Hi g0biin,

I've done a few renos on 2 bedroom units and firstly let me tell you that despite the work it is absolutely worth it. The first was a standard 2BR unit, 1970's, old carpet, blinds ect. When we purchased, the agent suggested we would be looking at a rent around the $200 mark. On settlement day we got to work, we ripped up carpet, took down blinds, scrubbed everything, we painted the place, prepared, sanded and polised the floors, put up new blinds, replaced all door handles, replaced some tiles, new light fittings and landscaped the courtyard. We did this in 8 days (10-12hr days) and it cost around $3000.00. As a result its rented out at $260PW (going to $280 at lease end) and it will not need any work for several years. The second was just a paint and a tidy up that took 3 days but increased the rent by $20PW. We did all of this work ourselves without any formal training or anything like that (we both work in white collar jobs) so it can be done, just a matter of some long days and a sore back.

If you are wanting an idea on a few essentials to have in the place, get a split system air con, (around $2000 installed) heating and cooling will get you extra rent, but something like a Plasma TV is just going to cause headaches, but the best thing (as you have indicated) is a coat of paint. It sounds simple but it makes the place look so much better. A tip when painting, decide on a colour palet that you are happy with, and stick with it for all of your places, (makes touch ups easier) and go for off whites and light creams. But i think the best tip is just get the place clean and fresh, thats what the majority of renters are looking for.

Hope this all helps