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feeling tired and worn out?

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dog_tiredWe can all feel this way at different times, but have you thought about your investment property lately?

Sometimes we can forget to spend time and money on giving investment properties a well needed facelift or a simple tidy up.

An investment property needs to be regularly maintained and serviced. As an investor, it is important to budget and plan to update the property every 4 to 7 years, depending on the normal wear and tear that has taken place.

This includes:

  • Internal painting
  • External painting (if applicable)
  • Replacement of carpets
  • Replacement of window coverings
  • Replacement of appliances such as dishwashers, dryers, ovens and stoves
  • Freshening up gardens

All items within an investment property depreciate in value over time.  Once the item has depreciated completely there is no longer a tax advantage.

A well presented property will more likely attract a quality tenant who will care for the home.  You are also more likely to achieve higher rent.