Would it be wise to add water tanks to your investment properties as an improvement(during a reno).
You get that rebate, which makes the tank cheaper.( i dont know the real price).
You could up the rent as your going to be lowering their water bill.
It may also be an incentive for them to keep a nice garden and lucious lawn.What does everyone think?
Christopher.
An interesting point you raise there, if you are environmentally aware it is a great idea but at the same time are your tenants likely to be? My perception is that renters are less likely to do the garden and lawn as it is not their house and don’t have that attachment to make it look perfect as they may move on in a couple of years. I think if you are selling it adds value however so could always be worth putting in for when the time comes to sell.
Short term I think for a rental money could be spent in other areas but when it’s time to sell it is a good addition!Thanks cbellesini. I am beginning to agree with you there. When the time comes to sell, put it in.
Though what about the idea of selling the property to the tenants. Like you know that increased rent thing for a few years builds up a deposit for the house and you sell it to them, what is that called.
And would it be wise to do it in that sense as they will be seeing this house as theirs in the future and you will be gaining the benfits of the increased value of the water tank.Christopher.
i read on a renovating website from america (i forget the address of the website though, lol!!) that adding a rainwater tank can increase the value of the property 4 times the price of the tank. So if the tank costs $5000 then the property automatically goes up by $20,000. Also i heard that rent goes up by at least $30 per week.
It is a good idea, but I don’t think it would necessarily add much value to the property or to the rent.
Terryw
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Thanks everyone. I have come to the conclusion that I will add the water tank when I am renovating the dump that i buy in 3 years time.
Thank you.Christopher.
We put a water tank in at PPOR & have not regretted it as with the water restrictions we can keep our garden wash the car etc. Recouping our money would take along time though. As for an investment property I don’t think it would add value. If in the future you wanted to sell then I would consider it ,but only then.
Juls
Do you find that your neighbours are thinking you are dodgy when you hose your garden and your car on no-hose days ?
Our council sent out a special sign to put near our letter box which had the size of our water tank & that alternative water supply was in use. It just came in the mail last week, because we had it inspected when we applied for the rebate these signs were sent to households with tanks.
So hopefully the neighbours notice, although our house is hard to see from the road anyway.
Juls
well I’m putting tanks in all my properties. After the state and local gov’t rebates, each tank will cost me only $200. I believe it will add value. I am also putting in the dual flush loos where I can. Gotta take advantage of those govt rebates while tehy last.
millyThanks for the tip…How much rebate do the Government give you for putting in a rainwater tank? I hadn’t heard about that? How do they pay the rebate – is it on invoice?
Thanks & have a brilliant day!
Dianne BurnsHi fbd1
You will need to contact your local council or their website to find out the rebate amount as I don’t know if it is the same for all councils. Ours depends on the size of the tank as it varies on the size. Just a tip put in the biggest tank you are able to accommodate.
Juls
Thank you everyone for your help, It has been greatly appreciated.
Thanks,
Christopher Fife.in melbourne i can see it getting big favour as our water restrictions get worse every spring/summer and its definately becoming a problem and tanks will be desired for sure.. we cant even currently wash our cars or mow lawns without checking what is allowed and what isnt, for the largest island in the world surrounded by thousands of kilometres of endless ocean its fairly sad lol.
Imo id say its money well spent and people will appreciate it more as time goes on im sure.
Anyone know much facts about the tanks, ie how long it takes to fill say a 1500L tank or so in an average winter season, if they fill at all?!?btw good size for prices and equipment:
http://www.irrigationwarehouse.com.au/Thanks alot unknown soldier, that website was absolutely excellent. Told me more inof no that one site than the rest I could find. Thanks.
Christopher.
In QLD we will be on Level 4 water restrications by November the First. Up water tanks are a huge draw card in the sale.
However the price achived at sale will not be greatly increased.
As always it location & condition of the property that attracts the price increase.Aslam Sargeant
0408 730 295
Looking to buy property?
http://www.isoldmarsden.com.auOur new townhouse we’re building had to have some sustainability features in its design to get it through council, can’t recall if this was DSE imposed or by the municipality. So this meant that we had to put in a water tank, solar panels, etc etc. We chose a water tank.
Something to think about going forward, people can buy/rent new houses/townhouses/units which are environmentally friendly and can potentially save them money, how does that impact on places without these features.
I’d say short term, there won’t be much thought and the impact will be low, but water is becoming a much more valuable commodity, have a look up north in QLD where they are on level 4-5 water restrictions. Maybe I should sell all my property and buy desalinisation and water treatment plants.
D.
like some one said earlier, these rebates won’t be around for ever, if it cost you $200 to get a $1200 water tank that would add $1200 to the value of your property, I think of it as free money. “but water is becoming a much more valuable commodity,” . are we going to start selling the water in the tanks if the tenant doesn’t use it?
Izza
Originally posted by irbrill:are we going to start selling the water in the tanks if the tenant doesn’t use it?
Thats a great idea, they’ll be like gold collectors.
When it rains its jsut money falling from the sky.
Christopher.
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