Three key tips to boost the value of your rental property

So you have just scored yourself the perfect property in Hamilton, and you’re eager to see that rent money rolling in. Wanting the best bang for your buck from your investment piece goes without saying!

Sometimes, however, it can take a little TLC to turn a house into a home for potential tenants. Priority Home Loans have a few ideas to help you spruce things up where it counts! 

Most importantly: inspect it. 

The last thing you want after you’ve had that lease signed is an angry call in the middle of the night from a tenant in turmoil. Things might seem fine and dandy on the surface when you do your rounds, but it takes a professional to ‘x-ray’ view your property for hidden problems that could dramatically decrease its value in the near or far future. Plus, it should go without saying that you certainly don’t want to scare off your tenants with pesky leaks, unstable boards or infestations! 

New kitchen + new bathroom = instant value.

There is a lot to be said for a house decked out with modern appliances and fittings. Ancient wares wreak of future fix-it jobs: while you might find they work just fine during your inspection, it could eventually become a reoccurring issue among tenants; a thought that would surely be crossing their minds upon viewing! If you really want to achieve that ‘brand new house’ impression, don’t hold back on the bathrooms and kitchen. These are the stars of your property so ensure that they are performing, because this show directly effects your rental income! 

Curb appeal is key!

Do you believe in love at first site? Spark the feeling for your potential tenants by offering a picturesque first property impression. The ‘front of house’ and surrounding exterior area are prime for the primping! You have plenty of options to impress here. Consider a convenient deck area: instantly create extended entertainment space around your property, as well as that all-important indoor/outdoor flow. At the end of the day you can’t go wrong with a well manicured front lawn bedazzled with beautifully coloured foliage. We recommend you pop into your local plant shop to chat trees; which ones are low maintenance, and which are proven to thrive in the Hamilton climate.

For more value-boosting tips and tricks, get in touch with the friendly folk at Priority Home Loans for a one on one chat with your Hamilton mortgage broker experts. It might pay in the long run to take these crucial property updates into account when applying for Hamilton home loans. 

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