A fresh coat of paint is one of the best ways to protect your investment. Even in today’s competitive rental market, it’s worth attracting quality renters prepared to pay a premium rent. Tas Moulis, Qpaints Managing Director and the Vice President of the Master Painters Association Queensland, suggests landlords should paint the exterior of their property every 7-10 years and the interior every 5 years. A freshly painted exterior and interior show a well-maintained property that will attract quality tenants. Discerning tenants will look for properties that look freshly painted and are easy to maintain.
Not only will painting your Brisbane rental property attract quality tenants, but it’s also a tax deduction. Check the ATO rules for the deduction here. Making smart painting decisions for your Brisbane rental property can save you thousands. These savings come through tax benefits, increased rental yields, and preserved property value.
Current Brisbane Rental Trends
Brisbane property owners see substantial rental growth. According to data, house rents have jumped 53% since March 2020, and unit rents have shown a remarkable 67% surge in regional Queensland. Net overseas arrivals combined with a limited residential rental supply will keep these tight conditions going.
Core Logic’s data shows Brisbane’s three-bedroom houses now fetch average weekly rents of $992.31. Units achieve approximately $874.58. These figures show a 9.3% increase in the last year.
What is the Cost of Putting off the Paint Job?
Poor maintenance can get pricey for property owners. And paint is part of the maintenance of your property just as much as the garden, plus fixtures and fittings. Paint does more than make things look good – it protects against weather damage and everyday wear. Tas Moulis advises 3 coats of interior paint for landlord homes because “the walls can be wiped clean easily”, compared to just 2 coats of interior paint. So your tenants can clean more easily, but also any cleaning for new tenants will be much easier with the grime wiped away and not having to be repainted earlier than needed.
Hidden Maintenance Expenses
Brisbane’s humid climate makes moisture damage a serious issue. Deteriorating paint creates perfect conditions for mould growth, especially in areas of bathrooms, kitchens and window sills. Property owners need to fix these problems quickly because mould spores can harm tenant health and trigger expensive cleanup work.
Paint problems go beyond just mould issues. A simple paint job delayed too long often creates bigger repair headaches. Normal wear shows up as minor scuffs and fading. The longer you wait to repaint, the more likely you’ll face deeper structural problems. Properties with visible paint damage usually need wall repairs and surface prep work, so renovation costs keep climbing.
Impact on Rental Income
Bad paint jobs hurt rental returns directly. A well-kept property brings in higher rents and quality tenants who stick around. Tenants don’t mind paying premium rates for properties that show regular maintenance. A fresh coat of paint every 5-7 years helps you stay competitive with rental rates. Properties with good paint jobs should stand out and sit empty for shorter periods between tenants. Plus, good maintenance builds trust with tenants and encourages them to stay longer, which cuts down on turnover costs. Money problems go beyond just monthly rent. Properties that look neglected struggle to attract responsible tenants. This often results in extra wear and potential damage. The property’s condition keeps getting worse, and rental returns keep dropping.
Tax Benefits of Regular Painting
Tax benefits for rental property painting can give you the most important financial advantages. The ATO has clear guidelines about claiming painting expenses rather than leaving room for interpretation. We can give you general advice, but make sure to check the ATO website to research your specific query.
ATO Guidelines for Landlords
The ATO puts painting work into two clear categories. Your original paint job that counts as regular maintenance or repairs lets you claim the full cost in that tax year. This applies to touch-ups and repainting of faded or damaged walls. A larger renovation project makes the ATO treat it as a capital improvement.
Depreciation Benefits
Capital improvements use a 2.5% yearly depreciation rate over 40 years. A complete repaint of your property, inside or outside, moves from maintenance work to capital improvements.. We will provide you with a detailed quote you can use for tax purposes and claim the deductions or depreciation.
You need everything in place to get the maximum tax benefits. Your painting claims need:
- Detailed invoices showing work scope and costs
- Written communication with tenants about painting needs
- Photographic evidence of work completed
- Proof the property was available to rent during repairs
Missing detailed records makes claiming these deductions hard. A quantity surveyor’s report helps us establish the depreciable value of previous paint work that former owners did. This will give a way to claim legitimate deductions while following ATO rules.
Competitive Advantage
New minimum housing standards from the Queensland government took effect for new tenancies from September 2023. Rental properties must now meet these key requirements:
- Weatherproof and structurally sound conditions
- Functioning locks on all external doors and windows
- Freedom from vermin, damp, and mould
- Adequate plumbing and drainage systems
Property owners who meet these standards gain a clear market advantage. Maintenance extends beyond basic compliance. Regular upkeep and painting help properties stand out in Brisbane’s competitive scene, where tenants have become more selective and budget-conscious. Property managers report that well-maintained properties attract quality tenants and lead to longer tenancies. This strategy proves especially valuable as the market adjusts and tenants become more selective about their rental choices despite tight vacancy rates.
Return on Investment Analysis
Smart property investment decisions depend on understanding painting costs and what they return. A full picture shows significant financial advantages for Brisbane property owners.
Average Painting Costs in Brisbane
Professional painting services in Brisbane come with different price tags based on your property and what needs doing. According to Qpaints prices for Brisbane homes, the cost to paint a low-set brick veneer 3-bedroom house would cost between 4-6K, depending on condition, preparation required, accessibility (vacant or occupied) and several coats required. A standard timber post-war Brisbane house would cost between 9-13K, depending on condition, preparation required, accessibility, and whether it has timber windows that need painting. If the house contains high levels of lead paint that require preparation, then additional costs to remove, make safe and prepare these surfaces would apply.
Property Value Increase Estimates
Fresh paintwork helps properties fetch better prices and higher rents consistently. Properties that are managed to keep well see 10% higher occupancy rates and 15% better rental returns compared to neglected ones.
A smart painting investment brings multiple financial rewards:
- Property values jump 5-10%
- Paint coatings last 40% longer
- Maintenance costs drop by 60%
Properties painted every 5-7 years hold stronger market positions. Regular painting schedules protect asset value and help negotiate better rental rates or refinancing deals.
The benefits go beyond just boosting property values. Buildings with good paint maintenance attract tenants who stay longer and help stabilise rental income. These advantages grow over time, making regular painting the lifeblood of smart property management strategies.
Conclusion
Smart Brisbane Landlords know the value of regular painting. Our analysis reveals how planned paint maintenance brings financial rewards and protects property value in today’s competitive market. You save thousands through reduced repair costs and tax benefits when you follow regular painting schedules. Properties with good paint maintenance achieve 15% higher rental rates. They also see 10% higher occupancy rates compared to properties that lack proper care.
- Brisbane’s rental market now shows a record-low 0.8% vacancy rate. This gives landlords a chance to boost their returns.
- A fresh coat of paint attracts quality tenants and supports higher rental rates.
- It also prevents expensive maintenance issues down the line.
- Good paint maintenance cuts repair expenses by 60% and makes coatings last 40% longer.
- Successful property investors know that painting every 5-7 years creates winning results.
- Get better tenants and longer occupancy periods. Property values also stay strong.
This forward-thinking approach helps secure rental investments and builds steady returns in Brisbane’s ever-changing property market.
