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