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How Can I Add Value to My Property Before Renting It Out?
Simple changes can have big results. In this article, we'll explore some easy and cost-effective ways to add value to your property before listing it for rent. By implementing these updates, you can maximize your property's potential and attract the right tenants for your home, without blowing your budget.
Freshen Up the Walls
A fresh paint job should never be underestimated. While crisp white walls are classic and offer a clean palette that will appeal to potential tenants, neutral shades add warmth and style. It’s best to avoid bold colours or strongly patterned wallpaper, however, to ensure you appeal to a wide group of prospective tenants. Add interest to neutral walls with artwork. Prints bought to fit readymade frames are an affordable option, and can look fantastic when hung together in a gallery style.
Add Value With Flooring
New carpet is luxurious and in many cases it is likely to be worth the investment. Classic wooden floorboards are another great option, and low-cost, timber-look laminate will create a clean, modern look at an affordable price point. If your current carpet is still in good condition consider a professional cleaning job to get it looking as good as new. Fashionable rugs are another easy and effective option for freshening up the look of your home. Opt for generously-sized rugs to create a style statement.
Kitchen and Bathroom Tricks
A modern kitchen is a must-have item on many tenants’ wish lists. While a full renovation can be costly, there are many other ways to update this space. For major impact replace benchtops and have your kitchen cabinets resurfaced by professionals. For a simple update replace kitchen hardware (such as door handles and taps) and consider installing a modern splashback. You’ll be amazed at how effective these low-cost updates can be. The same principle can be applied to bathrooms. A new vanity, resurfaced cabinetry or modern tapware will go a long way towards updating this space.
Create an Outdoor Living Zone
New Zealanders love the outdoors. Even if your property only has a small outdoor area it is important to make the most of it. Style this area with modern outdoor furniture, bold cushions, luxurious outdoor beanbags and plenty of greenery. Many of these items are available at low-cost retailers such as K-mart.
Keep it Clean & Uncluttered
If it's a furnished property, the easiest update of all is to de-clutter, and give your property a thorough clean! It’s an obvious point that your property should be neat, tidy, and looking its very best for photography. Tenants need to be able to see the space and imagine their own personality in it.
If you’re looking to buy a new investment property or are after some straightforward and practical advice on property management issues, contact the Crockers Property Management team at email@example.com