Your investment property is just that - an investment. So how can you make your investment grow?
Here are some general rules to follow to increase the value of your investment property.
Quick fix
Did you know that you can easily add value to your property by keeping it modern and fresh? Quick fixes that can help do that include updating fittings and fixtures such as door handles, lights and cupboard handles, installing new blinds or giving your property a fresh coat of paint. These are all quick and inexpensive ways to freshen up your property and make it more appealing - and they are all budget friendly!
Invest money where it counts
If you are keen on investing money into your property then make sure to spend it wisely! Adding investment back into your property is a great way to increase the value of your property but you should always invest where it will add the most value. Features that will make your property more attractive include renovated kitchens and bathrooms, installing heating and cooling, investing in great built in storage such as wardrobes or storage sheds - or even installing solar panels to decrease overall power bills.
Keep up with maintenance
Poor maintenance is a common complaint of tenants - but it can also decrease the value of your property! Keeping up with the general maintenance of your investment property is crucial to maintaining and increasing the overall value. And tenants won’t always tell you when something needs to be repaired - regular inspections to make sure all is in good condition is a great way to keep on top of the maintenance.
Get great tenants
We all know it - great tenants look after their home, rental or not. Make sure that you find great tenants to rent your property - it's not as easy as it sounds though! A property manager is the best way to go about this task - from background checks to calling previous landlords, they will ensure all bases have been covered.
Invest in property management
Property management is a great way to keep your property in tip top shape - our property managers are on hand to handle any issues that may arise as well as to ensure regular maintenance checks are carried out. Investment properties can take time to look after properly - but they also require expertise to know what to follow through with.
Have patience
Any sort of capital growth takes time - it's a long term game and it’s important to have patience.
