Recent Home Living Property Culture The Team North Shore Living
Recent Home Living Property Culture The Team North Shore Living
As a property investor, you need to ensure that your property is tenanted, and attracts the best possible rent, and to do that you have to make your property appeal to them over and above the others they look at.

One way to do this is to look at your available rooms and see if you can make them multipurpose. This might mean adding some built-in furniture or other fittings to make the space more attractive and usable to tenants. Here are some ideas to add function to your home.

Maximising your garage space

If your property has a large garage, you might think about using it to add an extra feature to your rental property, particularly if it has some natural light. For example, you could partition off an area for a home gym or office space. Alternatively, you could add some extra storage like built-in shelving or cupboards, which everyone appreciates. Bike storage or built-in workbenches are also popular additions to city homes.

All of these options might attract more interest from tenants than a large, dusty garage.

Add a mezzanine level

If you own an older property with high ceilings, why not add a mezzanine to one of the rooms? This can be as simple as a sleeping platform or, depending on the available space, you could add additional storage, too. A mezzanine looks great, and also frees up the room’s floor space, making it a handy extra living space for teenagers or parents.

Look at your loft

Another space that can often go to waste is the loft. While you might use it primarily for storage, you might find that adding a staircase and internal walls means it doubles as an extra bedroom, living area or office. Boxing in the sides and adding cupboard doors means there’s still space for storage but you’ve gained an extra room, which makes it appealing to a wider pool of tenants.

Making larger rooms adaptable

If you have a big room, look at ways to make it more flexible for tenants. For example, a partition wall with cavity sliding doors or concertina doors in the middle will add flexibility. It can be opened up into one large space or divided into two, giving your tenants the options of a living room or two smaller bedrooms. On this note, it’s often worth adding an extra room if you can – but do seek advice from a local real estate agent about what kinds of properties tenants are looking for.

Another useful addition to a larger room is a small kitchen area, with a sink, microwave oven and bar fridge – this is great for tenants who have frequent overnight guests or extended family living with them.

Finally, a built-in desk and shelving looks great and can serve as a home office, craft or hobby room, or teenage bedroom.

Do multipurpose rooms add value to rental property?

An attractive, well-maintained and functional property is worth the investment of time and money. And this includes the addition of multipurpose rooms. As a rule, tenants will pay more for a better home, and will also tend to stay longer. This means less time on the market between tenants so you maintain a steadier income and you have fewer changeover expenses.

What’s more, looking after your home and adding value to it isn’t just good for its rental appeal, it’s also great for its value as an asset. Plus, many renovation costs are tax-deductible for property investors.

Need help with a North Shore property sale?

McConnell Bourn, an independent agency working across four offices, has proudly represented clients selling and managing homes across Sydney's North Shore for the past 20 years.
Find out more about what we can do for you by calling 02 9496 2777 or emailing info@mcconnellbourn.com.au

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