With the right improvements you could add value to your property which would attract higher rent or fetch a higher yield when you plan to sell the home. When you own your own home, renovations are about creativity. But when you own a rental property, you need think about what’s practical rather than imposing your own personal tastes.

Here are some simple but effective improvements which can make a difference to your rental income:

Kitchen – the kitchen is the heart of the home, renters are happy to pay more for a home with a good kitchen. Kitchen renovations don’t need to be extravagant and can be easily budgeted for. Repainting or replacing your cupboard doors and handles, and swapping out your old tapware, can quickly boost the appeal of the space.

Refresh the bathroom – after the kitchen, a bathroom renovation is a tried and tested way to add value to your rental. Get your bathroom waterproofed, heated and well ventilated. Some relatively cheap fixes include, replacing any old shower curtains, shower heads, and fixtures, scrub away any mould and if need be, put in a new vanity.

Add a bedroom – Does the layout of your property allow for an additional bedroom? Adding an extra bedroom to your rental can attract a lot more people than previously before.

Off – street parking and/or garaging – A car space can be a huge bonus, adding a carport or having access to a garage is something that tenants will pay more for.

Heating – a warm property is going to attract many tenants. If you install a heat pump in your home, you are bound to differentiate your home and attract tenants that are willing to pay more for this convenience. 

Rent paid on time – Paying rent on time is one of the most fundamental aspects of any tenancy. Paying rent helps the owner pay their mortgage but in return gives the tenant a stable place to live.

Treat the property as if it were their own – A tenant that is “house proud” is a great quality to have, especially when it comes to maintaining the value of your investment and keeping your mind at ease. As well as not causing any damage, the tenant will keep your property clean and tidy and let the property manager know of any issues, should they arrise.

Long-term tenancy – Keeping a tenant in your property long-term is ideal, as it saves you time and money trying to replace them if they leave.

Maintenance communication – something small can turn into a big expense for owners. An ideal tenant will notify their landlord when they notice any maintenance issue that requires attention.

Accommodating – provides access to property inspections, during the tenancy with minimum inconvenience to all.

Adheres to legislation and terms of the Tenancy Agreement – the most important of all! A tenant that follows the terms and conditions of their tenancy agreement and requests permission for pets and property alterations.