Purchasing a property is often the most expensive asset that many people will invest in. It provides the possibility of long-term wealth and financial security. However, like any investment, you want to ensure that it is well-maintained and appreciating in value rather than depreciating.
When purchasing a car you invest in ongoing maintenance, upkeep, replacement of items and regular cleaning, which is no different from owning an investment property – if not more important. We encourage you to take a moment to tick-off your annual maintenance checks below:
- pool fence compliance
- smoke alarm compliance
- safety switch compliance
- termite inspection and act on any advice
- building inspection and act on any advice given
- plumbing audit to all internal/external taps/hot water system, etc. to ensure that all plumbing is in good working order, which can prevent costly call out fees
- electrical audit to all light switches, power points, stoves, etc. to ensure the safety of all tenants and to prevent costly call out fees or a liability claim
- clean gutters and consider installing gutter guard
- maintain fences and other outdoor improvements
- ensure that exhaust fans are installed in kitchens and bathrooms reducing the possibility of mould
- ensure that there are door stoppers behind all doors to prevent damage to walls
- re-grout tiles in bathrooms and kitchens every 3-5 years
- paint internally every 5-7 years
- replace floor coverings every 7-8 years
- replace window coverings every 5-6 years
- rejuvenate kitchens every 5-6 years
- replace stoves/ovens as required
- upgrade the security features of the property such as security screens
- keep gardens basic and easy to maintain
- remove trees that cause mess or potential safety risks
- pressure wash pathways/driveways
- pressure wash or paint externally when required to maintain the property’s appearance