Maybe you’ve spruced up your own home
and feel confident taking on a project that’s all about the profitability.
But one DIY job does not the expert
make.
If renovations were so easy to cash in
on, why do so many people walk away no better off at the end of a very
exhausting and stressful experience?
Firstly, you need to be aware of which
jobs you plan on undertaking, if any, require council permits and how to go
about the application process with your local government authority.
Then there’s due diligence to measure
the project’s viability, risk assessment and mitigation, time and cost
management and contingency planning, coordinating tradespeople and various
building processes to work through.
Engaging a properly qualified builder or project
manager to oversee your renovations is definitely advisable.
If you prefer to get your own hands
dirty, I’d recommend engaging a properly qualified professional for the first
few small-scale developments to give you some much-needed ‘on the job’
guidance, before attempting to go it alone.
RealRenta
has all the tools that a property manager has but for less than ¼ the cost
of a property manager.
You can now manage
your Residential, Commercial or share/student accommodation property
Join now and the cost is less than a cup of coffee a week to manage your
rental property.
RealRenta also has a free vision, so why not check it out.
Jason Gwerder
Friday, 12 April 2024