I’m often asked by clients about what type of dual occupancy fixtures and fittings they should have and whether they should be upgrading to higher levels of finishes or inclusions. I’ll begin by discussing a number of the items which are generally provided in most inclusions lists, and should probably be seen as a standard item.
Firstly it’s important to note that you need to ensure that the dual occupancy you are purchasing is a full turn-key
solution; meaning that it’s rent ready from settlement. There are some builders that advertise properties with a “from price” meaning that they are not complete and will have additional expenses and inclusions that need to be added.
We only work with full turn-key solutions for our clients which means that the each of the properties we provide is completely rent-ready from settlement and has all of the necessary items such as: driveways, landscaping and turf, clotheslines, and full internal items such as floor coverings, blinds and kitchen appliances etc.
Air Conditioning: This is very important for Queensland properties and should be included. It is also best to have it to both the main and living areas.
Stone Bench-tops: These have become an item that many people expect in new houses. These should be in the kitchens as a minimum.
Stainless-steel kitchen appliances: This had been a standard inclusion expected of many tenants seeking to rent a new property.
Undercover Alfresco Areas: Outdoor areas are very important in Queensland and can be a key consideration for potential tenants.
Talk to Your Builder
It is possible to upgrade from standard inclusions ranges with most builders, however it is important to ensure that the
upgrade in inclusions performs one of the following:
- Provides a greater yield
- Provides greater attractiveness to tenants, ie a faster rental.
We’ve generally found that there are few upgrades in inclusions that have resulted in an increase in yield. In other words the additional funds required for the upgrades haven’t resulted in a big enough increase in rent to increase the overall yield of the property. It is possible to make the property more attractive to tenants; however this may be at the expense of the yield.
We spend considerable time comparing different inclusions lists and build quality for our clients to ensure the best value for money is provided. This is something that takes considerable experience and expertise to undertake and is an important process in purchasing an investment property.
