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C&G's Guide to Renovating for Rental
If you’re a landlord, one of your main priorities is making your property as appealing as possible to potential tenants. In this C&G blog, we unpack the easiest ways to improve your property’s chances of being leased out for the best return!
Air-conditioning and heating
With Melbourne weather being, well, Melbourne weather, having air-conditioning and heating installed in a property is usually right at the top of a prospective tenant’s list of non-negotiables. It might seem like a big investment now, but it will pay dividends and add long-term value to your property.
Move-in ready condition
First impressions count! Before your property goes on to the rental market, it’s essential to make sure all necessary repairs have been carried out, particularly painting and carpet cleaning. Ensuring the property is presented as somewhere a tenant can call home will increase your chances of a long-term tenancy, and your tenant eventually returning the property in the same condition as when they first signed the lease.
Install working appliances
There is no bigger headache for both a landlord and tenant than moving into a new property and finding that the stove doesn’t work, or the shower pressure is too low, or there’s no hot water. Get ahead of these potential problems early by doing a thorough check of the property before opening it up for inspections to ensure that everything is good to go before you move a tenant in. This also includes installing an NBN box if your property is eligible.
Another big selling point for potential tenants is whether the property has lots of natural light, particularly in the living area. Natural light makes the home feel spacious, bright and welcoming to newcomers. There are plenty of easy ways to increase natural light in the home. Obviously, you can increase the size of the windows, but you can also do it with a fresh coat of paint. Instead of using brilliant white on the walls, which can make the area feel cold, go for a warmer shade with a satin finish. Off-white, for example, will reflect sunlight. An even easier solution is to paint your ceilings one or two shades lighter in order to create height and space in the room.
Looking to put your home on the rental market? Chisholm and Gamon are Bayside’s leading real estate agency, and our team can guide you in the right direction. Reach out today!