5 key features of a standout Sydney investment property

Are you thinking of purchasing an investment home and want to know what tenants are particularly looking for? We can tell you that Sydney tenants are looking for a comfortable, convenient base for work and fun, not a forever home.

When purchasing an investment property to rent out, it’s important to think with your head and not with your heart. In other words, don’t look for what you love in a home but rather what will make your potential tenants happy.

Here are 5 things that will keep your tenants happy, paying good rent and looking after your property.

1. Functional spaces

By functional spaces, we mean separate areas for sleeping, relaxing and working. Many people now work from home and want a space where they can work uninterrupted from the other activities that are going on around them. Whether that’s a separate study or just a private corner in the main living area.

Other functional spaces include the kitchen, the bathroom and a separate area for the laundry. These areas need plenty of light, good ventilation and quality appliances that work.

Don’t forget that tenants also like usable outdoor spaces where they can relax at the end of the day or enjoy time with family and friends on the weekend.

2. Good heating and cooling

With our ever-changing climate, any investment home that you’re considering purchasing needs good heating for the winter months and efficient cooling in summer. The best option is reverse-cycle air conditioning units as these are fairly efficient to run and will do both heating and cooling.

But, don’t just consider the main living areas. The bedrooms also need one of these units so that your tenants can feel comfortable all year round and get a good night’s sleep.

3. A washing machine and clothesline

Tenants who have previously lived in an apartment will not own their own washing machine, so having one of these in your investment property is a real bonus. It’s also a good idea to ensure that there’s an outdoor clothesline that’s clean and functional.

Drying clothes outdoors rather than using a dryer is not only good for the environment but also helps to cut down on energy consumption.

4. Good appliances

Appliances such as ovens, cooktops, dishwashers and washing machines should be in good condition and work well. Nobody wants to move into a home that has a 20-year-old oven that will need to be cleaned multiple times to even be usable.

If the appliances in the house you want to purchase are a bit old and have seen better days, consider updating them to more modern models that are also energy efficient.

5. Modern neutral finishes

The interior decor in the house should be fairly neutral. This allows the tenants to add their own individual style in the soft furnishings they select. It’s fine to buy a property that has a different colour scheme in every room, as long as you give the entire interior a new paint job.

The same applies to the floors and window coverings. Timber floors or tiles are highly sought after because they’re easy to keep clean and maintain. So, avoid properties that have thick carpet or worse, old carpet in garish colours, unless you intend to pull it up and lay some laminate or engineered wood flooring.

Similarly, nice slimline blinds are much better than heavy curtains or drapes. Once again, these are easier to keep clean and add a modern touch to any interior.

Bonus tip

A great property manager is essential to keep your tenants happy and your property well looked after. Tenants want a property manager who is approachable and will listen to any concerns that they might have.

HPA is one of Neutral Bay’s most established boutique family agents and we will look after your investment property like we do many others. Our property managers have decades of experience handling property portfolios for our trusted clients and we will ensure that your investment is well taken care of.

Are you a Neutral Bay property investor? Talk to us

If you’re looking for your next investment property or want to discuss our management options, feel free to give us a call. We would love to have a chat with you to let you know what tenants are looking for and how we can help.