Feeling Tired And Worn Out? What About Your Investment Property?

We can all feel this way at dif­fer­ent times, but have you thought about your invest­ment prop­erty lately?

Your invest­ment prop­erty can start to get worn and tired look­ing over time. For that reason it needs reg­u­lar main­ten­ance to keep it look­ing at its best.

Some­times land­lords rent out the prop­erty and for­get about it once it’s ren­ted, as long as the rent is com­ing in. How­ever, you have to remem­ber that all prop­er­ties require a bit of TLC in order to remain in great condition.

Most people who have inves­ted in rental prop­erty have done so think­ing of it as a pass­ive invest­ment rather than a busi­ness. As such they don’t pay atten­tion to the detailed main­ten­ance of their prop­erty or not aware of what needs doing and how often.

It’s import­ant to spend time and money on giv­ing the prop­erty a well needed make-over or even just a simple tidy up from time to time. The extra expense will be com­pensated by the pro­longed dur­ab­il­ity of your prop­erty. The added cost asso­ci­ated with put­ting in qual­ity appli­ances or taps, for example, is com­pensated by how long they will last.

Also, a well-presented prop­erty will more likely achieve a higher rent. You are also more likely to attract a qual­ity ten­ant who will take care of your property.

As an investor it is import­ant to budget and plan to update the prop­erty every 4–7 years, depend­ing on the nor­mal wear and tear that has taken place. This can include things such as:

  • Replace­ment of carpets
  • Replace­ment of win­dow coverings
  • Internal paint­ing
  • External paint­ing (if applicable)
  • Replace­ment of appli­ances such as dish­wash­ers, dry­ers, ovens and stoves
  • Tidy­ing up gardens

Last Month Renal Market NSW All items within an invest­ment prop­erty depre­ci­ate in value over time. Once the item has depre­ci­ated com­pletely there is no longer a tax advantage.

With the end of the fin­an­cial year fast approach­ing – now is a great time to con­sider the needs of your invest­ment property.

We recom­mend that you con­sult your account­ant or tax depre­ci­ation agent to seek fur­ther advice on the right tim­ing for home improvements.

Want to know the lifespan of your repairs? Click here to find out your Prop­erty Lifespan Guidelines?

Em@il Update Do we have your cur­rent email address?

Com­mu­nic­at­ing with our land­lords can be just a click away.

If you are not receiv­ing your end of month state­ment or gen­eral cor­res­pond­ence from our office by email, please con­tact us to update your email address.

About 

Jhai is an award win­ning Inter­net Mar­ket­ing Real Estate Agent for Eld­ers Toongab­bie and Kings Langley. After run­ning his own inter­net mar­ket­ing busi­ness he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to mar­ket them­selves online. Jhai is now fixed on one goal. To teach real estate agents that they can mar­ket online so much bet­ter than they cur­rently are.

Since then he has been con­sist­ently quoted in the Sydney Morn­ing Her­ald and Real Estate Busi­ness online. He is a reg­u­lar guest blog­ger on TheHomePage.com.au, shar­ing his expert­ise of mar­ket­ing aspects for the Real Estate Industry. His biggest pas­sions are his wife, mar­tial arts, dogs and most of all property.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia