You’ll be able to charge more rent with a well-maintained rental property
Many investment properties will charge rent based on what is vacant at one particular time. However, when your property is well-maintained and offers better value for tenants, you can comfortably ask for more rent. Potential tenants can see the value you offer and are more inclined to pay more to secure a suitable property.
There are some reasonably easy steps to show potential tenants they are leasing a well-maintained property. You can start by freshening up the wet areas of the home. This can mean replacing outdated or broken tapware, resealing showers, replacing the tiles, or adding new shower curtains.
Giving the property a fresh coat of wall paint between tenants is also an excellent idea. A freshly painted home draws people in and gives a new feel to an older home. Choose a neutral colour for the walls, such as white or beige. Sometimes, a freshly painted home can ask for an additional $10/week in rent, more than other properties in your area.
Other areas you can focus on include replacing any old or worn curtains for roller-blinds or blackout blinds, replacing carpets if they are heavily stained or damaged, and completing garden maintenance to allow additional light into the yard or home.
A well-maintained property will have a higher standing than others on the market; even if you don’t wish to pursue a higher rent, you can list the property at the same rate as others and secure a tenant faster than your competitors.