We can all feel this way at different times, but have you thought about your investment property lately?

Sometimes we can forget to spend time and money on giving investment properties a well needed facelift or a simple tidy up.

An investment property needs to be regularly maintained and serviced. As an investor, it is important to budget and plan to update the property every 4 to 7 years, depending on the normal wear and tear that has taken place.

This includes:

• Internal painting
• External painting (if applicable)
• Replacement of carpets
• Replacement of window coverings
• Replacement of appliances such as dishwashers, dryers, ovens and stoves
• Freshening up gardens

All items within an investment property depreciate in value over time.  Once the item has depreciated completely there is no longer a tax advantage.

A well presented property will more likely attract a quality tenant who will care for the home.  You are also more likely to achieve higher rent.