5 Upgrades to Make Your Rental Property Worth More
Upgrading Your Rental Properties:
Renting can be a tricky business. In today’s market, people have more options than ever of who they rent from and how much they pay each month. When a renter is deciding which property to rent they simply want the best value for their money. They want something clean, modern, and up-to-date, and attractive that suits their lifestyle. While you can’t change the size of the property you are renting or how much yard space is provided, there are many things you can control that will up what you can charge a tenant each month.
5 of those top things that can really help up the price you rent the property for each month:
Landscaping: Potential renters will receive their first impressions of the property before they even walk through the front door. That’s what they call “curb appeal”. You would be amazed what a simple new fresh, layer of mulch or some new flowers being planted outside as a landscaping upgrade can perk up the look of the home making it look more appealing, welcoming, and friendly for just a small investment of as little as a few hundred dollars per property.
Upgrade Appliances: The appliances in a rental property are vital to being able to demand top dollar. Having appliances that are reliable and easy to use are important to help ensure that the property is a comfortable place for your client to rent. This means ensuring that all appliances are in good working order and are modern in their ability to deliver top-of-the-line effective experiences to the tenant. Your appliances will include everything from the microwave to the oven or dishwasher to the washer and dryer units and back again. Ensuring you have quality appliances ensure that you are getting the money your rental property is worth.
Counter, Cabinet & Flooring Upgrades: Upgrading the interior of the property can help raise the value of what you can ask someone to pay the property. Wooden floors, granite counter tops, and dark oak woodwork can all upgrade the look and the asking price for rental of the property. These might be somewhat costly upgrades but they will pay off in the long run. Moreover, when choosing cabinetry to make sure there is plenty of storage as that is also a hot commodity in a rental property that can allow you to demand more for your property.
Fixtures: Upgrading the “little stuff” like door knobs, cabinet handles, faucet fixtures, etc. will help make the property look more “top end” and inviting. Adding any little additions to the property that makes it look more luxurious and lavish will help potential tenants be impressed with the finishings and will be willing to pay more for the property than they would for a property with outdated fixtures that make the property look old and unkempt.
Clean Clean Clean the Property: Hiring cleaning professionals to come in between tenants to ensure that the property is clean and pristine before showing it to the next potential tenant. Tenants want to live in a sanitary environment and will be willing to pay a premium price to do so. Hiring someone to get the place in top shape and someone who will ensure the place is in good repair can help ensure you are showing your property at its best to help demand top dollar for those wanting to rent the property out. The cleaner the property is the more money you can demand from a tenant wanting to rent the property.
For more information on how to ensure that you are getting top dollar for your rental property please be sure to contact us.