McGrath Lithgow Property Management Monthly Newsletter – August 2025

Lithgow Property Management Monthly Newsletter

August 2025

Greetings from Tina’s Desk

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Property Improvements 

A topic that many of our landlord investors speak to us about is what sort of improvements should you be making to your rental property and when should you do this.
It’s a complex question, in many cases specific to your needs and financial situation. Despite this, let’s look at some of the items that our office would recommend you keep updated at your property. Paint and carpet are items that are reasonably easy to gain quotes for with a tenant in place. This then allows you to budget for this to be addressed when your property next becomes vacant. Under NSW tenancy law and the ATO, the considered life span of your paint and carpet is 8 years. If you have not updated these items in the last 8 years, the time might be on the horizon that this should be considered as your next project.
With updates in mind, depreciation of assets is not the only thing that we keep in mind when you are considering repairs. It might be time to modernise your kitchen or bathroom, especially if you have something in your home that was installed in the1990’s or earlier. (fun fact, 1990 was 35 years ago!!!) By keeping up with modern standards and trends, you will attract a higher rent price and see more interest in your property. In the same way, you will see a higher return for sale on a property where you have updated the premises over the years instead of only spending money on essential repairs alone.
Purchasers love to see fresh paint and carpet, new heating, modern light fittings and updated kitchens and bathrooms. Generally, I would not recommend that you invest in large renovations with a tenant in place, as it can be difficult and disruptive to a tenant for this to be done around them. There are provisions under the Residential Tenancies Act, that allow you to give a tenant notice to vacate if completing some major renovations are on your bingo card for 2025/2026 financial year.
If you would like to have one of our sales agents provide you with their recommendations for updates on your rental investment, let your property manager know and they can arrange an appointment with one of our skilled sales agents. If you would like further advice around depreciation of your asset, let your property manager know and they can connect you with a tax depreciation company or speak with your accountant.

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McGrath Lithgow's Property Management Team

Mikayla Callcott
Office Manager and LIC Lithgow
0459 406 006
Office 02 6352 5125
Olivia Robinson
Property Manager
0474 501 460
Office 02 6352 5125
Varun Kinra
Property Officer
0477 117 702
Office 02 6352 5125
Sophie Morris
Property Manager
0477 677 239
Office 02 6352 5125
Mcgrath Central Tablelands

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