Some of the things that start to show their age quickly in property are fixtures and fittings. While some fixtures and fittings may need to be updated due to damage or a fault in the item, knowing when to update things in your home is important. This keeps your home in excellent condition before you need to make major updates.
Firstly, if you’re unsure about all of the fixtures and fittings in your property, take a look at the entry condition reports for your property or the sales contract. These documents may include notes on items you may have forgotten about. Some examples of common fixtures and fittings include electric sockets, security systems, smoke alarm systems, kitchen appliances, laundry appliances, built-in wardrobes, heating and cooling systems, carpet, mirrors, and furniture (if applicable).
If you’ve included appliances like fridges, a washing machine, dryer and dishwasher in your property, make sure you know when the warranty ends. The lifespan for household appliances can vary greatly depending on the brand of appliances in your property and how often they are used. Generally speaking, most appliances will reach the end of their lifespan anywhere between 5 years and 15 years. For items such as electric and gas cooktops, expect to get up to 15 years of use. For other appliances like washing machines and fridges, you’re likely to get closer to 10 years of use out of the appliance.
Carpet and light fittings
The condition of carpets and light fittings in your property will largely depend on how old the property is and how well it has been looked after. If the carpet is beginning to look worn or showing other signs it needs to be replaced, investigate the cost of replacing the carpet against having it professionally cleaned (though cleaning should be completed at the end of each tenancy). Expect to get between 5 and 15 years out of your carpet depending on the quality of the carpet and how much foot traffic goes through the property. Consider if your Central Coast property is located close to the beach or in a sandy area where abrasive sand will be walked through carpet. Hard flooring options may be a wiser investment choice in that situation.
Light fittings can last many years in a property. It’s when light fittings get broken or stop working that they need to be replaced. If possible, keep light fittings simple and easy for your tenants to reach for changing light globes.
Heating and Cooling
If your property has heating and cooling systems make sure you understand how often it needs to be serviced. Most central heating and cooling systems need to be serviced once per year. Paying this annual cost for service could also save you more money down the track as the contractor may be able to pick up issues before they arise.
Owning an investment property comes with many tasks that need to be remembered.
Servicing and maintaining your investment property well is achievable through keeping regular contact with your HSPM property manager, having the peace of mind there are many businesses and tradespeople located across the Central Coast to provide the products and services you need to remain proactive about keeping your property in great condition. Contact us now to schedule your next consultation with your HSPM property manager.