LJ Hooker

A Seasoned Property Investor’s Guide to Maximise Returns p. 11 01 3 What is the current condition of my property investment? And is there an opportunity for me to improve rental yield through renovations? Not surprisingly, the condition of your investment can have a big impact on the quality of the tenants you attract, how much rent you can charge, and whether your tenants are keen to re-sign the lease. Before knocking down any walls, consider what potential tenants are looking for and what is ‘in demand’ in your local area. For example, if you’re targeting students, perhaps creating a study area with some built-in storage would be of most interest to your target demographic. If you’re targeting family renters, perhaps consider small renovations that increase the overall functionality of the property. Updating old appliances such as dishwashers, installing air conditioning units, fresh blinds and curtains can all add to the appeal of the property. We cover this off in more detail in the next chapter.