APIA Blog

RSS Feed

20 Practical Tips for Renovating Your Rental Properties

Tuesday, April 09, 2013


Property investors always talk about buying low, bang on some renovation et voilà!  Capital Gain!  But as it has always been said, easier said than done, what exactly do you have to do to a property to maximise its capital potential?  

We had a dig through the APIA archives and look what we found!  A vintage oldie but a goodie - Cliff Seque's 20 top tips for rental property renovation.  Here we go:

  1. Don't over capitalise and do a rough budget based on quotes or estimates for the expensive items.  Spend the most on what will be used the most and that you really want to last, e.g. appliances, plumbing, lighting and all horizontal surfaces i.e. flooring, bench tops, vanities, showers, etc.
  2. Be generous with plugs for appliances, lamps, stereos, televisions, computers and heaters.
  3. Neutral backgrounds allow tenants to create their own identify with their belongings.  Dominant colours, patterns and textures control the atmosphere of the space.
  4. Wallpaper can be an excellent choice for general maintenance especially washable and scrub-able vinyl.  A good way of hiding imperfect walls.  
  5. Avoid coarse or heavy textures for interior use as they absorb so much dirt, smell and dust and are harder to clean e.g. bricks, textured ceilings, long piled carpets.
  6. Pay attention to safety issues and that they comply.  This includes: stairs and handrails, balconies, decks and terraces, smoke alarms, hearths for wood burners and fires, access to the exterior, somewhere handy to the range to put a hot pot that won't damage the surface such as tiles or stainless steel. 
  7. Window treatments should retain heat, provide privacy and control the light.  They should be easily operated and firmly secured.  Avoid curtains in doorways.
  8. Interior decorating schemes can be inspired by the style of architecture, existing fixtures and fittings, the outlook or personal preference.  Spaces can skillfully be manipulated by the use of colour, texture and pattern.  Lighter colours recede, darker colours advance.  Smooth textures recede, coarse textures advance.  Subtle patterns recede, contrasting patterns advance.
  9. Pattern can be used to disguise defects in design, structure and style.  Clever applications on any surface can enhance an environment but must be chosen with care.
  10. Wall hung cabinetry or vanity and shelves can be coloured the same as the walls to create an illusion of space whereas in contrast they would stand out.
  11. Provide plenty of good, easily accessed storage.
  12. Supply uncomplicated, reliable, well designed appliances that are easy to operate and clean and have a good service record.
  13. Consider the use of timber for doors, framing, skirting boards, stairway handrails and dado lines because of its durability and long-term beauty.  Don't use MDF in wet areas.
  14. Paint is the most versatile medium.  Use high gloss enamels on all doors, window framing, and skirting boards.  Use semi-gloss acrylic on walls (low sheen on imperfect walls) and anti mould paint in ceilings - dulux mould shield or similar.
  15. Carpet is a wise flooring choice being soft and comfortable plus an insulating surface which helps with noise control.  Use darker colours with a fleck or a small pattern.  I prefer wool of extra heavy duty domestic or greater.  If short pile use thick underlay to give an impression of softness.
  16. A mirror creates an illusion of space and is great in small bathrooms.
  17. Allow for efficient ventilation to remove household smells and moisture to disappear.  Vent to outside.  If redesigning kitchen, put range on a outside wall if possible and use flexible aluminium ducting off the top of the range food to outside.  In bathrooms fit a heat, light and fan unit and have the electrician wire it up so that the fan goes when they use the heat or light function.  Have windows that can be secured open with ease.
  18. Use ceramic disc taps in high use areas - kitchen, vanities and showers (single lever if possible).
  19. Plan to have adequate lighting.  In dark rooms or long rooms, fit extra overhead lights.  Make sure there is outside lights around entrance door areas and areas that may be used at night i.e. patios, main entrance path etc.
  20. I like to use 1830mm stainless steel sink bench in a breakfast bar design.  This enables a 600mm wide dishwasher to be fitted in the bench either side of the sink with drawers on the other side.  The services are run through a 100x50 framework at the back of the cupboard.

Cliff kindly shared these tips with us back in 2010.  How up-to-date do you find them?  What are your top renovation tips?  Leave a comment below to share!

