You've done your research, purchased in a good suburb and now your property is tenanted and covering your costs ... and hopefully a little extra too! But how can you maximise your investment and get the best return on your money?
Tenants love low maintenance and low responsibility. Your property probably looked immaculate when you put it up for rent; gardens were weed free, hedges straight and lawns lush and green. You put a lot of work into making sure it looked its best.
But in all likelihood your tenants won't love your garden as much as you do. They may keep the house in order; to keep the agent happy on the next inspection but the gardens are another story…
Research by REIWA found that rental properties with well-maintained gardens rent up to 4x faster than untidy properties. Tenants were also far more likely to search for properties with neat gardens in a flooded market. So it pays to ensure your property is looking its best when you put it up for lease. In another study researchers found that tenants are 83% more likely to extend their lease if the property has a gardener maintaining the gardens regularly.
In today’s world everyone is busy, stressed and desperately running out of time. It’s no wonder that tenants are snapping up rentals that have regular gardeners. And it’s easy to see why these properties can charge a premium.
Remember if you are thinking about hiring a professional gardener to maintain your rental property, make sure it’s written into the tenancy agreement and the rent is increased to cover the costs of garden maintenance – otherwise you might be left short changed.
Regular maintenance is a win-win. It keep tenants happy for longer, and increases the value of your property allowing you to attract better tenants and a higher rent or resale value.