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Simple ways to add more rent – add storage

One simple trick to get more rent – just add storage.

As a property investor it makes sense to make your home as desirable to live in – and stay in – as possible, without spending more than you need to. After all, it’s very expensive to move out – for both the owner and the tenant. I have heard it said that to add a garden shed means your tenants collect more “crap” than they care to move and may just stay put!

Mortgage brokers Sydney show you one quick way to make your home more livable is to add some clever and necessary storage, especially in a smaller space.

Storage like built in wardrobes, cupboards in the garage and laundry and of course, plenty of kitchen storage make the home more livable and make for happier tenants. I remember renting a home once that didn’t have a pantry! We had to keep our food in a cupboard under the stairs and we didn’t like doing that for long.

Bathroom storage is another important area – the things you keep in your bathroom often look untidy on open shelves or need protection from small people (and prying eyes!). Simple and very effective bathroom cupboards can be found in most hardware stores or even your local Ikea, and this small investment will help dramatically in making the home more long term livable.

Consider the following cheap and simple additional storage ideas:

  • Adding more shelves to wasted space in large cupboards – like the tops of wardrobes.
  • Running shelving above car height in the garage or allowing hooks for hanging larger items like bikes and ladders
  • Slimline cabinets with mirror fronts that attach to bathroom walls
  • And if you’re renovating a kitchen, extend the cupboards to roof height.
  • A garden shed is cheap and easy storage!

And remember to keep your receipts – your accountant will want to know what you’ve spent improving your rental property.

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