Comfort, low-maintenance and value for money are all things that tenants look for in a rental property, but what can you do as a landlord to ensure your investment property embodies all of these qualities?

If you are unhappy with your current rental return, making some property improvements could mean a substantial increase to your rental income – and can result in some great deductions at tax time!

Here are our recommendations for making your rental property attractive to high quality, long-term tenants and add value to your investment.

Air-Conditioned & Comfortable

In Queensland, we live in a climate where air-conditioning is non-negotiable for many of us. So much so, that tenants often will prioritise properties that have air conditioning in living areas as well as bedrooms. In order to improve the desirability and perhaps rental income of your investment property consider:

-Installing reverse cycle air conditioning units in all living spaces and at least Master Bedrooms.
-Replacing old air conditioning units, with newer more energy efficient models.

In some cases, the introduction of air conditioning could provide up to an extra 10% to an advertised weekly rental price!

Save with Solar

Aside from the positive environmental factors, installing solar power in your rental property can be attractive to potential tenants for the financial savings. A cheaper power bill can set your property apart from the competition, with 75% of renters saying that they would pay more to live in a property with solar. Aside from being a drawcard to tenants, solar panels are likely to increase the value of your property with statistics showing that homebuyers are also more attracted to energy efficient properties. The solar rebate can be redeemed for both your personal home and your investment property, as well as being able to claim solar panels as a tax deduction.

Low Maintenance Lighting

LED lights are energy efficient, cost-effective and have a life span of up to ten years, producing over 40,000 hours of light. The installation cost of LED lights has dropped dramatically in recent years, adding to the appeal for landlords to install them in their rental properties. They are also more aesthetically pleasing and safer than incandescent bulbs as they do not generate heat when turned on nor do they emit toxic materials. Bright light creates the illusion of space, making rooms more visually appealing to prospective tenants and offering the flexibility of being able to control the level of brightness via dimmers.

With all of these tips, we suggest engaging your Property Manager for advice on how improvements may impact any ongoing rental agreements in place.

For a quote on any of the above mentioned works, give us a call today! 1300 795 516