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5 ways to make your investment property more ‘rentable’

By Danielle Banton

A home that is not is not your primary residence can often appear just a little unloved (especially if vacant even for a short while) – this can often put off potential tenants. Bringing in top rent means that you must maximize tenant appeal.

Homes that are run down, aesthetically unpleasing or that have outdated kitchen appliances for example will likely be more difficult to rent than those in first-rate condition.

Here are a few professional tips from Property Manager Heidi Wesely at Ray White Double Bay (rwdbgroup.com/agent/heidiwesely/)‎ on how to increase tenant appeal:

  1. Apply a fresh coat of paint. Painting is an inexpensive way to give the entire home a lift. Choose a light neutral shade, such as grey or off-white, which will work well with various types and colors and furniture. Light colors also help to make rooms feel open and larger.
  2. Install new flooring. Cosmetic upgrades, such as new high quality laminate or solid wood, can help to improve the impression of the entire home. A luxury home with a dirty, worn out carpet, for example, can be unappealing to renters and can detract from the attractiveness of the property. Flooring is best in a neutral color. If the floors are hardwood, consider having them refinished or polished.
  3. Maintenance. It may be difficult to rent a space if some of the electrical outlets are of no use or if plumbing regularly gets backed up. Also check for small details, such as windows that may be stuck shut or lighting that is not useable.
  4. Budget permitting, install new kitchen appliances,such as a refrigerator, stove and oven. The cost of buying new appliances will likely be worth the initial cost in order to attract dependable and long-lasting renters.
  5. Where possible, allow pets. As we all know Sydneysiders love their pets, renters who have pets have difficulty finding a home. Therefore, allowing pets instantly gives you a larger pool of tenants to choose from. A security deposit will likely cover any damages that the pet may cause.

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