October 2016

How To Maximise the Value of Your Rental Investment

At Tauranga Rentals we firmly believe in reinvesting some of your revenue into maintaining and improving the properties your Tenants live in.

When we say maintaining we mean on a regular basis, if not every year at least every two years giving the whole house an exterior soft wash clean, water blasting any hard surfaces, cleaning out roof gutters, cleaning out any drains and sump holes, cutting any trees away from houses, repainting fences and resealing tar seal drives. All of these plus other maintenance issues, if carried out regularly, helps to stop damage occurring. If unattended these repairs usually happens at the most inopportune time, when you might be short of funds, or at the weekend and gives your Insurance Company a reason not to pay you for those repairs.

When we say improving we mean by installing heat pumps, ventilation systems, insulation (compulsory by July 2019), garaging or carports, indoor/outdoor areas with decks, privacy, dishwashers, electric garage door openers, garden sheds, easy care gardens. All of these plus other improvements are going to improve the value of your Property as an asset and how much rent you can earn and with some improvements quite substantially.

Making any improvements of course help increase the Market Rent on your Investment and help cover the increased costs of Council Land Rates, Insurances and Compliance Costs which includes Smoke Alarms and Insulation

These improvements become an expense on your Profit and Loss Accounts making it even more worthwhile investing this money.

With increased market rents you are now generating more revenue which ultimately covers all the costs of maintenance and improvements.

If you would like further advice or information regarding maintenance or improvements to your property, Dan who has had over 15 years experience in the building industry and now 25 years in the Real Estate Industry, is happy to discuss any issues with you.

No results found.
keyboard_arrow_up