To all the landlords out there, how often do you refurbish your property?
I'm talking refurbish outside of normal maintenance and repair (e.g. new paint, fresh carpets, etc.)
Have you been able to successfully increase the rent after refurbish?
How often do you refurbish your rental property
hotmustardsauce on 26/02/2018 - 11:57
Comments
lol if you are like 99% of the little landlords in Australia, once every 30 years. You'll also fight tooth and nail not to do any repairs.
Lol so true even if negative gearing exist for that very reason…to encourage landlords to keep their investment property up to standards.
Just somewhere along the way people found other use for negative gearing 😉
Hahahahaha
When my tenants said the kitchen was falling apart i put new hinges on the cabinets and the kitchen wasn’t falling apart anymore
I increased the rent by $20 a week as well
They are still there, and have just renewed the contractI was referring to refurbishments not maintenance.
I guess no one here is of the view that if you invest in your property that it will translate to better rental yields?
Only if you have excellent tenants. IMO good tenants are few and far between (my level of cleanliness doesnt equate to other peoples standards).
Not really, generally because it’s hard to put in 10k worth of returbs and then add 193 bucks a week more.
Logic would dictate whenever items need replacing…not set intervals? Or am I wrong?
If it's a non-urgent repair, I'll take my time researching for the best deal.
I haven't increased the rent in more than a year. :/
You should look at the tax year - you should actually repair around May so you can claim it back on tax (depreciation schedules are also handy).
Exactly..only when its required. If a kitchen is in dire straits put in a 5k kitchen (all poly, no extra features like soft closing). Paint when the place looks dowdy and same with carpet. In fact never carpet! Tile it all in a neutral tone but agree with Boom… you will know when its required. People like nice places but the rent is totally dependant on the area, level of stock on the market and features of the residence. A new kitchen and bathroom may add $40-60 per week, carpet maybe $10 but it all equates to ambience
Whenever I get a notice from the health department.
or shortly after it burns down, whichever comes first.
(we did need a kitchen refurb after a stove caught on fire thanks to grubby tennants)
Whenever job need to done.