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If you are looking to rent out your investment, you’ll undoubtedly be keen to lease your property for the most amount of money possible. 

Reproduced with permission of LJ Hooker

You may well have read articles on how to add value to your property, but often these suggestions come with a hefty price tag. However, they don’t need to.

Here are five fixes for under $1,000 that can make significant improvements to your property and help to attract more quality tenants.

Replace the flooring – Up to $1,000 a room 

While many people think replacing the flooring is expensive, it doesn’t need to be; there are affordable and efficient options available.

A good lino to replace some old tiles or to be placed on top of old tiles can transform a room. Advances in vinyl flooring design have enabled high-resolution digital photographs of natural timber, stone and other flooring to be transferred to the vinyl flooring, giving a stylish final effect. Lino is economical, durable, comfortable underfoot and endures heavy traffic.

For supply and installation, you should expect to pay $30 / square metre for budget vinyl flooring, $35 – $45 / square metre for standard quality and $55 – $90 for vinyl plank flooring.

Also, consider whether the carpet can be steam cleaned to bring it back up to scratch rather than needing replacement.

Have a question you would like to see answered here? Let us know!

Pressure clean your exterior – $70 to $150 a day 

This will take a bit of manual work on your behalf, but the rewards are worth it.  Hire a pressure cleaner from your local hire company and spray away any exterior grime from the paths, on decking, on pot plants, walls, windows… anywhere you find dirt. While this will take a few hours, the result is worth it.

Do this before considering any external re-painting, and you may save yourself a few thousand dollars, as it often comes up looking brand new.

Re-surfacing tiles – $1,000 

Renters love a nice bathroom, and it’s one room that can make or break a sale.  So if your room is in structurally good condition, but it is a horrible colour having your bathroom resurfaced can make a big difference.

This takes approximately one day and will involve someone coming in and spraying everything, including the old tiles. You will go from having an ugly bathroom to what looks like a new space almost instantly.  Bigger bathrooms will cost more than $1000.  Additionally, replacing the vanity can cost around $300 from your local hardware store, and these too can also help transform the space.

If your kitchen benchtop is tired, consider replacing it with a laminate benchtop.  Laminate is hard hard-wearing and economical with prices ranging from $120 – $270 per lineal metre.  You’d be surprised the difference this can make the space.

Replace handles and doors – $6 and $50 respectively

An easy and impactful fix for the kitchen and bathroom is to replace the doors and handles on your cabinets. Your local hardware store will have some economic handle choices, and all it will take is a bit of elbow grease from you to swap them over with the old ones.

You may also consider swapping the cabinet doors or re-painting them if your budget can stretch a bit further.

Bring in some light 

House hunters love light! So if your rooms are looking dark, frequently the problem is inappropriate window furnishing.

By removing the old heavy curtains and installing new blinds on the windows can be great, depending on where they are located on the property.

Windows to the rear of the property or the sides don’t need blinds or curtains; it’s only the front where you need them.  Replace heavy curtains or shabby blinds with slimline venetians or roller blinds.  These cost approximately $60-$130 a pack.

Another tip is to make sure your light fittings and windows are clean to get the most light possible.

A few extra free or super cheap jobs A beautiful lawn is popular with renters so spend an hour and mow the lawn (either DIY or hire help for $20+ per hour). If your neighbour has a less-than-pretty front yard, consider offering to mow theirs as well for the home open!

Have a look at your powerpoints, if any are broken or outdated replace them ($17 from Bunnings and a bit of electrical know-how).

Make sure the house is spotless. Either do it yourself or get a professional cleaner in to help. They cost approximately $25 per hour.

Have a question you would like to see answered here? Let us know!

LJ Hooker

LJ Hooker is one of the largest residential and commercial sales and property management organisations in the industry with more than 8,000 sales professionals, property managers and support team members in 730 franchised offices.