Preparing your investment property for summer

Preparing your investment property for summer

By Shana Mawhinney on Oct 03 2018


If you own one investment property or many, it's important to keep them in good condition, firstly so you attract and retain good tenants and also to ensure your investment is looked after. That means doing some specific maintenance when summer rolls around in order to keep your investments in tip-top shape. 

Smoke Alarms

Smoke alarms can help save lives by providing occupants with early warning about house fires. A smoke alarm can help you and your family leave your home quickly in case of a fire, especially if you are asleep.

All South Australian homes must be fitted with a working smoke alarm. Homeowners and residential landlords are responsible for ensuring a working smoke alarm is installed in the property.

Fines may apply if alarms are not installed. The type of smoke alarm you require depends on when you purchased your home or the age of your home. 

In a rental property, it is the responsibility of the building owner or landlord to install and maintain working smoke alarms. Our agents are not licenced or qualified to test Smoke Alarm devices. We recommend SATS - Smoke Alarm Testing Services.

Please download the application form by clicking here, then forward the completed form to us with your required services and we will arrange for them to attend your property to ensure compliance.

Clean out the Gutters

Summer also means it's fire season…so if your investment is in a fire risk clear out your gutters before the heat arrives.

If there's a build-up of leaves, sticks or other debris in gutters, this can be a fire hazard. That's not to mention the potential to block up the structure itself, which can make it difficult for water to drain through.

This can lead to bigger problems later on, such as gutters that sag, along with mildew accumulating in the area. It can also cause water damage, which could potentially affect the home itself.

Planning for the next year

Given the fluctuations in students and people’s employment many tenancy agreements finish either at the end of the year or the beginning of the next given fluctuations in student living situations and employment.  If you are happy with your tenants and want them to resign it is now a good time to talk to your property manager to see how you can get your tenants to resign.  It is worth asking them the following questions and taking action where appropriate:
  • Are there any repairs or maintenance items that require attendance?
  • Review the rent, look at what is currently on the market that compares to your property
  • Discuss the possibility of a longer lease term with the tenant. Consider the rent over that period, some people write in a small rent increase into the longer lease, but keep the rent below market, in order to recognise and reward a great tenant.
The benefits of keeping good tenants are you don’t have find new ones, you don’t have to screen new applicants, you avoid vacancy costs and advertising costs and the current tenants are aware of the rules of the property and payment conditions.

Summer garden maintenance

After winter you might find your garden needs a bit of TLC.  Refresh the mulch, weed the garden beds and consider adding some flowering plants for a splash of colour. If you have a watering system, adjust the timer to day light saving time (if that applies to your state), clean the exterior lighting and windows and check if the entertaining deck needs any repairs and that the BBQ is set up safely to be enjoyed throughout summer.

Insulation

While insulating your rental property is a cost for you, you might find that you can secure a better weekly rent from tenants, given they won't have to spend as much on their electricity bills and less likely to switch on the air conditioner bills.

If you get the opportunity to insulate the property thoroughly, this could pay off in the long run. How you do this will depend on the kind of dwelling you've invested in, but have a chat with your property manager if you're not sure of the right approach.