Reference no: EM132987484

You have been called in by a seller Mr Joe Nigarry, who has asked you to list his property at 56 Bott Street, Ashgrove, Queensland. He has lived in this home for more than 50 years and is not familiar with the value of similar properties in his suburb of Ashgrove.

Your inspection has revealed that the property is a beautiful original Queenslander, like many that are found in the suburb of Ashgrove.

However, over the years, the owner has extended the home by adding a large laundry with fibro construction and 2 extra bedrooms with gyprock internal walls and aluminum sliding windows. The bathroom and kitchen were also renovated approximately 20 years ago and are now somewhat dated and out of character for the property.

Joe has asked you for a report on the property, your recommendations for improvement and the likely selling price. He has also asked a number of questions about renting the property as an alternative to selling.

What contributes to the best rental return for Joe's property?

Identify three (3) likely defects/problems that could be present on Joe's property and the impact these may have on a tenant during the tenancy ?

Explain how the modifications to the original style of the property could affect the rate of return and the capital growth of Joe's property, and the impact on any rentals ?