If your property is presently vacant or is about to become vacant, now is the perfect time to refurbish and maintain your property. Not only to take advantage of tax concessions but also to increase the rent achieved and minimise your vacancy periods for the next financial year.
Why not seek the advice of your Property Manager or better still, inspect the property yourself to ascertain any works that may be necessary.
Things to take into consideration are:
- Repaint inside and out
- Minor kitchen updates like changing cupboard door handles, or replacing the stove, installing a dishwasher
- Install built in wardrobes
- Install dead locks and window locks as additional security features
- Install new light shades
- Replace old curtains and blinds
From our experience, we find that these are the initial appeal points that potential tenants are looking for in a competitive renting market.
By completing the above, you are not only putting your property at the top of the renting shopping list, you are also reaping some tax advantages and can seek an increased rent and reduce the days that your property remains vacant.