Top 5 renos to pump up rental yield

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Judith Taylor of www.propertywomen.com.au gives Your Investment Property the following tips for boosting your rental yields fast !

 

1.    Don’t replace cracked baths, basins or ugly tiles. Simply paint over with bath and tile paint. This paint is extremely durable and will make kitchens and bathrooms look like new at very little cost.

 

2.    Cleaning is an obvious but often overlooked way to smarten up a property. Hose down the outside, clean the windows, shampoo the carpets and scrub the walls. This will create a clean smell and a good feel for new tenants.

 

3.    Create an extra bedroom by using another room such as a dining room or the corner of a living room. For the cost of a wall or closing in a door, an extra bedroom can increase rent by $30 to $50 per week.

 

4.    Don’t throw out anything before checking if it can be repaired or reused.

 

5.    Paint is the quickest and cheapest way to make a property look fresh and appealing for tenants. Always use neutral colours so that it’s a perfect match no matter what colour furniture the tenant has.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

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