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The Top 6 Techniques to Improve the Rental Value of Your Home

When you’ve purchased an investment property, it’s important to maximise your return by utilising all of the space within the home.  Not only will you attract more prospective renters, you’ll also work to increase the value of the property. Small, simple improvements can make a massive difference visually and on the property value as a whole — so consider using the following six techniques to improve the overall feel of your rental property.

 

 

1) Update fittings and fixtures
The kitchen and bathroom are major selling points in your rental property — so make sure they make a lasting impression. While it doesn’t cost a lot to update the fixtures, seeing a newly updated space gives the tenants comfort knowing you’ll take care of the property should an issue arise.

 

2) Allow natural light
Windows can be a home’s biggest selling feature, yet they are often forgotten when renting a space. Make sure to highlight all windows with proper fitting coverings or blinds (which can be included in the rental or removed). When showing the property, open the curtains or coverings to allow the most natural light in to the space — it will make the room feel larger and more spacious. If a room lacks large windows, strategically place a mirror on the wall to reflect the light into the space.

 

3) Stage the home for viewing
There is nothing worse than walking into a home and trying to visualize what it might look like furnished – even if the property is currently empty. That’s because people enjoy seeing a home for the total benefit it is, not an empty void. Before you show the home to renters, consider creating a staged environment, so people coming through the property are able to visualize themselves living there.

 

4) Clean everything thoroughly
A little bit of elbow grease can go a long way — especially if you’re trying to rent the space. To ensure your viewings go well, make sure the entire property is clean, organized and ready for moving in. This way, your renter will know the property is going to match their standard, without having to question whether you’ll clean the property before they get the keys.

 

5) Maintain the landscaping
Make sure the plants, grass and any green space are well-kept before you have potential renters viewing the property. Although it might seem like additional work, many individuals are looking for low maintenance properties that are well cared for. If you have any gardens or flower beds, plant perennials (plants that come back each year).

 

6) Buff, clean and refinish the floors
While you might not mind the occasional stain in your rental unit, prospective renters are looking at their next “home”. Make sure you professionally clean any carpets within the home to remove stains and odors. Likewise, look to have the floors refinished and waxed — including the baseboards. Any carpets which are severely worn or discoloured should be replaced and updated. Remember that your goal is to find an individual who is able to appreciate the fine details (and maintain them while renting the property).

 

 

This information is of a general nature only and neither represents nor is intended to be specific advice on any particular matter. We strongly suggest that you seek professional financial advice before acting.