Spring is here, and while many of us are starting to think about warmer weather, longer days and getting out and about, it is also a great time for landlords to take a fresh look at their investment property.
The warmer months can bring increased demand from tenants, but they can also highlight maintenance issues that may have gone unnoticed during winter. A little bit of preparation now can help prevent unexpected problems, minimise costly repairs and ensure your property is looking its best heading into summer.
As property managers, we see first hand how proactive maintenance and regular reviews can make a real difference to the performance of an investment property.
Here are 10 things I recommend every landlord reviews this spring.
1. Is your property achieving the right rent?
The Perth rental market continues to evolve, and it is important to make sure your property is priced appropriately for its current condition and location.
It can be tempting to simply increase the rent as much as possible, but the highest possible rent isn’t always the best outcome for a landlord. A property that is priced correctly is more likely to attract quality tenants quickly, reducing the risk of unnecessary vacancy.
If your property is coming up for renewal, ask your property manager for an updated rental assessment. They should be looking at comparable properties, current tenant demand and the condition and features of your property.
Sometimes, spending a little money improving a property can also allow you to achieve a better rental return.
2. Give the property a maintenance check
Review your recent routine inspection reports and ask yourself:
Spring is an ideal time to look at any maintenance issues that have been identified throughout the year.
- Are there any recurring maintenance issues?
- Are there repairs that have been put off?
- Are there areas of the property showing signs of wear and tear?
- Are there improvements that could prevent a larger repair in the future?
Small maintenance issues can become much more expensive if they are left unresolved.
A dripping tap, damaged seal, leaking gutter or small garden issue may seem insignificant today, but addressing these problems early can save both time and money.
3. Get the property ready for summer
Perth summers can be tough on properties, so now is the time to make sure everything is ready.
Air conditioning is particularly important. If your property has older air-conditioning units, consider whether servicing or preventative maintenance is worthwhile before they are working at full capacity.
It’s also worth checking:
- Reticulation systems
- Gutters and downpipes
- Outdoor areas
- Pool equipment, where applicable
- Air conditioning
- Doors and windows
The goal is to identify potential problems before they become an emergency repair in the middle of summer.
4. Review your latest inspection report
Your routine inspection reports are one of the most useful tools you have as a landlord.
Don’t just read them and file them away. Look for trends.
Is the property being maintained well? Are there areas that are repeatedly mentioned? Is the garden being looked after? Are there signs of damage or excessive wear and tear?
A good property manager should be keeping an eye on these things and communicating anything that requires your attention.
The inspection process isn’t just about checking whether a tenant is keeping the property clean. It’s also about monitoring the condition of your investment over time.
5. Check where your tenancy is up to
If your tenant’s lease is approaching expiry, spring is a good time to start planning ahead.
We always want to avoid unnecessary vacancies where possible, so understanding your tenant’s intentions early can help everyone plan.
If the tenant is looking to stay, you can start discussions around the renewal and ensure the proposed rent reflects the current market.
If the tenant is planning to leave, having as much notice as possible allows you to prepare the property, organise any required maintenance and get it back onto the market quickly.
Good planning can make a significant difference to your overall rental return.
6. Review the property’s presentation
Even if you have a great long-term tenant, it is worth occasionally looking at your property through the eyes of a prospective tenant.
Would it benefit from fresh paint?
Does the garden need some attention?
Are the carpets looking tired?
Would replacing an outdated light fitting or tapware make a noticeable difference?
You don’t necessarily need to undertake a major renovation. Sometimes small improvements can make a property feel fresher and help maintain its appeal.
The aim should always be to consider the return on investment before spending money. Not every upgrade will result in a higher rent, so speak with your property manager before committing to larger improvements.
7. Make sure you’re keeping on top of your landlord obligations
Landlord responsibilities don’t stop once a property has been leased.
It is important to make sure your property continues to meet the relevant requirements and that maintenance and repairs are dealt with appropriately throughout the tenancy.
If you’re unsure whether something needs attention or whether a particular obligation applies to your property, speak with your property manager.
Legislation and requirements can change, so relying on what you have always done isn’t necessarily the best approach.
8. Review your insurance
When was the last time you reviewed your landlord insurance?
It is worth checking that your policy is still appropriate for your circumstances and that you understand what is and isn’t covered.
If you’ve completed renovations, added fixtures or made significant changes to the property, make sure your insurer is aware where required.
It is also important to remember that landlord insurance and building insurance are not necessarily the same thing, so make sure you understand the cover you have in place.
9. Think about your investment strategy
Your property manager doesn’t need to know every detail of your personal financial situation, but it is helpful for them to understand your plans for the property.
Are you planning to hold the property long term?
Are you considering selling?
Would you like to renovate?
Are you thinking about purchasing another investment property?
Your plans can influence how you manage the current tenancy, maintenance and improvements.
For example, if you are considering selling in the next 12 months, you may want to approach renovations and capital expenditure differently than you would if you were planning to hold the property for another 10 years.
Having that conversation early can help your property manager provide more relevant advice.
10. Ask your property manager one simple question
Finally, here’s the question I think every landlord should ask their property manager:
“If this were your investment property, what would you do?”
Your property manager is looking at your property regularly, speaking with tenants, attending inspections and seeing what is happening across the rental market.
Use that knowledge.
Ask them what they think could be improved, whether the rent is competitive, whether there are maintenance issues they are concerned about and whether there is anything they would be doing differently.
Sometimes an outside perspective can identify opportunities that you simply don’t see as the owner.
A little preparation now can save a lot of stress later
Your investment property is a significant asset, and like any asset, it needs to be maintained and reviewed.
Spring provides a great opportunity to take a step back and look at the bigger picture — not just what is happening with your tenant today, but how your property is performing and what you can do to protect its condition and maximise its potential moving forward.
At Abel Property, we believe good property management is about being proactive rather than simply reacting when something goes wrong.
If you haven’t reviewed your investment property for a while, spring is the perfect time to start.
If you’d like an updated rental assessment or would simply like to have a conversation about how your property is performing, our team would be happy to help.