When we look at renovating a rental property which we will hold in our portfolio it is important that we cater to our tenants needs. Ideally we want our tenant to stay on long term and keep them healthy and happy. In all of our rental we look to add extra insulation and install hardwearing appliances and quality carpets that will stand the test of time. This way we ensure longevity through our tenants staying on and less maintenance costs through having to replace cheap appliances often.

The ‘she’ll be right’ attitude that the majority of kiwi’s adopt when renovating a home is a costly one! Professionals are professionals for a reason. Let me ask you this question; If you car engine broke down would you try and fix it yourself, or take it to a mechanic? A renovation is exactly the same but the end value is considerably more than are car. Save time and money, do it right and do it once!

Your professionals on a renovation don’t stop at the tradespeople, they extend to your legal team also. Ensure that you have your legal team check over the legal documentation such as the LIM and title for unconsented works that might trip you up if you are trying to resell the property at a later date.

When undertaking a renovation project there are a lot of moving parts and different trades involved. Builders, painters, plumbers, electricians, landscapers, carpet layers…the list goes on! It is very important to line up your trades, and in the right order! Don’t make the mistake of laying carpet before you paint! If you’re not sure, consider hiring a project manager who will manage and deliver the project for you on time. Remember, time is money!

On the subject of money, this is starting to sound expensive! When you have found yourself a project, be sure to get more than just one quote to ensure you are not being taken for a ride. Once you have decided on the team you are going to work with see if you can get a fixed price quote. This will enable your budget to have certainty so when you do go to sell you haven’t spent all your profits in a large renovation bill!

We hope these small tips and tricks make a large difference for you in your next project.

Cheers!

Billy

Your Property Solutions