1. Engage the BEST Property Manager

Without doubt, a stellar Property Manager is first and foremost the best way to add value to your rental property. They can give you the best advice specific to your situation, and based on market knowledge, can recommend the best ways to maximise your returns without overcapitalizing. They are also best positioned to know which of the tips below will add perceived and potential value to your property in the eyes of future tenants and buyers.

2. A Fresh Coat of Paint

Fresh paint, inside and out, will do wonders to spruce up your property and have it looking fresh, clean and cared for. Ideally, remove any wallpaper, colour feature walls and repair any cracks or peeling paint.

Light neutral paint colours are a no brainer because they are timeless and brighten up any space. A blank canvas is also ideal for prospective tenants to be able to imagine how they can make your house their home.

Most importantly, a freshly painted property is high on the wishlist of many prospective tenants, and it sets a benchmark for the condition report at handover. Tenants will take greater care of the property knowing there were no scuffs or marks when they moved in. Be sure to keep any leftover paint too, this makes any touch ups much easier.

3. Landscape

A well-kept garden makes a great first impression. Neat weed free garden beds with thriving drought tolerant flowering plants and creepers look much nicer than weed-ridden areas amongst unshapely shrubs. Pops of colour and lovely scented blooms create a beautiful calming and welcoming environment too. Low maintenance neat designs are also a good selling point for busy people who are time poor but enjoy having a garden.

4. Create an outdoor living space

Aussies love the outdoors and creating an outdoor living area is one of the best ways to add value and potential to your property. A small decking, a simple pergola or some well-placed pavers will hint at summer barbeques, outdoor games for the kids and al fresco entertaining with family and friends. A relatively small investment will instantly add more perceived value.

5. Flooring

Scratched or worn floorboards? Frayed or stained old carpet? Chipped tiles and grotty grout? Ugly or damaged flooring is off-putting for prospective tenants. Replacing old or worn flooring and repolishing floorboards makes a huge difference to the look and feel of a property, and for a small outlay, will make a huge difference to its value.

6. Appliances

Never underestimate the value of good electrical appliances! Post-pandemic, Aussies are spending more time at home than ever, and tenants will pay a premium for well equipped kitchens and laundries with modern energy efficient appliances. Dishwashers are a must, and a clean and modern oven and cooktop. These items don’t have to be the exxy European brands, you can pick up some new well priced items that will pay for themselves in no time. A couple of well-considered creature comforts such as ceiling fans and good quality blinds are a good investment too.

7. Add more Storage

You can NEVER have too much storage! Particularly in heritage properties, to give your property an edge it’s always a good investment to build in as much storage as possible. Consider built in wardrobes, bathroom and kitchen cabinetry and shelving, or even a storage shed. Tenants will happily pay more in rent to avoid the inconvenience and additional cost of off-site storage.

8. Update old tapware

There are two distinct advantages to replacing old taps. Firstly, installing modern tapware will mean better efficiency by lowering water usage and the cost of bills. Secondly, new sleek mixer taps give wet areas a shiny new look for a relatively small investment. It’s a win-win!

9. Update old handles

Windows, doors, cupboards and drawers – if any latches or handles are loose, corroded or faulty, replace them with more stylish modern fittings. This is a quick and easy task that can completely transform and improve the aesthetics of the home.

10. Be pet friendly

Last but certainly not least, it pays to be pet friendly! Aussies love their fur babies and finding a pet friendly property is a big drawcard for tenants. If you are happy to accommodate pets (and this is entirely up to you), offering hard floors, secure fencing, and a cat or doggy door to the backyard will be a huge advantage. Keep in mind Consumer Affairs updated laws regarding pets in rental properties from 2 March 2020. Essentially what this means is that landlords can only refuse pets with approval from VCAT. Tenants must still ask for permission to have pets, and it is your right to seek a ‘pet bond’.

A seasoned Property Manager will understand your position on pets, regardless of what this may be, and manage everything accordingly to avoid any unnecessary trouble.

We welcome the opportunity to help you get the best out of your investment.

We can point you in the right direction with our expert advice and market knowledge.

Not happy with your current Property Manager?

Good news! It’s easy to transfer the management of your property to Schickerling.

We do everything without you needing to do a thing.

And the best part? It doesn’t cost a thing.