it off.
As for your kitchen if it is functional why not give the cupboards a coat of paint or just replace the cupboard doors.
Good luck.
Ros
Aleta
Before stepping into any reno on a rental property, ask yourself how much is it going to cost and then how much will it return. You may be better off dropping the rent by $5/week to get a tentant than spending $10K on a new kitchen to either increase your rent by $10/week or just secure a tenant.
We have rented houses with both flowery wallpaper and flowery carpet. While my husband didn’t love it, we rented it for the location, which you say is great.
Also, if you’re going to renovate your property, it may be worth waiting 12 months as this won’t be tax deductible now as it is considered to form part of the asking price. Check with your accountant on this.
Hope this helps
Alison
Thanks Ros and Alison for you reply,
I now rethink how I would add value in a cheaper way like changing door knobs and repainting the kitchen and bathroom. As for the wall paper – I properly rent it out until it need replace then I just stripe it off and repaint the whole house.
cheers….
Aleta
I’m in the same situation:
1. bought the house fairly run down (cosmetically it needs a kitchen and bathroom facelift.
2. IP is in great location to shops and train and freeway.
3. We are doing it up for the upper rental market. New hard wearing kitchen and applicances and new bathroom and painting and car port. Cost will be about $15-18000. Will bring rent from $220 week to $260 week at least. plus the extra capital which we will access to but the next IP…….We hope to get good tenants that will want that bit of extra and then keeping them happy they will hopefully stay on witout much hassle or fixer uppers in the near future.Snowflake
RE: Painting over Wallpaper.
There IS a “Renoavtion God” out there and you will one day be praying to him for help. He Will take your painting over wallapper into account when you are praying for him(or Her) to help.Stripping wallpaper after someone has painted it is the worst job, people who do it are “Bad [satan]People” just ask the poor person doing the stripping. In some cases you have to replaster the walls to really fix up the damage.
We/one of my workers “Matt” has just spent 2 months stripping walls and replastering a Bellevue Hill House with painted wallpaper just because the client (and his father) desided to save a few Bob last time the house was painted. Basicly doubled the cost of the job!
True story.
Modernity Investing
Email MeI agree – painting over wallpaper is BAD [angry2]. If the wallpaper starts peeling, it looks 10 times worse than the original wallpaper on its own. Why not just get rid of it now – you can hire steaming thingies from hire places that make the job much easier. Or, if your budget allows, hire someone to do it for you.
As a tenant myself, I always like to move into a place that is freshly painted – but hey, that’s just me.
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