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Is it time to take action with a facelift?

By Tash Johns

All properties from time to time will require new carpet, a fresh coat of paint, or appliances replaced (sometimes all three at once, plus more).

It is considered best practice when owning an investment property to upgrade the fixtures and fittings every 5-7 years, or in accordance with your depreciation schedule for tax-saving purposes and your accountant’s advice.

In addition to the tax saving benefits, well-maintained properties will also, be more popular and attractive, resulting in a better quality selection of tenants, higher rents, minimised vacancy periods, and maximised long-term capital growth sale values in comparison to properties that are left unkept (with no facelift) to deteriorate, depreciate and look old.

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