Known for our personable approach and in-depth knowledge of the real estate industry in Australia, Richardson & Wrench is proud to have been featured in the recent guide from Bupa Landlords Insurance, Renovation Hints & Tips for Your Investment Property. With over 165 years of industry experience, R&W is an expert in prepping investment properties for sale or lease.
Our agents meet the needs of owners and landlords, renters and buyers across Australia, with a focus on our customers and a passion for matching the right people with the right properties. As a result we know what renters are looking for when they are perusing properties.
When asked by Bupa for our advice on updating a rental property, we advised landlords to focus their efforts on the interior. If this is your first investment, it’s likely that you’ve purchased an apartment. Beyond making sure the exterior is clean and tidy, there’s unlikely to be much more maintenance required there.
Updating an interior in keeping with contemporary trends, will attract renters more quickly and boost rental yields. Beyond a fresh coat of paint (in neutral colours), consider going all out and installing a new bathroom or kitchen if these areas are looking tired. Although this may require a considerable outlay initially, the money is likely to be returned by way of extra rent and then some.