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RENOVATIONS, RETURNS AND REVENUE

Strategic renovations can help you achieve the best return on your investment to increase its value, increase your cash flow and keep quality tenants – so what renovations do Terrace Property Management recommend?Wet areasThe beating heart of most homes – the kitchen is a real point of interest for prospective tenants who are seeking a hygienic and functional space to spend their time cooking and cleaning. A complete kitchen refurbish can be costly but upgrading existing cabinetry by paintin...

TIPS FOR A SUCCESSFUL RENTAL

Don’t have time to read our full blog and want the secret straight away?Good properties attract good tenants.Let’s look into this in a bit more detail. Keeping your property in a well-maintained condition is the easiest way to attract and keep quality tenants. So, what are some tips for a successful rental?Right people, right propertyGet the tenancy started on the right foot – Make sure your property is up to scratch and advertise it to your target market (i.e. large families, student...

PREVENTATIVE MAINTENANCE - AN OUNCE FOR A POUND

An ounce of prevention is worth a pound of cure. Frequent and thorough inspections, coupled with quality home maintenance will help to prevent small issues from turning into larger problems.Here’s a few good places to start:Gutters, downpipes, and drains – Dependant on surrounding trees you may need to clear gutters frequently if, on inspection you notice they have been neglected. Make a plan to get them cleared to avoid blockages that can lead to more serious issues if left unattended....

IS PROPERTY INVESTING RIGHT FOR YOU?

So you’ve won the family game of Monopoly for decades – are you ready to take on the real-life challenge of property investment? As investors ourselves, we’ve compiled some questions to help you consider your next move.Do you want to be a passive or active investor?Active investing requires a more hands on approach and can consume a lot of your time and energy. It’s also more popular in a rising market, where people think they can make a quick buck. Active investing can lead you to be bu...

WHY USE A PROPERTY MANAGER?

In short, a good property manager will have the required knowledge, skills and dedicated time to look after your investment property, ensuring it maximises your returns.Most investors simply do not have the time and experience needed to manage their asset and outsource to a specialist. Check out our top six reasons to entrust your investment property with a local property management expert....