Renovating a rental property can be a daunting task, but it doesn't have to be a total nightmare. As a landlord, you want to ensure your property is up to code and attractive to potential renters. Here are a few tips to keep in mind as you embark on your renovation journey:
Don't be cheap: It's tempting to go for the cheapest option when renovating a rental property, but remember, you get what you pay for. Cheap materials and shoddy workmanship will only lead to more headaches down the road. Invest in quality materials and contractors who know what they're doing.
Know your limits: As much as you may want to channel your inner Bob the Builder and do everything yourself, there are some things best left to the pros. Don't attempt electrical, gas, structural or plumbing work unless you're qualified and have all the appropriate certifications in place. Trust us, your tenants will thank you.
Don't forget the little things: It's the little things that can make a big difference in a rental property. A fresh coat of paint, updated light fixtures, and new hardware on cabinets and drawers can make a world of difference.
Keep it neutral: While you may love the idea of a bright pink accent wall, it's important to keep the overall design of the property neutral. This will appeal to a wider range of potential renters and make it easier to match furnishings.
Embrace your inner designer: Renovating a rental property is the perfect opportunity to let your inner designer shine. Get creative with lighting, artwork, and decor to make the property stand out.
Take a break: Renovating a rental property can be stressful, so it's important to take a break every now and then. Go for a walk, enjoy a cup of coffee, or binge-watch your favorite show. You deserve it!
Remember, renovating a rental property doesn't have to be a total nightmare. With a little creativity, some quality materials, and a few deep breaths, you can transform your property into a dream rental. Good luck, and may the renovation gods be with you!
Luke Jorgensen - Lush Property
Tags - Property Investment; Property Development; Renovation; Valuation; Valuer; First Home Buyer; Buyers Agent; Buyers Advocacy