We chat to David Manciameli from Brisbane Makeover Co for his renovation tips.
As part of Red & Co’s Renovation Month, we spoke with Renovation Expert David Manciameli from Brisbane Makeover Co. David’s business specialises in home, kitchen and bathroom renovations in Brisbane. Unlike most other property renovation businesses, Brisbane Makeover Co is a fully licensed builder and decorator who specialises in 2 core functions – either Renovate to Stay, where people are looking to update or refresh their home – or Renovate for Profit where clients add value to their property or increase their total rental return.
David has been helping homeowners for decades and today he takes us through his Top 4 Tips on Renovating to Increase Rental Return.
Tip #1: Planning is critical.
Planning is the most important part in the entire renovation process, and it is something most people forget much to their mistake! In terms of planning, what I see is that landlords don’t work backwards, meaning they don’t know their target audience and therefore they don’t address that audience in the style of renovation they complete. For example, renovating a unit in New Farm is going to attract a different tenant than renovating a 4-bedroom house in Chapel Hill, so everything you do in the renovation needs to be planned around the future tenant.
Tip #2: Cheapest is not always best
You need to work towards a budget but it doesn’t mean you should cut corners on price because cheapest is not always best – cheapest is cheap. Tenants aren’t silly, in a single day they can look at up to 5 different properties and after a while they start to notice the subtle differences between each. For example, if you have quickly painted the bathroom tiles to save money and used bad quality finishes that look cheap you will generally attract a bad quality tenant. Similar to my first tip, you need to do your due diligence and understand the target audience in your particular market.
Tip #3: You can have luxury for less
Renovating to get more rent doesn’t necessarily mean spending more money on high end carpet and finishes – As long as it fits with your target tenant I believe you should aim for luxury for less. Some of our smarter landlords use a builder’s range of carpet which is quite hardy and comes with a 5 to 7 year warranty, but then to emulate luxury they use a thicker underlay – making the carpet feel much more luxurious underfoot. We have learned from years of experience it is the little things that the tenants notice and having a simple point of difference like this can make the difference between renting your property quickly and to a better quality tenant.
Tip #4: Always renovate for the camera
With Real Estate moving more and more online you need to make sure your photos look better than the next listing to get more people clicking through, and ultimately visiting the property. Typically renovators want to go all white, or use plain beiges but we have found using darker floors and white walls really defines the room space and makes it look great. Better still, the photos really look impressive online with the contrasting colours which gets more clicks, and eyes onto our landlords listings. Another trick of the trade is using downlights in homes, as this visually increases the height of the ceilings to make the homes look brighter and larger than they would have otherwise.
Regardless of whether you’re renovating to stay or renovating for profit, there is no such thing as a quick and easy fix. Copying the designs out of an Ikea catalogue or Home Improvement magazine might seem like a good idea, but may not be inviting or fit in with the lifestyle of your future tenants. This could ultimately impact your rental return, so save the headache and talk to a professional like David and his team at Brisbane Makeover Co on 1300 766 027 or have a look at a few of their recent projects here.
- Final Tip: Remember to work with professionals who live and breathe property
Red & Co’s rental management team are all Seasoned Property Managers who are also property owners that care as much as you do. Through a deep understanding of the local market, and by having an experienced team of long term property managers we will reduce your vacancies and get your property rented easily. Our team can help review your current investment property to make sure you are maximising your weekly rental, and their regular property checks ensure your property is being well maintained. Chat to Ed & Kathy today on 1300 88 73 28 or shoot through an email enquiry here.
Brisbane Makeover Co. are fully licensed and insured (QBCC License No: 1190102). Brisbane Makeover Co. is a fast turnaround, high quality makeover service, which provides design, advice and expertise to add value to your home. Ask Brisbane Makeover Co. about our MAKEOVER MAP – a step by step guide that will show you how to transform your whole house. All Brisbane Makeover services come with a guarantee. That means if you have a problem with any of these services, Brisbane Makeover Co. will rectify any issues – free of charge.
