When looking to buy an investment property that will bring in a good rental return, location – in particular, proximity to public transport and the local shopping strip – is key. As is buying something that offers a sensible layout and, if you’re intending to lease it immediately, won’t require large capital works to bring it up to scratch.
But once you’ve taken possession, what – apart from ensuring the property has been properly cleaned – can you do to ensure it not only brings in the maximum possible rental return but will stand out should the rental market experience periods of high vacancy?
A fresh coat of paint in a neutral colour can do wonders, say the property experts Domain spoke to, as will upgrading the carpets (and don’t necessarily go for the cheapest – a better-quality carpet won’t just look better, it will last longer).
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