When it comes to repairs, maintenance, or improvements, as a landlord there are certain things you have to do, there are some things you should do and there are always things you want to do!

Repairs and maintenance aren’t always just about keeping your tenant happy or about rental return – being on top of this may prevent costly expenditure later down the track.

What you have to do

The property must be safe to live in, so you may have to make alterations to be sure your property adheres to the latest safety legislations.

Issues like mould, or anything affecting tenant safety such as security or tripping hazards should always be addressed.

Repairs that the tenant brings to your attention  should also be addressed in a timely way. It’s not just about keeping tenants happy, but in some cases, if the repair isn’t fixed promptly, it can be more expensive to put right later down the track. Think leaking water pipes into the foundations or blocked drains and gutters…..

What you should do

While it’s not always necessary to redecorate or replace old and worn fixtures and fittings, we advise addressing and updating what are essentially wear and tear issues, particularly if you’ve got long-term tenants and you want to keep them!

A good time to get the paintbrush out, install new carpet or flooring and attend those minor repair issues like cupboard doors that don’t quite shut, is between tenants. A point to consider is, if a property starts to look shabby and uncared for, it could affect the rental return, and the type of tenants it attracts.

Many electrical goods such as smoke alarms legally require annual safety checks, but we also advise to have items like the air conditioning unit serviced regularly. This will mean any mechanical issues will be picked up early and generally, a well-maintained unit will last longer.

What you want to do

Unless you’ve got a spanking new apartment or house, there is almost always room for improvement in many investment properties. But the most important thing you need to consider under the ‘want to do’ list is whether you’ll get the return of investment back.

For instance, is ripping out a functional kitchen or bathroom and replacing with brand new fittings really worth the cost, or will changing sinks, cupboard doors, door knobs, and giving it a lick of paint give it a more modern look and warrant a rent increase?

That said, some properties do lend themselves very well to adding more rooms and granny flats, and very often the return on investment for these additions is definitely worth it.

The good news is, while repairs, maintenance and improvements do cost money and you do need to budget accordingly, they are mostly tax-deductible. So always keep your receipts and a note of costs and take them to your accountant who can advise what can and can’t be off-set against tax.

Having been in the business for over 40 years, we consider we’re the experts in what is essential, non-essential, and desirable repairs, maintenance and improvements that property investors should do.

If you’d like to know how you can enhance your property to increase rental return, or have any queries regarding landlord obligations, please do get in touch. We believe we go above and beyond expectations which is why we are one of Newcastle’s longest established real estate companies.

Give us a call on 02 4956 9777, send us an email to mail@newcastlepropertymanagement.com.au  or pop into our Cardiff office for an informal chat.

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