Hi, this is my first post so i hope i get it right. I have a small relocated home which could use a little TLC. I am currently renting the property out and would like to do some work on it to increase its value. So i guess my first question is; Is it possible to do inside work when you have a tenant living in the house?
My second question is if i am going to work on the outside of the house to help increase the value what do you recomend.
When i first bought the house is was plonked on a big spare block (880msq) with no fence or plants. I have constructed a fence surrounding the property using treated pine posts and sheep fencing. I have also planted several natives (50approx) around the boundary but they are all tubes and are stillquite small (30cm). I am hoping to put baseboards around the house and put a small garden along the front fence line. I have also put down some crushed gravel for a driveway but other than that, there is nothing else. Is it worth spending money on gardens out the back, around the existing shrubs, putting in paths to the front door and clothesline etc… Its all so new to me..
Im just worried that if i spend $2000 or so on the house that its value will only go up by that amount…Any suggestions will be appreciated.
Hi,
Not a lot of detail regards your property supplied, but just a few things first. Any landscaping like lawns, plants, etc is not a tax claim, only retaining walls can be claimed.
Working inside and outside the house could be problem if you do any injuries or cause an accident so if you do not have insurance for such work, then be very careful who is present and all power tools etc will need to be labelled as inspected etc. However, please don't let me put you off doing small jobs that will improve the appearance and rent of the property.
Some jobs like adding a carport ( by professional installers ) can give good return for the rest of the life of the rental home, but I'm not sure how long your relocatable is going to last?
It's best to talk to the tenant about any project they may wish for, and ask if they are prepared to give a rental increase to help cover your cost. It's probably best to use Steve's book formula's to see if its work doing any project that is over a few hundred dollars.
Hope this starts some more input for you from others.
regards
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