Recent Posts


Tags

shower dome Market report opes partners management positive cash flow kiwibuild p lab first home buying sale and purchase trust fixed-term tenancy ird reserve bank scotney williams finance rta reform clnz ask an expert short-term rental robert kiyosaki airbnb Investor story interest only landlord relationship tenant ocr HHGA Holler market cgt television lvr speculator inspection equity skill shortage termination sublease property housing affordability Must know Editor's Choice election2020 rental wof insulation ventilation property maintenance tax legal khh maintenance buyer's agent letting parry v inglis anti-social behaviour commerce commission Gluckman buying beginner investor Guest blog HHS water bill building education covid-19 nzpif asbestos warm up new zealand market rent rent property apprentice debt enforcement cash-flow ring-fencing How to holiday house RTAA 2019 LIM structure HSWA banking damage partners smoke alarm income trademe renovation twg report early termination CoreLogic minor dwelling meth worksafe property management anz mortgage government rental market RBNZ house prices interest rates tenancy services Standards New Zealand insurance business property cycle CCC bond Sponsored post Investment tip personal growth productivity DTI barfoot and thompson heater meth contamination mindset rta capital gain winz boarding house bond form rent increase wins warren buffett sale and purchas investor Question and answer Level 4 TCIT Kris Pedersen Mortgages and Insurance trespass Landlording advice Jeff Bezos recycling equity property value privacy principal and interest election 2017 extractor fan will rtaa2020 watercare buying rules gluckman report initio financial advisers act rent arrears unitary plan auckland negotiation auckland council letting fee off the plan return cat Case study development Property (Relationships) Act tenancy tribunal housing bubble yield Q&A data security tenancy issues subdivision investment strategy Tribunal case study re agent heating bad tenant wealth creation Must knows

Archive

Introducing Our Partners
Principal Sponsor - Kris Pedersen Mortgages & Insurance logo Gold Sponsor - Barfoot & Thompson logo Gold Sponsor - CoreLogic logo Property Apprentice logo The Insulation Warehouse logo The Renovation Team logo The New Zealand Property Investors' Federation logo
09 360 2376
info@apia.org.nz

The Tenancy Practice Service and TPS Credit Control work closely with the Auckland Property Investors' Association. Our vision of bringing helpful resources, documents and high quality services to Auckland Property Investors and Property Managers is shared by APIA, so its a partnership that works well. 

The Auckland Property Investors' Association is a great organisation for those who want access to advice and information from a range of industry experts and partners. 



Mathieu Holt- Managing Director, The Tenancy Practice Service & TPS Credit Control
Through the Association I found the channels and methods to fund the purchase of property I never dreamed about. Grant Brown

All round it has been one of those things Neil and I felt was really worthwhile belonging to. We have learned so much it has just built our confidence in what we are doing.

Janice Bieleski
I read two articles in the monthly magazine that saved me over $5,000. That is my membership fee for the next 26 years and I am sure I will learn a whole lot more! John Duncan
Fantastic organisation. The networking opportunities are brilliant and provide us with information and opportunities that cannot be obtained anywhere else. We learn something new at every meeting and we've been in this game for nearly 20 years. Pauline and Gyanen Kumar

I find the information obtained from various APIA meetings very useful in guiding my own property investment and rental management.  I also enjoy the networking opportunities with like-minded investors.  I am inspired by other investors’ success and find the more experiences and knowledge that I share with others, the more confident I become.  

Thanks to all APIA event organizers and administrators for your brilliant work. 

Stella Shao

I like talking to people and learning from their experience because it gives me the confidence to invest well. I think it is a knowledge thing. I now know I am doing things the right way.

Stephen Weatherall

My APIA membership has become a total success.

Every time I attend a monthly or regional meeting I come away with so many useful and positive tips that have added value to my property investments and management.

Not only that, the website is a great place for practical advice and useful information. It has now evolved into an important resource for my business.

Talk about value for money! The discounts I have been getting at Bunnings when I present my APIA membership card have more than paid for my annual subscription!

Tim Duffett, Plan A Investments Limited