Cape Town has become a high demand location for property investment from both local and foreign investors and the booming tourism industry has also added to the appeal of this city for holiday accommodation. Many investors continue to add value to their rental homes to ensure their investment remains in demand. However, some features home owners choose to upgrade might have the opposite effect.
In an ever evolving technological society the demand for ‘smart’ homes is on a sharp rise. We’ve seen a lot of interest from tenants and tourists for homes with a cutting edge system installed. Remote controls that manipulate the electronics, one touch security features, energy efficient heating and lights all controlled from your cell phone or tablet. These systems can be expensive and it is always best to do your research and speak to the relevant experts before making unnecessary upgrades.
There is no doubt that for both local and foreign tenants security remains a top priority. Poorly secured homes do not attract as much attention as homes that make a family feel safe. Alarm systems, armed response, automated gates, electric fencing are all upgrades that if installed correctly not only secure your investment but keep your occupants safe. A good source of information is your local armed response company. They can offer guidance on systems and are usually able to integrate them with your other tech applications if necessary.
With the pressures of global warming and environmental changes on our planet many people are more aware of their carbon footprint. Cape Town is in a water crisis and we’re all trying to reduce our water usage, translating into the demand for green homes becoming higher by the day. There are holistic solar companies that can assist you with your electricity usage as well as installing grey water systems. This not only adds a lot of appeal and value to your home but plays its part in the greater scheme of things too.
Sometimes all a property needs is a little attention. Especially for home owners across the pond or out of province, maintaining a home can be difficult. Aging properties with a lot of wear and tear can drastically reduce the income opportunities of the home. If you continually maintain your property very often the big changes become less frequent and your return on investment is higher.
Consult any of our rental property specialists at Harcourts Pegasus in Fish Hoek to guide you with ideas and steps to ensure your investment is protected.
Manager of Rentals Operations at Harcourts Maynard Burgoyne