Project Management

We possess a wealth of knowledge within our business to increase the capital value of your property and therefore increase rental return.   Firstly, we work with you to establish where your money would be best spent in a renovation.  We then implement a strategy to facilitate the project on your behalf by:

  • Sourcing trusted tradespeople and products required;
  • Organising quotes and coordinate suppliers;
  • Project Manage schedules and budgets, overseeing the project until the renovation is complete.

Recently one of our client’s properties was approaching an end of lease. On our pre—vacate assessment we advised the client that prior to renting the property again there were several maintenance items that required attention. Once the tenants had vacated we conducted a full assessment and established there were more items that required attention. In fact there was substantial capital value that could be added from doing some key improvements.  The excellent location of the property near good schools, shopping and key public transport links meant that in its current condition it was not performing to its potential. With the above in mind, we knew we could add value through key improvements without over capitalising and at the same time increase the rental return.

Located in Bardon, the property was given a facelift and totally refreshed including:

  • Painting internally and externally;
  • New kitchen appliances and cork flooring replaced old vinyl flooring;
  • Bath resurfaced to look like new;
  • Ceiling fans installed throughout;
  • Rear deck modified, opening it to connect with the rear yard, making it more conducive to entertaining;
  • Rear yard landscaped and fenced, enhancing the overall appeal to potential tenants;
  • Drainage work completed in rear yard to alleviate any future issues that may impact on the property or tenant.

Costs of works: $49,000

Depreciation: $ waiting for this figure

Evaluation of Property Before work: $690,000

Evaluation of Property After work: $780,000

Rental Income/ week prior to work: $500

Rental Income/week after work: $600

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