Simple Ways to Maximise your Rental Investment
When it comes to making changes to maximise your rental property investment, many landlords believe it will be an expensive exercise. Not so, says RMA CEO Andrew Graham.
“Taking pride in a home is an investment in the tenant’s happiness, as well as the look of the property,” he says. “Ultimately landlords want tenants who will care for their property like it’s their own. Making affordable changes that provide visual impact will be appreciated by your tenants and improve your property. It’s a win-win for everyone.”
Ready to take the plunge? Here are some affordable (and tax-deductible) changes for happy tenants and a thriving property.
Even the smallest change to a bathroom can make a big visual impact. Old grouting can make tiles look grubby, but luckily DIY regrouting is simple using products available from the local hardware. Replace old toilet seats and shower curtains and add a statement-making mirror for a bathroom with a luxe feel.
As the heart of the home, the kitchen should not only be functional but stylish too. Replace old lampshades, kitchen faucet, and dated cabinetry doors with modern versions. All are swaps that can prove transformative and are guaranteed to give your old kitchen a contemporary edge.
Lick of paint
Paint your home in a classic timeless shade like white or cream. Light colours are preferable to dark for a fresh spacious feel that won’t date. It is also a colour scheme that provides a neutral background for any style of furniture and décor. If not redoing walls, simply paint moulding and trims crisp white for a polished finish.
Dated and mismatched hardware can make a home look tired. Replace the old with sparkling new versions. Use knobs on upper cabinets and pulls on lower drawers for a cohesive look.
Floor-to-ceiling drapes are a cost-effective way to add instant architecture to a space and heighten a sense of cosiness. Hanging higher and wider than your window's dimensions conceals a blank wall or cheap window frame. It also allows eyes to flow from floor-to-ceiling making the room appear more spacious. Consider linen-look curtains in rustic shades from Ikea or Spotlight. To avoid screwing hooks into walls, simply hang from a spring-loaded curtain rod from your local hardware store.
Nothing adds ambience like lighting. Install stick-on LED strip lights underneath kitchen cabinets and replace dated light shades with crisp paper ones. Remember, cheap light bulbs radiate a harsh shade of white, so swap for warmer yellow versions for a calm ambience. + swap out switch covers too… If your switch covers are yellowing or cracked, replace them with new ones. It’s a small and inexpensive change for maximum impact.