Before & After: A Rental Property Renovation
The key to any Rental Property Renovation is to try and keep the cost outlay as low as possible whilst getting maximum impact for your dollar. Buying a rental property is a big investment and in the current market in Perth, Western Australia we are seeing an oversupply of properties available for lease, so finding & securing a good tenant is essential to the purchase being a financial success.
Our client had found a 3 bedroom unit in an ideal location, close to the city for a quick commute and set a street away from the busy Restaurant strip of Victoria Park. The only downside was that the Property was looking very tired and unappealing and badly in need of a classic flip.
Before the Rental Property Renovation
As we began our walk through of the home it became clear that if our client wanted to not only secure a tenant, but also generate a decent rental income from the property we were going to need to renovate and upgrade. We focused on the two key feature points of any Potential Rental Property, the Kitchen & Bathroom and we went to work transforming the dated interior.
The exterior of the property was a 1990’s pseudo federation style. We used this to guide us on the new direction we should take for the interior and we decided to take Clean ,Classic and Timeless approach. Working with a traditional base we introducing a palette of cool greys, marble look ceramics and soft metallic finishes keep the look classic but also fresh. The interior walls were repainted and new simple white timber Venetian window treatments were selected to maximizing the limited natural light.
The layout of the kitchen was functional so a decorative renovation was all that was required. As the budget was limited we opted to retain the existing cabinets and gave them a refresh with a coat of paint. The existing benchtop was removed and replaced with a new laminated top which had a squareform profile in an understated grey colour.
To make a feature of the rear backdrop wall of the kitchen and wanting an luxurious look but without the price tag nor the maintenance issues we found some large format Faux Carrera Marble look tiles. We laid classic white subway tiles to the remaining walls to compliment the look. A new stainless steel rangehood was added above the stovetop location along with a new sink, tapware and appliances. The small section of existing floor tiles were replaced with a laminated timber plank flooring to complete the look.
The After : Clean ,Classic and Timeless
Apart from looking old and worn out the existing Bathroom’s layout was very tight on space and it felt cramped and uninviting so the decision was made to remove the bathtub from the room altogether and create a more spacious feel to the room. The shower was relocated and enlarged and a new classic styled double vanity with a Carrera marble top moved in accompanied by a large format ornate mirror which has become the real feature of the room. Classic white gloss subway tiles adorn the walls from floor to ceiling and once again to give us that lux feel we have dressed the rear wall of the shower with those gorgeous large format faux Carrera marble look tiles.
With real estate in general whether it be selling or leasing it’s always good to have a ‘hook’ that potential buyer/ tenants will remember. Once they have been out looking at a multiple property’s it’s easy to forget about a house that was just plain and safe. So when working on a rental property renovation don’t be afraid to stand out from the rest and try something a little bold, the large ornate mirror we placed in the bathroom in this unit has become the ‘hook’ for this house , it’s the house with ‘That Mirror’!