Raising value of rural property for rent

Viewing 9 posts - 1 through 9 (of 9 total)

Purelle
Member
@purelle
Join Date: 2013
Post Count: 5
February 10, 2013 - 1:04 pm
Normally I wouldn't buy a rural property as an investment but my home has now become empty and selling it at the moment does not work ( split with fiancé and if I sell he gets it all paid of his properties – don't get me started on that )
my question is what raises equity in rural properties as well as raises rent. I have done a fair bit inside, not the bathroom though.
whats worth doing outside to raise rent, which is really my main focus at the moment. It has three bedrooms, possibly four if I added a wall. A disused pool, which I'm not that keen on fixed because well tenants and pools…… Umm no!!!
the house fencing could do with a bit of tlc. But apart from that its just dirt and gravel. It also has some stables.
Any help would be great.
Pthanks in advance.
Purelle
Member
@purelle
Join Date: 2013
Post Count: 5
February 10, 2013 - 1:06 pm
I have successfully renovated tenanted and sold one ip, and have another one at the moment . So while I'm all over the residential ip side of things I'm scratching my head with rural.
mattsta
Participant
@mattsta
Join Date: 2011
Post Count: 604
February 10, 2013 - 2:15 pm
I would recommend to take care of a garden outside if you have one and hire a gardener to take care of it. You can also put fences outside, decorations and etc. Inside try to renovate bathroom, if you can add additional bathroom-it would be perfect as well.
Purelle
Member
@purelle
Join Date: 2013
Post Count: 5
February 11, 2013 - 11:35 am
Thanks mattsta
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
February 11, 2013 - 12:10 pm
Where is the property located? What are the vacancy rates like in the area?
Would you consider allowing pets? If so, you can generally achieve a slightly higher rent.
Is there demand to rent by the room?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
February 12, 2013 - 1:16 pm
Hi Purelle.
Shed or at least a carport for a car very important.
How's the heating ?
Aircon or evaporative cooler. ?
Good insect screens.
HWS condition ?
Fences / pets ? Lots of rural tenants have dogs.
I'd fill in the pool.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
Purelle
Member
@purelle
Join Date: 2013
Post Count: 5
February 12, 2013 - 1:55 pm
Hiya crest. Large shed with roller door near the house with twelve car parking paves area. I have a restored enclosed fireplace in the lounge room which heats the whole house easily. The fences are in desperate need of tlc. Definitely thinking about filling in the pool. The thought of tenants and a swimming pool fills me with utter dread. Thanks for your comments
Purelle
Member
@purelle
Join Date: 2013
Post Count: 5
February 12, 2013 - 1:56 pm
Oh what does how's mean, I was also thinking about roller shutters to help keep the heat out. Any thoughts on that? There is also no pergola or shaded area, is this important do you think?
Freckle
Blocked
@freckle
Join Date: 2012
Post Count: 1,680
February 12, 2013 - 2:56 pm
Purelle wrote:
Oh what does how's mean, I was also thinking about roller shutters to help keep the heat out. Any thoughts on that? There is also no pergola or shaded area, is this important do you think?
Roller shutters can turn into hot plates that make the situation worse. Depends on design. Personally I'd just DIY solar tint the windows. Cheaper and easier and very effective at deflecting radiant heat.