Diamond Accounting

The 10 ways to Bullet Proof your business in this economic downturn are as follows:

1. Managing Cash Flow

2. Keep Fighting - Increase marketing and advertising campaigns

3. Be patient - and be ready for the turnaround

4. Attract and retain quality staff

5. Strengthen relationships with your bank - if needing credit/loan

6. Seek a business coach/mentor for personal and professional direction.

7. Retain clients through vigilance, flexibility and straight talk.

8. Chase incentives - seek rent-free rent periods from landlords etc

9. Business Plans - Ensure you have one, review it and creats new targets.

10. Be informed to make better business decisions.

 

A well maintained rental property not only ensures happy tenants, but also higher rents. Property investors can spend money on their existing assets to increase their rental return and create more cash flow.

 

Simple renovations to maximise your rental return are as follows:

 

1. Wash and repaint walls

 

2. Clear all rubbish from inside & outside the property

 

3. Put up new blinds/curtains

 

4. Improve storage with BIW

 

5. Install new door handles

 

6. Create bright areas with higher wattage light bulbs

 

7. Clean floor coverings and carpets

 

8. Install air conditioning/heating

 

9. Update Kitchen with a new paint job

 

10. Security - Install new secure locks

 

These are just a few of the ways to give your investment property and new look and feel and have satisfied tenants as well as increasing your rent.

 

We can assist in advising clients whether the expenses above are deductible or depreciable before you begin the renovations.