This won’t be appropriate for everyone.
We recently did four depreciation schedules for a developer who built four houses in Griffith. (At $250 each as he had all the costs.)
I happended to notice all four properties had closed circuit TV security systems (CCTVs).
I was curious to know why, so I called him. He said in the area where the houses were, alarm systems were common. He got some CCTV things cheap and bunged them in. There are four cameras linked to a hidden recorder. He reckons the cost was the same as a decent security system, but tenants love the idea of them and the properties rent very quickly.
Another client had a unit at Docklands. His unit was the same as a hundred other empty units looking for tenants. Until he put a plasma screen in. Sure, it cost a bit (though it was depreciable) but he rented the place out the next day. I bet there were some units that are still empty.
When there is a glut, it’s all about creating a difference.
ScottTax Depreciation Schedules
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great post. I know properties that are inner city which have ‘enjoyed’ the same rental for the last 4 years because of the amount of stock on the market.These ideas to do something different and get a tenant in straight away or maybe even increase the rental in today’s market (or some areas) are great.
Any more ideas anyone?? Has anyone done anything different lately that has worked?
We have added a dishwasher and put air-conditioning in the living rooms (which flows into the bedrooms). Both are pluses if someone is deciding on your house or another without them.
A few years ago we were finding that without a deck, we were losing potential renters. We added a huge covered deck, which cost us but in the long run adds more than its value to the house and is a huge attraction to potential tenants.
We also always allow pets. With polished floors, not much damage can be done and it is surprising how many people will not allow pets, so it is a big plus.
Regards, Wylie
Little dogs seem to be a real problem because they always seem to ‘wee’ on the carpet. It is somthing that can be cleaned so I guess it really shouldn’t be a barrier. You make a good point that not many landlords permit pets but very often a tenant will slip one in anyway.
Good timely topic!Yep, I had an IP that I decided to rent out to dogs and their owners. It wasn’t a flash place. There was never any damage that exceeded the bond and I made sure the PM did 4 monthly inspections. It always rented very quickly.
ScottTax Depreciation Schedules
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1300 660033
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http://www.depreciator.com.auDepending on how much ‘wee’ there is it can become a huge expense. I remember talking to a carpet layer who has seen it soak through the floor coverings and into the floorboards so that even new carpet and underlay did not remove the stench.
Having said that I think that tenants have a right to keep pets and an obligation to pay for any damage they cause.
I like the idea of having dishwashers in rental properties. Living near Griffith I also think that a high gain antenna is a real bonus so that you can pick up channel 10 from Wagga… We really missed it when we first moved here and the owner (we are renting) was not willing to give us a decent antenna.
Kind Regards,
Sonja
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