Whether you own a single-family home, a townhouse or an entire apartment building, having bathroom renovations performed by a commercial plumber can offer many benefits to you. From short-term gains to long-term capital growth, bathroom remodelling in rental properties is a wise investment for many reasons:
1. Higher Rental Rate Potential
Refurbishing the bathrooms in your rental property by installing new fixtures greatly increases the perceived value of your unit. As one of the most important rooms in a home, many tenants would be more willing to accept a rental increase in exchange for a new bathroom.
2. Increases in Property Value
Bathroom renovations are shown to bring one of the highest returns on investment in terms of long-term increases in the property value. By keeping the bathroom up-to-date, you can help to boost your property’s price when it comes time to sell.
3. Less Need for Repairs
The older the fixtures in a bathroom become, the more likely they are to break and require repairs. A bathroom renovation that includes the installation of brand new fixtures will greatly reduce the likelihood of emergency maintenance, saving you time and money down the road.
4. Tax Benefits
In many cases, the costs of bathroom renovations are completely or partially tax deductible. This will lower your tax liability at the end of the year and may also bring additional tax benefits.
5. Reduced Length of Vacancies
Bathrooms are one of the most important features of a property to prospective tenants. When you are in the process of looking for new tenants to fill a vacancy, a brand new bathroom is a major selling point that can lead to more inquiries and securing a new tenant much more quickly.
To get the biggest benefits from bathroom renovations in your investment property, it is worthwhile hiring an accredited commercial plumbing company with renovation experience. At Sydney Emergency Plumbing, we have replaced showers, tubs, toilets and sinks in numerous rental units throughout the greater Sydney area. To discuss your renovation plans, call us on 1800 862 565 .