by Carrie Metcalfe on
Article appears under:
Renovate to Rent Blog
At this Rotorua property, a client from iFindProperty had purchased a section with two dwellings; one dwelling that was suffering from ‘rental fatigue’ after being tenanted for many years, and a second dwelling which needed altering to make a separate legal dwelling with maximised return. Together, we paved a plan to renovate and tenant the front 3-bedroom property and then use the rental income to fund the conversion of the back dwelling from a one bedroom to a three-bedroom dwelling that could be separately rented.
The modernisation of the front property was relatively straightforward as no structural work was taking place. The builders report had detected a minor roof repair, which we fixed before installing a new kitchen, fresh carpets, new paint on every wall and new curtains. In addition to the capital gains from modernising the property and giving the home a new lease of life, the property was able to be rented for around $100 more per week than it was pre-renovation.
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