New carpet/paint

[Jimmy.]

I have bought an IP and am trying to decide if i should do new carpet and paint. The unit is certainly livable however new carpet and paint would make it look much nicer. Question is does will the work bring much of an increase of rent or would you wait till it gets quite dated then start.

Cheers,

 

[DaveM]

What does your property manager say? If it will cost you $4k to do it and get $10 a week extra rent, will take you 8 years to pay it back so not worth it. If you get $50 a week more, then makes sense to do it.

If the paintwork is just dirty, its amazing what a washdown will do... there is a product I use called Tricleanium which you can get at bunnings, much more powerful than sugar soap and can get grotty walls looking like new. That plus steam clean carpets may be all you need.

 

[Jimmy.]

Thanks for the reply and good ideas.

 

[jim1964]

That plus steam clean carpets may be all you need.

Go to www.accii.com.au
There is a better system than steam(hot water extraction) these days.Go to the link and have a look.Its called sustainable cleaning,i would recommend it.

 

[Jimmy.]

Thanks for the reply and good ideas.

 

[sunshine]

If it is livable and you are able to secure a tenant, I would be leaving it as is.

Unless there are mitigating circumstances for doing it earlier, I would wait a while and have these things done between tenants. Doing it this way the cost can usually be claimed as repairs and maintenance.

By upgrading the property just after purchase the expense would not be repairs and maintenance but usually capital works and can change the deductibility.


Sunshine

 

[fmaxwell]

Hi,
improving your IP has soooo many benefits!!! Financial- increased rental return, increased tax deductions. The tax man even expects you to do this!!!
When improving property like this, always keep it as neutral as possible so it appeals to as many different people as possible, I like Dulux 'white on white' or USA Antique. With the flooring, choose a hard wearing carpet in darker colours, and go for a premium underlay so it will last longer for you!!!

When it looks great you will get a higher rental return and better standard of tenants who will look after it for you!!


Good Luck!!

 

[Angel]

It really does depend on what your market demographic is. Please listen to the Property Manager's advice ... My last purchase had hideous carpet and I asked her for a referral to a carpet layer and she said to just leave it as my house is being rented to construction workers and miners with very muddy boots. Apparently they don't mind the Granny decor and pink kitchen bench tops either